There was an interesting news item on CNN today about CEO salaries. The debate: Should CEO salaries be made public? Jeffery Pfeffer of Stanford University doesn't think so. Here is what he had to say on CNN's In The Money today:
"The more we talk about these things and the more public and more public attention there is, the higher the salaries are going to go, and that's because people compare themselves to other people."
I couldn't disagree more! The issue at hand is soaring and out of control CEO compensation. This implies that we are paying our CEOs more than they are worth! Personally, I feel that 170 times the average income is NOT more than these people are worth.
Why?
Because these people ARE American Business. It isn't the workers or the rank-in-file. It's the CEO. Without the CEO, how would everyone else know what to do? And when to do it by? And what would we do with our surplus of stock options?
Thomas Hobbes once said that life is "solitary, poor, nasty, brutish and short." Well, the CEOs make sure life stays that way. Hobbes goes on stating that society exists beneath an authority. He said this in The Leviathan, which serves as the philosophical foundation for modern Western political philosophy, which means it's right! Don't question it!
So how can we as a society question those who are our authority? Why should we? This authority guarantees us security. In this case, job security. Which we all have, except those of us facing lay-offs, downsizing, off-shoring, and corporate bankruptcy. But aside from that, these CEOs have our security in mind. Right behind the security of their bottom line. But it's up there on their list.
Still don't believe me?
Well, lets take a look at some contemporary CEOs as examples of how vital they are and how much they have contributed to the health, security and well-being of those who live solely to serve them:
First up, Ken Lay. Kenny-Poo made $67.4M/year salary (with a BONUS!) as the Divine Right Executive Officer of Enron. However, after he left the company stocks plummeted 99.8
nd there were over 6,000 lay-offs! See how important he was! None of that would have happened if he would have been allowed to remain in command and continue his off-the-book partnerships to hide the company debt and inflate profits.

Ken Lay
Next we have Dennis Kozlowski of Tyco Itnl. Ltd. When Dennis quit the company to devote his time to addressing the 11 felony charges against him stocks in Tyco Intl dropped 55
nd there were an alarming 11,000 lay-offs. As you can see, no CEO, no job security. So what if the man was using company money to buy art and houses. He only made $1.65M a year (plus a $4M bonus...and $30.4M in restricted stock awards...and $1.4M in stock options)! How can you afford to throw your wife a party with an ice scupture of the statue of David urinating vodka into the punchbowl? At that price, you'd have to call your old frat buddy to do the same thing! And he ain't no statue of David. David the Gnome maybe.

Dennis, seen here with fellow CEO Martha Stewart
Last up, Bernard Ebbers of WorldCom. Bernie was FORCED to quit. Why? Because he borrowed $408M to cover some margin calls. Hey, he
borrowed it! He was going to pay it back...as soon as one of the margin calls paid off. Honest. He told me. Since being ousted, WorldCom had to FIRE (not even lay off but FIRE) 17,000 people. And their stocks shot through the floor, losing 96.9When Bernie was running the company he effectively hid $3.85 Billion in loses to post a profit, thus keeping stocks afloat and people in their jobs! Do you know how hard it is to hide three billion dollars?! That is why he was a CEO and that's why he made $1M a year!

Bernard Ebbers addressing his employees
The list goes on. For more, check out
Citizen Works. So we shouldn't be complaining that our Chief Executive
Overlords Officers are making hundreds of times more than we are! No, we should be happy. Their guile and deception keeps us in jobs working for companies that are one whistle-blower away from total collapse. So the next time your CEO takes a break from day trading on E-Trade and comes down from his Ivory Tower, make sure you go out of your way to kiss his butt.
Slip him the tongue too. He's earned it.
Besides, it's only a matter of time before we
sans-culottes or those of us without pants, rise up against them. But if I were them, I'd be more afraid of the
sans-douilles or those of us without sleeves. Especially those without sleeves with a penchant for chewing bubble-gum. Because when they run out of bubble-gum...

"We have come here to chew bubble-gum and kick ass...and we're all out of bubble-gum."
And no. I'm not wearing any pants right now.