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Oh boo hoo to these poor CEO who have fucked up. ...They might get fired. ...boo hoo! ...Give me just one year of their salaries and you can fire my ass all you want!!!!

Here are just the first few of the list...

10 chiefs in the hotseat

Top executives are generally well insulated from those problems by their multimillion-dollar paychecks, lavish perks and somnolent boards of directors. But don't think for a minute that 2008 has been easy for the CEO set. Ask Angelo Mozilo of Countrywide, Pat Russo of Alcatel-Lucent and Martin Sullivan of AIG, all of whom have been shoved aside as investors tired of their multibillion-dollar missteps.

Richard Fuld, Jr., Lehman Brothers
What he makes (2007 total compensation, from regulatory filings): $40 million. Fortune recently calculated that Fuld has made $489 million over the past decade cashing in his Lehman stock.

Daniel Mudd, Fannie Mae; Richard Syron, Freddie Mac
What they make: Mudd, $11.7 million; Syron, $18.3 million

Kerry Killinger, Washington Mutual
What he makes: $5.2 million

John Thain, Merrill Lynch
What he makes: Thain made $17.3 million last year, largely reflecting a $15 million signing bonus.

Rick Wagoner, General Motors
What he makes: $14.4 million

http://money.cnn.com/galleries/2008/fortune/0808/gallery.ceos_hotseat.fortune/6.html

plz, that's nothing. Our good friend Sandy Weil from Citigroup was given 260mil for his retirement PLUS 790mil in stock PLUS 700k lifetime annuity.

Awww...

Tell them that Grampy McSame's chief economic adviser
told them to stop their Whinning

I worked for Worldcom and we *still* bitch about how we were screwed over by Bernie Ebbers. There's nothing worse than working for one of those crooks and getting paid minimum wage for your troubles.

I was still a teenager in highschool when I worked for Worldcom call center. I made minimum wage, and when worldcom went under I lost my job! lucky me I was in highschool when it happened and I wasn't depending on that money to pay bills, etc.
I can't imagine what it must be like to work under these people who make millions upon millions and make squat and lose your job/security because these greedy assholes screw up.

Maybe those companies would have faired better by cutting their CEO's oversized salaries.

Maverick75 saidMaybe those companies would have faired better by cutting their CEO's oversized salaries.

OMg how could you ever suggest something like that? How could they maintain their Mansion landscape in Cali and personally developed island off the shores of Australia? Don't poke at the CEO's they've done nothing wrong. Just cut the wage workers - I'm sure they'll have fun at Starbucks or McDonalds . . . .

Welcome to the free world of capitalism and the intrinsic human quality of hoarding. That and of course no respectable amount of professional ethics.

blind2limits said

Maverick75 saidMaybe those companies would have faired better by cutting their CEO's oversized salaries.

OMg how could you ever suggest something like that? How could they maintain their Mansion landscape in Cali and personally developed island off the shores of Australia? Don't poke at the CEO's they've done nothing wrong. Just cut the wage workers - I'm sure they'll have fun at Starbucks or McDonalds . . . .

LOL Well easily. They're hoarding all the money and I'm hoarding all the bills.

CEO's are notorious for screwing their companies over. I say we should start a new movement and eliminate the job title. This way hundreds of millions stay within the company in order to keep them afloat instead causing the company to file for bankruptcy.

I can't believe this thread has made it this far without some freakin' d-b talking about how great the 'free market' is, or how we're all just hatin' on America's 'achievers' who create jobs, spur the economy with their capitalist awesomeness and pay more then their fair share of taxes.

Well, I thought for SURE there'd be ONE!

Heck, you guys are awesome!!

You know? You're right, Colbert. Finally! We all seem to agree on something.

Maverick75 said

blind2limits said

Maverick75 saidMaybe those companies would have faired better by cutting their CEO's oversized salaries.

OMg how could you ever suggest something like that? How could they maintain their Mansion landscape in Cali and personally developed island off the shores of Australia? Don't poke at the CEO's they've done nothing wrong. Just cut the wage workers - I'm sure they'll have fun at Starbucks or McDonalds . . . .

LOL Well easily. They're hoarding all the money and I'm hoarding all the bills.

NOoOOO they couldn't! That's impossible! They would never try to tear the fabric of our economic and moral livelyhood as we know it just for their personal gain! That's such a horrid accusation . . .

[quote][cite]Colbert_Nation said[/cite]I can't believe this thread has made it this far without some freakin' d-b talking about how great the 'free market' is, or how we're all just hatin' on America's 'achievers' who create jobs, spur the economy with their capitalist awesomeness and pay more then their fair share of taxes.quote] "d-b"? care to elaborate

Colbert_Nation saidHeck, you guys are awesome!!

Thanks!

And don't forget, while they were paying these CEO's millions in overpaid salary, Congress decided to NOT raise the minimum wage all these years, while raising their own wages. Ya think these overpaid CEO's bought a Senator or two?

Oh hell yeah! All those republicans are out there scratching each others' backs while the rest of the country burns.

MunchingZombie said

Reminds me of mister Fantastic.


Ever since I learned about the salaries of members of Congress... I don't even know. I guess I just die a little inside



I love these emo guys, more than LOLcatz. ( uh huh, I went there)

So what is the point. Yes, there a CEOs who are or were not as valuable as their salaries. But in the end the pay is the sole prerogative of the owner's of the company as determined by the company's laws which traditionally leave it to the board of directors.

Of course they have to offer that much money if they want to attract the caliber of CEO like Jack Welsh who used to run GE. Not every person who fills the job will be worth the large salary but when such few are found they are usually worth well more to the company than the salary provides. If they offered lower salaries to their executives it could easily be they would lose even more money because they would be reducing their chance of getting the right people who would go for a better offer.

geras saidSo what is the point. Yes, there a CEOs who are or were not as valuable as their salaries. But in the end the pay is the sole prerogative of the owner's of the company as determined by the company's laws which traditionally leave it to the board of directors.

Of course they have to offer that much money if they want to attract the caliber of CEO like Jack Welsh who used to run GE. Not every person who fills the job will be worth the large salary but when such few are found they are usually worth well more to the company than the salary provides. If they offered lower salaries to their executives it could easily be they would lose even more money because they would be reducing their chance of getting the right people who would go for a better offer.

Ditto

Colbert_Nation saidI can't believe this thread has made it this far without some freakin' d-b talking about how great the 'free market' is, or how we're all just hatin' on America's 'achievers' who create jobs, spur the economy with their capitalist awesomeness and pay more then their fair share of taxes.

Well, I thought for SURE there'd be ONE!

Heck, you guys are awesome!!

Here I am. Sorry I'm late. But, yes, this is the free market at work. Without these big, evil corporations, a lot of you would have no jobs.

If you are so upset by them and you making them money, quit and start your own business.

Texas"boy" who really shouldn't label himself as a man is simply online to be a little punk. He's always disagreeable simply for disagreeable's sake.

To a certain extent I agree TexMan82. However, shareholders should really be kicking up more of a fuss with some of these golden parachutes. They should hold the Board of Directors to account for agreeing to outrageously expensive contracts.

Part of the problem is that many CEO's could actually make a lot more money in Private Equity firms or Hedge Funds. Therefore, the price big corporations have to offer to attract the best talent has skyrocketed in recent years.

muchmorethanmuscle saidTexas"boy" who really shouldn't label himself as a man is simply online to be a little punk. He's always disagreeable simply for disagreeable's sake.

^^
I see what you did there. Clever.

Anyway, no, I'm not being disagreeable just for the sake of it. I truly don't have a problem with CEO's making a lot of money. It's private business. Why would I want anyone to dictate to them how much they can be paid?

I own my own business. I sure as hell would not want some outside entity telling me how much I can pay myself out of "fairness". That's preposterous.