CEO Pensions: The Latest Way to Hide Millions!

FORTUNE ^ | Monday, April 14, 2003 | By Janice Revell

[Beck_isright]

For later commentary.

[valleygal]

I'm so sorry, gmo. Not that I know much about all this. Southwest is still turning a profit, I think. Maybe you could move back to AZ!! Will be praying for you both.

[justshutupandtakeit]

Don't confuse political issues with economic ones. Those countries opposition was political as was the US's motivation. Executive pay is an economic issue.

I believe the Netherlands did not oppose the Iraq effort and may have even helped. I can't recall what I am referring to but seen to remember something on FR along those lines.

[DensaMensa]

}Don't confuse political issues with economic ones.

No confusion here. It is you who is trying to politicize this ordinary economic issue and claim virtue for those nations who meddle deeply in it.

[justshutupandtakeit]

Looting is an ordinary economic issue I suppose.

Personally I would charge the Boards of Directors which allow this fraud and theft to exist with deriliction of duty. There is no economic justification for the vast majority of these overblown salaries. It is even worse than Baseball salaries.

I have no problem with enormous rewards for risk taken and payment in the form of options is much more defensible when the stock values have risen without fraudulent accounting.

Free enterprise is not dependent upon lavish rewards to drones in the CEO suites so don't even try that with me. Nor would it be happening if shareholders had any REAL say in things. In cases of actual increase in value there is a little jusification for huge salaries but clearly not in industries losing billions.

After the stewardesses agreed to cut their salaries to allow American Airlines to stay afloat the executives announced that they were transferring millions to a trust (to escape bankruptcy judgments) to fund their pensions. Actions like this bring a bad odor to capitalism and indicate total moral bankruptcy. Not that these bureaucrats are capitalist in any way more like apparacheks from a socialist regime looting the state.

[DensaMensa]

}Looting is an ordinary economic issue I suppose.

That is only YOUR definition of what is in fact Free Enterprise. (See my tag line for the rest.)

[cynicom]

All union members fault.

[justshutupandtakeit]

Free enterprise has nothing to do with looting. Nor does undeserved salaries for executives have anything to do with capitalism.

[justshutupandtakeit]

Your tag line is very Deconstructionist and has all the faults that methodology has.

[DensaMensa]

}Nor does undeserved salaries for executives

You sound like a bitter old man. Sorry.

[justshutupandtakeit]

YOu sound like a gullible young man. Or Dr. Pangloss. Sorry.

If you believe these frauds have added this value to their sinking ships (in some cases) I have a bridge in Brooklys you might like.