Over the past year, we have heard many story's of people getting their salaries slashed, losing hours, or even losing their jobs. The unemployment rate in America is about 8 percent, as compared to the ideal 3 percent. People from all areas are furious about the current situation. Big corporations that received aid from the bailout plan, such as AIG, have been subject to ridicule for some time because of the controversial nature of their bonus system, and how they used the money from the bailout. I was looking over CNN, and I saw an article that showed me something that I thought many people would like.
The average earnings of chief executives of American corporations fell about 5 percent from last year. This is the first year in five that the average annual income of these executives has fallen. These statistics may help to settle some of the anger that looms everywhere in this current situation. I find it noble that CEO's, while their companies may be having trouble, are cutting into their own earnings. Perhaps they have realized that a few million dollars less each year would not harm anyone. It is also a good thing to see that the execs are not running their companies into the ground so that they can still receive an enormous payment. Maybe this decrease will produce positive effects later on...
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