Talk of The Villages Florida - View Single Post - Demonizing CEOs' salaries
View Single Post
 
Old 12-01-2008, 12:05 PM
Guest
n/a
 
Posts: n/a
Default

Instead of a hammer perhaps we can discuss the issue.

The comparison of salaries between CEO and sports figures is bizarre. How many people think sports stars are overpaid? Have you looked at the prices for tickets lately. I paid $350 dollars to attend the Solheim Cup in Chicago this summer. A friend told me last week Yankees tickets in the lower level were going to be priced at $3,000.00 a game. How many people can pay that kind of price. I haven't been to a Broncos game since John Elway retired.

A better comparison would be to look at the CEO's pay versus an average of the rest of the employees pay. In my company we used to get a holiday bonus, a percentage of our salary, no more. That was changed to a performance bonus based on our PSP and the companies goals. The company sets aside a pool of money for the bonus and then sets the companies performance goals. But one rule you need to know about is that only the top performers...the ones that get a exceeds expectations can get a 100% bonus for the PSP portion. The problem is NO ONE is allowed to get that rating. Then the companies goals have to be met to get a 100% funding of that portion. Would you like to venture a guess at how often that has been funded at 100%? In the 8 years this has been going on.....NEVER. Every year they send out the press release that we have made more money than ever before. Then the next week they send another....which goes like even though we met these goals we missed this one so the bonus will not be fully funded. Most times the goal is missed by so much you wonder why it was set there. I think though the worst problem is that all the incentive to excel has be taken away..no one has a reason to perform above the meets expectations level.

My CEO doesn't want to live where the company is so he flies back and forth, on the company dime in first class...when I hang out in economy. I am required to take the cheapest fare, even if it includes a 4 hour layover or flying west to go east, or I get reported to my bosses manager. I could go on about how there is no pension anymore nor healthcare for retirees but you probably already know that.

CEO's pay should be brought into line.....

No hammer just my thoughts and experiences