Posted by Goose on January 15, 2017 at 08:33:03 from (70.198.57.231):
In Reply to: Re: On Made in America posted by oldtanker on January 15, 2017 at 07:43:13:
Speaking of salaries, back in the 1970's a fellow by the name of Robert Townsend took Avis out of their financial doldrums and put them second to Hertz in the car rental business.
When he became President of Avis, he set his own salary at $30,000 per year, a modest, yet substantial, sum at the time. The Board of Directors told him it wasn't enough, he should pay himself at least $50,000.
Townsend's response was, "Right now you can't afford to pay me $50,000. When I get this company turned around and profitable, we'll talk about a pay raise".
When was the last time you saw that level of honesty and integrity among company presidents and CEO's? A CEO's primary objective is to maximize dividends for the stockholders, so isn't paying himself an exorbitant salary depriving stockholders of dividends?
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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