Don’t cry for $ergio.

I couldn’t let this one pass by.  Ford’s Alan Mulally may take home $58.3 million and Chrysler won’t “pay” Sergio Marchionne a salary for the year.  But, don’t forget, Chrysler is just a division (per se) of Fiat, and he’s holding millions of shares in Fiat, and getting more every year.

At least this year, the company didn’t have to cover product losses like his 2007 incident with a quarter million dollar plus Ferrari 599 GTB — I think it was a RENAULT that cut him off — LOL, just a little humor with all these big pay numbers.

Enough said.  Now what about that Chrysler IPO that was imminent in 2011, no, I mean 2012, or was that 2013.  WHAT, no longer imminent?  Oh, well.

Comment: I know this is not significant to share price, but let’s be serious when discussing executive compensation.  They both deserve millions, Mulally for saving Ford preemptively and Marchionne for mastering the financial engineering to keep Fiat and Chrysler alive.  Don’t like it, don’t buy the stock.  Don’t own the stock, you shouldn’t give two hoots.  For a good summary of auto exec comp, if you care, a hat-tip here as usual to Automotive News

 

UPDATE:  Evidently “nothing” can mean: $19 million from Fiat last year.  Oh well.  I am sure the coverage of his payout (WELL DESERVED AND TRANSPARENTLY GIVEN) won’t garner the press of the “no pay“.

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