Chief executive officer (CEO)

A chief executive officer (CEO) or chief executive is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer in charge of total management of a corporation, company, organization, or agency. Most corporations here in USA are paying CEOs too much and I find that disgussing. We are paying the President of USA, traditionally, who is the highest-paid public employee. President Bush currently earns $400,000 per year, along with a $50,000 expense account, a $100,000 nontaxable travel account, and $19,000 for entertainment.

The First U.S. Congress voted to pay George Washington a salary of $25,000 a year, about $566,000 in 2007 terms. Washington, already a wealthy man, refused to accept his salary; however, he asked for his living expenses to be covered.

Shareholders needs to speak up and tell the executives to shape up or else. While I understand the logic behind the salary amount which competition is expected because they attract a large number of qaulified applicants. I know CEOs face long hours, considerable travel, and intense pressure but we have to remember, there are hundreds of thousands CEOs who are not making over $ 150,000 a year including non-profit agencies. It is very laughable when many CEOs earning more than 100 times the average wage. They should be helping the company and sharing their wealth with their workers. CEO's bonuses are even WORST and their employees working their butts of making the companies success, executives should also have their bonuses should flow through so all members of a company have a reason to perform.

I like this commentary from Wall Street Journal: My Plan to Stop Corporate Abuses even though I don't completely with this thinking. I support the logic behind the reasoning.

In 1960, the average CEO made 41 times what the average worker made. But in 2005, the average CEO made over 400 times the average worker's salary. The share of corporate profits going to CEO pay has doubled since the 1990s. Meanwhile, the value of the minimum wage has plummeted 30% since 1979.

Economic's chief purpose is to discover and refine just and loving means of creating, distributing, and consuming wealth to overcome poverty and to increase the material and spiritual prosperity of all citizens. Wealth is permissionable as long as we gain wealth with honesty and without cheating and stealing. Throughout the Old Testament, there were lists of people who were wealthy and in fact the Book of Proverbs wrote who we use our wealth. Economic system is stewardship. In this country, people have equal opportunity to be successful but not everyone would be successful. For an example, just as everyone have the equal opportunity to excel in sports and make millions but only 2% of the population have the talent and gifts to play and make that kind of money.

In the United States, work ethic in form of stewardship and that economics are called for efficiency and productiveness of common sense and a strong sense of disiring to be a good steward of taking care of the country's citizens. America's attitudes towards money should be in their conviction that money is a social good, not a private possession and that the economic main purpose is the welfare of everyone in society, not the personal pleasure of the person who happens to have control over it. We all have some kind of specific needs which usually means commercial or mercantile activity engaged in as a means of livelihood in terms of commercial or sometimes an industrial enterprise in transactions especially of an economic nature. Free market capitalism produces long-term economic growth.

My final thoughts on the political economic system: Capitalism (or socialism or any other economical system) is NOT the problem... its PEOPLE and their attitudes.