There is irony in the news of the Chief Executive Officer of McKesson having amassed an obscene, immoral $159 million pension benefit as it reaches the media at the same time that an American entrepreneur is involuntarily confined to his office in Shanghai by Chinese workers that are being subjected to layoff demanding severance payments.
McKesson Chief John Hammergren has been paid tens of millions of dollars in compensation over the years of his leadership of the company, but that was not enough for him. He must demand and receive more money than anyone could spend in multiple lifetimes.
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I have always supported the ability of the American people to parlay their skills and initiative into the creation of significant wealth. I have never supported the naked, unbridled greed that is inherent in the McKesson abomination and in other corporate board rooms throughout the nation.
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Many members of the middle class that are fortunate enough to remain gainfully employed full-time are being subjected to diminished compensation packages, eroding their quality of life. News of a $159 million corporate executive pension or former Heinz Chief Executive Officer William Johnson garnering a $211.7 million severance package serve to sicken and inflame the general public. How do these individuals show their faces in public outside of the yacht club?
Is there a benefit to society when the average corporate executive receives hundreds of times the compensation of rank and file workers versus dozens of times their compensation in another era?
