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What is that you say? That's nonsense? You think people would just give themselves unbelievable pay and benefits at the expense of the owner?
Well, that is exactly what happens now with the pay and benefits of senior executives at the expense of their employees. Their pay and benefits are established by a board that just happens to be made up of other CEOs and top executives from other firms and, by the way, in case you don't know, they all sit on each other's boards.
Look at Yahoo, for example. It just replaced its CEO after two years because of poor performance, and how much did she earn over those two years? More than $59 million, according to Security and Exchange Commission filings, including a $2 million performance bonus for the great job she was doing nine months before they fired her for poor performance, and that does not include whatever she received in her separation agreement.
It seems as if companies think they can outsource any regular worker's job to India, but not the executives. I bet there are more than a few MBAs over there who would love to run a company for a lot less than $59 million over two years. I'm betting you could find someone to do it for $150,000.
Then we could take the other $58,850,000 and put some people back to work.
RON LOWREY
Carrick


. . . a board made up of co-workers and others who work in similar type jobs. They will set the benefits and pay scale we receive.
. . . . You think people would just give themselves unbelievable pay and benefits at the expense of the owner?
Well, that is exactly what happens now with the pay and benefits of senior executives at the expense of their employees.
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