Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[DDavidson]

Harley CEO receives $6.4 million package

http://www.ydr.com/ci_14678217

NEW YORK --The CEO of Harley-Davidson, who took over the motorcycle maker part way through 2009, re´ceived a pay package valued at $6.4 million during his first eight months on the job, according to a regulatory filing.
Keith E. Wandell received a base salary of $650,025 from his start date of May 1 through the end of 2009, according to a filing with the Securities and Exchange Commission.

He received a bonus of $780,030 and stock and option awards valued at $4.9 million at the time of issue.

He also received other compensation worth $22,515, which includes a cash payment of $19,733 instead of perquisites.

Wandell, 60, replaced James L. Ziemer, who retired last year after 40 years with Harley-Davidson and four years as its CEO.

Before taking over Harley, Wandell was chief operating officer of the car battery and building ventilation systems maker Johnson Controls, which also has a hub in York County at the former site of York International.

[49445CVO]

Dad? 

Wow must be nice.

[Ultra2010]

No wonder why our CVOs are near 40K, made in China T-shirts are $27 and a mega-mass produced shop manual is $60.   High times at Harley..... well for him anyway.  However, if I were in his boots, I'd take it too. (but I would mandate NO made in China chit).

[YELLOWBIRD]

When is enough money ENOUGH? As an CEO, I understand that you should get paid more, but come on!  6.4 MILLON. All these big CEOs are over the top. Oh yeah, just like Ultra said, MANDATE MADE IN THE USA! NO MORE OVERSEAS BS...  It kills me that our country is in bad shape and that someone works for only 6 months and makes that much. And he doesn't even ride!

[grc]

On the job only 8 months, a period that has seen negative financial results btw, and somehow he has already "earned" over $5M in bonuses on top of a very generous salary?  What happened to that idea of tying compensation to long range results.  Or in this case, tying compensation to any results.

This is exactly what's wrong with big business in this country.  I guess if anyone wants a 2011 model CVO they better plan on ponying up an additional $5k for more cheap Chinese crap and fewer standard features; someone has to pay for the corporate largess.


Jerry

[napalm]

Seems a little early for such a large compensation package...where's the performance?

napalm

[nidan]

Exactly what is WRONG with this country.. the economy is shakey , the stock is weak, the products outdated and overpriced and rather than invest in making better products , just dump the $$ in a worthless Suit's pockets..

[9 1/2 Beers]

The thing that gets me is

 He hasn't done enough to be rewarded for a good job. I don't understand all this compensation before he does anything

 "If a puppy chit in your living room, what are you going to do, tell him good boy  "

 Reward good behavior
 discipline bad behavior

 

 Marty

[JCZ]

HUGE reward for under delivering.........where do I sign up?

[HOGMIKE]

HUGE reward for under delivering.........where do I sign up?

They call this an "investment" for the future of the company!

[greglyon]

Harley and other companies that manufacture high-end toys are in survival mode.  It was a lot easier being ceo in the 90's I applaud them for bringing in an outsider with a different mindset who just may be more consumer orientated than the single minded predecessors that had been coming up from the ranks.  If our favorite toy maker survives...pay the guy whatever it takes to keep him on the job.   

[DDavidson]

Most likely a one-time stock option to lure him from an achieving company to Harley Davidson which is having to struggle a bit to keep the rubber down and the paint up. $215,000,000.00 a quarter struggle.

New CEO saying for 2009 "If not for me the losses would have been greater!"

Would a team coach get by saying "If not for me the Canadians would have beat us 4 to 2 instead of 3 to 2!"?

Seems like CEOs are becoming like T-ball players where they don't keep score (no winners, no losers) and everyone gets a well deserved trophy.

[tazmun]

I just have a few questions. We all keep complaining about the quality of the product so,

#1 Why do we keep buying the CVO's?
#2 Why do we buy the $27, T-shirts?
#3 Why do we buy all the Chinese chrome?
#4 Why do we put in an extra $4/8k to make them run better?

When we answer these questions, then we'll know why he gets $6 mil.

The ONLY way anthing is going to change, is when we DON'T buy the chit!

[grc]

See my answer to your questions, highlighted in red.

I just have a few questions. We all keep complaining about the quality of the product so,

#1 Why do we keep buying the CVO's?   I bought only one, 5 years ago, no plans to buy another.
#2 Why do we buy the $27, T-shirts?     I haven't bought a Harley t-shirt or jacket since 2003, no plans to buy another.
#3 Why do we buy all the Chinese chrome?  Last accessory I bought came from V&H, bent and chromed in the USA.  I only buy from H-D if there is no alternative from the aftermarket.
#4 Why do we put in an extra $4/8k to make them run better?   Once purchased, we have no choice if we want something that runs and handles worth a chit.  However, I did not buy a SERT or other H-D parts, I spent my money with the aftermarket.  Follows with my philosophy of "f$%* me once, shame on you, f$%* me twice, shame on me".

When we answer these questions, then we'll know why he gets $6 mil.  Actually, people were letting MoCo stick it to them a long time ago, when this clown was still selling batteries for Johnson Controls.  He doesn't get credit for the stupidity of the customers, he just inherited them.

The ONLY way anthing is going to change, is when we DON'T buy the chit!   

IF H-D were to reinvent themselves and become a modern consumer oriented purveyor of high quality and high value products that sold for competitive prices, I'd be happy to do business with them again.  Since I think the chances of that happening sometime during what's left of my motorcycling years is about zilch, however, I'm not making any near term plans for a purchase. 

IF this new CEO can reinvent the company and force it to become a modern consumer oriented purveyor of high quality and high value products that sell for competitive prices, THEN he would deserve the bonuses.  I don't believe in paying for just showing up for work, I believe in paying for real results sustained over time.


Jerry

[skreminegul07]

Rumors on the news about possible takeover of Harley.