In "CEOs Likely to Find '95 Was as Good to Them as It was to Stocks" (Sunday Forum, Feb. 25), Graef Crystal wrote that CEOs and other senior executives are expected to make out like bandits. Once again Michael D. Eisner, top man at Walt Disney, is at the top of the list.
It was reported that Eisner will rake in another $100 million or so in 1995 and that his total take over his 11-year tenure at Disney is about $500 million. Needless to say, I doubt if Eisner worries too much over maintaining his standard of living or the long-term financial security of his family. But what about the rank-and-file workers? How well are they doing? Believe me, not very well.
The fact of the matter is that real wages and benefits for most rank-and-file workers at Disney have gone down significantly since Eisner and his top crew came aboard. And, to be sure, this sacrifice on their part is a major reason why corporate profit and executive salaries have gone up at Disney.
But what about the sacrifice on the part of Eisner and his senior executives. Where is it? I guess leadership by example doesn't count for much these days.
To be sure, this lack of sacrifice on the part of corporate leadership is a major reason why a growing number of middle-class workers are voting for Pat Buchanan in the Republican primaries. To be honest, I'm tempted to vote for him even though I am vehemently opposed to most of his other views. Irrational thinking, I suppose. But that's just how big an issue this is with me and other people I know.