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A quiz. Studebaker CEO's salaries 1951

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  • A quiz. Studebaker CEO's salaries 1951

    Richard Quinn
    Editor emeritus: Antique Studebaker Review

  • #2
    I have to go with $12,500
    Jim
    Often in error, never in doubt
    http://rabidsnailracing.blogspot.com/

    ____1966 Avanti II RQA 0088_______________1963 Avanti R2 63R3152____________http://rabidsnailracing.blogspot.com/

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    • #3


      Incidentally the salary of the President of the United States (Harry S Truman) at the time was $100,000.
      Richard Quinn
      Editor emeritus: Antique Studebaker Review

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      • #4
        Those two responsible positions would have commanded $16600 even back then.

        \"QUIGLEY DOWN UNDER\"
        MELBOURNE.

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        • #5
          Interesting topic, Dick.

          I'm glad you're giving us through midnight Thursday, as I'll be seeing my Dad tomorrow (Thursday) and am going to ask him. He'll be 95 years old April 14 and his mind is quite sharp, yet. As you know, he followed the industry carefully immediately after WWII and ultimately opened the Packard dealership with his brother Milton in June, 1953.

          We'll see how close he gets to the actual figure.

          That said, I would think some research would easily turn up the actual numbers, but I'll not do that and, instead, "go" with Dad's guess and post it here just for grins.

          Edit: $99,000. BP
          Last edited by BobPalma; 01-12-2012, 01:19 PM. Reason: added guess
          We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.

          Ayn Rand:
          "You can avoid reality, but you cannot avoid the consequences of avoiding reality."

          G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.

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          • #6
            I'll say $22,500
            sigpic

            Home of the Fried Green Tomato

            "IF YOU WANT THE SMILES YOU NEED TO DO THE MILES "

            1960 Champ , 1966 Daytona , 1965 Daytona Wagonaire

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            • #7
              I will say $28,500.00.
              Joe DeMaggio made $100,000 and Mickey Mantle made $5,000.

              At those prices a house was roughly 9 times the cost of a car. That may be a good ratio today
              sigpic�Never raise your hands to your children, it leaves your groin unprotected.� - Red Buttons

              '63 Avanti R2
              '14 Boxster
              '64 GT Hawk R1 JT
              '37 Dictator Coupe
              '37 Dictator Coupe "slight custom"

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              • #8
                $19,444 but after such a great year in 51, 52 may have been higher.
                101st Airborne Div. 326 Engineers Ft Campbell Ky.

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                • #9
                  This heavily footnoted scholarly paper suggests avg CEO pay was about 38x avg worker pay in the early 50s (down from 63x in the 30s).

                  http://faculty.chicagobooth.edu/work...econdPaper.pdf

                  A graph (on log scale making it hard to interpolate...) elsewhere in that paper shows income about $300k in 2000 dollars for the early 50s. Reverse calculation with a inflation calculator (http://www.usinflationcalculator.com/) would find that $300k in 2000 to be $45k in 1951.

                  I think it was probably somewhat more than that so I am going to guess $60k.

                  Jeff in ND

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                  • #10
                    Are we talking total cash stock options ect. Or just cash if we're talking total compensation I'm going with $200,000.00 stock options were a big deal tax wise in early 50's and many were over compensated with them.
                    John

                    62' Deluxe R2 4SPD.

                    63' R1 Wagonaire

                    57' Transtar 259 punched to 312 NP540 4:09 TT Under Construction

                    58' 3E6D Stock 4X4

                    64' (Studebaker Built) Trailer Toter

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                    • #11
                      $51,000 for 1951 is my guess.

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                      • #12
                        Originally posted by 289stude View Post
                        Are we talking total cash stock options ect. Or just cash if we're talking total compensation I'm going with $200,000.00 stock options were a big deal tax wise in early 50's and many were over compensated with them.
                        Good point. This would be cash only.
                        Richard Quinn
                        Editor emeritus: Antique Studebaker Review

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                        • #13
                          I just read that a CEO at that time would earn 24 times the average wage which would put Hoffman's/Vance's salary up to around the $96,000.00 mark, however I think that is rather high as they would have other non-tax perks that execs do not receive today. They would have extensive expense and travel accounts, use of company rail cars, company supplied cars for self and family, probably use of company vacation homes/cottages etc. I would still peg their salaries to be around $70 to $75 thousand.

                          After Hoffman left Studebaker he became head of the Ford Foundation and was not noted for being frugal with himself or its other executives. Henry Ford II reportedly was not pleased with him moving the Ford Foundation HQ to California at great expense.
                          sigpic
                          55 President Deluxe
                          64 Commander
                          66 Cruiser

                          37 Oldsmobile F37 4 Door

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                          • #14
                            Since we're talking about Studebaker and not one of the big 3 I'll say $42,000.
                            "Madness...is the exception in individuals, but the rule in groups" - Nietzsche.

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                            • #15
                              I will guess $52,000 each.
                              The posted prices for gasoline and houses seem high to me for 1951.
                              Gary L.
                              Wappinger, NY

                              SDC member since 1968
                              Studebaker enthusiast much longer

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