NelsonRD
Well-Known Member
There seems to be a misunderstanding here. I am not arguing the success or failure of Bob Iger. In fact, I think that the constant degrading of his accomplishments are very over done and not really completely true. My argument is that he or any other of the current CEO's are grossly overpaid. They deserve a good living, and they can get that with a third or less of what they receive. They are overpaid and their individual contribution to any company is greatly exaggerated and deified to the point of ridiculous. I will say it again... No one is worth that much money.
They may demand it because over the last few years, BoD's seem to have been running scared with fear that there are no others out there that can do an equivalent job. They are worth a lot, because their responsibilities are big, but, they will all leave and for the most part the businesses will continue to survive quite comfortably. Disney survived without Walt Disney and Roy Disney, it survived without Eisner, it will survive without Iger. Everyone from the lowliest employee to the top, is replaceable. Apple has continued to survive without Jobs, its main driving force. A lot could be accomplished with the money that they spend on those salaries. In Disney case, it would have built more attractions, elevated employee pay and many other things company wide and he would still be making an enviable living.
Think about the discrepancy between (again using Iger as an example) Iger and the POTUS. Iger has to concern himself with cartoons, movies and theme parks and how often to paint them. Whereas, the POTUS has to be concerned about not starting a Nuclear War where all our lives are on the line. It is an insane example of misplaced priorities that this country is so fond of displaying.
Apple was not able to survive without Jobs. After firing him, the company operated at a loss until his return. Apple is now sustainable without Jobs. Eisner saved Disney, now Disney is sustainable, Mulally saved Ford from a bailout, so this idea that any CEO will do is foolish.