How We All Can Stop Excessive CEO Pay

Daily Herald (Arlington Heights, IL), October 9, 2008 | Go to article overview

How We All Can Stop Excessive CEO Pay


How we all can stop excessive CEO pay

Are you signing proxies for companies in which you own shares?

Do the companies pay their top executives millions of dollars each year in salaries, bonuses and stock options?

Do the recent salaries printed in the Daily Herald seem excessive to you?

Take action! Sign "no" on the proxy and send a letter explaining your reason.

Use this prototype as an outline for your own letter:

"It has come to my attention that the CEOs of our company receive exorbitant salaries and other compensation. This to me represents greed and is a form of stealing from the company, shareholders and customers. It creates class warfare and bad feelings between unions or hourly workers and their bosses. It simply is neither right nor necessary.

"I will vote "no" on all of my proxies where the CEO or board of directors or any other employee receives a higher annual salary and other compensation than the United States president.

"For your information, a CEO income of $32 million is 1,985 times the lawful minimum hourly wage.

"This employee salary discrepancy is excessively vast.

"I believe in free enterprise where business entrepreneurs with great ideas that bear enormous risk reap unlimited rewards of income.

"However, this income reward should not transfer to mere employees that rise to the height of CEO and/or board of directors.

"In light of the recent corporate trouble at Enron, Fannie Mae, Freddie Mac, Merrill Lynch, AIG, A.G. Edwards, Wachovia, United Airlines and others, the executives with the high paid salaries should immediately insist on a self-imposed salary reduction of epic proportions.

"This action would be ethical and moral.

"Please protect our investments and stock shares form these unscrupulous greed mongrels."

Janis Schroeder

Inverness

An alternative to the bailout at half price

Heres a bailout! Only $350 billion.

Give $1 billion to each American that 1) paid income tax the last three years on annual income of $150,000 or less; 2) nongovernment workers, except emergency personnel, police, fire; 3) all veterans.

Tax the above a one-time lifetime tax of $200 million and leave us alone.

Immigrants from around the world can have our jobs, with only a physical and background check and also become American citizens.

Politicians, unionized public workers, greedy executives, oil speculators, Wall Street, whatever you want to call them, etc. its your turn to sacrifice, support and save our country. Were tired.

John Issel

Elk Grove Village

Pelosi shows shes unfit to be a leader

Nancy Pelosis speech before the House in an effort to rally support for the financial bailout bill was absolutely disgraceful and reprehensible.

She is either a conniving politician who hoped the bill would fail in an attempt to gain political advantage for the upcoming election, or she is a mean-spirited, partisan politician who has no business serving in her role as speaker of the house.

In either case, she is unfit to lead. America deserves better.

Her attempt to lay this crisis at the feet of Bush and Republicans is comical. The facts are out there; unfortunately you will need to dig them up yourself, since the lame-stream media is pathetic.

Start by Googling "community reinvestment act" and follow the money. It leads to many Democrats, Dodd and Obama to name two.

Ron Riba

Rolling Meadows

Troubled times

demand leadership

These are troubled times, perhaps the most troubled financial times since the Great Depression.

A financial panic, brought on by eight years of excess, poor governance and lousy execution on Wall Street and in Washington.

I think by now all Americans understand that there are going to be consequences for these actions led by a Republican Congress and White House. …

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