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Retain brainpower?
Your answer only shows your ignorance, demi50. No politician was involved in that decision. The responsible parties were "Moody", and "Savings and Poor"; the two private corporations that rate securities.
Retain brainpower?
jdlech,
The answer to the question in your last sentence: Barney Frank and Chris Dodd
Retain brainpower?
The idea that pay limits would keep the best minds from entering a company is just absurd. What else would they do; manage a McDonalds? I would much rather have an executive who did what he loved than one who simply does it for the money. The latter would sell the company out in a heartbeat and can never be trusted.
It would have been better had a lot of these overpaid executives had decided to manage fast food resturants instead. There, at least, they would not have run our country (indeed, the whole world) into to the ground.
Who's bright idea was it to stamp sub prime loans as equally safe as US. Govt. bonds anyway?
shareholder value and better dividends
I'd rather see better dividends and better performing stock, than watching CEO's pay themselves millions as the company gets run into the ground. These guy ain't worth the money they are paying themselves. The corporate mission statements for most companies goes something like "Too maximize shareholder value".
not "maximize" CEO pay, and run the share price into the ground, get a (golden parachute)severance package worth millions, then need a government bailout.
Retain brainpower?
Seems like we can all agree that Mullaly is doing a great job at Ford. GM and Chrysler will never be able to attract a Mullaly. They will be stuck with the folks that created alot of the mess they are currently in. I've heard many a union member say that when you cut their compensation, it's a race to the bottom. Why wouldn't that same logic apply here. I understand the emotion of the issue. But weren't these companies bailed out so that they could eventually excel?
Tough to do with both hands tied behind your back.
Retain brainpower?
The same "brainpower" that ran them in to the ground? AIG, Delphi,GM,etc. should have been allowed to just go away along with with thier management teams.
A Commitment to aide others????
Hide the sharp objects from this guy.
Anyway, enough with the old and tired "free market" stuff. The market has not been free since at least the Sherman Anti-Trust Act from the early part of the last century. This was further eroded by child labor laws, occupational safety laws, and so forth. What we have is capitalism, which, when regulated properly, works reasonably well. The issue, of course, is which regulations are proper.
As for the supposed "brain drain," good riddance. Does anybody really think you cannot get competent help for $500,000 per year? Do we really want to stay in this unhealthy competition for the singularly unimpressive Bob Nardellis, Angelo Mozilos, and Richard Fulds of the world?
Really Nolan, it is time to stop speaking the party's dogma and do some original thinking.
Pay Restrictions
Your views that pay should be determined by the market would be dead on, unfortunately they haven't been for years in this country. Over paid executives serve on each others boards and approve each others ridiculous pay packages. Not really free market.
The simplest way to deal with this that will affect all equally is to add two new tax brackets. 40% for incomes over $5 million, and 60% for all incomes over $20 million. There are very few people who make $20 million who really earned it. Bankers who went to the same fraternity who get together and gamble with others money or move money around and skim off the top don't' create anything, They are parasites. Aka Goldmanites.
pay controls for TARP exec's
Normally I agree with alot Mr. Finley says but on this one he is way off the mark. I'd start with AIG (& any other financial institution that got Tarp funding)as "losing the best brains". These Einsteins are the ones that got us into this mess in the 1st place & they made a lot of money personally doing so, while the nation suffers. If these crooks are the best & brightest we got, we all better start learning Mandirian. Personal greed drove them over what was best in the LONG term for both their companies & their country. That is not being the best in class, heck a crack head can do that.
Salary Control Boosts Competitors
Thanks for reporting this...my money and I will stay as far away from that new company (C.V. Starr and Company) as possible. If they can bring down AIG then they can bring down a smaller company.
A Commitment to aide others????
Oh Nolan, ACHE for PAY, is the word for this President!!!How can the giant corporations let, no ALLOW this wannabe CEO OF THE BUSINESS WORLD PRESIDENT OBAMA, pick apart the leaders, then these leaders, leave the companies only to go to other companies and with the knowledge they have and take, take , take . YOU CAN SEE HOLYBAMA HAS NO CLUE WHAT THE FUTURE HOLDS WHEN HE GOES IN AND SCREWS WITH BIG BUSINESS LIKE HE HAS DONE!!!! These corporate giants do everything they can do to keep people way down the food chain, because shared knowledge and corporate secrets are to much power! HOLYBAMA HAS NO CLUE OF BUSINESS. He has trouble just keeping his big mouth shut on a weekly scale, doesn't his handlers see this? Does he have someone who tells him, OK THAT'S ABOUT ENOUGH, SHUT IT, AND NO MORE ABOUT THIS SUBJECT!!! YOU KNOW NOLAN , IN DETROIT AND MICHIGAN WE CALL THEM WIVES!!!
If big big, gigantic business can't stop this guy , its time for BIG BUY OUT TIME IN THIS COUNTRY TO STOP HIM. WALL STREET CAN SHUT THIS PRESIDENT DOWN , FAST !! . DON'T TELL ME WALL STREET DIDN'T KNOW ALL OF THE BAD NEWS THE LAST TIME OUR STOCKS WENT INTO THE TOILET, RIGHT? SO DON'T TELL ME THEY CAN'T DO IT AGAIN. THESE PEOPLE ARE USED TO BUYING OFF PRESIDENTS, NOT HAVING ONE TELLING THEM THEY CAN ONLY MAKE $200,000, MY GOODNESS THEY SPEND MORE THAN THAT AT THE BOYS CLUB IN A YEAR!!! Who came up with a sissy amount of money like that anyways? That's a huge amount of money for a guy on disability like me, but for a guy who lives next door to Martha Stewart, ME NO THINK SO!!! SO IN CLOSING, Nolan, HOLYBAMA IS AGAING BLOING SMOKE UP WALL STREET AND BIG BUSINESS'S ARSE AGAIN, AND AS USUAL, HE HAS NO IDEA WHAT HE IS TALKING ABOUT!! AND YOU HAVE TO BECAREFULL WHEN YOU ARE TALKING IN THAT DIRECTION OF THE ANATOMY , BECAUSE IT CAN BLOW BACK WASH ON YOU!!!
DAN1958~HAZEL PARK, MI. 48030
HERE FOR THE LAUGHS UNTIL IT HURTS!!!
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