An open letter to all Congressmen and Senators:
You find that executives of some businesses are earning too much money. Terrible isn't it? At the same time some of those businesses are losing money, excessing employees, and even asking for government assistance. Your answer has been to require those executives not to earn more than $500,000 annually. I don't know if you have noticed, but the federal government is losing money right now also. Why not accept some of your own advice. I suggest until you balance the federal budget at 2008 FY spending that you lower your annual salary to $1. When the government again runs actual surpluses in the budget then you can again resume your salary.
Whadayasay?? Help out the little guy...the taxpayer.
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Doesn't half-a-million dollars still seem like quite a bit of money. I'm living on a much smaller budget, but I'm also not running a company into the ground. Wouldn't requesting federal assistance reflect badly on job performance? Why would a company pay so much money for such mediocre (sp? it's 4am) management skills. Pay me $500,000, I'll gladly run the company into bancruptcy as well.
ReplyDeleteTheoretically, when you tie salary to the performance of the business, you should see an individual motivated to see the business perform well. Too often the bonus incentives are NOT correlated to business performance.
ReplyDeleteI think there is a long line of people willing to take the $500K to drive a business into the ground. But I don't think they really want to assume any of the related responsibility.
Thanks, Jon. Great thoughts. Please share this blog with as many enemies as you can think of.
From what I have discerned lately concerning CEO's who have mismanaged the business under their control, they have assumed no responsibility whatsoever for the company's downfall. They seem to claim it as their "right of passage".
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