The Dollar CEOs

[The_Blur]

Congress' joke of a $1 CEO is becoming reality for all of the Big 3. They will receive $1 salaries to show how serious they are about their companies. In a true demonstration of loyalty, otherwise pampered executives will earn token compensation in a bid to prove that they want their companies to prosper. While the sacrifice is not enough to get any of the companies through even a month of expenses, it sends Congress the message that not even the taken-for-granted salaries of America's top executives is sacred. Article is by Leftlane.

Applaud and discuss.

[Kyle2k]

Cool yet completely ridiculous when the banking CEO's are going on vacation and still living like their companies aren't in the red.

[CamaroScotty]

guess they're trying to match MY salary!

[The_Blur]

Originally Posted by CamaroScotty

guess they're trying to match MY salary!

I imagine your sales aren't helping you too much right now. I'm sorry to see that happen. A lot of dealers out here are feeling it, too.

[MrIcky]

Does GM really want to set itself up to hire CEO's via a lowest bidder strategy? (I know, it's symbolic this year, but CEO salary caps = lowest bidder strategy)

[Mr Twisty]

Compensation commensurate with profitability after taking the helm. And that's all I have tuh say bout thayut

[GTAHVIT]

unfair and uncalled for.

This is purely pandering to our useless politicians. Which is infuriating. You tell me when the last politician offered to pass on their salary because approval ratings were through the floor.

What a load of crap.

The CEO's do it to look good of thier own accord, that's fine. For politicians to be arrogant enough to expect it is testament to how out of touch they are. I wonder if any of them chartered a plane recently.....

[The_Stache]

Originally Posted by gtahvit

unfair and uncalled for.

This is purely pandering to our useless politicians. Which is infuriating. You tell me when the last politician offered to pass on their salary because approval ratings were through the floor.

What a load of crap.

The CEO's do it to look good of thier own accord, that's fine. For politicians to be arrogant enough to expect it is testament to how out of touch they are. I wonder if any of them chartered a plane recently.....

/off topic
Not to bring politics into but just as an example.. Janet Napalitano (Arizona gov, just announced as chair of homeland security) refused any pay raises and only makes something like 60-70k a year, and has since she took office (don't remember how long but something like 10 years).
/off topic

Beside that point.. I have always believed a CEO's salary should mirror the companies bottom line(net profit) for after all they are responsible for the entire company.

stockholders and management of companies have been looking for the wrong things in CEO's for decades now.. they aren't looking for profits like they should be, they are looking at growth (assuming growth = profits, which is untrue). The whole point of a business is to make money.. NOT to outgrow your market which WAY to many businesses have done.

[GTAHVIT]

Originally Posted by diarmadhi

/off topic
Not to bring politics into but just as an example.. Janet Napalitano (Arizona gov, just announced as chair of homeland security) refused any pay raises and only makes something like 60-70k a year, and has since she took office (don't remember how long but something like 10 years).
/off topic

Beside that point.. I have always believed a CEO's salary should mirror the companies bottom line(net profit) for after all they are responsible for the entire company.

stockholders and management of companies have been looking for the wrong things in CEO's for decades now.. they aren't looking for profits like they should be, they are looking at growth (assuming growth = profits, which is untrue). The whole point of a business is to make money.. NOT to outgrow your market which WAY to many businesses have done.

That's great, and good for her. But not the same as working for 1$ to get a loan when the government is throwing billions at banks.

[Hylton]

Originally Posted by diarmadhi

stockholders and management of companies have been looking for the wrong things in CEO's for decades now.. they aren't looking for profits like they should be, they are looking at growth (assuming growth = profits, which is untrue). The whole point of a business is to make money.. NOT to outgrow your market which WAY to many businesses have done.

Exactly!!

[Inspector 17]

Originally Posted by gtahvit

unfair and uncalled for.

This is purely pandering to our useless politicians. Which is infuriating. You tell me when the last politician offered to pass on their salary because approval ratings were through the floor.

What a load of crap.

The CEO's do it to look good of thier own accord, that's fine. For politicians to be arrogant enough to expect it is testament to how out of touch they are. I wonder if any of them chartered a plane recently.....

I agree with you. The banking CEOs should be forced into the same situation. But let's get serious. Even if they take a $1 salary (which will probably help them with their taxes), they are still going to a boat load of stock and perks (housing allowance, car/car service, food allowance, etc, etc, that doesn't fall into the "salary" category. I am sure you won't be seeing them on the unemployment line any time soon.

[GatorBlue371]

Originally Posted by gtahvit

That's great, and good for her. But not the same as working for 1$ to get a loan when the government is throwing billions at banks.

its all part of a corrupt system.


not to say they are living by the wrong set of rules, but the people who drew up the rules are playing with loaded dice.

[Mr. Wyndham]

It may not be the exact case this time, but;

They're called loopholes, and they aren't accidents anymore.:(

[GTAHVIT]

Originally Posted by GatorBlue371

its all part of a corrupt system.


not to say they are living by the wrong set of rules, but the people who drew up the rules are playing with loaded dice.

That's a pretty good anology.