Martin takes a pay cut
Printed From: Unofficial Allis
Category: Allis Chalmers
Forum Name: Farm Equipment
Forum Description: everything about Allis-Chalmers farm equipment
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=148850
Printed Date: 18 Jul 2025 at 9:32pm
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Topic: Martin takes a pay cut
Posted By: EPALLIS
Subject: Martin takes a pay cut
Date Posted: 26 Mar 2018 at 8:49pm
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March 26 (Reuters) - AGCO Corp: * AGCO CORP SAYS CHAIRMAN AND CEO MARTIN RICHENHAGEN'S FY 2017 TOTAL COMPENSATION WAS $14.7 MILLION VERSUS $16.6 MILLION IN FY 2016 - SEC FILING |
Replies:
Posted By: shameless dude
Date Posted: 26 Mar 2018 at 9:50pm
| the company could do a lot with some of that money! |
Posted By: JohnCO
Date Posted: 26 Mar 2018 at 10:00pm
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I wish he would be given a pay cut of 14,620,000! Might be worth 80 grand a year... ------------- "If at first you don't succeed, get a bigger hammer" Allis Express participant |
Posted By: DougS
Date Posted: 27 Mar 2018 at 6:27am
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I'd like to know just what those execs do that deserves $1,000,000+. This goes for any company. There has to be thousands of people out there who would do just as well for less than a million. |
Posted By: Allis dave
Date Posted: 27 Mar 2018 at 7:08am
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While that IS a huge sum of money there's a lot more that goes into that figure than people realize. I work at a MUCH smaller company and I'm not in management at all, I do assist the executives sometime, gathering information ext. I like to think I'm a pretty smart guy, but when I see some of the financials they measure, compare, and the things they deal with, it takes talent, skills, lots of training, intuition, and being willing to deal with things most people wouldn't. Do you want to spend months out the year away from your family? Do you want to create powerpoint and make public speaches to board members who are always ready to play politics and fire you for anything they don't like? So that's one very simplified reason they can make more than us. Now what grossly multiplies the paychecks is the fact that companies need and desire these skills. They also don't want the competition to snatch these people up. Let's just say this AGCO exec IS super great at what he does. How about we decide to cut his paycheck to only $1,000,000 to better use funds. He going to quickly leave to take an opportunity at maybe John Deere. Now JD has amazing leadership and AGCO hires a mediocre guy. That leadership can trickle down and affect the business. SO while I do think that is an unreasonable number, I grow tired of people who couldn't last a second in that position or that don't even know what goes on behind the scenes making these judgment calls. I can't be a manager and AGCO guy can't fix my WD45 so lets just be satisfied with our place in the world.
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Posted By: Ted J
Date Posted: 27 Mar 2018 at 7:30am
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I don't see ANY CEO worth that kind of money. What makes him worth it? I disagree with Allis Dave,,,,,if ALL companies paid their top execs the same wage as the top mechanic, they'd still be there. it's an ego thing. Can the CEO fix his auto when it quits running? Or his computer? Or his plumbing? Or his electricity? See where I'm going with this? Because of the ruination of unions, they get what they want, not what they deserve. With some people, it's a gift they have and others can't figure out how to add the final costs. Anyone's capable of doing the job, but it takes that 'gift' to make it work. ------------- "Allis-Express" 19?? WC / 1941 C / 1952 CA / 1956 WD45 / 1957 WD45 / 1958 D-17 |
Posted By: jaybmiller
Date Posted: 27 Mar 2018 at 7:38am
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NO CEO ,or other 3 letter person, is worth a buck, let alone a million or more, IF the company is running a 'deficit budget' ( LOSING MONEY). They are NOT doing their job, it's that simple. As for the ego vs pay thing, get over it. If you can't live on a palty million bucks, quit and go elsewhere. I'd be very,very happy with a 50K salary. I can easily fill the shoes of most CEOs in the hospital system here, or the universities or Ontario Hydro or 'top level' guv positions. ALL of them are PARASITES ! They do NOT contribute to the good of the company, just take,take,take... Jay ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: Gary Burnett
Date Posted: 27 Mar 2018 at 7:45am
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Maybe if Allis Chalmers would have had him back in the 70's and 80's they'd still be in business like AGCO.Just how much is a person worth that makes a company profitable and able to stay in business?14 or 16 million$ might be a bargain. |
Posted By: shameless dude
Date Posted: 27 Mar 2018 at 9:27am
| when was the last time anyone saw any ads on TV for anything AGCO or GLEANER? all I see are ads for the green and Kioti and Kabota. gotta educate people that there are others out there worth looking at! |
Posted By: jaybmiller
Date Posted: 27 Mar 2018 at 9:31am
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people only buy WHAT THEY SEE ! I was taught that working in Radio Shack back in the 70s.. 'stock in the back room won't sell until it's ON the pegs or shelves out front'. I made more commision on selling small stuff( the pegboard parts) than stereos or scanners... ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: DougS
Date Posted: 27 Mar 2018 at 9:41am
| What has AGCO done lately? Growth? Where I am located I’m seeing dealers shrinking and closing. The dealer near me no longer has a sign or a single Gleaner on the lot. I could do as much. I never see Gleaners or evev MF equipment advertised. I don’t see buyer incentives and I don’t see a dealer network - something a farmer demands. Geez, when I worked in Salem, Oregon, not exactly a hotbed of agriculture, there was a much bigger dealer than I’ve seen anywhere in Iowa. |
Posted By: Dusty MI
Date Posted: 27 Mar 2018 at 10:04am
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I've seen companies that were hurting so they hire a new CEO, and the first thing he does is have his office remodeled. ------------- 917 H, '48 G, '65 D-10 series III "Allis Express" |
Posted By: john(MI)
Date Posted: 27 Mar 2018 at 10:16am
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Peter Principle. promote a person to the peak of their incompetence! ------------- D14, D17, 5020, 612H, CASE 446 |
Posted By: caledonian
Date Posted: 27 Mar 2018 at 7:04pm
| I don't care what he's worth to the company. I do not like him. As far as I'm concerned he needed to stay in Germany. I know people involved in the company, or used to be involved in the company that echo that feeling. |
Posted By: festus51
Date Posted: 27 Mar 2018 at 8:22pm
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It's the same thing as the overpaid football and baseball players. ------------- We the unwilling Led by the unqualified Doing the impossible for the Ungrateful |
Posted By: DougS
Date Posted: 27 Mar 2018 at 8:47pm
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Sports players are more of a supply and demand thing driving wages. As for CEO's, there are plenty of well-qualified people out there who will work for less. The boards of those companies are too lazy to look for them. |
Posted By: darrel in ND
Date Posted: 27 Mar 2018 at 9:49pm
I think that the CEO wage is supposed to be directly proportional to how much money he can make a company. I the head man in charge is capable of rallying the workers together to produce more, make the company efficient, and land huge, profitable deals, well then pay him accordingly. If a company can muster up muti millions in profit, pay the man responsible for it accordingly. If a company is losing money under someone's leadership, fire em. Back when AIG went broke, and got bailed out by our government, our state's congressman justified it by saying that he voted for strict salary caps for CEO's of companies such as AIG. I cry BULL !!!!! If the CEO runs a company the way AIG was being run, a salary cap isn't necessary; accountability should be a little more in order. Some heads should have been rolled, and firings happened long before it reached that point. What's a salary cap do...? It penalizes a good productive CEO that is capable of running a profitable company. In Martin's case, I have no idea how profitable or losing he is making AGCO. If it's losing money, he shouldn't be getting a wooden nickel, and should be fired. If it's making 500 million a year in profits, pay the man. Darrel
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Posted By: Gary Burnett
Date Posted: 28 Mar 2018 at 10:05am
According to their financial report in the 4th quarter of 2017 AGCO is doing quite well anyway if it suits the shareholders then it really no one else's business how much he is being paid. |
darrel in ND wrote:Posted By: festus51
Date Posted: 29 Mar 2018 at 12:38am
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I do not think anyone in the whole wide world is worth 2 million let alone 14 million. Heck the Pres of the US doesn't get paid that much and he has a lot more responsibility on his shoulders than any sports player or CEO. If I am wrong some one tell me were my logic is wrong. ------------- We the unwilling Led by the unqualified Doing the impossible for the Ungrateful |
Posted By: Gary Burnett
Date Posted: 29 Mar 2018 at 2:53am
The President's company (USA) hasn't shown a profit ever. As Babe Ruth said when he was asked about making more money than the President at the time he said he had a better year than the President did. The CEO thats the head of a company that is worth billion$ and his decisions involve million$ maybe billion$ of profit or loss if they make good decisions then their salary is peanuts compared to how much they make the company. |
Posted By: festus51
Date Posted: 29 Mar 2018 at 2:56am
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Ok I give up! ------------- We the unwilling Led by the unqualified Doing the impossible for the Ungrateful |
Posted By: DougS
Date Posted: 29 Mar 2018 at 4:14am
As a publically traded company with current and potential investors, the public has a right to know. |
Posted By: TramwayGuy
Date Posted: 30 Mar 2018 at 1:14pm
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The chairman/CEO of Toyota makes 321,000,000 yen; equivalent to about $3,020,000. Some of that is because Japan says that the highest-paid Executive’s Salary cannot be more than a certain multiple of the lowest-paid employee. Something to think about. |
Posted By: Gary Burnett
Date Posted: 30 Mar 2018 at 1:47pm
Right to know and a right to decide how much he makes are two totally different things. So how many shares are you going to buy?Buy in for a couple hundred thousand and you might get a vote at the shareholders meeting,lets us know how it goes(LOL) |
Posted By: cnafarms
Date Posted: 30 Mar 2018 at 9:30pm
| Wow really. I totally agree that sports players/athletes/entainers are way over payed. WAY overpaid but they sell a product and "produce on the field" and help make money for there owner and sponsors. So who are we to criticize that. As for this guy or other CEOs over paid by my standards yes. However where I work and we have found out what the head hunch makes I said he deserves it. At the end of the day I don't go home and fret or talk much bout my job. I don't have dreams or nightmares bout things that could happen or may happen like some of these guys may do who are in charge. Many many livilihoods fall in this mans lap with there jobs and the money they make. He has to make a profit and keep products coming to market for the company to stay in business. Who is it for me or anybody else to criticize him on what he makes. My goodness it's capitilization and it's how the word works. It's what made this country the greatest nation God ever put on this earth. Greedy or justily compinisated ain't for me to decide. If he ran the company in the ground we'd all be complaining about that. But parts for my 1960s d series tractors are still available so who really cares what he makes or anyone else in his position. |