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View Diary: Republican Tax Math Doesn't Add Up (30 comments)

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  •  At least Larry Ellison started his company. His (0+ / 0-)

    pay is a return to entrepreneurship. The real outrage is that people who are, essentially, career managers are also getting the megabuck paydays.
       I can see the fairness of paying tens of millions per year to a guy who takes and idea and builds a major company and then raises more money by selling shares to the public.
       But the guy who gets hired to be CEO of an already existing big company simply isn't worth the massive amounts of money they get paid at the expense of workers, shareholders, and customers.
       And what's particularly egregious is the "golden parachute" which allows them to extract tens or hundreds of millions from a company after they're fired for running the firm into the ground.

    •  Like Wachovia? (1+ / 0-)
      Recommended by:
      MPociask

      The guy that ran the company into the ground (and allowed the bank to launder drug money), Ken Thompson, didn't get his executive compensation for 2008, but still got his $1.45 million severance and accelerated vesting of $7.25 million in restricted stock, or about half of what he got in 2007 ($15,653,559). If I fail at my job I don't get anything.

    •  I don't disagree with you dallasdunlap (0+ / 0-)

      In the case of Oracle, Ellison DOES have a somewhat different standing, since it was his brianchild, and his work that grew it.

      I also agree with you that  by and large, CEOs who are "hired in " long after the success of a company has been established are not worth the millions they get paid.

      And to shortchange or cut the pay and benefits of the workers who DO the work, and work harder than ever is patently unfair.

      Call me old-fashioned, but I sincerely believe that money put into the hands of the middle class as fair pay for work received benefits America FAR more than a second yacht or fancy car for some one percenter.  or a car elevator. yeah - I went there.

      America's LAST HOPE: vote the GOP OUT in 2014 elections. MAKE them LOSE the House Majority and reduce their numbers in the Senate. Democrats move America forward - Republicans take us backward and are KILLING OUR NATION!

      by dagnome on Fri Feb 28, 2014 at 06:24:53 PM PST

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