Federal bailout should mean executive pay cut The world this week has witnessed the historical transfer of power of the presidency to Barack Obama. He inherits one of the worst situations in recent America's history. He is faced with a global economic recession; one TV commentator said that he has the most difficult job in the world.
The bailout of corporations using government funds is going to continue. President Obama, doing the most important job in the United States, will make $400,000 a year. Vice President Joe Biden will make $221,000. Executive salaries at those bailed-out corporations are orders of magnitude higher. Why not have every corporation that asks for a government bailout peg the highest annual salary of the executives of those corporations at the level of the president's and vice president's salary? Do these executives think they are worth more than the president of the United States? How many competent, intelligent people can do their job for $400,000 a year?
Let's call it "America's Salary System" for bailed-out corporate executives. Perhaps such a system would save these corporations so much money, from reduced executive salaries, that they would need less of our money. This system would be a powerful incentive for these executives to keep their incompetent, greedy, overpaid fingers in their pocket and out of ours!
President Obama asked us to sacrifice and to be innovative. When people say such a system won't work, I am willing to paraphrase the words of our president: Yes, it can. Yes, it can.
RIC CANEPA, PLYMOUTH
Could be the heart attack of America The Jan. 16 Star Tribune quoted from Chrysler officials that the $1.5 billion they just received would be for incentives on cars for people to buy, and easier credit for people with questionable credit. HELLO?! Isn't that what got us into this economic situation we're in now?
Maybe it's time that people learned to live within their own means, and not like the "Joneses" next door. I don't want my tax money going to help people buy a car they can't afford. Maybe they could look at all the used cars out there and "settle" for one of them.
CURTIS JOHNSON, JEFFERS, MINN.