"Despite Profits, Chrysler CEO Declines Salary and Bonus for Second Year" - Ethics Newsline (3/12/12), Global Ethics
Sergio Marchionne, CEO of Chrysler leads by example. Mr. Machionne also heads European automaker Fiat where he receives "a lucrative" compensation package. He is negotiating contracts with unions and employees at Chrysler where he is asking for concessions, and it is apparent that his act of good faith in not going unnoticed by union leaders and employees. Also in 2011 Chrysler posted a profit for the first time in 14 years.
Mr. Marchionne doesn't just lead by example, but rather exemplifies strong ethics of a true leader with respect to his declining a salary and bonus. It goes to show those you lead that your willing to be the first to do without and take stock in sharing a burden for your company. I'm sure the OWS crowd will have little if no acknowledgement or praise for Mr. Marchionne. At the same time I highly doubt that Mr. Marchionnes' acts of faith is for the benefit of the OWS movement.
Having said that, I find it ironic that the 99%'s can take root in locations and do little more than occupy space and further place burden on others around them to further their own cause. I see a group that is relies on others to provide for them that which they choose not to provide for themselves. Furthermore, if the message of the movement is so great.....where is George Cloone, Sean Penn, Timmothy Robins, and the nay-sayers with a more public ability to further this cause? Or better yet, why haven't the OWS group extended their criticisms to the multi-million/billion dollar movie stars, sports players, and politicians for that matter? After all we are told that the reason movie tickets are so expensive is that the cost to produce such entertainment is increasingly prohibitive. Yet just another example of the double standards that we must contend with in today's world. Why haven't any of the class of people I mentioned above come out for or against OWP message? Why haven't we heard from President Obama on this, after all we had a beerfest to settle "racial" differences, or is he just too busy making the night-time talk show circuit due to the upcoming election?
Having owned a couple of small businesses over the past 25 years I have found that I as the "CEO" am the first to arrive and the last to go home at the end of the day. Furthermore, I carry the burden as the business leader of worring how payroll is going to be covered, whether or not there will be enough funds to buy supplies, and how keep the company afloat in a troubled economy. Does the average employee loose sleep at night contemplating such matters? No, but they expect to be "well compensated" for their time. Applying this experience to what it is like to operate a small business, it is no lesser a challenge to be the leader of a large corporation. So I suspect it is easy for the OWS people to conclude since their greatest challenge of the day is occupying space, they can not conceive the time, energy, education, and family sacrifices that a CEO endures. I would agree on one point with OWP, government funds that were lent to these companies should not be used to pay for bonuses and extraordinarily high compensation packages. If a company is asking for help from the government, our tax dollars should not be used inappropriately, but then that could/should be monitored by the politicians that we elected. Yeah, right!
One final thought for the OWS, instead of occupying Wall Street their time would be better spent occupying a college seat (a neat ring to it) and EARNING an education. Then they can go out and lead ethically as Mr. Marchionne is doing. Since there is more 99%'ers vs. 1%'ers this shouldn't be so difficult, it would certainly be more productive. But my prediction is that it it unlikely to happen.