GMA Attacks ‘Staggering’ CEO Salaries: ‘You Must be Kidding’

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On Friday’s "Good Morning America," co-host Robin Roberts complained about the "staggering" salaries of American CEOs. Citing a new Forbes magazine report claiming that these individuals received a 38 percent raise last year, Roberts engaged in typical class warfare. She incredulously stated, "It has us saying, come on, you must be kidding."

Reporter Dan Harris and guest William Baldwin, editor of Forbes, listed several examples of supposedly outrageous CEO salaries and proceeded to divine who deserved such money and who did not:

Dan Harris: "Even the editor of Forbes has some trouble stomaching some of the things his staff uncovered this year. Oddly enough, number one on the list is Steve Jobs, CEO of Apple, who makes just $1 a year in salary."

William Baldwin (Editor, Forbes magazine): "Mr. Dollar-a-year, Steve Jobs, he's a great executive, don't get me wrong about that, but he gets a lot of money for substitute paycheck."

Harris: "Last year, by Forbes' calculation, Jobs made nearly $647 million in a stock bonus. That bears repeating $647 million. That's more than the GDP of the nation of Djibouti, more than the combined income of Oprah, Tiger Woods and Steven Spielberg. You have no problem with people getting rich, but they need to earn it."

Baldwin: "They need to earn it."

Irrelevant comparisons aside, Mr. Harris neglected a few pertinent details. For instance, in May, shares of Apple stock closed above $100 for the first time and increased 18 percent overall in 2007. So, perhaps, Mr. Jobs is earning his compensation.  

The analysis of Mr. Baldwin continued, alternating from attacking highly paid CEOs of companies with stagnating stock prices, to complaining about businesses that he implied would have done well on their own:

Harris: "Or Ray Irani who made nearly $322 million last year running Occidental Petroleum."

Baldwin: "Did that require great genius to have a stock in the oil business that went up a lot over the last five years? Remember, your gas prices are going up anyway, I don’t think that's because this executive is clever at pricing gas."

Harris concluded by wondering what could be done about "skyrocketing" CEO pay:

Dan Harris: "The people at Forbes believe public disclosure, sunlight, is one of the best remedies, but they say companies seem to be trying to make it harder to find out how much their executives are making. They point to this corporate filing from Sprint/Nextel corporation for the section on executive compensation is 60 pages long. And I brought this for you for some weekend reading."

Roberts: "60– A little light reading. 60 pages long? Again, it's okay to make a good salary, but it's when your company is not doing well that people scratch their head a little bit and say how can this be?"

Harris: "As the editor says, that's the sin."

It should be noted that companies such as Apple and Occidental Petroleum are doing well. 

Finally, at least Roberts allowed for the caveat that it’s "okay to make a good salary." Perhaps, in a future segment, GMA could investigate the skyrocketing salaries of network morning show hosts.

—Scott Whitlock is a news analyst for the Media Research Center.


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Tit for Tat...I'm going to do

Tit for Tat...I'm going to do a "study" on these tools salaries for being able to read off cue cards...and by the way I am not kidding.

There's a good article abou

There's a good article about the media's double standard by Noel Sheppard here.
http://www.businessandmedia.org/news/2006/news20060426.asp

It's really none of their bus

It's really none of their business what those execs make they are private companies. It's nice to know that in this country if  you achieve something, you get rewarded. Anyone has the opportunity to excel and prosper. This all boils down to the left pushing class warfare.

Income redistribution anyone?

Income redistribution anyone?

The socialist response from the media is to be expected. Ya gotta love the hypocrisy of limousine liberals.

Did these morons divulge how

Did these morons divulge how much the CEO of ABC makes???  How about all of the other media outlets???   Yeah, that's what I thought (and expected).

TIME: 100 Most InfluencialW

TIME: 100 Most Influencial

What kind of jack are these people bringing in?

JDW

News media: Scoreboard for terrorists

What GMA ought to be railing

What GMA ought to be railing about is how many frigging times can our local, state, and federal governments tax profitable business gains.  In this example, the corporation has already paid taxes at the federal level of 35% of their profits(this, obviously doesn't account for the taxes paid at the state and local level in each and every state that the corporation does business in).   Next, the employee is taxed on that part of the corporations profits that are allocated to him or her at the rate of up to 39% at the federal level alone.  Finally, when the person is dead and buried, the government will be right there extracting its last full measure as the person's casket slides into the ground. 

Even if you don't agree with me on the insidious and rapacious nature of the taxes that are extracted from us by various levels of government in our country.  Know well, that while the cue card readers rail about high salaries, the government has extracted their share well before the person gets to touch theirs. 

Interesting that the media wo

Interesting that the media would choose to focus on Steven Jobs.

Steven Jobs is worth every single cent of his non-"salary".  He created and dominated a market, not once, but twice.  First with the Apple Computer, then with the I-Pod when Apples lost their market share. (I was at a meeting yesterday, when a young colleague pulled out the newest I-Pod to show me pictures of his new baby. I was shocked, it was so tiny and extremely elegant). 

The fact that Jobs created a market, and drove a company to dominance once, is in itself pretty impressive.  But the life cycle of most dominanting-the-industry companies  is to lose the initiative once they become the industry leader, lose market share, fade away or get bought out.  Yet Jobs is talented enough to drive his organization into a second spectacular period of growth and market dominance, while diversifying his product line.

Do these media twits think someone with this kind of brain power and intuitive sense of the public's consumer desires is born every day?  Personally, I suspect Jobs may be underpaid.  

Typical media tripe.  They sound like a bunch of whiny teenagers...."it's so not faaaaiiiiir".

Remember Hillary said she wan

Remember Hillary said she wanted to take the profits of big oil...

Well, maybe we should.  When

Well, maybe we should.  When the oil companies are using Hurricane Katrina and refinery problems as an excuse to raise gas prices to unbelievable levels, then making record profits at the same time.....

Gas prices are back up to $3.00 a gallon and there's no major hurricanes to scapegoat right now.  What's their excuse this time???

This is not vengeance.  Revenge is not a valid motive - it's an emotional response.  No, not vengeance.  Punishment.

You forget the government alr

You forget the government already grabs a percentage of their profits, more than almost any other industry.

And since refineries are, gee I don't know, a rather big part of the oil process, problems with them is hardly an "excuse" for high gas prices. That's like saying having your vocal cords cut up a bit is an "excuse" for not talking. But since it's Big Oil, they must be evil and have "excuses" instead of valid reasons, right?

As for profits, yes, how sinister that they should be smart enough to continue making profits (don't know where you got your "record profits" data from, as oil isn't even the most profitable industry right now) despite troubles. It would be better of course if they just went bankrupt and crash the economy. Those evil corporations, making their evil profits instead of throwing up their hands and quitting!

And there may not be Hurricanes Katrina, but they still have to contend with government interference and regulations, high taxes, constant threats to "windfall" tax them, pressure from the "Go Red" er "Go Green" crowd, prevention of finding new oil sources, the refusal to allow them to build new refineries, market changes, supply and demand, etc. etc. etc.

It's some kind of guilt t

It's some kind of guilt thing with the Left. Guilt about individuals being financially successful, and/or pointing out those that are financial successful as a bad example. The Left is all about fitting in, getting along, and being equal. The Left is all about Conformity; being of "one mind". Frightening stuff, really.

The Left attempts to apply heavy stigmatic social pressure to the wealthy in their use of the MSM, publicly and loudly lambasting the successful for having the initiative and the business acumen that helped them achieve their success(es). The Left wants society to see the successful in a negative light, implying the successful are Scrooges that hoard their money for their personal pleasure, intimating, through good ol’ Communist thought, that the rich don't “share" their wealth. Many times, these insanely wealthy people are passionate in their numerous contributions to charitable causes and foundations, even the welfare of the less fortunate in third world countries receive attention from the vastly wealthy.

Why did the staff of "Forbes" deliberately zero in on the successful and their salaries? This story was dreamed up for what purpose? To make what point? The GMA folks say the wealthy need to "earn" their money.

What makes them believe the wealthy haven't earned their money? Isn't having the intelligence and foresight to create, staff, run, and maintain a successful business earning your money? Running the show is the big perk of being successful. Calling the shots. Everyone wants to be the boss. It's the goal of millions of small business owners. Gotta start somewhere.

Having independent thought, successful business practices, and making money are bad, bad things to the Left. The Left responds to the individual successes of others by behaving in ways that reveal their inner thought process, "You're not conforming to the rest of society. You're making a name for yourself. You're flaunting your wealth and success. You think you're better than we are. We feel guilty that we don't have the same initiative. You've achieved a level of success we never will because we don't have the same kind of drive and are incapable of independent thought. You should feel guilty about that. You rose above your (most likely) liberal education. Because we have judged you and believe you have so much, so much more than you could ever need, you should share it with those of us that don't. Just because. Everyone needs to know how rich you are so they can be envious, jealous, and suspicious of how you became wealthy. We want people not to trust you because of how wealthy you are. And we'll make something up and accuse you of wrong-doing because, if you don't kowtow to our pressure, we will destroy you... personally."

Achieving personal success and happiness in the fulfillment of your version of the American dream, whatever that may be, is part of the reasoned fabric woven in the creation of our Country. Hard work equals success. Your word is your bond. Accept responsibility for your actions. Live by the Golden Rule. Also, the emulation of the successful as role models, in all walks of life.

The Left says that's not good enough.

Interesting, though, the Left are completely blind, deaf, and dumb when it comes to holding their owner, George Soros, accountable for similarly "not earning" his billions in personal annual income as they speed away in their SUVs (usually in an alcohol- or drug-induced stupor), fly off in their private jets, chit-chat at lavishly catered cocktail parties, or walk through one of their well-lit mansions nibbling on their blasé-sophisticated, grown-up infantile, exclusively imported, bourgeois brie.

For those that have achieved that level of success and wealth - more power to you and congratulations on many jobs well done over the years.