So CEOS walk away from companies they drove into the ground with impunity
Companies don't always fail because of the CEO. As hard to believe as it may be most CEOs actually want their company to succeed. What do they have to gain by driving it into the ground with impunity?
Huh? I stated that the CEOs were rich and would continue to be rich after their company failed. This is because most people who are CEOs are making most of their money off stock and other investments rather than their salary.
and you're saying the problem is the company isn't efficient enough to survive in the free market without subsidies
I never stated why the theoretical company was in trouble.
Maybe the problem is that companies routinely cut wages and boost CEO salaries SIMULTANEOUSLY?
Really? As someone who's actually been personally affected by this , and not some disaffected student with a part time job screaming "Down with Corporate Greed!" I realize this. I also realize that most CEOs don't make the bulk of their money from salaries. Which is why CEOs like the head of Cisco are able to cut their salaries to zero in a PR move and still be rich.
Here's a little research project for you
The only guy I could find extensive info about was the CEO of Delta. He seems to be making the most. His salary is about $800,000/year. With bonuses this comes to about $2.5 million. His stock is valued at about $10 million.
So yearly he receives about $2.5 million. I'll even add in the $10 million on a per year basis and say he makes about $12.5 million from the company.
Delta is the biggest airline in the US. For arguments sake I will say that there are 20 CEOs receiving $12.5 million per year from their companies. I've now completely erred on the side of your argument.
So.....$12.5 million x 20 = $250 million
Airline bailout = $15 billion / $250 million per year = 60 years of CEO salaries
I'd be extremely interested to see the results.
Huh? Obviously you already have these results. Why would you would debate this issue and have such a strong opinion without already knowing the facts and figures?
The fact is that in most large companies the CEOs salary ,while it's quite large compared to the average workers is a very small percentage of total operating costs. In no case I could find was it a large enough amount to keep a failing company afloat for any length of time.
Anyway, I really have only two points on this issue.
1. I'm against Corporate Welfare
2. Cutting corporate welfare hurts the workers much more than the CEO.