In the end, excessive executive compensation is one of the things that killed Marxism; the party elite rewarded themselves with dachas, cars, wealth and privilege. It made the ordinary soviet citizen even more of a cynic about the system he lived under.
Who knows? Maybe America's executives can do the same for capitalism.
Well said. These guys are going to kill the goose that lays their golden eggs.
The average American is a believer in the free market. He's fine with corporate executives making more money than the guy on the shop floor, even a lot more, especially if the organization is doing well financially due to skillful management.
Executives nowadays make far more money, in proportion to what their workers earn, than they did at any time in the past. And by and large, the workers have gone along with this, because they have mostly been doing better over the years also. Criticism of the amounts the fat cats earn has mostly been confined to the hard Left.
However, Joe Six-pack is not going to stand by while his pension is turned to ashes by incompetent bungling executives, who reward themselves with massive salaries, benefits, pensions, buyouts, and golden parachutes, while the company falls to pieces around them. There has to be accountability and if there is not, the cure will be worse than the disease.
High ranking executives had better get their s**t together now, because they stand to lose far more if disgruntled share holders ally with disgruntled workers to impose reform by legislation.
-ccm