One CEO Who Gets It

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Where as I certainly agree with the CEO of Netflix, and his idea for taxing himself as well as other executives 50%, I have to say it's a little offensive to refer to "catering to the RIFFRAFF" now and then as good business!! Translation, the middle classs, or those who aren't CEO's earning a million a year MUST be riffraff!!! Only proving once again, how superior they THINK they are because they have money. How revolting. Vocalizing or even writing such nonsense for an article only proves the old saying "you can't make a silk purse out of a sow's ear"!! CEO's and the USN writers need to get off their high horse. You may have more money, but are certainly lacking in class!! Enjoy your golf game, while the rest of us are working.

Carri of CO 3:42PM March 12, 2009

Everyone's talking about CEOs and their salaries, and who deserves it, who doesn't, etc. One thing to keep in mind - Netflix is a very profitable company, and Reed Hastings has overseen the efforts of "the board" to make a company profitable. Whether or not he started his company from scratch, he actually puts his time and energy into this organization that has made a great product available and affordable to much more of the population than other CEOs have ever even considered doing before. Hastings may not be Mother Theresa, but he has made a one-time contribution to society that will forever change how everyone in this country obtains their favorite movies, which has made many people happy, and at the same time is making a profit. He deserves the money he's making from his hard work, and if he's making a public announcement that our Goverment should take half of his salary, it's his choice to make.
Reed Hastings worked hard for what he has, and as this is happening, I see so many Americans sit on unemployment or other means of wage compensation when all they do is sit around all day or night making no contribution to society. While others actually look for work, these people are the ones who have the "entitlement" mindset and attitude. These people are the ones who do nothing, but want everything. I personally work three jobs (one full-time and two part-time) to earn what I have in life. I also make charitable contributions of monetary means as well as my own time and skills to help others. In the meantime, I find it very difficult to be able to buy a house, let alone afford one, as I can only afford to rent at the current time, yet I continue to educate myself to move up and do bigger and better things. Helping others only means something of voluntary, and if forced, becomes socialism. Why should people like me who bust our rumps to advance in life be forced by our Goverment or any other conformity to give our hard-earned money to deadbeats who don't want to work and/or take out loans that they know they cannot afford? Darwin was right when he wrote of his theory of evolution. I agree that the strong should survive (those that choose to overcome), and those who are week (these days, lazy) should fall behind and rot away. Anybody can make something great of themselves and charitably help others. They just need to put some effort into their actions.
I'm not Republican, just a very conservative individual who belives that America is deteriorating because many people in this once great country think they are entitled to everything great, yet they don't want to work for it. Great things don't grow on trees. Everyone must work hard for what they have, and educate themselves to grow.

Spoind of MI 1:07PM February 24, 2009

At one time bonus money was awarded as appreciation for jobs performed very well, actually in excess of the norm. Now it appears as if it is merely an entitlement (which we all condemn as negative) for something unknown - it certainly is not for a job well done or even the norm or taxpayers would not be handling the rescue tasks of these folks; it cannot be for extraordinary intelligence or skill as it doesn't seem like they ever put it to any use. Corporate bankruptcies continue escalating at an alarming rate. A few years ago, under the former administration, when consumer bankruptcies were escalating, congress stepped in and slammed the brakes on that train because credit card companies professed that abuse of the system was rampant - those same companies and banks standing behind the credit companies were awarded then - not for working with troubled consumers but for working with favored lobby groups...and then the credit card companies returned to the same practices which allowed and encouraged consumers to follow the same path to overspending. Now, consumers and the nation are left with the remains of corporate bankruptcies.
Now, everyone is excited and focused about corporate compensation - for inspiration - why don't these giants look across the ocean to Japan Air Lines - a lesson that should be adapted to US companies. Any company receiving federal dollars of any kind - including bankruptcy relief must be required to start cost cutting measures at the top - if blue collar jobs are being eliminated then white collar jobs will need to be eliminated or whit3e collar workers placed in blue collar positions at blue collar pay levels to pick up the slack; if blue collar wages are being reduced that can only happen if first white collar executives have taken similar or greater cuts in compensation. For too long, we, as a society, have placed huge value on the top and little value on the bottom. We need to look at the job and the performance of that job to determine its value - not completely on the degree required to get the job. It would seem that the best gourmet meal would be much more expensive if the dishwasher wasn't doing his job and the executive chef had to perform all the tasks in the kitchen...so in this circumstance the lowest paid person is in reality the most critical. Could this be so in others? So, how would you like your eggs benedict which will be served on our finest paper plate?

mellie of TX 10:35AM February 24, 2009

Why stop at 50%? Why not tax people at 80%? It's been done before (1960's, UK), and everywhere it's been tried, it's resulted in economic stagnation and capital flight. You lefties never tire of selling the same old class warfare and central planning, but this is the first time in a while that you have been so honest about it. Your guy, Obama is not going to fix the economy by railing over executive salaries. The issue is a red herring to divert attention away from the Democrat party's real agenda with the current "stimulus" package: 1) increase political patronage to give Democrats a lock on power 2) steadily nationalize huge sectors of the economy starting with banks and health care and 3) guarantee another decade of stagflation and larger deficits or worse, hastening the day when debt and entitlement obligations cause our system of government to totally collapse.

Andrew of NC 6:04PM February 11, 2009

What happened to reward for performance or out the door. The CEO's refuse to drive themselves to work, spend a lot of time in wastefull meetings (golf meetings at country clubs) all wrote off as business expense. They take investors money, line their pockest and destroy the company then walk away with a big severance package.
This should be stopped......Many a company has been destroyed like this. Leaving many with worthless stock and people without jobs.

JD Weese of MO 1:20PM February 11, 2009

I guess that moronic Netflix CEO did not realize that the $500k annual cap only applies to CEO's who accept "bail out money". If you don't accept "baiil out money" aka tax payer dollars then your income will be unlimited.

Mr. South Side 4:07PM February 10, 2009

WHY WAIT, MR. HAstings can pay whatever you want right now!
You can even pay 100% of your income, just make payable to:
GIFTS TO THE UNITED STATES
U.S Dept of the Treasurey Branch
Credit Accounting Branch
3700 East-West Highway room 622D
Hyattsville, MD 20782
I rather not have my taxes raised!

Jen of PA 2:50PM February 10, 2009

Well, it looks like I'll have to cancel my Netflix membership because being taxed unfairly will cut down on the disposable income I have to spend on luxuries like DVD rentals. (Especially since those in my income bracket are already bearing 86% of the tax burden for this country.) Wake up and smell the socialism already! This is plain and simple redistribution of wealth--taking money away from those who worked hard and earned it and giving it to those who didn't.
I already give a large portion of my income to charity and unless the government takes it away from me under a plan like this, I'd like to be able to continue to do so.

Betsy Gail of KY 1:15PM February 10, 2009

CEO's, CFO's, CIO's, COO's and all those other "C" something "O"s - instead of being SALARIED - have their paychecks be a PERCENTAGE of what the company actually has in GAINS. That means Revenue minus operating expenses....
Thus - in times when the company is doing well, the executive earns well. And when the exec makes bad business decisions - taking the company down the 'Primrose path", they share in that failure. Currently, their 'bonus' are tied to that - not the salary. And their bonus' are significantly more than their salaries.
If they manage their money right, they will sail through good times and bad without issue. If they manage the COMPANY right, the bad times would be dependent on the economy with some years being better than others.
Then - the bonus - yes, everyone should have one..... BUT - for EVERYONE from the boardroom to the floor sweeper - the bonus should be the same. A percentage of salary - the same percentage for all - being the max - then the percentage of THAT figure being tied to teh actual Revenue-operating expenses.

MotherHenDragon of CT 10:02AM February 10, 2009

ONE SHOULD KNOW THE FACTS BEFORE THEY GET ON HERE AND SOUND LIKE A FOOL! THE FACT IS:
The cap of $500,000 APPLIES to top executives of companies that are receiving >>PUBLIC<< funds because of their losses. Since it is the public's money, it is not OK to use it to feather the nests of private individuals (especially since these particular guys got the company into the dire straits to begin with.

HEAVEN of TX 10:49PM February 09, 2009