Source: Kansas City Business Journal
quote: He's giving it back to try and save his job.
quote: I have a proposal: If CEO's really think they are worth the millions they earn, they should put their money where their mouths are. They should have provisions in their contracts where if they fail to meet goals or cause a grossly negligent future impact on business, they should face instant termination with zero severance and forfeiture of prior year pay.
quote: So you are saying that he should've kept the money? I'm confused. Which is more admirable (again, not necessarily Mother Teresa here but) giving something voluntarily or having it taken away?
quote: he said iPhones were more profitable than others like Android-based phones. According to Hesse, iPhones have a "low churn rate" and iPhone users consume less data.
quote: They should have provisions in their contracts where if they fail to meet goals or cause a grossly negligent future impact on business, they should face instant termination with zero severance and forfeiture of prior year pay.
quote: The problem is, so many are being rewarded for taking risks and causing catastrophe while doing so.
quote: Wrong. A TINY minority. There are thousands of CEO's out there doing their jobs, we only hear about the tiny minority in big companies when they screw up. We very rarely see any acknowledgment for the positive side of the position.A large percentage of the idiot public seem to think a CEO's job involves sitting around doing nothing making millions, firing employees, and waiting to get fired so he can get a bonus. Nothing is farther from the truth, and I guess I'll have to put you in this category sadly.
quote: CEO compensation should be proportionate to baseline employee pay and should only fluctuate as much as baseline employee pay when going upwards--directly proportionate on a 1:1 level aside from bonuses (bonuses are earned as a result of performance).
quote: There are plenty of fairly compensated CEO's--and there are many that are disproportionately compensated far beyond what they deserve.
quote: Simple logic dictates that, for obvious reasons, your idea of proportional compensation would cause an unsustainable increase in the cost of operations.
quote: I just generally don't like to indulge in such thoughts because they lead to a class warfare Marxist mentalit
quote: No, the trick is to enduldge in those thoughts and *form your own oppinion*.
quote: If you don't question your own beliefs, how the heck do you know that they are true? Because somebody else told you so? I'm sure you can see the folly of that.
quote: Capitalism was ment as a system to deal with the value of things, what everything is worth.
quote: Currently, we've set that value at "whatever people are willing to give for it". This is wrong. Just because somebody pays a billion for a toilet roll, doesn't mean it's actually valued at a billion dollars.
quote: If money dissapears, then a toilet roll will not get you the equivalent of a billion dollars in gold in exchange for it.
quote: It's the SEC that should be addressing this type of collusion-style board room.
quote: I just don't understand how you can be a capitalist and believe in the free market yet seem to run with a lot of anti-big business talking points. How you can reconcile those two are interesting but kind of frustrating.
quote: There is only one or a handful of CEO's in a company. There could be tens of thousands, or even hundreds of thousands of employees. Simple logic dictates that, for obvious reasons, your idea of proportional compensation would cause an unsustainable increase in the cost of operations. Very few, if any, companies could stay in business if this were to happen.
quote: Okay there it is again. "Deserve". I keep seeing all these Liberal buzzwords being used, getting nervous here. Fairness, greed, deserve and "absurd" salaries.
quote: How about authors like Tom Clancy. Isn't it "absurd" that someone sitting on their ass making up stories can get that rich?
quote: Thus, pay has to fit in with operational costs while still allowing either a break even or profit. What I was getting at was say you have an average base salary of 30k, the CEO is locked to that base with a multiplier, decided by not only the board (we'll get to that) but by shareholders as well. As it is right now, many CEO's are getting 150-300 times the pay of that average (not all) which is asinine in itself.
quote: I would hope you don't, as I don't belong in that category. I realize the CEO spot takes a special person to do the job. Most people aren't cut out for it and the 24/7 sacrifice they put into their position is insurmountable and unimagineable by most. I know CEO's and have been around them for my whole life. What I don't like is greed.
quote: My point is to get rid of boards deciding compensation completely and put it up to shareholder vote.
quote: You make it sound like CEOs are the messiah when in reality, only 1 in 10,000 are _that_ good.
quote: In 2011, his _total_ compensation was 11,882,651.00. Eleven Million Dollars. So, really, has he lost much by giving back 3.25 million?
quote: Frankly I don't care. If he only gave back a dollar and said what he did, I am impressed.
quote: Morale is important but I want to see some real suffering on his part, not just a figurative gesture.
quote: Given that he's earned over 51,738,000--Fifty One Million in compensation over the last five years, 2.89 million is a pittance, or 5.6% of the total sum. It's peanuts to him.
quote: Biased math much? Assuming he made $10,347,600 this year, that measly $2.89 million represents him giving back 27% of his yearly income. But yeah you're right, he's rich so it's no big deal losing over a quarter of your income voluntarily lol. Are you serious with this?