The key issue to Detroit and to Michigan citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.
Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of many large Michigan Companies were rewarded with in the past ten years.
The 22nd Michigan Company I am addressing is Adient plc, which is a Johnson Controls Intl spinoff which occurred in 2016.
From annual compensation information contained in Company Proxy Statement filings and a 10-12B filing with the SEC, the chart at the very bottom below shows Adient plc's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent five years, which is all the years this information was disclosed.
Adient plc's Top-Tier Executive Average Pay Raise was a Blistering 27.5% per year for the last five years and is the 8th highest of the 22 large Michigan Companies I have addressed so far.
- Credit Acceptance Corp +195.9% per year for the past ten years
- DowDupont +94.5% per year for the past ten years
- Sun Communities Inc +72.8% per year for the past ten years
- Lear Corp's +56.1% per year for the pat ten years
- Domino's Pizza +31.8% per year for the past ten years
- General Motors +29.5% per year for the past ten years
- Perrigo +28.8% per year for the past ten years
- Adient plc +27.5% per year for the past five years
- BorgWarner +25.3% per year for the past ten years
- Dow Chemical +22.4% per year for the past ten years
- CMS Energy +21.9% per year for the past ten years
- Stryker Corp +20.7% per year for the past ten years
- Gentex +19.3% per year for the past ten years
- Penske Automotive Group +19.0% per year for the past ten years
- Ford Motor Co +17.0% per year for the past ten years
- Masco +15.6% per year for the past ten years
- Ally Financial +15.6% per year for the past four years
- DTE Energy +10.6% per year for the past ten years
- Aptiv PLC +10.0% per year for the past eight years
- Whirlpool +7.9% per year for the past ten years
- Kellogg +7.8% per year for the past ten years
- WABCO Holdings +7.5% per year for the past ten years
The only highly effective US Government law enacted by either party in the past decade that has substantially reduced income inequality expansion is Obamacare and the political right is continually trying to repeal and replace it and at least two and perhaps even three of the top four Democratic Presidential candidates now leading in the polls are effectively running as their principal issue to do in essence precisely the same thing ..... repeal and replace Obamacare ..... but to do it with a pure Medicare For All. The pure Medicare For All advocated by Bernie Sanders and Elizabeth Warren and which was co-sponsored in a US Senate bill by Kamala Harris is extremely expensive and would take up an enormous amount of time with no positive result since it has no chance of getting passed legislatively. If the Democratic nominee is either of them, Trump will easily win in the general election. It is that simple.
To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed, simple but effective Fair Pay Raise Income Inequality Narrowing Company tax incentives ..... the carrot ..... and Company wise tax disincentives ..... the stick. I am certain that this tax proposal would be very effective in substantially reducing the huge income inequality expansion that has occurred for decades in annual percentage pay raises between higher-level company executives and the rest of the company employees.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.
Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | |||||
| Sept | Sept | Sept | Sept | Sept | Sept | Sept | Sept | Sept | Sept | |||||
| Adient plc | 2018 | 2017 | 2017 | 2016 | 2016 | 2015 | 2015 | 2014 | 2014 | 2013 | ||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | ||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | ||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | |||||
| Bruce Mcdonald Former CEO | 13,868 | 24,264 | 24,264 | 21,189 | 21,189 | 10,192 | 10,192 | 7,693 | 7,693 | 8,942 | ||||
| Jeffrey Stafeil CFO | 3,755 | 5,603 | 5,603 | 1,463 | N/A | N/A | ||||||||
| Neil Marchuk Chief Human Resources Officer | 2,935 | 6,857 | 6,857 | 4,377 | N/A | N/A | ||||||||
| Byron Foster EVP | 3,678 | 6,780 | 6,780 | 3,340 | N/A | N/A | ||||||||
| Eric Mitchell Former EVP | N/A | N/A | 5,736 | 2,802 | N/A | N/A | ||||||||
| Cathleen Ebacher General Counsel | 2,051 | 4,307 | 4,307 | 1,110 | N/A | N/A | ||||||||
| Totals | 26,287 | 47,811 | 53,547 | 34,281 | 21,189 | 10,192 | 10,192 | 7,693 | 7,693 | 8,942 | ||||
| Annual % Change vs Prior Year | -45.0% | 56.2% | 107.9% | 32.5% | -14.0% | |||||||||
| 5 Year Average Per Year % Change | 27.5% |
