April 5, 2006
While I commend the SEC in their attempt to regulate CEO Compensation practices I am amazed that no one has figured out that some how CEO's have elevated themselves to the level of FOUNDING Father's of the companies they over see. They are managers not industrialists or entrepreneurs like Bill Gates, W.D. Packard or Henry Ford, who by the way have and had an enoumous sense of responsibility to the communities where their factories and employees were located and live. There is an ocean of difference between these men and the CEO's of the 90's and the 21st Century. The CEO's of today have elevate themselves to the level of GODS while they steal and plunder pensions and benefits. Their word is worthless because no one makes them keep their promises. How is it that pension money can be included in profits instead of being paid into the fund like it is supposed to be. And why is a company rated on their profitibility rather then their viability as to how many employees they employ locally and contribute to a healty local economy. The tax base for America is erroding faster with each passing year. You cannot support a trillion dollar deficit with food service worker's tax base. I say it's a nice attempt to put a bandaid on a bleeding major artery. Until the position of managing CEO is realized and compensated for what it is it's just smoke. It's a lot easier to take over what someone else has started then it is to start something original yourself.