American workers have watched their CEO compensation packages soar from 10 times the average workers salary in 1970 to more than 500 times the average workers salary today. The criticism from all corners has abounded. I think these critics are just not looking at things from the proper prospective. You have to look at things from the executive’s point of view to form a fair opinion.
First, you must be concerned for their children. The cost of their private education and upbringing in America’s best private schools has simply gone through the roof. Trying to get the tax payers to foot the bill for this in the way of vouchers, etc., has simply met too much resistance in most areas. And, as everybody knows, the price of a decent nanny is simply disgusting.
Then there is, of course, the costs of their housing. Mansions don’t cost a million dollars like they once did. And the upkeep – boy, those gardeners and those pool attendants and those butlers and those maids and those cooks simply aren’t cheap anymore. Plus, nowadays, you have to have your yoga gurus and your physical trainers and your personal attendants and, you know… your people. That has got to be a strain on any body’s budget.
Then there are always the transportation costs. Limousines and chauffeurs aren’t exactly a dime a dozen anymore. Plus you have to have that private jet if you ever expect to be able get away from anything ever. Like to your chalet in southern France or your island somewhere in the Bahamas.
And if you want to play a little on the weekend, the price of a decent yacht today is incredibly ridiculous. Have you priced a decent Maserati or a Lamborghini or even a stripped down McLaren or Porsche lately? People forget about these little expenses.
Another thing, those darn country club dues keep going up. And they come regularly.
So, you see? It just costs a lot more to be a corporate executive these days, plain and simple. Just how on earth would you expect them to pay for these basic necessities? They can’t very well raise prices on the goods their company sells because their competition would eat their lunch. They can’t seem to get their income tax rates reduced any lower because with all the loopholes, they aren’t paying anything anyway. So they have to get their ever increasing compensation by denying you raises and promotions, by getting you to work longer hours, by getting you to pay for your benefits and health care, and even by giving your job to someone in another country that will do it for 1/10 of what you will do it for. Our executives work very hard and they deserve only the best that money can buy. So don’t forget to think about them and all of their expenses next time you’re at the grocery store passing up that succulent rib-eye trying to figure the relative cost/nutrition benefit between 73/27 and 80/20 hamburger.
Peace, Bill Mel8er.
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