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Article: GM paid Walter Chrysler a whopping $600,000 a year.(General Motors Corp.)(Walter Percy Chrysler)(Brief article)
- Article from:
- Automotive News
- Article date:
- May 26, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A few weeks ago, we told you how General Motors mastermind Billy Durant missed buying Ford Motor Co. in 1909 because he couldn't raise a couple of million bucks.
Durant didn't have to think about buying Chrysler Corp.; there was no Chrysler Corp. And besides, Walter Percy Chrysler worked for GM. With a salary of $600,000, Chrysler was the highest-paid employee in the auto industry. In those days (1916-19), $600,000 was a staggering sum. It is about $12.3 million in 2008 dollars.
Walter Chrysler had put Buick back on its feet, and, as a reward, Durant made him GM executive vice president in charge of ...