I’ve been saying this for years, nice to see someone else hammering on the ridiculousness of CEO pay as well:
I’m not big on kicking CEO’s and playing “bash the latest CEO compensation report†but this is pretty freaking ridiculous – Ford CEO: $28M for 4 months work. Seriously, some kids want to grow up and play in some sports league and make millions for playing a game. When I grow up… I want to be CEO of a terrible company so that even though they continue to suck, I will still get paid off. Let’s ignore how staggering the losses were over at Ford (though it’d be hard to miss $12.7 billion dollars) and just think about how all the goodwill and morale boosting they try to do over there at Ford can be negated by just one footnote in a financial report.
Seriously — I don’t understand why there’s not a movement to reduce CEO compensation when there’s clearly no logical reason to pay CEOs millions of dollars even when a company is profitable, much less when a company is losing billions of dollars. But, as far as I know, there isn’t.
The author says “your front line workers are going to get angry” when they notice how overcompensated these guys are… but I don’t see that at all, or at least I don’t see it having any overall effect on the way companies do business. This sort of thing has been reported for years and years, and I don’t doubt that workers that read about it get angry.
But, whether the folks on the front line are happy or not seems to matter very little. I don’t see any instances of workers walking out en masse or demanding raises or that the CEO be paid less. I’m not sanguine about the prospects of this changing in the near future.
