A quiz. Studebaker CEO's salaries 1951

[plwindish]

I'm also guessing $100,000

[Roscomacaw]

$78,942.43

[Welcome]

Remember, when Sherwood E. was hired he was the most paid, Studebaker CEO/President, at $150,000 per year.

...and remember in those now famous 1963 minutes of the Studebaker Corporation Board of Directors Meetings, Sherwood E. proposed to the BoD to hire a one Mr. Anthony Granatelli as President of Studebaker’s Chemical Compounds Div. (STP) for only $40,000.

Oh well, we'll all have to wait until Thursday, September 13th rolls around to find the answer!

[Studebaker Wheel]

Boy is my face red. Preparing to post the image above in answer to the question I find I was four years off! The figures on salaries I have was for 1947 and not 1951! The reason for the error makes sense but is complicated so I will spare you the details. In any event I do not have the correct figures for the year 1951 and cannot declare anyone to be right or wrong! However since the 1947 salaries were at $60,000 we may surmise that the figures four years hence would be somewhat higher and for Mr Vance maybe even $100,000 or more (see explanation below). If your guess was between $60,000 and $100,000 consider yourself a winner! (This doesn't necessarily mean that you are a loser if you had some other numbers!)

As a side note I might add that Paul G. Hoffman left Studebaker in April 1948 upon being appointed by the President Truman to administer the Marshall plan in Europe. After successfully completing that daunting task he resigned from the ECA in Sept 1950 and in January 1951 assumed duties as Director and trustee of the Ford Foundation. He returned to Studebaker in 1953 reassuming his position as Chairman of the Board. Therefore Mr. Hoffman would probably not have been drawing a Studebaker salary in 1951. Harold Vance having assumed the dual positions as President and Board Chairman would likely have seen a substantial increase in his pay check as a result of doing double duty.

Sorry for the error but it was an interesting exercise and I bet you learned something! I know I did! I will leave the interpretation of the figures above to you.