In: English and Literature

My position:
I think like many other Americans I am annoyed and sickened with the corporate greed. Many Americans are both unemployed and underemployed. At times working more than one job just to make ends meet struggling to just get food on the table. We have corporate executives making millions of dollars a year. For instance, the top 5 executives made 258 million in one year at Verizon Communications. The CEO Lowell McAdams salary is not even included in that figure. The company has even found a way to get a tax rebate for 1.3 billion. This is after the company reported had 19 billion in profits. This is just a typical example of the greed that takes place with CEO’s and other executives. These types of salaries are over the top and need to be brought down to a realistic salary.
I believe one alternative would be to make sure that no CEO’s or executives receive any type of bonus if the company receives any type of bailout money. Also if there is a layoff of employees or closures due to lack of money. This would force them to look for ways to keep the business running without cutting the workforce and keeping money for themselves.
Another alternative is to make sure that the stockholders have a say in the compensation package of the executives and they can help prevent the golden parachutes that many take before they leave a company.
Thirdly, I think the overall financial state of the company should be evaluated by a third party before any additional compensation is granted. Based on seeing how the company is doing only then bonus or stock options should be granted and only what is able to be afforded by the company and it should be based on how well the employee is working.

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