Saturday, November 29, 2008
Wouldn't It Be Cool If US CEOs Were Like This
Waiting in line to buy lunch is a bit much. His time is still worth maybe ~1 million USD a year in terms of the productivity he brings to the economy, even if he declines the paycheck.
Obviously he disagrees. His behavior says that he knows he's no more valuable than his other employees, that without them his company couldn't function, but without him, it'd probably get on just fine. And that is something that US CEO's refuse to accept.
What is disgusting, is when CEOs continue to ramp up their pay while slashing jobs and wages all over a company. They continue to give themselves pay rises, and those of their close lackeys, but make life horrible for those in the lower rungs of the company. THAT is not right. If the company is falling on hard times, it is usually to do with poor leadership, so there is no justifiable reason why they should be getting more money.
Perhaps slashing his salary to such a low level that he is starting to have financial issues himself isn't the best idea, as it may divert his attention from his job of getting the company back on track, but not giving himself pay rises is indeed the right move.