I'm all for taxing the rich and compensating workers fairly.
But:
- Had the company declined, the CEO would have gotten all the blame and been crucified. Can't give blame if you can't also give credit.
- The CEO negotiated this deal, the employees did not.
- A good portion of this $500M is from the value of his stock, which is part of his compensation. I don't know the percentage of this payout that comes from stock (WSJ paywall...), but we certainly can't take stock AWAY from him to reduce his payout.
- Employees who have cashed in their options will also make money from this deal. Other stockholders will make money too.
Again -- I am NOT condoning our American trend of over-paid CEOs. More money in the working class is good for the economy. But this event specifically is not ridiculous.
But:
- Had the company declined, the CEO would have gotten all the blame and been crucified. Can't give blame if you can't also give credit.
- The CEO negotiated this deal, the employees did not.
- A good portion of this $500M is from the value of his stock, which is part of his compensation. I don't know the percentage of this payout that comes from stock (WSJ paywall...), but we certainly can't take stock AWAY from him to reduce his payout.
- Employees who have cashed in their options will also make money from this deal. Other stockholders will make money too.
Again -- I am NOT condoning our American trend of over-paid CEOs. More money in the working class is good for the economy. But this event specifically is not ridiculous.