Okay, this article couldn't come at a nastier time for me. I was more than a little annoyed today to find out that my unemployment benefits ended a month earlier than I expected and even thought I'm very experienced at what I do and I've searched for quite some time that I haven't found a job yet.
Then I read this article. Grumble, grumble, grumble. Now, I'm all for paying the executives what they're worth so please don't misunderstand this a complaint for how much executives make. Most earn what they do because their jobs are difficult and they need to look a certain way to do business. Yes, it's a fact of life so get over it.
Seeing that I'm unemployed and am having a hard time paying all my bills AND I have three children to take care of with little help at all from my ex because he was recently laid off doesn't make me go giddy over this article.
How do I feel about him retiring with all that money? Well, that's up to the company. If they can afford to lose the money then its their problem. I think companies that can afford a salary like that should be a little more honest with themselves and pay the others better, but people have to also understand that breaking hundreds of thousands of dollars does not go a long way when you break it down for thousands of people.
If my company ever got that big would I pay my executives a lot of money? You bet! I don't think it would be as much as this guy received, but I like to reward people with incentives to do a good job. I would never promise the world up front because you just can't do that. I can tell them what I'd like to do and how much value they are to me, but I can't just go giving money away.
If they had to let him go, which seems to be the case, then why did he get severance? I'm sure it's because they have to match the same rules as the other employees, but I hope next time they put a cap on the level of severance.
Well, I'm just annoyed by the whole thing because I'm broke, scraping, and looking (pssst - buy some books--most of it goes to authors and staff, but I do get a wee bit). I believe in free enterprise and people should be paid what they're worth. Obviously he wasn't worth that much.