Obama caps executive pay tied to bailout money - DFWstangs Forums
 
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post #1 of 17 (permalink) Old 02-04-2009, 01:07 PM Thread Starter
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Obama caps executive pay tied to bailout money

at $500K. Thoughts? With these huge exec bonuses that have been dished out lately I think this is past due.

http://news.yahoo.com/s/ap/20090204/..._executive_pay
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post #2 of 17 (permalink) Old 02-04-2009, 01:14 PM
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like they care... Their salary was cut down big time but they will still get huge ass bonuses

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post #3 of 17 (permalink) Old 02-04-2009, 01:19 PM
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Correct, they will just throw out HUGE bonuses to there executives!!
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post #4 of 17 (permalink) Old 02-04-2009, 01:22 PM Thread Starter
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Wouldn't that $500K be for total income? I would think that bonuses would be included in that, but the article doesn't say specifically.
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post #5 of 17 (permalink) Old 02-04-2009, 01:28 PM
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at $500K. Thoughts? With these huge exec bonuses that have been dished out lately I think this is past due.

http://news.yahoo.com/s/ap/20090204/..._executive_pay
If you're the CEO at Citibank, and the only reason Citi is still in business is the $50 billion or more the government has given them....then yes, the government should be able to set your pay.

CEO stimulus= getting your company profitable again, so the board sets your pay, not the government.
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post #6 of 17 (permalink) Old 02-04-2009, 01:30 PM
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socialism at its finest!!

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post #7 of 17 (permalink) Old 02-04-2009, 01:58 PM
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If you're the CEO at Citibank, and the only reason Citi is still in business is the $50 billion or more the government has given them....then yes, the government should be able to set your pay.

.
I think it's interesting how they are setting salary limits on corporate exec's who benefited from the bail out. The reason I say that is because it's a logical and fair step considering the circumstances. However, that same logic and money sense conveniently falls through the cracks when it comes to putting strings on welfare and it's beneficiaries. Things such as built in incentives to get people off welfare and time limits. And audit programs on recipients to identify frivolous and inappropriate spending of state funds.

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post #8 of 17 (permalink) Old 02-04-2009, 02:52 PM
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I think it's interesting how they are setting salary limits on corporate exec's who benefited from the bail out. The reason I say that is because it's a logical and fair step considering the circumstances. However, that same logic and money sense conveniently falls through the cracks when it comes to putting strings on welfare and it's beneficiaries. Things such as built in incentives to get people off welfare and time limits. And audit programs on recipients to identify frivolous and inappropriate spending of state funds.
Since the government sets the conditions of eligiblity and the benefit amount of welfare what's your point?

Welfare, per se, was better controlled after legislation was passed during Clinton's term.

The way I see it is, if your comapny is still alive due to government bailouts....then until you pay the goverment back ....they own you, or least exert some control. It's one small part of accountability.

Wall Street, which in essence "owns" public companies certainly exerts strong imfluence on decisions made in board rooms.

I was laid off despite my employers posting an 8% GAIN in the 4th quarter. Obvioulsy a move to sooth Wall Street.
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post #9 of 17 (permalink) Old 02-04-2009, 03:45 PM
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The way I see it is, if your comapny is still alive due to government bailouts....then until you pay the goverment back ....they own you, or least exert some control. It's one small part of accountability.

Wall Street, which in essence "owns" public companies certainly exerts strong imfluence on decisions made in board rooms.

.

If the money was a loan (as it should have been), then yes I think the government should be able to step in and dictate salaries. Since it was just given to them, what's to keep the feds from wanting to extend their control over the financial institutions?

I think Wall Street and the American investment mentality is to blame for a lot of our current situation. Investors wanting to drop stock the first quarter a company doesn't meet expectations.... Business making short term decisions that are good for the investor but detrimental to the long term health of the company.
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post #10 of 17 (permalink) Old 02-04-2009, 03:49 PM
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If the money was a loan (as it should have been), then yes I think the government should be able to step in and dictate salaries. Since it was just given to them, what's to keep the feds from wanting to extend their control over the financial institutions?

I think Wall Street and the American investment mentality is to blame for a lot of our current situation. Investors wanting to drop stock the first quarter a company doesn't meet expectations.... Business making short term decisions that are good for the investor but detrimental to the long term health of the company.
As I understood it, the government got shares of stock in these companies in exchange for the cash.
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post #11 of 17 (permalink) Old 02-04-2009, 09:06 PM
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First off, they should not get bailed out. And why should government have any power to tell
a business who much to pay? This country is going to pot. Socialism, won't work.

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post #12 of 17 (permalink) Old 02-04-2009, 09:14 PM
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First off, they should not get bailed out. And why should government have any power to tell
a business who much to pay? This country is going to pot. Socialism, won't work.

CN
While I agree they shouldn't have been bailed out, if they want to take the money, Big Brother has the right to tell them what rules to live by.

I guess you think the laws that apply when someone file's bankruptcy are socialist also?

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post #13 of 17 (permalink) Old 02-05-2009, 07:19 AM
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Version i heard was any bonus would be in company stocks & could not be sold until after the money has been paid back to the gov't. Considering no one seems to know where the money went in the first place, this could prove to be interesting.

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post #14 of 17 (permalink) Old 02-05-2009, 09:11 AM
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First off, they should not get bailed out. And why should government have any power to tell
a business who much to pay? This country is going to pot. Socialism, won't work.

CN
You know what's funny, in the 1920's people were saying Capitalism will never work.

Pure Socialism doesn't work. Pure Capitalism doesn't work.

Big Businesses have been controlling the government to the point that they were allowed to run the ship a ground. And like a Captain abandoning ship first, they are filling their pockets with millions/billions while laughing their asses off. How has big business controlled the government??? Read about campaign contributions made by these very executives that are about to get capped.

Everything is about checks and balances. If we let Big Business run wild, we come to where we are now. Businesses paying "top dollar" for "top executive talent", but in order to do so businesses have to lay off workers. When workers have no jobs, they don't buy the products/services that the top executive talents are getting paid top dollar to sell/provide.

So whatís the point of and why are businesses allowed to pay "top dollar" for executives when doing so is actually bringing the companies down?

How is it ok that executive pay continues to rise while both a.) workers are being laid off and b.) product/services quality drops.

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post #15 of 17 (permalink) Old 02-05-2009, 09:44 AM
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How is it ok that executive pay continues to rise while both a.) workers are being laid off and b.) product/services quality drops.

Then it's time to fire the CEO.

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post #16 of 17 (permalink) Old 02-05-2009, 10:19 AM
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Then it's time to fire the CEO.
Yes, but by the CEO's contract, that will cost the company $100 million!
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post #17 of 17 (permalink) Old 02-05-2009, 10:23 AM
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I don't like it. I didn't and don't like the idea of a bailout and I don't like the government intrusion into the private sector.

It won't stop at executive pay. After awhile, the gov't will look to set limits on pay across the board. Auto mechanic? You top out at $45k. Doctor? You top out at $60k. and so on and so on.

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