Congress Must Hold Hearings With CEOs Who Lay Off Workers

I'm tired of reading about the job layoffs daily while witnessing the lavish spending and bad decisions of incompetent CEOs. After watching the attitudes of auto executives change under congressional questioning, I decided to do something about it and started a petition.

To: U.S. Congress

During an unprecedented economic downturn, some American companies are needlessly laying off workers. These layoffs are the decisions of CEOs and executives who earn many times what the average worker makes and often get multi-million dollar bonuses. Ironically, these executives -- not the workers -- are often the reason for a company's difficulties.

We believe that unneeded layoffs are a tremendous threat to the U.S. economy. Simply put, workers without jobs can't afford to buy goods or services. The massive layoffs are creating a spiraling, downward cycle in the economy that effects not just the families of these laid off workers but everyone.

We realize that sometimes a company must lay off workers. However, we agree with the sentiments of CEO Barry Diller, who recently said:

"The idea of a company that's earning money...not losing money... to have cutbacks so they can earn another $12 million or $20 million or $40 million in a year where no one's counting is really a horrible act when you think about it, on every level. First of all, it's certainly not necessary. It's doing it at the worst time. It's throwing people out to a larger unemployment heap for frankly no good reason. It's not that you don't want to earn as much money as you can -- it is your obligation, of course -- but companies have obligations beyond that and they certainly have obligations beyond that at certain times, in the times in which they operate."

We call on the members of Congress to hold immediate hearings and to call the CEOs of these companies to account for themselves and these harmful layoffs. Let the American people see the CEOs answer questions in a public forum, explain their decisions and discuss their executive pay packages.

The recent example of the hearings with the big three automakers have shown that CEOs can change their behavior under public scrutiny. We hope these hearings will bring about public awareness and get the executives of all American businesses to act in a manner befitting the times and more beneficial to all.

Sincerely,

The Undersigned

Please sign the petition here. If you want to help, please share with this others and feel free to contact me via email at [e-mail] . I have a website up and running at

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I'm tired of reading about the job layoffs daily while witnessing the lavish spending and bad decisions of incompetent CEOs. After watching the attitudes of auto executives change under congressional ...

I'm tired of reading about the job layoffs daily while witnessing the lavish spending and bad decisions of incompetent CEOs. After watching the attitudes of auto executives change under congressional ...

Comments

[Citizen54]

The first step is to lay off every single member of Congress.
Let them get a taste of unemployment instead of lifetime employment.

[montemalone]

The peasants are revolting.
Here in Chicago, Republic Window shut down with no notice. Union rules require 60 days.
BofA cut off their credit.
The employees are occupying the property until they get paid, including wages, accumulated vacation and sick days.
The bosses new they had problems long ago. I'll bet they got paid.

[ChaoticGood]

The problem is that multi-national corporations will move offshore to low tax havens like Dubai if we try to constrain them. We must take care of our own and realize that Government is not a business. I think we have confused that concept over the last 30 years.

[JBS]

Lock the CEOs in Gitmo and see how far they manage to get off-shore shackled at wrists & ankles.

Hearings are a waste of time.

[Gronkie]

They can go offshore if they'd like, but then they become foreign entities and we should restrict their ability to access the American marketplace. At this point we don't restrict foreign companies, but we should.

[research]

I agree with the sentiment, but not the course of action.

Congress has the power right now to condition the auto loans on serious fat cat income trimming.

No need for hearings.

They just need to DO IT.

[FreedomCorpse]

Doesn't it make everyone feel good that GM opened a $300 million dollar plant in Russia on Nov. 7?

[LewDan]

Forget Congressional hearing, CONGRESS is the real problem. Once upon a time there was the Fair Employment Act. It was even enforced. Now, thanks to Congress, employers routinely demand 50-60 hours of work while paying workers for 40. No overtime required, thanks to CONGRESS.

In other words 25% to 50% of much of the workforce has been replaced by workers forced, BY Congress, to work for nothing. We tout it as "increased productivity."

"Part-time" employees are paid far less than full-time employees for the same work because that portion of salary in "benefits" under the quaint "Fair Employment Practices" don't apply to part-timers. Thank-you Congress. So suddenly, Surprise! -- all the jobs are part-time!

My suggestion -- don't petition, call you Rep and DEMAND WORKERS BE PAID AND EMPLOYERS BE PROSECUTED, not "exempted." If they won't do it FIRE THEM next election.

[annette1]

Lee, I just signed but so far only 249 have signed! Please make this a prioety HuffPo on your very front page for all to see and be part of. Excellent Lee, thank you

[JBS]

That's because Congressional Hearings are a waste of time; a bunch of hand wringing and no action.

[beaupritchard]

I'm not sure I understand the idea of giving money to keep someone in business who trying to send your job overseas.

Shouldn't we be asking companies that receive bailouts to first come up with a business plan that keeps jobs in the United States.

[Tweet]

What makes a recession? Unwillingness or inability to spend.

Unwillingness is a function of fear. Everyone is spreading the fear. Even Obama has been playing into it.

Inability is due to loss of credit, and loss of jobs.

Congress bailed out the banks to open the credit spigot. They forgot to require that the banks use the money in that way. The banks didn't.

Congress will bail out the Big 3 to keep millions of people employed. But these companies see success as staying alive until things get better. In order to do that, t they are going to lay off workers.

IWhy not simply forbid companies to lay off? And use pay bailout money to pay workers' salaries? The alternative is paying them unemployment benefits - which is essentially the same thing, except you get no return.

Those companies which take Federal bailout money would be forbidden to lay off and would pay wages out of the bailout cash. Those companies not in on a bailout can be forbidden, for x period of time, to lay off except for cause or poor performance. The Federal government will pay the otherwise laid offt employee and take an equity stake in the company. And/or the wages can be considered a form of loan which the company must later pay back.

Now you have people earning, with a government guarantee. There goes fear, and there goes inability.

[Gronkie]

I agree with the idea of a firing freeze. No company should be allowed to lay off employees for 6 months. One of the biggest problems right now is that even those with safe jobs are worried so they aren't spending. A firing freeze would allow everyone to breathe again and start spending. This is especially true of any company that is taking money from the government.

[mikekopac]

People there is something on the horizon that is much more effective than hearings. It is the Employee Free Choice Act. It will be the first significant legislative battle next year. Its passage will mean the resurgence of the American labor movement. We can have a just society, but we must fight for it.

[quantumspin]

But hearings BEFORE the layoffs happen, not after the fact, and this goes for temporary and part time positions too.

Beyond this, I think Congress should be forced to answer to the public in reverse hearings---where the public can ask Congress questions, in a hearing room, on the record, on tape.

Congress has let lobbying and special interest money detach them from their true consitutents---the public who vote and pay taxes.

"Say yes to 'reverse hearings'!"

[Bluedrgn]

This CEO Barry Diller actually sounds resonable. Amazing to hear a CEO say that was irresponsible to lay off workers when a corperation was still proffitable! Especially when the fat cat CEO's are getting raises.

There should be a law that workers can't be laid off unless CEO's take a pay cut of eqaul percentage to the number of workers laid off

[Teritt]

Seems to me that stock prices tend to rise anytime a company announces lay-offs (at least that seems to happen for the company I work for). Thought Wall Street always rewarded companies for cutting costs - and ever since the Gordon Gecko days, employees were nothing but cost, no matter how HR tried to spin it.

Greed got us into this mess, and I'm afraid it will take more than petitions to get us out.

[langerlongshot]

the corporation i work for is struggling. still quite profitable, but struggling under a massive debt load. a debt load aquired three years ago when our boy wonder ceo decided he wanted to be a bigger player in the industry and bought a failing chain. and paid too much. we made it over 150 years with NO layoffs ever.

now 1600 people have been laid off. i'm currently training the people from india, where my job is being outsourced to. after over 18 years as a good employee i'll be unemployed march 1st. in the worst economy in decades.

our ceo took a "pay cut" from $5.6 million a year to only $4.8 million a year...

[Dave01]

What will the poor baby do losing $800,000 a year? The poor thing.

One of the companies I worked for years ago (before they outsourced our jobs to India) told me that I would need to train someone from India to do my job, of course at the time, I was the only one in the company that knew how to do my job, and I was self-taught. I refused to train him/her or whoever it was. I figured you're gonna have me train someone to take over my job so you can lay me off, FU. I quit.

[Samalabear]

The CEO of Costco reportedly makes $350,000 a year and he's personally involved in this huge company at all levels. He was on 20/20 last year, and he seemed perfectly happy with what he made and apparently he does a very good job. The last CEO of Merrill Lynch was making $85 million. How well is ML doing? I'm sorry, but something has to be done finally. Public shaming sounds pretty good to me.

[scnilajo6]

reason why i shop Costco and not SAMS

[customgreen]

While the basic premise of this article seems good it really isn't. I am by no means a fan of big business, or arogant CEO's. However hauling CEO's into congress everytime there is a layoff is crazy. If that is what you really want get ready for a long line in front of the capitol. Besides when was the last time anyone in congress do anything other than being a gasbag? Case in point. Corker that pathetic Senator. He had the absolute gall to assail the head of the UAW about his unions high wages and high pension costs. He actualy said that they should send the auto companies into bankruptcy to help get rid of the pensions. This from a jerk who gets a lifetime pension and health benifits for sitting on his silly ass and having interns do all his legwork. That tool!

[Lee Stranahan - Huffpost Blogger]

I understand people's concerns that it may not make a difference but I hope you can take the time to sign the petition, at very least.

I believe we're at a different point in history - people are fed up, we have an incoming administration that was elected on a platform against corporate greed, and the internet has changed communications. The world can now watch what happens and talk about it instantly. This is our time.

[customgreen]

I do not agree foe a lot of reasons. One big reason is the clogging up of already clogged congressional calendars. Congress is notorious for not knowing the right thing to do. Remember they held NO hearings on the 700 billion loan package and are now mad that it was not used as they thought it would be. Well DUH! Leave legislating up to congress and keep them from grandstanding about businesses. I am sure there is some agency in the alphabet soup of Washington that could put the screws to bussinesses that hollow out companies in order to drive up shareholders value.

[Samalabear]

I've signed petitions for universal health. Six months ago people laughed at me -- six months ago!! Now everyone is talking about it -- it is becoming the No. 1 priority. This recession/depression can add millions to the uninsured line and, as we've seen with the Big 3, employer-provided health care is one of the big reasons why we are no longer competitive. It is also the reason why a lot of jobs (lots of service jobs, too) are now shipped overseas. I agree with you, this is our time.

[aofh]

I disagree. Hauling their asses before Congress and making them justify those decisions is a sure way to signal that the business ethos must change. Corker, and others, won't get it, but as the sentiment spreads his constituents will begin to question why they support him clearing the way for challengers for his seat with values more expressive of the new norm/ethos. This isn't going to happen over night, but if we don't have faith it won't happen at all.

These practices have been going on for a generation and the cumulative effect is where we are now. The economy has stumbled for the same or similar reasons several time over the past 20 years, but we've ignored the root problems. That this petition has been drafted and we are discussing this issue indicates that a shift is in the works.

[customgreen]

I agree. Business (big business) has fallen into an era of greed at the top. It is sad to see them go out of there way to compensate the big guy while laying off the little guy. However, congress will only go into rip and strip mode while doing hearings on t.v. There would be nothing concrete that would come out of it. It might make for good t.v. watching the CEO's get their asses reamed, but in the real world of big business it would do little to affect change. `I have zero confidence in ANY cogressperson or Senator doing the right thing. They will always do the convienent thing. I would rather see a President Obama using his skills as a speaker and the bully pulpit to sway opinion force change from the public.