Japan Airline's CEO Slashes his Pay Below the Pay of Pilots, other CEO Should Learn f
 

We need more of this in America. If company does good we all do good. If company does bad, we all do bad. Really Good video.

YouTube - Japan Airline's CEO Slashes his Pay Below the Pay of Pilots, other CEO Should Learn from Him !

Great. Just what I want. The guy running my company to value himself so little that he doesn't even take a paycheck. If only we could all learn such basic economic principles as incentive and supply and demand.

It is called HONOR.

I wish most of the banking industry and automotive industry has just a little bit of it left. But I am afraid it is all greed. How can a bank issue billions in bonuses to it's top execs, who completely suck in what they do, while taking money from you as part of a bailout for them being greedy and incompetent?

What happened to the basic economic principle, you suck you're fired?

There should be no bailout. The shareholders/board should fire ineffective executives, but nobody should be working for free.

As for the Japanese ethos... it's about honor and tradition. The owners take responsibility for the both success or failure.

In the US... as mentioned it's about greed. The politicians have to guaranty their campaign contributions by approving the bail outs without oversight or restrictions.

To the tax payers... a lose lose proposition. If the loans are not made to the Big 3... then millions are on unemployment. Who foots the bill? Us the taxpayer. Lend the big three money? You just prolong how long before the tax payers will foot the bill for unemployment, while the executives live the life of the rich and famous ala Robbin Leach.

And for the low life politicians? Well, they'll they will continue to get their, and the words get stuck in my throat, their campaign contributions... so they can also live the life of the rich and famous when they are appointed to some company's board of directors.

May 2009 be happier and healthier for the common man, while these amoral no-conscious CEOs get all they deserve too.

Remember when Iacocca set his pay his pay at a dollar a year? I don't really think he was hurting that year. Somehow I don't think we'll see too many US execs committing seppuku at the end of a board meeting.

I'm sorry, but how can you not have respect for that man?

Honor and integrity are cornerstones of leadership. He gets it.

Contrast that with Robert Nardelli, the CEO of Chrysler. After screwing up Home Depot he walks away with a golden parachute of roughly $250 million. Now he's before congress whining for a bailout...

Or how about John Thain, the CEO of Merrill Lynch? After the company was on the brink of collapse during his "leadership" and then sold to Bank Of America at a firesale price he wanted a ten million dollar bonus for his "performance".

I agree....it's amazing that people wonder why the Japanese are kicking our a$$ in the car and truck industry, not to mention electronics.

Sometimes it takes getting knocked down on the playground to stop thinking you are the bully and build respect for others around you.

Most CEO's can work for $1 for the rest of their lives and still die with millions in the bank. It's not about the money as much as it is being the Captain of the ship when you're a CEO. You sink the company, you should sink too, just like small business owners.

It's called his increased stock options just shot up huge on the press release... I'd check the insider trading to see how much he bought before, and after the press release....

Why stop this at the CEOs?

Under this logic, the Captain is in charge of the airplane, so why doesn't do the "honorable" thing and make no more than the jr FA on the plane?

Wait? Those with more reponsibilty are, and ought to be, better compensated. A CEO has more overall responsibilty than a CA. If a poor performing CEO should make less money than shouldn't a poorly peforming Captain make less money too?

Ehhhhh, not quite. It's not about responsibility on paper in this context, it's about job performance. A captain who massively screws up and crashes a plane (we'll assume everyone got out ok) will get fired, probably along with the FO. And then he'll be at burger king making those junior FA wages you mentioned.

No. S/he should shape up or ship out.

I can understand why you think that because that is a very natural western way of looking at things, the way he thinks is that it is incomprehensible to him why we think he is doing anything special, they are funny that way. I can assure you that he is not doing it for what the stake holders may think or with any hidden agenda, to him his own success is measured by the success of the company, it is just the general view that the Japanese have towards their company it is almost like if they are fans of a sports team rather than employees.

Steve Jobs(Apple), Warren Buffett, John Mackey(whole foods), Eric Schmidt/Sergey Brin/Larry Page(Google), Richard Kinder(Kinder Morgan), Richard Fairbank (Capitol One), Bill Gates(Microsoft).

A $10 bill gets you these guys for a year with enough change left over to hit the .99 cent menu.

This is also a fundamental difference in western/eastern philosophies. The leaders whether they be military or corporate feel a huge sense of responsibility for the performance of their organizations. That's why military leaders would take their life after a battle loss due to the overwhelming shame of suffering a loss. Taking millions while the rest of your employees are taking cuts is not fathomable to them.

We lost our pensions, took 50% paycuts, while the executives who made these decisions insulated themselves with bankrupt proof golden parachutes. It's hard to tell your troops with conviction to storm a hill while you eat filet mignon from a mansion far from the battlefield.

I have no problem compensating leaders for solid performance. But blind compensation simply because you are an executive is stupid.