The Dollar CEOs

[camaro5]

Originally Posted by 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.

Excellent.

Poor bastards, now they'll only have 2 or 3 Billion in their personal bank accts.

[Chemical]

Remember that a good percentage of CEOs in this country operate on 1$ salaries, i.e. Bill Gates.

The CEOs make their money on stocks given to them at the end of every year. The IRS specifies the percentage at the end of every year that they can sell to make some money.

This is exactly how things should work because it gives them an incentive to improve the value of the company.

So don't take the 1$ salary business as a huge compromise from the CEO's

[06GTO]

They dont need 5 million or whatever anyway, im sure they saved a lot up from all the money they got before...

[Chemical]

Originally Posted by 06GTO

They dont need 5 million or whatever anyway, im sure they saved a lot up from all the money they got before...

That's true, but also know whether you make $50,000 or 5 million, you spend proportionally the same, the differences is the person that makes $50G Vs. 5million will get a camaro Vs. a Mercedes SLR ( approx. $500,000) respectively.

The point is, for a CEO to accept a $1 salary is no loss to anyone of them as long as the company survives and does well, otherwise the company tanks and thats that.

At this point, I would agree that it is a pay cut only because the companies are struggling. After they get over the hump and the company begins to recover in terms of stock, I'm sure they much rather have a $1 salary and sell stocks for money than the alternative.