Forum Post: executive (over)compensation

How is it not legitimate to point out that Verizon's Ivan Seidenberg made 26.4 million dollars last year,

http://www.huffingtonpost.com/huff-wires/20120319/us-verizon-executive-compensation/

and new Verizon CEO Lowell McAdam tripled his salary last year to 23.1 million,

http://online.wsj.com/article/SB10001424052702304724404577291994201050410.html?mod=WSJ_article_comments#articleTabs%3Darticle

while insisting that the union worker give back the following list of things ?

Now whether you are sympathetic to unions or not I think if you've got any sense of fairness as a human being you must be able to see the hypocrisy of 2 men sucking almost 50 million dollars out of the company in a single year and then trying to take away everything the union worker has ever bargained for.

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• Wages - both annual and progression increases will be tied to your yearly evaluation. If you receive a "Does Not Meet Position Requirements" you will not receive an increase. • Eliminate Night and Saturday Differential • Eliminate Sunday premium pay. • Eliminate Double Time for hours past 49/week • Eliminate all Overtime Caps. • Eliminate city allowances. • Create new job titles for the consumer and business call centers that would work on a commission-based wage schedule. Pensions • Eliminate pension accruals. For anyone currently on the payroll your pension will be frozen as of December 31, 2011 and after that, there will be no more pension plan. • Eliminate the Pension Cash-Out option. • Modify the 401(k) Plan and the CPS. • Eliminate the Sickness Death Benefit. Benefits • Eliminate the current health care, prescription, dental, and vision plans and offer plans with high deductibles and contributions. • Eliminate accident disability benefits. • Cut in half the sickness disability benefits. • Reduce sick time pay to 5 days per year for those members with 20 or more years; 4 days for those with 15-20 years; 3 days for those with 7-15 years; 2 days for those with 2-7 years; 0 days for those with less than 2 years. • Reduce Paid Holidays to seven. Job Security • Eliminate the Job Security Provisions for all employees. • Eliminate the Movement of Work Protection • Eliminate the 35 mile transfer provision • Eliminate provisions in Force Adjustment Plan • Eliminate New Contracting Initiatives agreement - which would allow them to increase the level of contracting Other • Eliminate the Next Step Program • Eliminate the half day on Christmas Eve • Reduce the notice to the Union on Major technological changes from 6 months to 30 days

• Eliminate the Dependent Care Reimbursement Fund