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412 Comments
- upick, on 12/01/2008, -1/+550He's done 3 good things,
1. helped the company
2. honorable move which will earn him bonus points with everyone in the company
3. gets to keep his job and hopefully when profits pick up he'll be back to his old salary - mahomet, on 12/01/2008, -2/+432Now, if only all CEOs were like that in tough times.
- Zippo, on 12/01/2008, -3/+291A lot of execs should take note of this guy. There is no honour in greed.
- Rusty747, on 12/01/2008, -3/+234Looks like this CEO has a heart.
- bennyshoham, on 12/01/2008, -4/+154 To him, it's nothing strange.
- richmomz, on 12/01/2008, -3/+148Props to this guy for setting a good example for the rest of the world's corporate "elite." Unfortunately, the terms "humility" and "sacrifice" are not a part of the typical U.S. corporate executive's vocabulary.
- JanusTheDoorman, on 12/01/2008, -14/+153http://i88.photobucket.com/albums/k196/tippcon/cla ...
- HeDiggMe, on 12/01/2008, -3/+129He could offer a ride to the American auto execs
- XPpro, on 12/01/2008, -1/+124If you're doing a good job, you should get good pay. But if you've run your company into the ground and asked the taxpayers to foot the bill, you should already be fired, let alone riding in private jets or taking company vacations.
- kingmanic, on 12/01/2008, -0/+105Japanese CEOs tend to make less because while their leadership is important it's not seen as something that's worth 30-39 times the average workers pay. They recognize success involves far more people than the guy at the top and they pay around 17 times the average workers pay. Around the world US CEO's are objectively over paid. They make massive amounts of money but many of them lose money and depart with a golden handshake. On a cost benifit analysis the worst expenditure for an American corporation is the CEO. They can cost hundreds of millions and odds are they will do no better than average and they often require exorbitant exit terms.
How did it get this way? Basically Americans all think they could be that CEO so they don't' mind if the CEO is massively over compensated. Americans have this lottery mentality and refuse to acknowledge that the CEO are almost a dynastic line with few coming from outside of certain social networks. The system don't' work. Expensive but unworthy CEO's and fairly expensive union contracts is what is killing American Competitiveness. - ExRe, on 12/01/2008, -3/+102His old salary was still pennies compared to what he'd be making as a CEO of the same company in the US.
- pintomp3, on 12/01/2008, -3/+99in the US airline CEOs ask pilots to take paycuts and furloughs and then reward themselves millions for "cutting costs".
- Barackalypse, on 12/01/2008, -1/+92On top of that, he only owns 17,000 shares of the company, which last closed at 217 yen per share, which is only worth a bit more than $39k USD. I was originally going to bash him for such a petty gesture, assuming he had millions in shares, but this man is the real deal and I'm sorry for doubting him.
http://www.jal.com/en/ir/pdf/ir_080606.pdf
http://investing.businessweek.com/research/stocks/ ... - sClubDevin, on 12/01/2008, -2/+80I'm sure plenty of CEOs in the US would cut their salaries, but none would cut the company perks that keep them on the top.
- redcolumbine, on 12/01/2008, -1/+76And a brain. And the nerve.
- thezackisback89, on 12/01/2008, -7/+76My best friend is a 20+ year captain at United Airlines.
He lost 89% of his pension, and can no longer retire.
Meanwhile, UA's CEO gave himself a $40,000,000 bonus.
This is why America will eventually be invaded by a foreign country.
We aren't the superpower of decades long past.
We've unfortunately allowed corrupt government & business to reign for far too long.
We need real leadership in Washington that will bring real change. - ChuyMatt, on 12/01/2008, -2/+68Do you think that our western culture has any care for Honor? Greed is king!
- superterrorizer, on 12/01/2008, -0/+60GM and Ford should take a lesson.
- thezackisback89, on 12/01/2008, -4/+60I would know, my best friend is a 20+ year captain at United Airlines.
He lost 89% of his pension, and can no longer retire.
Meanwhile, UA's CEO gave himself a $40,000,000 bonus.
Also, he's almost at the FAA's required retirement age of 65.
He's been royally screwed.
Also, "cutting costs" meant selling some of there smaller jets in their fleet, which led to them bringing in over $200 million to help cut costs. Guess what? Instead of using that money to reimburse lost pensions of long-time dedicated pilots, the board paid themselves the $200 million.
The United States needs to regulate this industry badly, and the FAA needs to re-regulate for the 21st century. - darkchild82, on 12/01/2008, -0/+55Actually, he takes the bus.
- Venemous, on 12/01/2008, -10/+62and this explains why Japan is far ahead of the rest of the world
- mikey2dope, on 12/01/2008, -3/+52If you want a real laugh, go look up Japanese automakers CEO pay, then look up American automakers CEO pay, and then look up Japanese automakers profit compared to American Automakers profit.
Despite losses, American automakers CEO pay dwarfs the pay of the Japanese CEO.
Free Markets would be a good idea if there wasn't so much greed. Trickle down economics isn't supposed to be so literal, let more than a trickle flow downwards.
I won't blink if American CEOs took the lead of the Japanese. You know why? American CEOs will only take a pay cut NOW, if they knew they'd get it back later. We give too much credit to CEOs, and people think they actually deserve the pay they make - they DON'T. They pat themselves on the back with multimillion dollar bonuses, for a job well done, a job that's actually done by the people much lower than them, and they have the nerve to set their salaries low to circumvent taxes no one else can escape with their pay structure.
I have a ton of respect for those who worked their way to the top. But I don't think they are deserving of 60+ million dollar bonuses, ESPECIALLY when they are showing losses in the company.
Americans aren't asking for free money. We are asking to be given the chance to not skate by check to check, while a CEO makes more money than they can spend. That's not true capitalism, because capitalism should find its way to those who deserve it as well, the workers who make success possible.
We're not free, we're as enslaved just as the slaves were in the beginning of this countries history. Our lives are too dedicated to work, and ultimately to benefit just a small segment of the population But alas, nothing will ever change. This is the way the world has been for humans as long as man has walked the planet. - Onenuttedmofo, on 12/01/2008, -2/+47This is how CEO's should act.
The idea that CEO's should earn gratuitous amounts of money so they can focus on the interests of the company is absurd.
American companies take note: THIS is how a company should be run. - sinrtb, on 12/01/2008, -0/+44True except when all i said and done his company will existhereas the US company will have gone bankrupt along with the American Taxpayers.
- Aadain, on 12/01/2008, -1/+43I think that's where my biggest complaint is. Who is getting fired for making all these bad choices that lead to this financial crisis? Are all the executives going to slash their benefits & salaries to reasonable (by our standards) instead of firing a thousand works just to keep their life style's? Now if a company like JAL came to our Congress asking for help, they can point to all the actions they (both workers and CEO) have taken to improve their business and say "we just need a small loan to get through this time". Can AIG really say that? Can GM? Until they change *something* we shouldn't give them a dime.
- inactive, on 12/01/2008, -3/+44Thats progress now!
- macgregg0r, on 12/01/2008, -0/+41All CEO's could learn a thing or two from this guy.
Company first, or you could be out of a job!!! - rz8472, on 12/01/2008, -2/+41Japanese CEOs are a different breed than their American counterparts; many actually allow one or two union representatives to sit on the company board, and an inability to look after one's own employees is seen as shameful rather than audacious and competitive.
The only comparable CEO I can name from here in the States would be Jim Sinegal of Costco Corp. - inactive, on 12/01/2008, -1/+38Outstanding! Cheers!
- EricSchC1, on 12/01/2008, -2/+37Point reinforced by referring to them as "japs".
- aimhelix, on 12/01/2008, -1/+36This guy is one of those 'executive types' that I'm sure gets invited to happy hours by his workers. Here's a beer to you sir!
- kanundro, on 12/01/2008, -1/+34You mean flying around in personal jets and throwing hundreds of thousands of dollars towards 5 star hotels/resorts and my own salary for business meetings won't save my company from bankruptcy?
This i gotta see.
/sarcasm
This man deserves massive respect. - Gregus1032, on 12/01/2008, -1/+33what are you talking about? In tough times the CEO's need bonuses to help their morale so they can make the company do better!
/sarcasm - Tugboat78, on 12/01/2008, -1/+33That guy is pretty bad ass
- york2600, on 12/01/2008, -2/+33He's showing his commitment to the company. It's a sign of goodwill when he's probably firing people at the same time, that he's not taking a huge bonus like an US CEO would. He's not a moron. He's a good leader.
- petebot, on 12/01/2008, -0/+29Everyone knows that Japan is a temporal rift on the surface of the planet. They exist 500 years into the future.
- dOOBiEx213, on 12/01/2008, -2/+30Japanese doctors are way underpaid... apparently their motivation comes from "helping" people... In America, I'm not sure if my kidney is ***** up or it the guy wants a new yacht.
- santiago1, on 12/01/2008, -1/+28Can't believe this made the comments section. What a lame ass post.
- eleven, on 12/01/2008, -3/+28Since he's the F'ing CEO he can decide to make what ever he wants.
- york2600, on 12/01/2008, -1/+26If your company isn't making money then you're not doing a good job. Take little pay or get a new job. Pretty simple stuff.
- alex7575, on 12/01/2008, -1/+25I was wondering if anyone was going to mention Sinegal. He's one of the main reasons I shop at Costco.
- kiantech, on 12/01/2008, -4/+27good thing youre leaving, youre not going to get a job here with that major.
- alex7575, on 12/01/2008, -1/+23Are you serious?!? You are trying to compare what the CEO of JAL is doing to what Jobs is doing?
Jobs has money coming out of his ass, he can go w/o any income for a thousand years and still have money left at the end of the day.
You are trying to compare Jobs "sacrifice" to the company he owns, to what Nishimatsu's doing for the company he WORKS for?!?
If you did some research before spouting your Apple non sense, you would find that his base salary is all he gets, no bonuses, no stock options.
People like you make me embarrassed of being a Mac user.
Also if your original earnings were Base Salary + Bonuses, how can he cut his base salary and end up earning more?
Can't do basic Algebra either? - inactive, on 12/01/2008, -3/+25Japan knows honor
- gniggidmai, on 12/01/2008, -5/+27Sadly, in the US capitalistic system nowadays the only objective is money, not honor or working with morals and conscience.
- ronaldinho, on 12/01/2008, -2/+23I guess at least they are far ahead of the rest of the world regarding the implementation of tentacles and invention of panty vending machines
- ltethe, on 12/01/2008, -0/+21And a balance sheet.
- brownsound00, on 12/01/2008, -1/+22Costco has to be one of the most successful stores i have ever seen. How could you get ALL those different items at such a low price and organize them in a logical way, and have minimal problems! Costco wins.
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