Limit executive Incomes

[ccoleman77]

Obama comes out this morning wanting to limit the amount that executives can be compensated. And this does not soley apply to companies that accepted bail out money he wants to apply it to all banks and wall street corps. It goes beyond socialism to absolute stupidity and shows the lack of knowledge that he seriously has about how a corporation is run.

 

[revpilot]

We could see a mass exodus of talent from this country right when we need it the most. There's a lot of things that need to be fixed but who wants to be involved if you get your compensation taxed at 90%? If I were a finance genius, I'd be touring Europe with resume in hand. I suppose next week they'll say nobody can leave the country.

 

[Weekday Warrior]

got your brown shirt handy?

 

[Wolfrun]

Please make it a point to watch for the up coming Tea Parties. We are going to have to do something soon. This dink is out of hand.

 

[Weekday Warrior]

One of the basic flaws with fundamental socialism, what incentive is there to be mega successful?

Worse yet it trickles down to the average person...

When you no longer see ultra rich guys leading the playboy lifestyle what drive is the average Joe going to have?

worse yet....

when you can live the lifestyle of the average Joe, and not even have to work

you have failure.

 

[milehighassassin]

Obama comes out this morning wanting to limit the amount that executives can be compensated. And this does not soley apply to companies that accepted bail out money he wants to apply it to all banks and wall street corps. It goes beyond socialism to absolute stupidity and shows the lack of knowledge that he seriously has about how a corporation is run.

I'm not positive, but my understanding is that it ONLY applies to companies that accepted Federal money.

Obama’s plan is to limit executive pay to $500,000 for companies getting taxpayer funds

 

[Weekday Warrior]

I'm not positive, but my understanding is that it ONLY applies to companies that accepted Federal money.

That is a terrible idea now I give it a second thought.

whats to keep em from folding?, then we (tax payers) take it in the shorts.

Maybe those companies getting bailout money need the top talent to dig em out eh? Not gonna get that with capped salaries.


Problem is, company execs are smarter then the govt. With salaries capped the company will plug along sub-par until some other talent takes over the market share...then we are stuck with a poorly performing company we kave to keep plugging money into to save our original bailout.

$500k is a pittance to what some of these folks make

 

[Mafesto]

The problem is that this mentality will be popular with 90% of the public who just don't understand the economic ladder & the reasons we all have different stations on that ladder.

That being said, I have been scratching my head as to why members of the boards of directors would EVER approve bonuses for anything short of success.

Furthermore, these incentives should be 100% stock based. Reason being it would be beneficial for execs to protect the company's future.
Right now the scam is to milk the company dry & run.
I am quite certain that in most cases, the Board of Directors are as grossly over-compensated as the execs and they are all in bed together.

 

[Weekday Warrior]

The problem is that this mentality will be popular with 90% of the public who just don't understand the economic ladder & the reasons we all have different stations on that ladder.

That being said, I have been scratching my head as to why members of the boards of directors would EVER approve bonuses for anything short of success.

Furthermore, these incentives should be 100% stock based. Reason being it would be beneficial for execs to protect the company's future.
Right now the scam is to milk the company dry & run.
I am quite certain that in most cases, the Board of Directors are as grossly over-compensated as the execs and they are all in bed together.

ya, and thats not all thats in bed either. Pull them covers back and we'd all be shocked how many folks are in there. Its a gang bang at our expense.

 

[revpilot]

Pretty funny AIG summary here:http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1

 

[bigfoot]

I'm not positive, but my understanding is that it ONLY applies to companies that accepted Federal money.

I read read it was more than bailed out companies.

http://www.iht.com/articles/2009/03/22/america/22regulate.php

 

[Ollie]

it is to include ALL financial companies.
Welcome to the Socialization of the Obamanation.

 

[ccoleman77]

yes ALL COMPANIES so if you are an ambitious American he is killing the American dream

 

[Wade]

The answer is to somehow force executives to be compensated more fairly. I'm sorry, but I've been watching these CEO idiots, and I'm convinced I could do a better job, in 95% of the cases. Most accomplished their goals, through unethical means anyways. The president and CEO of one company is on the board of several other companies, and the president and CEO of those companies is on his board of directors. If he gives them a raise, he'll get a raise in return. That, IMO, is what most CEO's spend all of their time doing, scratching each other's backs.

The answer is not salary caps, the answer is making boards of directors, and CEO's truely responsive to the needs of the investors. Remove the cross pollination, and return control to the investors. If he wants to remove something, make zero dollar stock compensation illegal. Salary caps is communism, plain and simple. Next his godliness will start talking about price caps on basic goods, and state ownership of all production.

And, what exactly is Obama gonna do, when the head of GE, and the entire executive staff, moves to Dubia? Does he think he has the power to tax people that don't reside in his country. There will be a mass exodus of corporate headquarters, that's what will happen.

 

[Mooseknuckle]

Thought this was an interesting take.

http://network.nationalpost.com/np/blogs/fpcomment/archive/2009/03/19/terence-corcoran-is-this-the-end-of-america.aspx

Mafy is right on; I'll even go farther to say that 90 percent of folks not only don't and or can't understand economics, but have really no clue what they themselves want. It's sad that we as a society seem to be more concerned with making sure those around us can't have what we don't - instead of endeavoring to put ourselves in a position to enjoy a similar success.

 

[highmtn]

Okay if he's going to do this wouldn't it only be fair to include hollywood actors and directors? Why pay them millions for movies that flop? Let's limit Orca Winfrey to 500k a year and see where his support goes. Then we could include Atheletes when teams are losing money.

 

[Disco Dan Richter]

Any company that accepts tax bailouts should be pround enough not to steal from the bailout money. Taxpayer money is not a reward for failure, it is a way to keep your corrupt crooked CEO's employed, and that is all. The money has not, nor will not be returned back, at leaset have the testicular fortitude to not accept an un-earned bonus.

I know, good luck with that.

My idea, not a socialist............but...........if you take tax money for any reason, you lose your right to any claims. NO bonuses, smaller salaries, no perks, no golf outings, no spa treatments, no private jets etc... if you take tax money you are at the sole mercy of the taxpayers, and I have yet to see one, NOT ONE!, that said keep the money, you earned it.

 

[Wade]

I got a better idea, don't let companies get too big to fail, in the first place. Then let them die if the CEO runs it into the ground.

 

[rkymtnrider]

capping salaries isnt the right way.but i would like to see a percentage of ceos raises in relation to the bottom employees that truly make the company. employees get a .25 cent raise, a cut in there health bennies, an increase in plan cost and upper mngmt are taking millions in bonuses.that just aint right.

 

[Puff_N_AK]

I got a better idea, don't let companies get too big to fail, in the first place. Then let them die if the CEO runs it into the ground.

That is exactly what they should have let happen to AIG, GM, Dodge and the rest of them. We live in a country that was based on Capitalism. Ya know only the strong survive.

Where are the raised taxes on the entertainment industry? How come his Highness hasn't turned to them for some extra cash? I am talking about Pro sports and the music and movie industry. NFL players signe 40-100 million dollar contracts, and actors are paid million plus movie salaries.

To finish, i will give his highness a little credit. An adviser must have slapped him up side the head, because he has decided to lower corp taxes. That would have been great if he raised them like he originally planned. There would have been a mass exodus of Corps and jobs going to more friendly enviornments.