Obama's Executive Compensation Plan

[HoreTore]

Make sure he's gentle

You should remember from our last......"encounter" that I like it rough

[Crazed Rabbit]

The government shouldn't interfere in such things. It will only backlash.

Yes, its a populist move that will make some happy. But guess what - the top talent will leave all the firms that are forced to accept these conditions and the economy will suffer.

CR

[HoreTore]

The government shouldn't interfere in such things. It will only backlash.

Yes, its a populist move that will make some happy. But guess what - the top talent will leave all the firms that are forced to accept these conditions and the economy will suffer.

CR

That "talent" is responsible for the biggest economic crisis since the 30's. Please, do explain why it's a bad thing for them to bugger off....

[Crazed Rabbit]

Because it's not the whole class of people responsible, just a few. Most of those people affected by this are not responsible. It's cutting your nose to spite your face.

CR

[HoreTore]

Because it's not the whole class of people responsible, just a few. Most of those people affected by this are not responsible. It's cutting your nose to spite your face.

CR

I sincerely doubt they will be forced to beg in the streets with a 500.000 dollar salary.

Do we have a different moral code for people at the top, btw? Responsibility and loyalty doesn't apply to them, nor do they care about it? Are the commies right when they claim that the only thing senior management cares about is personal wealth, personal wealth and some more personal wealth?

[Hosakawa Tito]

The government shouldn't interfere in such things. It will only backlash.

Yes, its a populist move that will make some happy. But guess what - the top talent will leave all the firms that are forced to accept these conditions and the economy will suffer.

CR

But the government has already "interfered" by making the tax-payers shareholders in these failing companies. If they're "top talent" why is their company failing and looking for a handout of tax-payer money?

Because it's not the whole class of people responsible, just a few. Most of those people affected by this are not responsible.

Hogwash. The entire culture of corporate officer compensation must be changed and this will happen at healthy institutions also. There's no justification for the lavish waste of shareholder's money on $35,000 commodes and $17,000 waste baskets ala John Thain . This isn't an isolated case, it's common practice. Every corporate board member for these troubled companies should be fired and blackballed from ever serving as such again.

[Husar]

Well, isn't it a nice display of how a country is free, offers free choice and a chance for everyone to rise to the top when "top-talents" prefer to be unemployed and others can get to try their job?
It's like with presidents, even if they're good, you wouldn't want them to serve more than 8 years, maybe a similar rule should be made for managers? After those 8 years they could retire and hold speeches for 50000$ each, like some politicians do.

[KukriKhan]

I just wish the poli's would cap their own salaries and perq's. Spread the suffering around, yanno?

In my town, the City workers took a 5% pay cut across-the-board, rather than have forced layoffs (which may come anyway, later this year, if/when things get worse).

City Council, otoh, got a 9% pay raise, that none have declined/refused.

[Lemur]

I just wish the poli's would cap their own salaries and perq's. Spread the suffering around, yanno?

There have been a few minor nods toward this.

[Hosakawa Tito]

I just wish the poli's would cap their own salaries and perq's. Spread the suffering around, yanno?

In my town, the City workers took a 5% pay cut across-the-board, rather than have forced layoffs (which may come anyway, later this year, if/when things get worse).

City Council, otoh, got a 9% pay raise, that none have declined/refused.

I agree, but don't get me started on my New York State Banana Republic representatives or I'll forget my org manners, get banned from the Backroom, and receive a courtesy call from the men in black.... I mean we have to give them such compensation to retain their awesome brilliance or the people of New York will suffer from mediocre leadership...*the sarcasm meter is redlining cap'n, anymore o' this and she's goona blow*

[LittleGrizzly]

This is rubbish!

We need to give these people more not less money, with this extra increase in wages and bonuses we shall attract all the top talent and they will save us from this economic trouble!

Double all CEO's, Board members and top level management's pay!

[drone]

What really needs doing is a rewrite of how corporate officer compensation boards work. More input from shareholders, and more focus on bonuses for long-term success. For all companies, not just the ones taking a bailout. Then, with the federal government as a large shareholder of the failing companies, these limitations can be applied as part of the new process. This would also give large retirement plans and mutual funds a better say in how their investments are to be squandered.

Shareholders really need to be more involved in the process, and people should not invest in companies that allow the board to raid the profits.

[Vladimir]

I just wish the poli's would cap their own salaries and perq's. Spread the suffering around, yanno?

In my town, the City workers took a 5% pay cut across-the-board, rather than have forced layoffs (which may come anyway, later this year, if/when things get worse).

City Council, otoh, got a 9% pay raise, that none have declined/refused.

Good call! This always burns me. Especially in this case when congress recently voted themselves a pay increase.

[Askthepizzaguy]

I just wish the poli's would cap their own salaries and perq's. Spread the suffering around, yanno?

In my town, the City workers took a 5% pay cut across-the-board, rather than have forced layoffs (which may come anyway, later this year, if/when things get worse).

City Council, otoh, got a 9% pay raise, that none have declined/refused.

Personally, I believe the entire Congress should serve without accepting a single dime as a salary until the budget is balanced and the national debt is paid off. That goes for the president and the cabinet too.

I volunteer to serve for free, and you know where I stand. The only thing is, I refuse to ask for donations, advertise, or campaign. I will only debate.

I'm non-partisan and I'd prefer that my personal life stay that way. As such, I won't be running.

[LittleGrizzly]

Well, if they'd skip one cycle of financing, they could use all that profit for financing and wouldn't have to pay any interests. That way they would have more money for financing, unless you are saying that they only use the profits to pay the interest on their loans while taking up ever more loans in which case it's no wonder the industry is in big trouble if you ask me.

I don't think it's quite that simple, alot of business need constant finance to reinvest in thier business and the major problem with a recession is not only will thier sources of finance dry up but other companies will extend thier 'debtor days' meaning they take longer to pay the other company (for stock or whatever they buy) generally larger companies will do this to smaller companies as they can get away with it, meaning little company in example will need finance to make up the temorary short fall, this constant finance and reinvestment as long as it is done well will cause the company to grow...

[Husar]

I don't think it's quite that simple, alot of business need constant finance to reinvest in thier business and the major problem with a recession is not only will thier sources of finance dry up but other companies will extend thier 'debtor days' meaning they take longer to pay the other company (for stock or whatever they buy) generally larger companies will do this to smaller companies as they can get away with it, meaning little company in example will need finance to make up the temorary short fall, this constant finance and reinvestment as long as it is done well will cause the company to grow...

Yes, I'm aware it's more complicated, we have managed to make a matter of plus and minus so complicated that we can discuss the whole thing for hours until everybody is confused, everybody thinks she/he is right and companies go bankrupt anyway. It really works, doesn't it?