Should CEOs of Companies supported by government draw such hefty pay packets?
By mercuryman3a
@mercuryman3a (2477)
India
February 5, 2009 10:24am CST
Should CEOs of Companies be drawing such hefty pay packets?
Obama has called upon the CEOs of companies supported by teh Government to exercise economy and cut down on the excessive salaries that they draw and the perks that they enjoy. On the one side the Government is shelling out Tax payers money to help companies tide over the economic crisis and on the other hand the CEOs of companies are taking fat pay checks. Some of the CEOs are drawing more money per month than can feed 1000 families for a full year. They can be a little sensitive and not display their opulence so blatantly. Such disparity is often the cause of revolutions so they have to be careful.
1 person likes this
3 responses
@ronnyb (6113)
• Jamaica
10 Feb 09
No they shouldnt be getting hefty pay checks on one hand and asking for a government bailout on the other hand,"the golden parachutes".In fact liek Obama said it shouldnt have happened in the first place but since it has already happened,the next best thing to do is to cap their pay now and keep that cap on their pay until this crisis is over.I have always been of the view that before any layoffs are made these huge salaries and perks must be the first thing to go.I think if Obama continues as he is presently doing then CEO pay will be capped eventually and mayeb by law
@aidenw (632)
• United States
5 Feb 09
as much as i don't like government control, the reality is if you're supported by the government then the government does have a say on what you can and can't do. so the trick is not to fall into the situation where the government has to bail you out in the first place. besides, it's taxpayer's money that's being used so those companies can't simply use it as if they earned it all. also, we're all going through a rough time right now and everyone has to tighten their belt. once the economy recovers they can enjoy the huge salaries and perks again.
@jesse022190 (171)
• United States
5 Feb 09
I don't think it is the governments place to set the salaries of CEO's even government supported ones(mainly because the government shouldn't be supporting them in the first place but that is for later). If a company feels like it should pay its CEOs large quantities of money it is for a good reason. The reason they make as much money as a 1000 families is because they, over their career, have earned the right to make that much. They have a difficult job and deserve appropriate compensation.
