Replies: 8
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CU Guru [1955]
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COVID-19 Salary "Stunts" by Mega-rich CEOs
Apr 4, 2020, 5:12 AM
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We're hearing of many sickeningly wealthy CEOs "sacrificing" their pay for the "remainder of" 2020. In most cases, they're CEOs of companies that have furloughed or fired thousands of employees because of COVID-19. Also, in most cases, they're giving up their "base salaries" (often a small fraction of their compensation). It's all phony & designed to soften the blow to the 1000s of peons whose paychecks are now at $0.
Bob Iger (Disney) is worth $700-mil & routinely makes $50-mil per year. He could afford to forgo his "base salary" for the next 3,000 years.
Bob Pittman (iHeart Media - which just furloughed MANY 1000s) is worth at least $100-mil & makes a "base" of $1.5-mil but has a total package of about $13-mil annually. iHeart, by the way, was a ludicrously mismanaged company (before Pittman) - but even now has virtually NO chance of surviving - with or without the COVID-19 calamity. Pittman will be fine no matter what.
Bill Ford, Jr, Chairman of Ford Motor Co, will not be taking his "base $$" for the next 5 months!! Big sacrifice for Bill, who's worth over $1-billion!! Laughable.
GE CEO Larry Culp is leaving his "base $$" too - & why not!!? Larry's already banked about $232-mil in cold hard cash over the years.
Boeing CEO David Calhoun is not taking his "$$-base" for the rest of 2020. His "base" is only $1.4-mil, but the rest of his package is structured in additional "incentives" (so-called) of $2.5, $7.5, & $7-mil respectively. That's a total of $17-mil ON TOP of his paltry $1.4-mil base. Some sacrifice! Way to pony up there, Davey Boy!!
Adam Aron, CEO of AMC Holdings (includes all those theaters nationwide that now employ nobody) - Adam is not taking HIS base, but should be OK. He's been making $10-mil per year for a long time.
Mike Roman, CEO of 3M (makers of the N95 masks) isn't taking ANY salary cut. This amazing scumbag has been refusing to sell the much needed masks to states in the U.S., opting instead to sell them at inflated prices to foreign nations (for CASH) in one of the most mercenary, traitorous acts in U.S. crisis history. A nurse in NY, Kias(sp?) Kelly, fighting on the front lines, died last week of COVID likely because of the lack of masks & other PPE shortages. Roman & his criminal underbosses should be jailed! Don't EVER buy a 3M product again!!
There are many more "CEO salary stunts" I could list, but you get the idea.
These disgusting narcissist gasbags aren't sacrificing a doggone thing.
Meanwhile though - GO CU TIGER FOOTBALL!! May we have a 2020 season, & may all Tiger Fans be safe and keep their jobs or find new ones!!
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Orange Blooded [2287]
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Re: COVID-19 Salary "Stunts" by Mega-rich CEOs
Apr 4, 2020, 6:11 AM
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So, in summary, you’re angry at CEOs whether they take a pay cut or not? I don’t disagree that some CEO salaries have gotten unreasonably high (same with professional athletes, actors, many doctors and lawyers, football coaches, some tv preachers, and the list goes on and on), but I’m don’t really see any reason for being upset that they are taking a pay cut right now because of the virus. Some of these company CEOs have cut their pay but are still paying employees also. Of course they’ll likely get all of that pay plus more back in government bail out money, but that’s a different topic for discussion also i guess!
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All-In [38422]
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Re: COVID-19 Salary "Stunts" by Mega-rich CEOs
Apr 4, 2020, 6:22 AM
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Be cool if they'd distribute their base salaries back into the system somehow , say through unemployment benefits for Americans who've been layed off or into networks that supply free meals and the like . Go a long way in their public relations where a growing resentment among the poor and middle classes exists .
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Associate AD [813]
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Good morning. Is this AOC or Liz Warren?***
Apr 4, 2020, 7:29 AM
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All-In [40868]
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it might be Bernie
Apr 4, 2020, 7:32 AM
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nah he'd keep all the money for himself
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Heisman Winner [139852]
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This reminds me of a guy a ran into at the store a few...
Apr 4, 2020, 8:14 AM
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years back. He was complaining about the employee appreciation cookout his company threw, it was a small local company. When I asked him what was wrong, he said it was not at a time that suited him, right after work, and that he wasn’t getting paid to be there. He said he pointed that out to the owner when the party was announced. When I asked if he went, he said yes, but he complained that they only served hotdogs and hamburgers, and the company could have afforded steak. He said he pointed that out to the owner during the party as well. He no longer works there. In fact, he’s worked 3 different places since then.
Being appreciative of someone doing something kind was lost on him, I guess.
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Orange Blooded [2760]
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Jealousy and ingratitude
Apr 4, 2020, 8:39 AM
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Not the two best character traits to have.
On the positive side, at least you’ll have a lot to complain about for the next few years, which will probably fulfill your hearts desires.
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Legend [19906]
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All-TigerNet [13035]
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I'm hardly sympathetic towards them but at least they are
Apr 4, 2020, 9:30 AM
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doing something.
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Replies: 8
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