American Axle Defers Bonus Decision During Strike

http://futureoftheunion.com/?p=6905

With 3,600 workers striking against concession demands, the board of American Axle & Manufacturing Holdings Inc. postponed acting on proposed executive bonuses and other incentives for CEO Richard E. Dauch and other executives for 2007.

Dauch has been one of the industry’s most highly paid executives over the past five years. From 2003 through 2006, he received combined compensation valued at $58 million.

American Axle postponed deciding on executives’ compensation packages “to take account of the outcome” of its labor negotiations to help determine the amount of the bonuses, according to a company regulatory filing.

Spokeswoman Renee Rogers said the board “felt it was appropriate” to postpone the package.

The postponement is a negotiating ploy, said Wendy Thompson, retired ex-president of UAW Local 235. The local represents workers at American Axle’s Detroit axle plant.

The delay is meant not to inflame passions beyond those engendered by the concession demands and strike, she said. But bonuses are likely to be bigger depending on the degree of concessions Dauch can negotiate, Thompson said.


Another arrogant CEO sticks it to the workers. He makes $58 million and they should settle for $14 an hour??

of his workers time and again. Only to turn and say,"I can't believe they would do this when the big 3 UAW was okay with it..."

FWIW, I know someone who works for AAM (management, about to lose his job, not highly paid) and said they walked out of talks today. The UAW that is. The executive here being Dauch himself. No one else is or has gotten anything in ages.

Detroit is dying, if it's not already gone.


edited: to remove my relationship to employee because I'm really that paranoid.