by M. F. Cunningham

Created on: August 07, 2010

Congress should definitely set limits to corporation executives compensation plans. Unfortunately, the Obama Administration bailed out many of these corporations because of their inability to run their companies and corporations successfully. For this reason and this reason alone I am for setting limits on their compensations.

 The corporations viability and sustainability rest on the backs of taxpayers money for their survival. Without those tax dollars many of these companies and their workers would be standing in bread lines.

Most of ask the question, “what is a CEO's worth to an organization”. Apparently, whatever the worth was at some point did not do any good for these companies. They were all headed for bankruptcies had the Obama Administration and bailout money not stepped in and come to the rescue.

 It appears as though most of these corporations hired CEO's that were incompetent and lacked the ability and know how to run a successful corporation. All we have to do is look back and see how Enron was run and the salaries that the top executives made. Yet they had no idea how to run a corporation and subsequently the company failed. Good thing we did not have to bail them out too.

 It is also my belief that salary caps will ensure that only CEO's who really want to run an organization will accept the positions. The desire to make an organization successful and profitable will be the deciding factor and not the lure of huge bonuses. We have seen far too often that CEO's run corporations into the ground to receive big bonuses as a way of getting rid of them. These tactics were too commonplace and dishonest.

 Accountability is the key, and in the past corporate executives showed no accountability for the large salaries they received. Let's put an end to corporate greed!

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