Nightline (ABC) - 1992-04-17
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Read a transcript preview of “Nightline (ABC) - 1992-04-17” from malgent, uploaded on 2025-10-09.
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Language: English (original, YouTube automatic captions)
[0:01] Some clouds in the morning, but it'll
[0:02] turn partly cloudy by the afternoon. And
[0:04] we're looking for 64, even more sunshine
[0:06] on Sunday and close to 70.
[0:08] >> Sounds good. Thank you, Jim. And that's
[0:10] our news everybody. We're glad that you
[0:12] are with us. Have a great weekend from
[0:14] all of us here at Channel 2.
[0:18] >> Golden parachutes, ballooning bonuses,
[0:22] millions in annual compensation, and all
[0:25] in a day's work for America's top
[0:27] executives.
[0:29] But now criticism is also going through
[0:31] the roof.
[0:32] >> Who do the CEOs, who do our executives
[0:34] answer to? They're going to take as much
[0:36] as they can until somebody blows a
[0:38] whistle.
[0:39] >> The day of reckoning may be at hand for
[0:41] the fattest paychecks in America.
[0:50] This is ABC News Night Line.
[0:53] Substituting for Ted Capan, reporting
[0:55] from Washington, Chris Wallace.
[0:58] This week, the chairman of the Coca-Cola
[1:00] Company got up at his shareholders
[1:02] meeting to defend his pay and stock
[1:04] bonus last year of $86 million. Roberto
[1:07] Gotswa said that over the last decade,
[1:10] the company's stock went up more than
[1:12] 1,000%.
[1:13] The stockholders cheered. The CO's
[1:16] profits and its chairman are the
[1:17] exception. In these days of recession,
[1:20] mass layoffs, and general belt
[1:22] tightening, most corporate executives
[1:24] are saying very little about what they
[1:25] make. and some have even been forced to
[1:28] take pay cuts. The bosses may have only
[1:31] themselves to blame. During the 80s,
[1:33] corporate profits soared and so did
[1:35] executive pay. But when those profits
[1:38] turned down in 1989, the salaries kept
[1:40] on climbing. Now, angry stockholders a