Executive compensation is just out of control. If they run the company
into the ground, they get tens of millions of dollars. If they do an
even halfway competant job they get hundreds of millions.
That was my point. A monkey could've been at the helm of Exxon/Mobil and as
long as he did nothing terribly stupid, they would've made record profits. A
real CEO that has turned a money losing turd into a gold mine will get my
respect and deserves to be appropriately compensated. Lee Iacocca comes to
mind. Like him or not, the guy did a good job turning the Chrysler company
profitable again. They even bought the Jeep brand on his watch. That was a
pretty smart move, although the AMC employees weren't too happy losing their
jobs. Perhaps some visionary will come to the rescue of GM. They could use a
little insight right now.
Rick Knoble
'85 300 CD
'87 190 DT
