CEO Pay and Retirement [View All]

We have all heard the claims that the pension plans given to union workers are causing the companies that provide them to go bankrupt. I contend the real problem for these companies is the retirment packages and the pension plans these companies give to there cheif executives including the CEO. For example, Jack Welch, of GE , was given a fanal salary of $16.7 million. He was also given stock options that were worth $250 billion. Finally, he left GE with a pension of about $9 million a year.

Reading "Perfectly Legal" makes you really angry to think about how so many people complain about how unions are causing companies to go bankrupt. It is just ridicoulous to learn about some of the things some CEOs of companies do with the corporate jets. F. Ross Johnson, of RJR, once flew his dog home on the company's corporate jet. Ken Lay used Enron's company corporate jet to fly his daugther and her bed "across the Atlantic" because her bed would not fit on a commerical jet. These are the real reasons companies are going bankrupt.