How much $$ could we save if we Outsource the CEOs?!

[Stephanie]

Companies could hire the most brilliant business minds in India for a fraction of what they're paying now. In this day and age, it would be irresponsible for companies not to maximize shareholder profits by moving CEO jobs offshore. Their first responsibility is to the shareholders. Correct?

How many thousands of low-level jobs would have to be outsourced, at great trouble and expense, to match the money we would save by outsourcing just ONE CEO job.



Company * CEO * 2002 salary & bonus

Wells Fargo * Richard M. Kovacevich * $7,995,000
Merrill Lynch * David H. Komansky1 * $7,700,000
General Electric * Jeffrey R. Immelt * $6,900,000
Goldman Sachs Group * Henry M. Paulson Jr. * $6,853,500
Morgan Stanley * Philip J. Purcell * $6,387,500
Northrop Grumman * Kent Kresa * $6,365,264
SBC Communications * Edward E. Whitacre, Jr. * $6,100,000
Walt Disney * Michael D. Eisner * $6,000,000
IBM * Samuel J. Palmisano * $5,933,333
Coca-Cola * Douglas N. Daft * $5,500,000
Tenet Healthcare * Jeffrey C. Barbakow * $5,383,109
Pfizer * Henry A. McKinnell * $5,309,200
Wachovia * G. Kennedy Thompson * $4,750,000
Tyson Foods * John Tyson * $4,480,000
Anheuser-Busch * Patrick T. Stokes * $4,425,000
Verizon Communications * Ivan G. Seidenberg * $4,200,000
Lockheed Martin * Vance D. Coffman * $4,153,846
PepsiCo * Steven S. Reinemund * $4,150,000
Tyco International * Edward D. Breen * $4,058,298
Washington Mutual * Kerry K. Killinger * $4,009,000
Bank One * James Dimon * $4,000,000
McKesson * John H. Hammergren * $3,947,596
Hewlett-Packard * Carleton S. Fiorina * $3,930,602
ConAgra Foods * Bruce Rohde * $3,919,267
Aflac * Daniel P. Amos * $3,754,633
American Express * Kenneth I. Chenault * $3,750,000
Cardinal Health * Robert D. Walter * $3,701,370
Delphi * J.T. Battenberg III * $3,700,000
Johnson Controls * James H. Keyes1 * $3,636,500
Procter & Gamble * Alan G. Lafley * $3,620,000
United Technologies * George David * $3,600,000
Aetna * John W. Rowe * $3,500,000

06/04/2003 - Updated 06:09 PM ET
http://www.usatoday.com/money/companies/management/2003-03-31-ceo-comp-chart-salary-bonus.htm

[NewJeffCT]

1. and those are just salaries

It doesn't include stock options, I am guessing... I remember - living in the Hartford, CT area - stories about now Citigroup CEO Sandy Weill getting tens of millions in bonuses & stock options while laying off thousands of Travelers' employees.

[Stephanie]

5. Your right, those salaries look rather low

I'm sure there's lots MORE money to be saved once we get the true compensation numbers.

[Suziq]

12. I agree.

This number definitely reflects only their salary. I work for one of these companies and know my CEO took home a hell of a lot more due to stock options and bonuses.

I am an administrative employee who is lucky enough to be in a department that has a bonus incentive program which I just heard will be going away. The "powers that be" seem to think that offering an incentive program to the lower paid employees is a bad thing.

:grr:

[Stephanie]

13. I'd love to know what the actual compensation packages add up to

If anyone finds a source for this.

I think we should make this a campaign:

OUTSOURCE the CEO's!

[Suziq]

15. Here, try this . . .

http://www.aflcio.org/corporateamerica/paywatch/ceou/database.cfm#A

:grr:

[JuniorPlankton]

2. Gooood point

They forgot the greediest of them all:

David D'Alessandro from John Hancock $22.8M for 2002

[GreenPartyVoter]

3. Seriously!

Time for the CEOs of that nature to go.

[Bozita]

4. Do it for the shareholders. ... After all, it's their money, isn't it?

[Stephanie]

6. Isn't that why a corporation exists?

To maximize profits for the shareholders. That's the only bottom line. It looks like they have overlooked a HUGE savings opportunity.

[NewJeffCT]

9. True

I volunteer myself to do the CEO job for 1/10 the salary of anybody listed there. Think of the savings! I'm right down the road from Aetna, I would be saving them $3.15 million a year.

[Stephanie]

11. Sadly, Jeff, you might expect some benefits

We don't want to pay for your health insurance, so we will be moving that job to Malaysia.

OR, we might bring the new CEO over here, for a three year stint, under Bush's new immigration bill. This way we save even more by not having to set up an office over there for our new CEO. H1Bs for CEOs!

Maximize Profitibility!

[librechik]

7. Since it's all about insider connections and cronyism, CEO jobs are safe

one more irony.

[GreenPartyVoter]

10. Too true

:puke:

[bleedingheart]

8. I will offer to do my part and do two of their jobs for the modest sum

of $250,000 a year...

any takers????

[cosmicdot]

14. sounds like an option to me

how many millions do these people need to segregate themselves from their, as Jefferson would say, fellow-citizens?

Corporate Feudalism


with "executives" :puke: getting that much money, at least give the peons a democratic work environment/tools so they can help vote sloucher management out

[cprise]

16. I thought workers 'oursourcing' their bosses

...was a feature of communism. Workplace democracy.

I could be wrong. It sounds nice though.

[pmbryant]

17. Love it!

Brilliant, brilliant. Why didn't I think of this? :D

:bounce:

--Peter

[ulysses]

18. folks in India are perfectly bright people, after all.

Bet we'd find a couple thousand willing to work as CEOs for dimes on the dollar, at the very most.

[Bozita]

19. well deserved kick for the evening crew

[Jacobin]

20. Now there's an idea I could seriously get behind

:-)

[anti-NAFTA]

21. This isn't a joking matter.

No one deserves to be outsourced. CEOs are employees, after all, and it won't be long till they are outsourced.

[Stephanie]

22. Well, we'd like to do it sooner rather than later

If we outsource the CEOs first, we can save all that other outsourcing for 20-30 years down the road, with all the money we'll be saving.

[Stephanie]

23. I'm not kidding about this - shareholders should rise up and demand it

We can make this happen. I heard on public radio today that CEO's make 1000 times what an average worker makes. This is brand new - it didn't used to be this way. What are we going to do about it? They are taking our jobs and stuffing the extra money in thier own pockets. It's time to overthrow the CEOs.