CEO Pay and Retirement

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.

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The original poster suggests that Corporate Bankruptcy is solely laid in the lap
of the CEO due to their salary etc. The fact is there are many reasons Corporations fail, and that’s the point.

BTW….What is this “enjoy your limited stay” stuff?

Because they run everything, and are the lifeblood of the company?

If they are not responsible, then why the high salaries and benifits packages?

Especially when the company is struggling!

they were not responsable..I'm saying it's just not their salaries etc. that are the cause of failures. Again, MANY factors are involved.

indicates a certain sense of apathy among the "leaders" for how successful or unsuccessful the company is.

Why should they care if a company they control goes bankrupt?

They still have millions of dollars, they've been looting for years and will probably bail out just before the stock really tanks.

for helping me prove it's NOT just the CEO salary as the first poster implied. You're my new bestest friend.LOL

I mean, In what way does the OP need to "get a clue"?

I wonder if our guest will inform us that its the CEO's right, thanks to the free market, to cut jobs and salaries so they can pad their own bottom line...

:eyes:

that's about five times what Bill Gates is worth, and Welch is not even in the Forbes 400. So his stock options must be worth a mere $250 million. Sandy Weill (formerly?) of citigroup is #235 with 1.4 billion. He's tied with Oprah.

I was trying to say 250 million. I did not realize until now that I had put a b in place of a m.

and every last nickel that ever went to them or their families repatriated to the company and used for compensation of laid-off employees or applied to pension obligations. The Ceaucescu treatment should be applied to people like Welch and Lay, and with extreme prejudice.