During my morning ritual of coffee and news paper, the front page of our local rag headlined the compensation package in 2007 for the CEO of one of our local utility companies. Nearly 10 million dollars in total compensation for last year.......Hmmmm........Thats $10,000,000.00..........That sent my head spinning for some odd reason.
See, I really never give a hoot what other people make. They earned it right? Bully for them right? The fact that the Philadelphia Eagles signed Asanti Samuel to a contact worth more money annually than I'll make in my life time really has no impact on me. So why should I care. Good for him! Gates, Winfrey, Buffet, who ever they are or what ever their last name is raking in cake that seems to have no end doesn't really effect little old me does it? Not often times anyway! But this, this is different. This hits a sore spot for me. Sure, our utility is going to increase 38% over the next few years which irritates me to no end. But if thats what it costs, thats what it costs. This particular company has belly ached over profit margins, returns to investors and the like for years. OK, seems that's justification enough. John Q Public will just have to suck it up, AGAIN! But this, this is something that has got my goat. Annually, my utility bill will escalate nearly 1000.00 in the months and years ahead. Meanwhile..........Thats $10,000,000.00..........My head is still spinning for some odd reason.
With all my heart, I believe that the trials and tribulations of our economy here in the good ole' US of A is somewhat to blame on executive level compensation packages. Over the last 2 years we've read story after story of CEO's receiving large compensation packages and BONUS'S for running companies that have either sub par performances, or are actually losing money, some even closing!!! Of course the grunt workers are getting their nickel and dime raises each year if they are lucky! Normally, I really didn't care about any of it. Tonight, I'll sit down to write my check to the utility company. Perhaps I should just write, 'forward to Mr. Whatshisface, he's got enough money to pay it'.
Nah! Like always I'll just send the check in and forget about this. In fact, I think I'll head to the golf course today. Seems I can forget about just about anything there. Maybe todays the day a get my first hole in one, break par..........
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Scott - Grrrrrr.....it's amazing how high of a % the costs are going, as if there is no ceiling on what they can charge. I think they call it predatory lending in our business.