I'm not disageeing, however, the comps/benefits of a CEO (which is what I compared a police chief with) are much MUCH more lucrative. Yes, there is risk involved in being a CEO of a private company, but the pay is much better too. Ask Alan Mulally of Ford. His one year pay was more than a lifetime for a police or fire chief.Manhattan Buckeye;776068 wrote: "They are no different than CEO's. "
But there is a big difference in the way they are comped. Public "servants" get paid currently in 100% cash and a defined pension backed by the PBGC, and they have the most guaranteed funding of any employer since the underlying government entity can always tax more. Executives of private businesses, particularly public companies, typically take most of their comp in options/restricted stock and there is an element of risk to the comp - along with the risk that the business will continue to survive, unless of course it is GM or other company deemed too big to fail.
The comp/benefits of some of these people are downright insane, particular the pensions that kick in after just 30 years. That makes no economic sense at all in the 21st century.
dwccrew
Not Banned
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posts
dwccrew
Not Banned
7,817
posts
Sat, May 21, 2011 8:15 PM
May 21, 2011 8:15 PM
May 21, 2011 8:15pm