Perpetuating an attitude

I'm so glad that the Sun Journal printed the Bangor Daily News article by Nick Sambides Jr. about Fraser Paper Inc. (Feb. 15). Otherwise, people in this area would probably not have been aware that Fraser executives and corporate chiefs were given hefty bonuses plus stock options on top of impressive salaries while the company was on the brink of bankruptcy.

The article quotes a union worker, Duane Lugdon, that workers reluctantly took an 8.5 percent pay cut while the executives paid themselves handsomely. Lugdon said, "How you can, in good conscience, take bonuses when the company is facing bankruptcy while reaching into workers' pockets is impossible for me to understand."

Why have we, as a state and a nation, perpetuated this attitude that executives are worth thousands of dollars more than those who do all the work?

Joyce White, Stoneham

What do you think of this story?

Login to post comments

In order to make comments, you must create a subscription.

In order to comment on SunJournal.com, you must hold a valid subscription allowing access to this website. You must use your real name and include the town in which you live in your SunJournal.com profile. To subscribe or link your existing subscription click here.

Login or create an account here.

Our policy prohibits comments that are:

  • Defamatory, abusive, obscene, racist, or otherwise hateful
  • Excessively foul and/or vulgar
  • Inappropriately sexual
  • Baseless personal attacks or otherwise threatening
  • Contain illegal material, or material that infringes on the rights of others
  • Commercial postings attempting to sell a product/item
If you violate this policy, your comment will be removed and your account may be banned from posting comments.

Advertisement

Comments

 's picture

They have to pay the

They have to pay the executives who drove the company into bankruptcy even more in order to retain their immense talents.

 's picture

Well tron,  have you looked

Well tron,  have you looked at what Berry O has done with Wall Street. Let me see, Goldman and Sacks, AIG to name a couple have all made out well with executive pay outs. Matter of fact payouts in 2009 and 2010 were all thanks to Berry O and his little bud Timmy Guithner. I think I remember Berry saying that wouldn't happen.  So thats how much you know about what is really happening when it concerns bonus payouts.

 's picture

Who bailed out Wall Street?

Who bailed out Wall Street?

PAUL ST JEAN's picture

Why does Tron, in every one

Why does Tron, in every one of his posts, blame anything, regardless of its nature, on the republicans? He blames them for everything no matter what the topic of the forum in which he's posting might be. T...are you not aware that the Democrats are in power and have been since the last two years of the Bush administration? The Democrats; say it....D-E-M-O-C-R-A-T-S... They're in power, hoss. Have been for almost three years. All the things you hate about what's wrong with America, THEY OWN. Why can't you get that through your bovine scull?  The republicans need to be the NO party, just like a father has to say no to his kid when he asks the old man for $200 to go to the Friday night dance every week. They'll spend us into total bankruptcy if someone doesn't rein them in.

Advertisement

Stay informed — Get the news delivered for free in your inbox.

I'm interested in ...