Why Is Japan Ahead? Look at Executive Pay
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When Japan labels U.S. business inefficient, a major part of what they are talking about is executive pay (“Regulators Consider Rules That May Scale Back Executives’ Pay,” Jan. 27).
Many corporate salaries are excessive, not to mention such benefits as retirement pay, huge bonuses, free autos, vacations, housing, club memberships, tickets, etc.
It’s out of hand, and the average American is required to pay higher and higher prices to pay for such extravagant living. Executives are overpaid, and companies usually have too many of them. Executives blame workers for excessive business costs, saying employees are the reason we are unable to compete with Japan. But Japan is right on target. Executives ought to look in a mirror and see what they see-- greed.
We can compete with Japan, but we must start at the top, not just the workers. Most of us live from check to check.
MILT BUDICK
Torrance
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