Wednesday, November 26, 2008

Here's looking at you, Nardelli

From CNN comes the story of JAL CEO Haruka Nishimatsu who, in response to his company's downturn, cut his benefits and pay; he now makes less than his pilots. Contrast that to the execs of the Big Three and the failed or failing financial institutions, among others, and realize that this is what the CEOs here should be doing, not floating away on $200 million+ golden parachutes after wrecking or harming their companies. . . especially if those CEOs go before Congress to beg for money without a plan to pay us back or even a plan to turn their companies around. I don't begrudge the executives of these giant corporations their giant paychecks; after all, they are paid such large sums because of their large responsibilities. If they fail in those responsibilities, however, shouldn't they also face the same financial hardships that they guided their companies, stockholders, and employees into?

I can't shake the suspicion that the CEOs in this country probably think of Nishimatsu as a laughable naïf who doesn't understand that a CEO can fail to turn a profit and still walk away with a fat paycheck. . . even if he's fired.

Consequences? Bah, who needs 'em, right?

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