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AuthorI’m Steve Clifford, author and former CEO, here to talk about CEO pay trashing America. AMA!

May 30th 2017 by SteveClifford • 8 Questions • 53 Points

I served as CEO for King Broadcasting Company for five years and National Mobile Television for nine years, have been a director of thirteen companies and has chaired the compensation committee for both public and private companies. I hold a BA from Columbia University and an MBA from Harvard Business School. I’m the author of The CEO Pay Machine: How It Trashes America and How to Stop It—out now.

Proof: https://twitter.com/BlueRiderPress/status/869230610635784192

Q:

What is the most effective way as a disgruntled US citizen to do something against this kind of flagrant self rewarding system? Is there anything us poor pleabs can do?

A:

Only political action can help. Corporations will not reform themselves. You can try to nudge progressive organizations to become more active here and support a luxury tax on executive pay.


Q:

How much money did you make when Oaktree Capital Management purchased 90 percent of National Mobile?

A:

I did fine but as a CEO I made between 10 and 20 times what the average employee was paid.


Q:

What is your favorite dinosaur?

A:

Senator Ted Cruz


Q:

What's it like being a big red dog?

A:

On the internet no one can tell.


Q:

What is the best advice you have ever received?

A:

"Don't look back. Something may be gaining on you." Sachel Paige


Q:

what is the strangest compensation scheme you've seen or heard of?

A:

Probably the golden parachutes for the bankers who caused the sub prime meltdown, for example $161 million to Stanley O'Neal afer he drove Merrill Lynch into the ground.


Q:

I could probably drive a company into the ground if I was in charge of it too, how can I get a similar job like Mr. O'Neal? Do I need to have track record of failure?

A:

You need to look the part, have an MBA from an elite business school, great self-confidence, some talent and a lot of luck.


Q:

How can I get into a dishonorable but extremely highly paid field with an engineering degree from a state school?

A:

Use your engineering expertise to provide tax appraisals.