By PETER HUSSMANN
On Friday, 5,000 people protested Whirlpool's decision to close its Evansville, Ind., refrigerator plant and move the production to a new $10 million facility in Mexico, a decision that will put 1,100 workers out of a job.
On Monday, a Securities and Exchange Commission filing shows that Whirlpool's CEO, Jeff Fettig, was paid $10.8 million in total compensation last year, a 77 percent increase.
Interesting juxtaposition, eh?
I really can't get a grip on this.
While most of us are struggling just to pay the bills, Fettig's salary last year included more than $125,000 in "perks" for such things as personal use of company's jet, discounts on Whirlpool products and financial planning services.
And this is the way it should be, right? This just how the marketplace works, right? Nothing personal about Whirlpool's decision to close its Evansville plant (like it did in Newton and I don't remember how many other communities after it took over Maytag)? Just the fallout for returning value to its shareholders?
I wonder what the future holds for my seventh grader? I wonder what kind of institution (out of sight, out of mind) awaits my physically handicapped son?
If anybody has any answers I'm all ears.
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