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Saturday, June 28, 2008

American Axle's Dauch Gets $8.5 Million Reward for getting rid of 2000 workers plus

Including stock awards and other compensation, Dauch received $18.7 million in 2007, according to the SEC document.

The bonus was a reward for the May 23 contract reached at the end of the three-month strike by the United Auto Workers at the largest axle supplier of General Motors Corp.

About 1,600 employees have taken buyouts or early retirement, according to United Auto Workers Local 235 President Bill Alford Jr. The company estimated 2,000 of 3,650 union workers will leave.

In also giving bonuses to Chief Financial Officer Michael Simonte and Chief Operating Officer David Dauch, the board's compensation committee cited the executives' ``accomplishments and commitment during a period of significant change in our industry,'' the filing said.

Labels: Dick is right. American Axle. Right wing economic policy. Unfair labor practices. Union Busting. UAW

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