Posted on 04/09/2008 2:42:49 PM PDT by Rufus2007
It’s all the rage with Democratic presidential candidates – vilifying the haves to win over the have-nots.
However, the class warfare card is also in play for recent Pulitzer Prize winner Steven Pearlstein, a Washington Post columnist. Pearlstein participated in an online chat on the Post’s Web site April 8. Although he did not advocate direct government action, he told reader it’s time ostracize CEOs “making obscene salaries.”
“No, not time for government intervention, actually,” Pearlstein wrote. “But it surely is time for people to treat CEOs who behave in this way like social and political paraiahs [sic], which is probably the only way we are going to change corporate behavior.”
(Excerpt) Read more at businessandmedia.org ...
Make it to the top in your profession and you become a “clay pigeon” for the wannabes that hope to shoot you down as their way of getting ahead (as opposed to elevating their own efforts to succeed).
What is wrong with this statement? In a number of instances it is true.
I know many will say "Let the market determine compensation" and, to large extent, I agree.
The problem in these instances is that the 'Market' is not speaking. These COE's are in too many instances, working against the interests of the owners (Stockholders) and dealing with a decidedly closed system in the determination of compensation.
In many cases the Boards of these companies are not truly reflective of the Stockholders interests, able to inflict Majority Tyranny or able to divide the voting base so as to virtually control and operate these companies in the absence of any semblance of Corporate Democracy.
Flame away.
I know a CEO who refused to accept a MILLION dollar bonus for himself because the board of directors was planning on not paying some large bonuses to several of his direct reports. He told the board he couldn't accept his bonus if they were not going to honor their obligations to pay bonuses to his employees.
"We can't pay them THAT much, even though we're contractually obligated. They would be making more money than WE are."
He moved on, and made even more money (and bigger bonuses) working for a company with a more reputable board.
The CEO millionaire WORKS FOR HIS OR HER MONEY!
The liberal politician millionaire swindles, scams , lies and cheats the American taxpayer, coddles, encourages and supports the disenfranchised funded by the taxpayer through thier never ending entitlement programs that increase every year. So for these skunk liberals to call for an all out war against CEO'S and corporations is a recipe for disaster. These are the idiots taht want to be the next president of the United States. These are certainly scary times!
There’s nothing wrong with thinking that, but as a journalists to say “ignore rich CEOs” to show them who’s boss seems like a typical whiny liberal thing to do.
Yeah, I’ve “ostracized” Bill Gates. I’m not inviting him to my Tupperware party this year. He’ll probably be so ashamed that he’ll try to deny the whole thing and pretend he doesn’t know me. Strike a blow for “corporate democracy”!
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