60 Minutes: CEO Making $2.77 Million Wants Protectionism for His Company Nucor and Big Steel
Click on the arrow above, and watch Nucor CEO Dan DiMicco argue why his company and his industry need protection with "Buy American" provisions in the stimulus bill.
Won't that lead to retaliation from countries around the world asks reporter Leslie Stahl? "No, not true, that's garbage," says DiMicco. Watch the full 60 Minutes episode tomorrow night.
Update from Reuters: The final version of the economic stimulus bill requires public works and building projects funded by the stimulus package to use only U.S.-made goods, including iron and steel.
Question: If Big Steel gets protection with "Buy American" provisions, would Mr. DiMicco and his top Nucor executives agree to a $500,000 pay cap instead of their current salaries, e.g. $2.77 million plus an additional $435,000 in options for Mr. DiMicco, and similar multi-million dollar amounts for his VPs?