This is a guest blog submitted by Kash@Dollarish Last week Barack Obama asked CEO’s from companies to give up their bonuses to help out their employees during a tough economic crisis. I think it’s a great that the President is stepping in and suggesting this, but most CEO’s shouldn’t give up their bonuses. There are obviously special cases like Dick Fuld (Lehman Brothers) who made millions while Lehman Brothers stocks crashed and thousands lost jobs. If there are others like him, then yes force them to give up bonuses or severance packages.
Times are tough but CEO’s have a position for a reason, and asking them to sacrifice their earnings is a tough call. If they choose to do so on their own, then they’re great human beings and should be applauded for it, but they shouldn’t give up anything on the suggestion of our next President. Most people, everyday people like you and I, in a CEO’s position will not give up their bonuses or severance packages, so why should company CEO’s?
Do you think company CEO’s should give up their bonuses or severance packages to help out their employees? Why or why not? If you were in a similar situation, would you give up your bonus?
Comments (5)
if a CEO is a millionaire and has a comfortable life then giving up their bonuses shouldn't be that big of a deal. they should help out their employees if they can.
If the company was thinking of laying off people to relieve the financial crisis that it is facing then I think the CEO should cut down their own bonuses for the time being. Because from the company's point of view, downsizing will has a detrimental impact on the company (eg. employees will feel insecure and thus not motivated.)
Nonetheless, to get through the rough time like this, it really relies on every individual employee in the company rather than on the CEO alone.
" If there are others like him, then yes force them to give up bonuses or severance packages. "
So yes, they should give up their bonuses. Because Obama doesn't have time to go to every compnay in the U.S. and do a personality evaluation to see who's stealing money and who's nice. I know for sure about 99% of company CEO's are using their company's money for unnecessary means. And their getting their fat paycheck for being able to talk to people and download their degrees online. =/
Ever wonder what a CEO really has to do? I do. Everyone thinks it is a cushy job. But I would be willing to bet they have a lot more stress and responsibility than most people give them credit. A bonus is (well, should be) something extra for doing a good job during the year. A "Thank You" of sorts. So, if the CEO has done a good job (ie, the company is doing well) than I do believe they should still receive their bonus.
I'm not a CEO and probably won't ever be but I think their bonuses are justified (obviously not in the Lehman's case and other cases similar to it). Sure, they make money but they work just as hard and long hours at that too. It would be nice for them to share their bonuses just during this hectic time but it should be up to them.