The Commercial-News, Danville, IL

Letters to the Editor

July 10, 2014

No Headline Provided

Invest in America’s core

I read an interesting article about CEO salaries for S&P 500 companies. On average, CEO salaries increased 8.8 percent whereas an hourly employees salary increased 1.3 percent. For the top 10 CEO’s in this country, their pay this year was 257 times greater than that of their average hourly employee.

Lately, there’s been a shift and now shareholders are demanding performance. The top CEO who earned $67 million actually had his contract bought out by the company shareholders. I say, congratulations to the person who can make $67 million. To the shareholders who are paying this money, if you’re that stupid to think any of those CEOs did enough work to deserve that kind of pay, you truly are fools.

Work is done by hourly people. The income that supports a company comes from customers buying products built in factories and sold by salespeople. Without the product and without the salesperson, the company has nothing. Let’s start rewarding the people who actually do the work. Instead of giving $67 million to one person, let’s take $10 million of it and split it between 10,000 hourly employees in the same company. If each hourly employee made $10 per hour, each employee would receive a check for $1,000, or roughly 2.5 weeks worth of work. For those who live paycheck to paycheck, $1,000 goes a long way.

There’s a book called “Good to Great” written by Jim Sullivan. The author analyzed the top 20 performing companies on a variety of factors. One of the things he found out was companies that didn’t reward their CEO and with corner offices and huge perks but instead invested in hourly employees and income generators actually fared better and had bigger profits than companies that did the opposite.

Shareholders are beginning to realize the error of their ways and the over-inflated stock market is proof of that. Smart investors and smarter CEOs are going to realize soon the American worker could use some different recognition — like owning a piece of the American dream. It’s not enough for companies to toot that it was built in America. It now needs to be pointed out that it was built in America by people who could afford a home, buy a car, feed, clothe and educate their kids and take their families on vacations once in a while.

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Letters to the Editor
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  • No Headline Provided I read an interesting article about CEO salaries for S&P 500 companies.

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