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SHOULD CEOS RECEIVE PENSIONS?

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[+] serious ballot by Cathexis

Franklin Raines, Fannie Mae's former chief executive -- who retired in mid-December of 2004, after regulators exposed accounting errors expected to force a massive earnings restatement -- stands to get an annual pension of $1.37 million, according to regulatory filings.

Raines is also in line to leave with $5.8 million in stock options and $8.7 million in deferred compensation to be paid through 2020 -- on top of the pension -- according to Fannie Mae's filing (December 28, 2004) with the Securities and Exchange Commission.

Regular working people are on their own for retirement preparation, contributing to 401ks or IRAs (if they are able to address retirement, at all). Pensions are bad for business, we are told ... a drag on future profitability. People need to take responsibility, etc., etc.

Pensions are bad for business, everyone agrees ... except when it comes to CEOs ... despite their performance and, evidently, even if they were incompetent and/or criminal.

Do you believe CEOs should be eligible to receive pensions at companie sthat do not provide that option for other workers?

Yes
No
Other (comment)

Ballot #63233 : SEE RESULTS

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COMMENTS:
NOOOOOOOOOOOO! Even CEOs that are "only" paid a few hundred thousand per year should have enough intelligence to manage that money well enough to keep them in luxury through their final days.
They should all be lined up against a wall and shot if they try to get away with that s#!t.
No.

I know quite a few 'double-dippers' - career military men who went on to become high-ups in corporations like TRW and Martin Marietta. They get pensions from the military, from their respective corporations, and now Social Security.

I wouldn't mind it so much if they weren't always complaining about Big Government, and getting on their soapbox about our great system in the USA (re: healthcare, etc.). I guess it IS for them, but I wish they wouldn't presume to speak for the rest of us.

No. All employees should have pension options if they are offered by the company. It shouldn't be only for the elite.
As if...

These clowns get paid more than their fair share, considering the amount of work they do (basically pointing and nodding) and, considering how many of these companies go belly up, with upper management coming away with millions while the workers whose sweat, tears and toil made them that money end up walking away with four weeks' severance and a "have a nice life" (Read Enron here.), there should be a departure fee for each of these bast***s.





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