Harley CEO awards self $6.4 million bonus

Dailies -

By

dr-evil

Potato, potato, potato. That’s the sound of Keith Wandell paying himself a $6.4 million bonus for Harley’s worst sales year since 1999, a year in which it was also disclosed that The Motor Company accepted a secret $2.3 billion bailout in 2008. HD actually turned a $146.5 million profit in 2010, up from a $55.1 million loss in 2009. 2010 was a big year for Harley, new union contracts saw a total of 2,300 job cuts in Pennsylvania and Wisconsin plus reduced wages and benefits for the remaining union employees, for a total cost saving that will eventually add up to $50 million annually. How do you like dem potatoes?

via York Daily Record

Thanks for the tip, guy who would be fired if his evil corporate overlords found out he sent this to us.

  • James Dean Meyer

    America. Fuck yeah!

  • JRl

    “Now, I have a whole bag of ‘sh!’ with your name on it.”

  • robotribe

    I think we’ve found the next candidate for President of Haiti. He’s got the job requirements MASTERED.

  • Turf

    Dear Keith, Suck cocks in hell. Sincerely, Motorcyclists everywhere

  • NickP

    Brilliant! Maybe they’ll lay off another 2,300 so he can double his money next year!

  • DoctorNine

    When is this kind of CEO crap going to finally be made illegal?

    • http://hellforleathermagazine.com Wes Siler

      When my armed revolution succeeds.

      • Glenngineer

        When you sound the horn of battle, I will ride with you.

      • Isaac

        FFRRREEEEEEDDDOOM!!!!!!!!!!!!!!!!!!!!!!!

      • noone1569

        been trying to teach the woman how to shoot an AR while riding on the back of the buell.

    • Noah

      I agree totally, but “responsibility” in regard to business management these days is effectively understood and accepted as “screw you, I got mine”. Its an embarrassment.

    • http://pinkyracer.com pinkyracer

      when said CEO’s no longer own our government. Or when we all rise up against this inequality. But then, we’d have to rouse our fellow Americans from their HFCS & reality TV induced comas for it to really happen.

  • http://www.amarokconsultants.com michael uhlarik

    I believe this is what is affectionately called “creating shareholder value”

  • Colin

    Winner, winner, chicken dinner.

  • Skank NYCF

    Duh, winning!! I’m going to embrace my bonus and love it violently. Winning!!

    • http://www.facebook.com/beastincarnate BeastIncarnate

      He’s got tiger blood!

  • dux

    Hmmm…reminds me of a certain bunch of scum bags on a certain street in New York…

    • Skank NYCF

      Please, explain.

      • stephen

        Wall street

        • Skank NYCF

          my brain was stuck on slow. And dont forget the guys at GMC.

  • Tim

    At least HD has all those exciting new models out now.

    **facepalm**

    • Noah

      Ha!

  • Duncan

    Wisconsin workers are being hammered from all sides. Don’t you know those at the top who who do the least deserve the most?
    Too bad the stock holders can’t throw him on the production line for the next five years at their ‘new wage package’ and be forced to live off of only that. After of course returning the stollen money (aka: bonus) to company general fund.

    • DoctorNine

      Throw him on the production line? Throw him naked in a cage with 5 live badgers that have been starved for a couple months. He gets to keep the bonus if he gets out alive using only his fingernails and teeth.

  • Core

    http://www.youtube.com/watch?v=Dek-UJghg8s

    He’s probably going to do like in the above song. Take the money and run.

    I guess we no longer live in a risk reward society. If you work with the fed government, its just win win win. Screw the worker, screw the person paying taxes (actually the same really….)
    I mean, I’m a young guy, but from my perspective.. this seems to be the case. It’s like the majority of individuals in power don’t have any principles anymore. (being as they got elected to office.. this speaks volumes about the people)

    Before anyone brings in the “Its a lack of church” I’m not religious but I still have principles.

  • aadmanz

    Greed, for lack of a better word, is good..

    • Taco

      I’ve never seen the movie Wall Street because it’s about the stock market and White people. Two things I find very confusing.

  • zato1414

    I’m keeping the Buell, please somebody buy my softball! Hey Wandell can afford it…

  • http://theprojectbeta.com/ andehans

    HD does what any other big corporation would do. No surprises, sad but true.

  • Dan

    That’s the way the game is played, to make “x” amount this is what you have to do. So instead of name calling, get yourself in a position to win. You can get training,education to get in the game or you stand in line. There are millions of high school jocks,thousands of college players, hundreds of NFL players, only 1 team wins The Super Bowl and 1 player is named MVP. Guess who makes the cash? When YOU get it YOU deserve it, when the the other guy gets it he becomes the ass sucking greedy bastard. If YOU aren’t making it,it’s your fault. Start your own business and get what you want, worked for me.

    • Kevin

      Well, “I got mine, you get yours” is one way of looking at human development. How’s that working out for you in other areas of your life?

    • http://www.facebook.com/beastincarnate BeastIncarnate

      If you’re in a position to make a big bonus by screwing the company, employees, and customers then you should. Everyone else should shut the heck up because they aren’t good/smart/deserving enough to speak. Also, the huge banking crisis should be viewed as a big bucket of win. The end justifies the means, right?

      That’s a shameful world view, but one many people share. Welcome to the Club alongside such distinguished members as: “hot coffee burned me” lady, “McDonalds made me fat” guy, and more illustrious American icons. Winners!

  • Alix

    He doesn’t deserve any payment for running a company into the ground and hurting more American workers.

  • Brook

    So does this bonus mean that all of the government loans have been paid back?

    • http://hellforleathermagazine.com Wes Siler

      They were paid back before the whole thing even came to light.

  • Tony

    What drives me absolutely CRAZY about wandell is he is basically selling the long-term assets of the company to put in his pocket.

    Everything he’s doing is short-term and based on making changes to the balance sheets that will impress investors (who, like him, don’t know anything about motorcycles).

    So he’s basically trying to cut costs and turn Harleys into Japanese (or Indian) cruisers.

    Harley used to be able to charge a premium price because they stood for something. Now that they don’t stand for anything, they’re going to be competing more head to head with Japanese competition. He has made them more able to compete on that playing field, but that’s not the playing field that has made them successful . . . and they probably can’t compete on that playing field if they try.

    I think Harley has seen it’s high water mark and 10 years from now they’ll be struggling . . . but wandell will be long-gone by then counting his money. He knows he won’t have to deal with the problems he’s creating.

  • robotribe

    My gin-induced rant on the topic:

    Harley needs an American billionaire enthusiast to buy them out and ass-kick the entire brand into the current century; some one who could redefine the brand to mean something more than the cartoon cliché that it is; to redefine the brand and build bikes that genuinely APPEAL to a younger customer’s tastes; motorcycles for those who DON’T want the bike “just like grampa has” yet still want something apart from sport bikes that somehow retains stylistic qualities that are uniquely “American” and HD.

    Anybody know an American John Bloor who cares?

    • dux

      I wish it were me! But I’m about a $Bil short of $1 Billion dollars.

    • je

      Then hire Erik B back and add Roland S to the crew and watch something amazing occur.

      • robotribe

        True, amazing things are possible with those two, but methinks they’re short a few hundred million.

  • Sooner

    Boo this man.

  • slowtire

    “Harley reported a $146.5 million profit in 2010, compared with a $55.1 million loss in 2009.”

    Like it or not, it sounds to me like he did his job.

    • Steve

      Yeah, just like the guys at Enron, MCI, BP, AIG, Goldman Sachs… should I go on? It’s a question of morality and values that unfortunately is lost on most people in our money-grubbing, materialistic society. And don’t think for a minute that the jokers in the trailer park down the street wouldn’t probably do the same damn things if they had those jobs instead… It’s a societal problem!

      • slowtire

        Good luck fixing that Steve. If that was his deal, that was his deal. It’s a shareholder problem if anything. And since the HD stock went from below $14 two years ago to over $40 today, I bet they don’t have much problem with his compensation. It’s called capitalism.

    • jp182

      most of that was firing employees and getting cheaper parts, not from making a better product or restructuring the salary and perks of upper management.

      He did a good job to ensure he got a bonus.

      • slowtire

        That may be true, but at the end of the day, he did what he got hired to do, which was to put the company in the black.

      • http://hellforleathermagazine.com Wes Siler

        It was also restructuring HDFS, not real profit from sales. Just short term, drive the stock price up a bit stuff.

        • slowtire

          Don’t doubt that a bit. Those guys/girls gotta have a big bag of tricks to make that kind of money. Perfect picture with the article by the way!

          • Thomas

            No doubt. “An evil petting zoo?”