Dennis Palacios: Out of control CEO pay
I have kept up with and read all the news concerning the EpiPen’s price hike and the company’s vain attempts at trying to justify this. Then I read all the news concerning the Wells Fargo fiasco with false accounts and illegal activity in which it was recently fined the largest in Consumer Protection Bureau cases.
The executive pay in these instances is just horrendous and speaks to one of many reasons why the middle class is stuck, and it is frankly disgusting. The only way to address it is through law and taxes and perhaps a new view on compensation that is linked not to stock price but to helping this country expand so not just the few but all gain.
The top five executives at Mylan (EpiPen) together make $292 million. How many jobs this could create within this company? Then the head of the division at Wells Fargo just retired after this current revelation and the firing of some 5,000 employees, and she gets a retirement of $132 million. Why is this person not in jail?
When did this country get so out of hand in executive compensation? I understand we all want to make it big and get to the top but the top nowadays is out of control.
Dennis Palacios
Clayton
This story was originally published September 27, 2016 at 4:20 PM with the headline "Dennis Palacios: Out of control CEO pay."