[Spam] [Vision2020] CEOs cut pensions, pad their own

[lfalen]

Jim
Thanks for posting. Yes, this is very disgusting and has allways been the case. Not only with CEO's but with legislators and University administrators. Some CEO's who's companies are losing money have cut jobs and at the same time given themselves a raise. As Lord Action said " Power corrupts and absolute power corrupts absolutely". On the bright side though, not all CEO's are like that. There are a few that have some integrity.

Roger
-----Original message-----
From: "Reynolds, James" jreynold at vetmed.wsu.edu
Date: Wed, 18 Jan 2006 15:18:39 -0800
To: vision2020 at moscow.com
Subject: [Spam] [Vision2020] CEOs cut pensions, pad their own

> The article describes how CEO's are taking from the workers to fatten
> their own retirements. I am sure that most all of the folk on this
> exchange would expect as much but I wonder what the long range
> repercussions are going to be for industry in America. The article
> demonstrates that the CEO can do things to increase profits, such as
> freeze pension plans or sell of a plant, and that gives them the green
> light from shareholders to lavish themselves with rewards. 
> 
> I can't help but think that the long run outlook for these industries
> isn't good. Whenever (in business or not) liquidation of assets becomes
> a primary means for a company to increase profits, I'd say that business
> is not long for the market. The same problem exists for the mergers that
> occur on a daily basis. so many of these mergers are simply buy -
> cannibalize - then sell activities that in the long run our industries
> will be weakened.
> 
> I predict a major crash within three years. I also predict a very long,
> slow recovery.
> 
> I don't know crap about the corporate world but I do have some ideas
> about what is plain stupid. For shareholders to continue allowing these
> unscrupulous CEO's to destroy their investment is about as stupid as it
> gets. 
> 
>  
> 
> http://moneycentral.msn.com/content/P139870.asp
> <http://moneycentral.msn.com/content/P139870.asp>  
> 
>  
> 
> James Reynolds
> 
> Moscow
> 
> 
>