Never let anyone pay themselves!

We need new rules cause this just sucks. CEO's of losing companies ought to be losers too. In today's environment Hershey's Chocolate wouldn't exist because one of Mr. Hershey's bad ideas would have paid handsomely.

If you bought $100 in Pfizer stock in 2000, your investment today would be worth $55.70. While the company’s stock is tanking, CEO Henry McKinnell has the biggest guaranteed pension in the United States—worth $6.52 million a year or a lottery-winning-sized lump sum payment of $83 million—according to the AFL-CIO’s 2006 Executive PayWatch. The information is based on Pfizer’s 2006 proxy statement.

Carrying signs saying “Give It Back Hank!”, hundreds of union members rallied outside Pfizer’s annual meeting April 27 in Lincoln, Neb., to tell company stockholders McKinnell not only has cost the company big bucks in stock devaluation but that he is a leader in the fight to deny pensions to others. McKinnell chairs the Business Roundtable, a major backer of efforts to privatize Social Security.

http://blog.aflcio.org/?p=559