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Government Article 3297: 23-Nov-08

Bay City Mayor, City Commission to Peer Into Financial Crystal Ball

By: Dave Rogers

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"The BUZZ" - Read Feedback From Readers!
Observer says:       On November 24, 2008 at 04:24 PM
HEY! What's this about making the auto company CEO's take a pay cut?

The argument justifying exorbitant CEO pay is that a company MUST pay those dollars to attract the BEST BRAINS!

Bob Sheiffer on CBS Face The Nation Sunday ran these interesting numbers.

Toyota
CEO Pay. $1 million
Profits: $5 BILLION (Profits... see that?)

GM:
CEO pay $15.7 million
LOSS: $15.9 BILLION

FORD:
CEO Pay $21.7 million
LOSS: $7.5 BILLION

Maybe those brilliant CEO's at GM and Ford use a different math and normal people just can't understand it.
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