Monday 24 January 2011

Global Financial Crisis (GFC) - what crisis?

As far as I can tell not one person has been held to account for the GFC. I am surprised that many executives haven’t been jailed.

And from what I can tell from my research the gap between the rich and the poor is widening. The salaries some CEO’s receive tells the story vividly.

Many CEOs receive a salary package that is more than 300 times their lowest paid employee. In my view no one person is worth this.

Even JP Morgan, one of the most successful bankers in history, and not someone whose actions I would regard as a heroic, believed that no CEO should earn any more than 20 times the wage of the lowest paid employee.

What’s going on?

Perhaps Warren Buffett, whose actions as a CEO I would regard as a heroic, has the right perspective. His salary is $100,000 pa and has been for 30 years!

I recommend you read the Why Sky-High CEO Pay is Bad Business article by John Mackey the Chairman and CEO of Whole Foods Market one of the worlds best organisations by any measurement.

I would be very interested in your thoughts. Please email or get in touch with me.

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