Sioux City Journal

'Corporate royalty' continue to enjoy perks

Posted: Tuesday, March 11, 2008

Everything is taking a hit during the current recession - stocks, jobs, wages and sales. All except the perks corporate royalty continue to receive while the company tanks. Why are they exempt from risk or being fired and losing any benefits? We are told no profit, no pay, and forced to take cuts in hard times. They go home and count money.

Phillip Severson, Sioux City

Story Comments

BobF wrote on Mar 13, 2008 8:03 PM:

" If you execs spent as much time in the office as you do on the golf course you wouldn't need to have your cell phone and email follow you 24 hours a day. "

Brian wrote on Mar 11, 2008 8:56 PM:

" Go Mary. I hear you, the stress these execs have is incredible, I've been there w/o quite that large of a salary. My work, cell phone and email follow my 24hrs a day and I haven't had a true vacation day in 10 years where I couldn't or wouldn't do some type of work. These companies don't pay big salaries unless the demand for shareholder performance is exceeded....think about where all your pensions and 401ks are invested....do you want someone making $40k a year charged with increasing your stock price? These people's compensation is tied to stock performance and we all benefit from that. "

Cecil wrote on Mar 11, 2008 5:19 PM:

" It must be nice to continue being rewarded when your company is not performing. "

Pat T wrote on Mar 11, 2008 3:42 PM:

" With corporate Managers doing this look what OUR own President Bill clinton did Back in 1996. Look up Executive Order 12986 It Handed OUR National Parks Over to United Nation Countries. That's right If the United States would fal on Bank Notes The United Nation Countries Have right to Claim OUR National Parks. Look it up. "

Keith wrote on Mar 11, 2008 3:00 PM:

" Jose - Those compensation packages that are linked to profits are usually so bullet proof that the top dogs never take the hit. The CEO of Countrywide is taking heat right now because he took $21 mil from such a package "after" the company's stock tanked almost 80%. That was on top of a $19 mil salary and the $120 mil of stocks that he sold "BEFORE" the crash. Most analysts agree that executive compensation is dragging down corporate America much more than what is paid to the worker bees. "