I just sent Neal Boortz this email. It’s something that’s been grinding on me about Neal for more than a few years.
Neal, I’ve repeatedly heard you say that the salaries and bonuses for these corporate CEOs — even those who WRECK their companues — should be without limit or they’d leave the company and go elsewhere, even to a foreign firm.
Neal, MOST foreign firms DO NOT pay those huge salaries and bonuses.
And MANY of those fat checks are approved by interlocked boards of directors who sit on multiple boards and take pretty good care of each other and, in too many cases, the PUBLIC SHAREHOLDERS BE DAMNED! Does the phrase “You scratch my back and I’ll scratch yours” ring a bell?
Neal, we’ve been on the same side on many issues. It was your embrace of the early national retail sales tax that led be to Vic Krohn, Neal White and my 3 year participation as a National Board member of CATS. You know I’m a pretty solid free-enterprise, private property guy. But, with all due respect, the current system of corporate compensation has been hijacked by the good old boys network.
If we cannot get it back into some sort of balance WITHOUT government’s “help,” the gang now infesting Washington will do it for us — and we probably WILL NOT like the outcome.
Regards,
Dick
Excellent letter. That is precisely how I, and most everyone I know, feels.
Thanks.