Auto industry executives poised for major payout
BY MARK KLEIS
Due to the unique circumstances that placed automakers’ stocks at record lows in 2009, many auto executives are now set to receive substantial net payouts as a result of the drastic increase in stock values. Before the stock increase, many executives were working for substantially below-market wages, making the merit-based payout a welcome change.
The Associated Press recently performed an in-depth analysis of standard and Poor’s 500 index, tracking the compensation for all CEOs representing companies in that list. The APanalysis reviewed CEO compensation from 2008 through 2010, and found that rebounding stock prices have created the possibility for a major payout for top executives which have been relying heavily on stock options for compensation during the recent recession.
One glaring trend spotted during the AP analysis was that many CEO’s pay had been assigned via stock options in early 2009 while stocks were at a 12-year low, providing for substantial growth opportunity in the future. At the time, however, many CEOs were faced with stock options from 2008 that were in fact lower than their original estimates.
Now, by 2010, the markets have largely recovered and in some cases the increase was as large as a ten-fold jump in value. In the auto industry, Alan Mulally’s pay stood as a prime example Ford granted Mulally 5 million stock options with an estimated value of $5 million in March 2009, as derived from a unique formula. At the time of Mulally’s 2009 stock assignment Ford stock was trading at $1.96, which has since increased to a value over six times that amount – putting a value of $48 million on those stock options.The AP also pointed out that Mulally’s 2008 options – then valued at $9 million – are now worth over $20 million. In the same year, both Alan Mulally and then-Chrysler CEO Robert Nardelli accepted $1 annual salaries due to the dire circumstances facing their companies. By contrast, the top paid CEO for 2009 was Carol Bartz, of Yahoo, with $47.2 million in total compensation, with 90 percent coming as a result of stock options and awards.
GM’s executives may also potentially cash in on stock options in the future, but since the automaker is not yet publicly traded, the gains will likely not be as high. GM’s CEO, Ed Whitacre was given $1.7 million in salary for 2010, with $5.3 million in stock options beginning in 2012 as well as $2 million in restricted stock.
source: leftlanenews.com
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In: Business Stories · Tagged with: Alan Mulally, Auto Executives, Auto Industry, Automakers, Ceo Compensation, Ceo Robert, Drastic Increase, Growth Opportunity, Industry Executives, Prime Example, Record Lows, Representing Companies, Robert Nardelli, Standard And Poor, Stock Increase, Stock Options, Stock Prices, Stock Values, Substantial Growth, Top Executives
Acing Phone Interviews
In our previous post we discussed the preparation required to be successful in a telephone interview. We are now going to complete the exercise by dealing with the interview itself.
We are assuming that you have created your research and prepared the room and now you are ready to get to work. Remember one of my favorite pieces of advice, we have been given 2 ears and 1 mouth so we can listen twice as much as we talk. Not having the person in front of you allows for a wandering mind that may easily lose concentration, pay attention!
Having got your attention about listening let’s start out with some other basic rules for the session:
- Use the interviewers formal name e.g. Mr. Jones, Miss Peters unless they suggest otherwise. Make sure you have their contact information, correct spelling of their name, title, phone number and email address.
- Other than a small glass of water in case of ‘dry mouth’ don’t eat, drink, smoke, etc. these noises can be very easily heard on the other end of the line.
- If you can stand up while you talk this will help your breathing and smiling can be heard by the recruiter. If you don’t believe me try it.
- Don’t rush you answers, think about the question, think about your answer and then speak clearly and concisely. Don’t ramble on; this is as bad in a telephone interview as it is in a face to face interview.
- Be enthusiastic, your energy will stand out. Make sure this is genuine.
- Notes to have available, these should all have been practiced in advance.
- Why you are no longer with or why you are leaving ABC Company.
- Your positioning summary (fit for the job, etc.)
- Your strengths
- Your accomplishments
- Your weakness
- Your questions
- Take notes.
- Try to get a meeting set up for the next step (This may be a challenge) but at a minimum try to understand the hiring timeline.
- Always say ‘Thank You’ and follow up with an appropriate note or email.
Subjects to avoid in the initial phone interview:
- Money/Salary
- Benefits
- What’s in it for you
- Commute
- Etc.
source: virtualjobcoach.com
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In: Job Search Advice · Tagged with: Abc Company, Concentration, Correct Spelling, Dry Mouth, Ears, Genuine Notes, Glass Of Water, Initial Phone Interview, Interviewers, Pay Attention, Phone Email, Phone Interviews, Phone Number, Ramble, Recruiter, Salary Benefits, T Rush, Telephone Interview, Timeline, Wandering Mind
Preparing for the Phone Interview
You and the employer have two very different goals when you begin the telephone interview and our focus is to make this work for you.
The employer is often going to use this interview as a weeding process to get the many hundreds of applicants down to a manageable list that will be then invited to a face to face meeting. At a time when we have a larger than normal group of unemployed there is also a cost motive in reducing the face to face interview activity. When the employer first calls you to arrange the telephone screen make sure that you arrange a time that works for you and you have enough time to get organized.
The applicant has but a single goal, to get to the next step and have that face to face interview.
This first post is going to focus on Organization and Preparation. A subsequent post will focus on Practice, On the Day and Follow Up.
Preparation
- Who is calling who, what time and date and what is the name of the person who is calling from the employer?
- Research the company, make sure that you know enough about the organization to be able to ask sensible questions or comment on their product or services. Use your library’s online service to look up recent articles and other information.
- Practice the interview in the same way that you would prepare for any interview. We have an extended list of interview questions available of both the standard and behavioral varieties. For the purposes of this post I have listed below a number of the key areas you will need to be able to cover.
- Employment History – Key dates, employers, salary, jobs, etc. Use a sample job application form to get your thoughts in order.
- Your Background – What makes you tick, “Tell me about yourself”, goals, aspirations and motivation.
- The New Job – What makes this job special, what do you bring to the table, what do you know about the job/company?
- Have the following organized:
- A bullet pointed list of accomplishments and an outline for answering the question “Tell me about yourself.”
- Copies of your resume, cover letter and the job description available so you can reference them at a moment’s notice.
- A pen and paper handy for taking notes, try to avoid using a computer as the keyboard sound can be distracting.
- A landline for taking the call, reception is usually better than a cell phone and turn off any call waiting or other features that may be distracting.
- A list of questions to ask the interviewer.
source: virtualjobcoach.com
click here for more salary information
In: Job Search Advice · Tagged with: Answering The Question, Aspirations, Employer Research, Employment History, Focus, Information Practice, Interview Questions, Job Application Form, Key Areas, Key Dates, Motivation, Motive, New Job, Phone Interview, Recent Articles, Salary, Sample Job Application, Sample Job Application Form, Telephone Interview, Time And Date
