What makes corporate executives worth such high bonuses when the rest of us are.
March 19, 2009 1:26pm CST
I read an article about AIG and how they used their bail out money. They paid million dollar bonuses to their executives. How crappy is that? One of the big three auto makers, which is in trouble, paid their CEO $60 million on his bonus. These mega million dollar actually mega billion dollar corporations are continuing business as usual in paying bonuses to their top ex's, while laying off employees due to the economy. Any one else see a HUGE incongruity there? I live in California and teachers at all levels are being pink slipped right and left. I am going to college and have been informed that many classes are being eliminated due to budget cuts. Students, from the age of 6 to age 60 are carrying our futures in their hands. These people are going to be the ones to make decisions about our country...do you want someone in the lead that doesn't know how to read, write or do simple math? That's where we are heading. Next, how many of my fellow myLotters are independently wealthy? Be honest. I'm sure if you had enough money you wouldn't be spending the hours on myLot responding to and starting discussions. How many of us are barely getting by on retirement or disability? I hope you're getting my drift, if not I'll just belt it out. What in the hell makes these people think that they are worth bonuses of millions of dollars? Can't they look past their own inflated egos and see how much of the world is in serious financial trouble and getting worse??? What if these egotistical basta-ds took that bonus money and aimed it towards employing workers, helping the educational institutions in their area (from elementary school to colleges), helping the homeless people in providing ways for them to get off the streets and find jobs and become self supporting? I about choked when I heard about the $60 million dollar bonus, and after reading about AIG I am furious! It's the country's tax payer's money that is funding the bonuses. Even if they get taxed to recover the money, it is still the absolute stupidity of the recipients to accept the money when it was given to help bail the company out and help save the investors from losing their savings. It isn't just the rich that invest in stocks, bonds and companies; it is Mom and Dad, Grandma and Grandpa; it's your neighbors and friends who are also putting their money to work in various investments (including retirement investments) that if you followed the trail would lead to AIG. Isn't it about time that we joined in as one HUGE voice and inundate the President with letters stating that until the economy levels out and we have our teachers back and fewer people being pink slipped that these egotistical CEO's and other executives forgo their "bonuses" and that the money should go towards helping out our faltering economy. Stop and do the math. If there is an executive with a million dollar bonus and a teacher's salary is say, $60 thousand dollars a year, that million dollars would hire and maintain nearly 1700 teachers in various schools for a year! It would save the various states having to pay out unemployment and the students would receive adequate education. I am sure there will be people that disagree with me, and that is your privilege. We live in a free country that allows free speech and free thinking. But for those who do agree with me, think seriously about writing your President (no matter what you think of him) and presenting your thoughts on this situation. I know in the little town that is within 3 miles of my home, they have lost over 1/3 of the teaching staff. I believe it is nearly 2/3 because of budget cuts. Is this really right? Is it fair to deprive children of a proper education? Is it right for the fat cat CEO's to be getting huge bonuses while they are taking jobs away from their workers? Please write the President and let him know how PI$$ED this makes you!!! I sure am! Thank you in advance for reading my really long rant...it's been brewing in me for many months, and I have finally taken enough with reading the situation of the bail out money with AIG!
• United States
19 Mar 09
Be honest. I'm sure if you had enough money you wouldn't be spending the hours on myLot responding to and starting discussions. I don't NEED the money here, I enjoy being here and the money is nice, but not vital. Now, AIG says they are trying to keep some of the execs to run the company (I mentioned in another discussion about a District Clerk who had the entire staff quit when she took office and she had no one to teach her, or her newly hired staff how to do their jobs.) Now, I'm not saying they did the right thing, I'm just quoting what they were saying yesterday. I - on the other hand - think if they are bailing, then there is something wrong with the company - kind of like what happened with Enron - they were bailing like rats from a sinking ship...