The CEO Of Texas Roadhouse Has Given Up His Salary And The Company Will Use The Money To Benefit Restaurant Employees "Giving up my salary is the least I could do." https://www.delish.com/food-news/a31978005/texas-roadhouse-ceo-salary-coronavirus/ The CEO of Texas Roadhouse is going without a salary in light of the COVID-19 outbreak and the effects it has had on the restaurant industry. Kent Taylor, CEO and president of the restaurant chain, will "forgo his base salary and incentive bonus from the pay period beginning March 18, 2020 and continuing through January 7, 2021," according to a recent filing with The U.S. Securities and Exchange Commission. The filing, which was submitted last week, went on to say that money will be used to "assist front-line hourly restaurant employees." He was compensated about $1.36 million in 2018, according to USA Today. Kent confirmed the news to Louisville Business First, saying that going without a salary is a way to put his values into action in a time when employees need him. "I have always said we are a people-first company that just happens to serve steaks," he told them: "Giving up my salary is the least I could do to show my commitment to that belief." In a recent statement on the Texas Roadhouse website concerning the coronavirus outbreak, Kent also confirmed that Texas Roadhouse locations are open for to-go and curbside services in places where their dining rooms have closed. Some locations have even turned their parking lots into drive-thrus in order to serve their typical menu. "We will never take your trust for granted and, remember, local communities across America will be stronger on the other side of this crisis," he concluded. T_Man
It's nice to see CEO's and owners of small and mid size companies stand up and try to do the right thing... Sometimes it just takes one to do something good or bad to get others to follow... T_Man
Yes Trump has famously donated his Presidential salary. That is a good thing for him to do. At the sametime he's been altering policy in ways that benefit his family businesses, businesses that he hasn't separated himself from and still refuses to reveal how much money he is making from them. He's also been traveling quite often to his resorts for vacation on the US dime and even having foreign delegations come to those resorts. On top of that he has been overcharging the Secret Service during his stays at his properties. Foreign interests are also bringing a lot of business to Trump properties since he came into office. Personally I would rather him take his presidential salary than any of the other things he's doing that benefit his business.
I have mixed feelings on it. No doubt, it's a generous thing for him to do. But, the pattern seems to be that the people closest to the front are the ones choosing to make the hard sacrifices while the more insulated await their $1,200 check from the government (including me, I suppose). Some I'm sure are donating and perhaps very generously. But it's the people who know people who suffer who seem to be likelier to give of what they have. The government bailout helps socialize the cost of the epidemic, but obviously not so much that specific people aren't feeling a pressing need to make personal sacrifices. The burden should be shared more broadly.
I hear you... But at least it's a start and not another CEO or owner only looking out for themselves... T_Man
