Posted by Goose on January 15, 2017 at 08:33:03 from (70.198.57.231):
In Reply to: Re: On Made in America posted by oldtanker on January 15, 2017 at 07:43:13:
Speaking of salaries, back in the 1970's a fellow by the name of Robert Townsend took Avis out of their financial doldrums and put them second to Hertz in the car rental business.
When he became President of Avis, he set his own salary at $30,000 per year, a modest, yet substantial, sum at the time. The Board of Directors told him it wasn't enough, he should pay himself at least $50,000.
Townsend's response was, "Right now you can't afford to pay me $50,000. When I get this company turned around and profitable, we'll talk about a pay raise".
When was the last time you saw that level of honesty and integrity among company presidents and CEO's? A CEO's primary objective is to maximize dividends for the stockholders, so isn't paying himself an exorbitant salary depriving stockholders of dividends?
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