Leo Hindery, a managing partner at InterMedia Partners, said Thursday on Fox Business that executive pay had become too high in the United States and was not longer based on performance.
He noted that previously it was considered appropriate for business executives to make 15 to 20 times more money than the average employee. While many countries have continued to embrace the concept, the United States has allowed executive compensation to soar.
The average business executive in the United States is now paid 400 times more than the average employee, who earns about $34,000 per year.
“Nobody knows what the right number is,” Hinderly said.
But it was “common sense” that executives getting paid 400 times what the average employee makes was too much.
“The first thing we have to do is make compensation really consistent with performance,” Hinderly added. “What we know for a fact is every time a CEO misses his targets, well the bonus plan is reset.”
He said those bonus plans needed to be tied to “actual results.”
Watch video, courtesy of Fox Business, below:
‘Go look at President Trump’s Twitter’: Portland right-wing rally organizer claims ‘mission success’
The organizer of a far-right rally in Portland, Oregon claimed the event was a "success" after President Donald Trump attacked Portlandiers protesting the group.
"A confluence of protesters on opposite ends of the ideological spectrum merged on Portland’s waterfront Saturday in a tense but relatively uneventful face-off that brought national attention, including a tweet in the hours before the protest by President Trump decrying the city’s signature anti-fascist movement," the Oregonian reported Saturday.
When a similar right-wing rally in Charlottesville, Virginia killed Heather Heyer, Trump argued there were "fine people" on both sides of the "Unite the Right" rally.
Why was Jeffrey Epstein buying size 5 women’s panties — while in jail?
The Miami Herald has another bombshell report on Jeffrey Epstein, who died in a Manhattan jail while waiting to stand trial on federal sex crimes charges.
"A decade ago, during a brief stint in Palm Beach County Jail, convicted sex offender Jeffrey Epstein made an odd purchase at the facility’s store: two pairs of small women’s panties, size 5," the Herald reported Saturday night.
The newspaper noted, "the panties raise questions about why a childless male inmate, accused of sexually abusing girls as young as 14, would be allowed to buy female undergarments so small that they wouldn’t fit an average-sized adult woman."
‘Not surprised at all that the president sides with the white nationalists’: Native American Congresswoman
One of the first two Native America women blasted President Donald Trump for siding with white nationalists on Saturday.
Following the fatal "Unite the Right" rally in Charlottesville in 2017, Trump claimed there were "fine people" on both sides when he defended the alt-Right and Neo-Nazi event.
Two years later, Trump has gone even further, blaming only the anti-fascist activists confronting far-right marching in Portland, Oregon in a way that reminds many of the invasion of Charlottesville.
Rep. Deb Haaland (D-NM) was asked about Trump's tweet by CNN's Ana Cabrera.