| World of KJ https://www.worldofkj.com/forum/ |
|
| Obama to cap CEO pay for bailed out banks https://www.worldofkj.com/forum/viewtopic.php?f=48&t=48967 |
Page 1 of 1 |
| Author: | Beeblebrox [ Wed Feb 04, 2009 3:58 am ] |
| Post subject: | Obama to cap CEO pay for bailed out banks |
http://www.nytimes.com/2009/02/04/busin ... ss&emc=rss WASHINGTON  The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan. Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends. President Obama and Treasury Secretary Timothy F. Geithner plan to announce the executive compensation plan on Wednesday morning at the White House. The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars. |
|
| Author: | Alex Y. [ Wed Feb 04, 2009 5:37 am ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
great move |
|
| Author: | Grill [ Wed Feb 04, 2009 1:06 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Rorschach wrote: It's not a "bad" move, but it's not going to stop them from getting massive bonuses. Per the article > Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends. |
|
| Author: | Box [ Wed Feb 04, 2009 1:18 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Rorschach wrote: Hmm...well....its a good move then The arguement that the high-rate executives will leave because they have more incentive to go somewhere else now is legit. But...the economy is probably better off with executives who aren't greedy and selfish, even if they are not as knowledgeable. Not as knowledgeable? There still are people as talented if not more so who will take on those jobs for motives other than money. Here's the deal: If those execs don't want to stay, there's the door, go. Nobody is going to take them in. Who wants executives whose resumes include driving their respective companies into the ground? |
|
| Author: | Groucho [ Wed Feb 04, 2009 1:32 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Rorschach wrote: Hmm...well....its a good move then The arguement that the high-rate executives will leave because they have more incentive to go somewhere else now is legit. But...the economy is probably better off with executives who aren't greedy and selfish, even if they are not as knowledgeable. It only applies to those businesses that accept government money. If they don't accept the money they can pay whatever they want. |
|
| Author: | Box [ Wed Feb 04, 2009 1:59 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Also, it's not retroactive. |
|
| Author: | Beeblebrox [ Wed Feb 04, 2009 2:16 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Box wrote: f those execs don't want to stay, there's the door, go. Nobody is going to take them in. Who wants executives whose resumes include driving their respective companies into the ground? Exactly. These companies are saying that they won't be able to keep their brain power at the top with these restrictions. These would be the same brains that drove these companies into the ground so deep that they needed hundreds of billions of dollars to bail them out. Let them go. And I hope they never get another job that doesn't require them asking if you want fries with that. |
|
| Author: | Jim Halpert [ Wed Feb 04, 2009 2:20 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
I'm fine with this. If you're accepting govt. money there should be a cap. |
|
| Author: | FILMO [ Wed Feb 04, 2009 3:13 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Good move. Germans do that as well...... though..... It doesnt stop companies not involved in a rescue program from giving those huge salaries. So you can still press the shit out of a company until it needs money from the staate. |
|
| Author: | Box [ Wed Feb 04, 2009 4:20 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
FILMO wrote: It doesnt stop companies not involved in a rescue program from giving those huge salaries. Nor should it. The cap is in place because the company has entered into a special relationship with tax payers and the government. |
|
| Author: | Grill [ Wed Feb 04, 2009 4:22 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Box wrote: Also, it's not retroactive. Hope it applies to any future money paid out as not sure if all past companies got their money. |
|
| Author: | Groucho [ Fri Feb 06, 2009 12:55 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Well, finally -- the GOP has a cause they can fight for! You hvae to protect those poor multi-millionaires and their bonuses! http://www.huffingtonpost.com/2009/02/0 ... 64544.html Seriously, is this a winning strategy? If they're trying to appeal to the average voter, how in the world will this help? |
|
| Author: | Beeblebrox [ Fri Feb 06, 2009 3:56 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Groucho wrote: Well, finally -- the GOP has a cause they can fight for! You hvae to protect those poor multi-millionaires and their bonuses! They are the party of the rich, the white, and the Christian. Period. |
|
| Author: | Groucho [ Fri Feb 06, 2009 6:38 pm ] |
| Post subject: | Re: Obama to cap CEO pay for bailed out banks |
Beeblebrox wrote: Groucho wrote: Well, finally -- the GOP has a cause they can fight for! You hvae to protect those poor multi-millionaires and their bonuses! They are the party of the rich, the white, and the Christian. Period. Yes, and stupidly, they just keep on supporting these people and alienating everyone else. Maybe I'm just too cynical, but sometimes you need to do what is going to get you the votes so long as it doesn't violate really deep rooted moral principles. For instance, I would love to get rid of "In God We Trust" from our coins and remove all references to religion from our laws. I think it's the right thing to do and consistent with the principles of the founding of our country. But if I were a politician, that would be the last thing I would be fighting for, because I know how unpopular that would be, and there are more important issues to be fighting for. Why waste my time fighting for something that will only lose me votes in the long run, and thus keep me from doing good in other important areas? The GOP may, in its heart, feel just as strongly about this pay thing, but politically, is this the right fight to take on right now? Aren't there more important things to fight over that can even gain you support where you need it? Man! They haven't learned a thing from the beating they got in the last two elections, have they? |
|
| Page 1 of 1 | All times are UTC - 5 hours [ DST ] |
| Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group http://www.phpbb.com/ |
|