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John Deere compensation

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MinnBrad

01-19-2008 15:27:15

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If I wasn't wearing deere underware I would switch colors -the ceo recently recieved a 14.8 million dollar bonus.I don't care how or what but nobody deserves a bonus like that!!!!!

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DiyDave

01-20-2008 15:44:06

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Hee Hee- he's wearing John Deere underwear. Are they underoos?

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Steve in MN

01-20-2008 13:38:56

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Sadly, Deere's profits probably have more to do with the governments subsidy of ethanol production than anything the CEO did.

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rrlund

01-20-2008 10:31:18

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Just wish I had bought stock four years ago for $60. Price went to $166 in November,split 2 for 1 and was selling for $83. Haven't checked in the last few weeks. I threw my JD green underwear away 5 years or so ago though. Not for the reason you give,but because of the whole "we're John Deere,we don't have to" attitude of the dealers around here.

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John M

01-20-2008 09:39:51

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

So thats why their parts are so rediculousy priced..... ..

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Bob

01-20-2008 09:53:48

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CEO salary vs. price of parts... in reply to John M, 01-20-2008 09:39:51

If's that's the case, someone at NH/CNH/FIAT must be getting paid well, too!

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John M

01-20-2008 11:50:17

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Re: CEO salary vs. price of parts... in reply to Bob, 01-20-2008 09:53:48

I meant it more as a joke than anything, but.....Heres an example, accually 2, my neighbor has several brands of old tractors, mostly John Deeres but as I said has several others. He paid 28 bucks for a peice of 3/8 copper pipe, with nuts a ferrels already on them, paited John Deere green, I made the exact same peice for 3 bucks getting the peices at Lowes. One day just for the heck of it, we crossed over a seal that fit both a John Deere and a Farmall,( Idont recall the excact seal on each now) he called John Deere, I called a now out of business Case/IH/Whatever dealer. The JD seal was 37 bucks, Farmall dealer 18, local autoparts store - $7.00. Now, Im not saying the all the parts are like that, these are just my experiences.

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Charlie M

01-20-2008 08:08:35

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

You should feel good that he is making that kind of money and not running the company into the ground at the same time. The amount of money those guys make often has nothing to do with their ability to make a company profitable - just ask the IH management of the 1980's.

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caterpillar guy

01-20-2008 06:58:48

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Ok so the CEO has a college degree wich means he at the very least kept the chair warm for 4 years. My brother earns as much with a lunch box investment each year as I GROSS so does this mean he should be giving some back NO it just means his earning level is higher than mine and it should be. He is an engineer with the degree and yes he is from the farm. Now I own my own business and I don't mean the farm. So then with a high school education I should earn more like the CEO of Deere as I own the company. I don't believe that in the end I'm any different than he is just chose to go down the different path. As for the line worker and CEO they both need each other the CEO to manage and direct ,the worker to assemble. Much like the old arguement fo dispatchers and truck drivers they need each othere too. NO driver no delivery and no dispatcher no frieght.As for the new guys and lower wages they just took lessons from the auto indutry there. Besides the unions were breaknig this country with the if a little is good more is better as they priced them selves out of business.Just the way I see it.

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Spook

01-20-2008 06:10:46

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

You could argue that the guy got lucky, without that ethanol subsidy, Deere wouldn't be selling as many units.

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Bret4207

01-20-2008 05:49:06

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

The stockholders elect the Board of Directors who approve that stuff. If you were the CEO would YOU turn it down? Someone has to push the BOD out and get some responsible folks in there.

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Gun guru

01-20-2008 02:18:52

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

I must make one other comment here. The Deere CEO salary is stupidly high. But what must happen is that all these rich guys and women that are millionares of big corporations should see how lower middle class people live and outright poor people. Make these a$$holes goto apartment buildings, lower middle class neighborhoods (just the white suburbs I am talking about) and see what it is like to live in a 800sq foot house with 1 bathroom. See what it is like to make $11/hour and drive an 8 year old car. If these high mucky mucks did these things they would donate more of "their" money to worthy causes. I know of upper middle class people that are soooo cheap that you would have to stick a gun in their face to put $20 in the church offering plate.

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hayray

01-20-2008 05:18:47

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Re: John Deere compensation in reply to Gun guru, 01-20-2008 02:18:52

How do you know that the Deere CEO didn't start out that way? So he is only in that position because he is rich, he started out that way? You know you are starting to sound like a Jenny supporter more and more, are you sure you didn't vote for her? You know there is nothing wrong with capitalism guys.

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Gun guru

01-20-2008 06:24:21

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Re: John Deere compensation in reply to hayray, 01-20-2008 05:18:47

I despise Jenny. I would bet that the CEO of deere was born with a silver spoon in his mouth, was never a farmer, went to an ivy league school and lives in a mansion--(stuffed with cash) I dont hate rich people. Just most of them dont deserve the salaries, especially public companies. Shareholders need to vote on salaries, not just board members deciding.

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hayray

01-20-2008 10:23:31

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Re: John Deere compensation in reply to Gun guru, 01-20-2008 06:24:21

Ok, lets' find out. There are enough people here on this board that some one oghta' be able to find out info. about the Deere CEO. My point is that many of the opinions here seem to think that if the CEO didn't get paid those big bucks then the money would be passed on to you poor souls, - that is not true at all. I sell my agricultural products to a lot of rich people, with out them I would be real poor and unable to make a living farming. Most of the rich people I know made all their own money and started out with more modest lifestyles then they now enjoy.

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Rob in Indiana

01-19-2008 23:48:33

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

I know everyone is going to flame me here but look at it from the CEOs perspective.

I am service manager for a large mulit branch construction equipment dealer. Every january I receive from the main office a list of goals they expect the shop to achive for the year.

Included in this list is the $ amount of invoiced service{parts and labor}they expect the shop to bill for the year.

If I achive my list of goals and make my service $ threshold I receive a bonus. My service $ threshold for 2008 is $700,500.00 which will pay me a $5400.00 bonus.

its a tough goal to make as the $ amount raises every year and you do WORK for that bonus money but its incentive for achiving a goal.

CEO of Deere is no different. Stockholders and the company board expect him to lead the company and for company to MAKE money.

They have put incentives into place that keeps him motivated to achive the goals laid out to him.

Considering that Deere stock has recently split off and company profits are at a all time high I say hes earned his bonus.

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B-maniac

01-20-2008 18:55:38

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Re: John Deere compensation in reply to Rob in Indiana, 01-19-2008 23:48:33

And how much of it did you share with the people under you that made you look good??? If it is agreed that all on the team are integral parts and equally important then why the lopsided wages??? The only person in a company that should make more than anyone else is the one with more dollars or time invested in the first place. You shouldn't get more money just because of the color of your shirt. Unfortunately those ARE the rules of the game. The only way to beat it is own the bussiness and not be an employee of anyone. If you are content to be an employee then live with it cause it ain't gonna ever change. Just remember , though , once you have employees of your own , remember what it was like when you was one!!

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Jim in N M

01-20-2008 08:00:18

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Re: John Deere compensation in reply to Rob in Indiana, 01-19-2008 23:48:33

Sounds like you have to screw a bunch of costumers just so you can make your bonus, So whos kidding who. just goes to show what greed is all about.. Jim in N M

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Rob in Indiana

01-20-2008 09:49:53

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Re: John Deere compensation in reply to Jim in N M, 01-20-2008 08:00:18

Yea.... I screw everyone who brings a machine in for service. Thats why Our shop work load has grown every year for the past 4 years and our shop has turned a profit.

Some of you narrow minded thinking guys will never understand how business is done in the real world and would rather complain about your low wages and such rather then change your lot in life.

No one is going to give you anything in this life. what you achive is directly related to your efforts..... edcuation, work ethics, ect.

But its easier to tear down a guy who has been sucessful then put forth the effort to inprove your own condition.

Life is hard, and its even harder when your stupid.

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Mike M

01-20-2008 05:08:40

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Re: John Deere compensation in reply to Rob in Indiana, 01-19-2008 23:48:33

The trouble with "quotas" is that you are pushed into "makeing up" work all to the detriment of your very own customers.

Midas and Monroe are infamous for this. You take your car in for a muffler and before you know it your brakes and struts are also shot and all "need" replacing. Alot of people get taken at these places.

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335LP

01-19-2008 22:45:14

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

He better enjoy it while the gravy train lasts....won't be another raise when it's all made someplace else.

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Bob

01-19-2008 23:24:18

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Re: John Deere compensation in reply to 335LP, 01-19-2008 22:45:14

WHY won't he get a bonus when "it's all made somewhere else"????

The stock market doesn't care, the Board of Directors doesn't care where it's made... as long as it can be made CHEAP and sold HIGH, the company makes money, and the CEO looks GOOD.

WHO CARES about the jobs that were lost in the process, certainly NOT the stockholders, or the Board, as long as there's good PROFIT!

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Think about IT

01-20-2008 14:13:58

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Re: John Deere compensation in reply to Bob, 01-19-2008 23:24:18

Keep raising the prices of everything yes everything and lowering profit margins for farmers and who will be left to buy it? Politicians and fed regs bought off by by big corporate types has ruined this country of once free enterprise for ALL ! What happened to liberty and justice for all?

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RobMD

01-19-2008 20:05:01

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Deere is corporate just like the rest of them. The chairman is on his way to the elite 1%, and that is ONLY due to John Deere licensing of shirts and other garbage. Amazingly, Deere items are found in the worst section of the Bronx.

Cashing in on a name. John Deere himself would be appalled.

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35A

01-19-2008 18:04:55

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

What the h is he going to do with 14 million dollars??? He already makes good money. That kind of money would suck a persons will to work right out of them. If you had that kind of money, would you get up 5 days a week & go in & bust your as???? Next, we will read about Deer being bought out by the japaneeze, or Chineezze, or Binlaudin Inc. I think this country is still going in the wrong direction. We can compete with the other guys if we made our mind up to & beat their pants off! Whats it going to take to wake people up??

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Lee in Iowa

01-20-2008 09:27:17

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Re: John Deere compensation in reply to 35A, 01-19-2008 18:04:55

He could do like guy that used to be president or ceo of IBP take his money and buy land, bid it up against the farmers he made the money off of. Lee

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Larry59

01-19-2008 17:46:20

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Made me wonder in reply to MinnBrad, 01-19-2008 15:27:15

I told my wife once that I was worth a lot of money as a husband. She started laughing..?? Hummmm wonder if that ment I am not CEO quality? Dang!

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hayray

01-19-2008 17:40:37

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

CEOs make decisions that either make or causes losses of hundreds of millions of dollars. The common opinion here is that the line workers are just as smart and important to the company as the CEO and if he did not get that big bonus that the money would be passed on to those workers and the equipment would be cheaper - Hardly in many cases. Most studies actually show that CEOs are worth what they are paid even though there have been many corrupt CEOs.

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Mike Burton

01-19-2008 16:16:15

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

From what I've heard around here,(S.E. Iowa), the retirees and the new hires are getting screwed big time. I don't know all the details, but plenty of the retirees are pissed off. The new hires are doing the same work as the older guys for a lot less pay and benefits. They've got to pay for the ceo's bonus somehow. So it goes with American manufacturing.

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Gun guru

01-19-2008 15:49:37

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Isnt it sickening. But if you owned deere stock it is up to $140 or so, at least it was a month or 2 ago. A friend of mine bought some at $77 and it went up to $140 in about 2-3 years. I agree that CEO salaries need to be voted on by ALL shareholders.

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gene bender

01-19-2008 19:20:06

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Re: John Deere compensation in reply to Gun guru, 01-19-2008 15:49:37

Better check again as they had a split.

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Paul from MN

01-19-2008 15:45:21

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

A 14 Million dollar bonus is crazy. However, for a company Deere's size it seems in line with CEO compensation.

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Jason1(Pa.)

01-19-2008 15:37:04

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

Its like that with every company it seems. The CEO's make it all and the poor people that actually do all the work are getting nothing. Its not like the guy is saving people lives or something. If a Dr. would find a cure for cancer tomorrow he probably wouldn't even make that much!! These Multi million dollar bonus's are crazy. John Deere better watch it cause I've heard stuff threw the years that could probably put them under if they keep doing stuff the way they do it. Its a shame

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sparkplug

01-19-2008 15:31:18

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Re: John Deere compensation in reply to MinnBrad, 01-19-2008 15:27:15

yeah i'm with you. it's all about the money these days. thats why the price is goin UP, and the quality is going DOWN. sigh...even john deere.

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