United Auto Workers (UAW) President Shawn Fain snubbed Ford Executive Chair Bill Ford. Fain was supposed to attend a negotiation between the two parties but decided that he would not meet with car company royalty. Fain wants to negotiate on his terms, not those of Detroit\u2019s senior management. (These CEOs are paid 1,000 times more than their employees.)<\/p>\n
Fain has made much out of how Detroit chief executive officers are compensated compared to their workers. These CEOs say most of their compensation is in stock options that do not always pay out, but the gulf remains extreme. Workers should not do what CEOs do, ever. They do not have equivalent responsibilities.<\/p>\n
No matter what the UAW\u2019s opinion of other car executives, Bill Ford\u2019s wealth due to the leadership of the Ford family is almost beyond imagining. It is well into the hundreds of millions of dollars because he owns Ford shares. His family\u2019s is worth over $1 billion. He does not need the $17.5 million he made last year. He is not even the car company\u2019s CEO. However, the CEO, Bill Farley, does work for him, which is unfortunate for Farley.<\/p>\n \t\t\t\t