My thoughts on limiting executive pay

[V-Man]

So, I was listening to Obama this morning. His comment was that taxpayers are not happy about executive compensation and need to be assured that companies receiving bail out money are not wasting it.

In my eyes, this is one interesting example of the pot calling the kettle black. Where is our assurance that the govornment isn't wasting our money! They've been doing it for years and plan on accelerating the wasteful spending of our hard earned money.

Regarding this initiative, I don't support the bail outs in the first place, hence I don't support limited executive compensation. If they pay an exec too much, and the company fails, then that is the fault of the exutive team and the board of directors. Maybe there should be laws about the relationships of individuals on boards who are basically doing each other favors and robbing the companies they run.

 

[Fosgate]

My thoughts exactly. If an exec is hired under contract to do certain responsibilities and achieve certain goals they should get paid to achieve those goals. If the company is failing and takes bailout money the govt is giving the BOD and shareholders the OK to breach a contract for compensation from the execs all the way down to the janitors. I also don't agree with the govt scolding CitiGroup for attempting to take delivery of a company jet it ordered 4yrs ago for $40million. I mean, that just sends a message it's ok to break a contract and let the manufacturer eat it. Why not instead either seize the jet and sell it or put pressure on them to turn around and sell it. How much are we as taxpayers paying for them to walk away vs. taking delivery and selling it?

 

[theultrarider]

So as the executive of this country is he going to lead by example and cut his pay??? Most ceo's earn the pay they recieve. If you want to talk about pay scales that are set in fantansy land then look to Hollywood and pro sports! Gimme a break, but how do you earn those kind of paychecks? It is our fault I guess by continueing to watch the movies they make and watching the GAMES that they play.

 

[Ice Cap]

If you really want to see some changes just take away the full salary pensions and the way above average medical benefits that our law makers get when they retire.
Force them on medicare and social security like many others and then see what happens.

 

[spring snow hero]

hypocritical or not, I am surprised to hear him say something that I can agree with. apparently he still has to pull his head out of his azz for air.

 

[woodzy]

hypocritical or not, I am surprised to hear him say something that I can agree with. apparently he still has to pull his head out of his azz for air.

When the rest of his party find out what he's doing, they are going to buy him a snorkel.

 

[winter brew]

Executive salaries and bonuses, corporate jets etc...."looks" bad, but is really just a drop in the bucket of what big businesss wastes.

 

[TIM]

what are you using as the defintion of big business?

sales over $5 million or sales over $50 million.
companies that employ 20 people or companies that employ 200 people?

just curious.

 

[winter brew]

BIG....as in those getting bailout $$. If bonuses were detrimental to profits, the board of directors would not likely approve them. There are bigger issues, this is just the govt's way of "appearing" to be doing something to protect our tax money they are giving away.

 

[V-Man]

There are bigger issues, this is just the govt's way of "appearing" to be doing something to protect our tax money they are giving away.

The hypocrisy is unbelievable. No one is more inefficient and wasteful than our very own government.

One of many examples: We have the most expensive educational system in the world, yet it is producing nearly the worst results.

 

[buck50]

The hypocrisy is unbelievable. No one is more inefficient and wasteful than our very own government.

One of many examples: We have the most expensive educational system in the world, yet it is producing nearly the worst results.

thailand has very close to 100% literacy, mostly taught for FREE by the budhist monks!!!!!!!!!!!!!!!!!!

 

[winter brew]

thailand has very close to 100% literacy, mostly taught for FREE by the budhist monks!!!!!!!!!!!!!!!!!!

There ya go.....if Obama was really thinking he would import all the Budhist Monks he could round up and put them in charge of the banks and auto mfr's. While they are there they could teach the union guys to read and write......not a blow to union guys, I am one.....but it's amazing I work with guys who cant read or spell yet demand huge wages for their "skills". Sorry, got on a tangent there-