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View Diary: Economics Daily Digest: Is high CEO pay a reward for failure? (9 comments)

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  •  The Higher the Pay, the Worse the CEO (6+ / 0-)

    CEOs are normally not inventors of major industries. They are basically hired hands who have politicked their way into corporate power. They are just another worker unless they created the industry. True entrepreneurs deserve to profit from their risk-taking. CEOs who have not been the primary force behind creating an industry do not deserve more that 10 to 15 times what an average worker makes in the corporation. They can be replaced just like any other worker. They have done nothing to make jobs and a better economy. In many cases greedy executives give themselves raises and bonuses when their company is going bankrupt. Witness the greed in Enron for example. GM,...and a host of other corporations have CEOs that are given outlandish salaries despite their corporations losing money.

    Basically, it is greed that comes with power to name one's own salary that causes the Exxon Mobil CEO to give himself a 400 million dollar retirement package. Simply put, he is not worth any thing more than a retirement package like government chiefs get. Government executives are allowed 80 percent of their regular salary which is controlled by law so as not to be unduly exorbitant. There is no control over the greed of CEOs in the USA. Some nations have restrictions on how much compensation a CEO can be paid.”

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Wed Jun 18, 2014 at 09:39:21 AM PDT

    •  Working for Enron (1+ / 0-)
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      jeffrey789

      (in an executive capacity) was like playing Monopoly with real money, except you didn't have to pony up any of your own.  

      I'm living in America, and in America you're on your own. America's not a country. It's just a business.

      by CFAmick on Wed Jun 18, 2014 at 08:18:05 PM PDT

      [ Parent ]

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