‘Idealistic’ Thoughts on Executives’ Pay

I enjoyed your Disney article (“Delayed Ride at Disneyland Has Been Making Quite a Splash,” April 30). Your timing along with the May 1 issue of Businessweek is interesting, and I wonder if it caused any questioning in your mind as it did mine.

Let me explain.

I had read the Businessweek issue and was somewhat appalled at the salaries that made up the cover story for “Executive Pay.” No. 1 happens to be Michael Eisner of Disney, ultimately responsible for the layoffs of personnel because of “off-the-shelf” thinking and consequently the delay and cost overruns for Splash Mountain. But because of his “revising Disney’s dismal fortunes,” he is rewarded with $40.1 million, and the cost of Cash Mountain goes from $20-25 million to $70 million. I wish I could be so rewarded. Better yet, I wish that the previous employees could have been kept, utilized and paid decent wages instead of let go. After all, at $40-plus million, you could have retained 200 people at $50,000 per year for four years. Plus the possibility exists that the terminated specialists could have kept the Splash Mountain’s original construction and cost schedules, which means an additional $45-50 million.

Oh, well, you can tell that I do not possess an MBA. But in this day of individuals “earning” more than some developing countries, I wonder. Would America’s economy be more competitive if the business managers (who should be leaders) were to accept a fair wage? They would not have to be asked to bite the bullet like those who have taken pay cuts for a better America, or those on minimum wage. Just accept a fair wage and allow the remaining monies to be reinvested, let’s say, for sorely needed American R&D.;

Naw. Too silly. Too idealistic. Too simplistic for such a complex situation. Or is it?

I am not a socialist. I am a proud American capitalist who thinks that America needs some basic value changes to better compete in the world market, and I think that executive America can also contribute to this effort.

EDWARD J. CROGAN

Glendale, Ariz.