In my next life, I'm going to be CEO of a major corporation.
Since my take-home pay doesn't always take me home, I'm taking a different approach in my next life.
While a babe in arms, I was taken to church. There, I learned the meek shall inherit the earth. For 61 long years, I was very careful not to do anything to jeopardize my inheritance.
Those days are over.
I've just found out during the first hour of the first workday of 2007, the CEOs of 100 Canadian companies each made more money than I'll make all year. The CEOs make $10 million a year. I don't.
Canadian economist Hugh Mackenzie said it boggles the mind anyone thinks it's reasonable the annual income for a year for the heads of these 100 companies is $10 million.
"How can somebody possibly be worth that amount in income," Mr. Mackenzie told The Toronto Star. "If these people are taking that much out of the company or out of the economy, what does that mean for what's left for the rest of us?"
A few weeks ago, I suggested Tom Parkinson, former CEO of Hydro One, might not deserve a $3-million severance package after mismanaging public funds. Apparently, Mr. Parkinson had trouble making ends meet on his $1.6-million salary and was forced to pad his expense account.
When the story broke, it should have sparked a public uproar — heads should have rolled.
Nobody roared and nobody rolled.
The lack of public reaction suggests greed is acceptable. Instead of firing Mr. Parkinson, the government forked over $3 million. In my books, it's a funny way to tell a bad employee to get lost.
Take a look at what's happening now.
Mr. Mackenzie is suggesting we start asking the private sector tough questions linked to the salaries paid to CEOs. He points out large corporations are not one-man bands. Rather, they're large sophisticated operations involving many hands. The tough question that needs to be asked is: Why is the company putting so much into one hand?
In keeping with Mr. Mackenzie's suggestion, here's what you're to do: Before doing a lick of work tomorrow, walk into the CEO's office and demand to know how much he or she earns and then ask for the figure to be justified.
Let me know how you make out.
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