America is losing the very thing that makes it great. Opportunity.
Am I still living in America? It seems that everyone believes that the government must "do something" about executive pay. I have a suggestion, let's do nothing at all!…
"A sinister cabal of superior writers."
Article comments
176 - Zedd
Lumpy,
What your CEO makes matters if there is a possibility that you and a number of your top performing colleagues will loose their jobs because he has made poor decisions. If he continues to draw in millions a year when your management level salary would not hurt the company all that much if you were kept on, it would matter.
177 - Maurice
Executive pay is a favorite punching bag for many. My CEO went unpaid for 1.5 years. It didn't help. We are still moving all our manufacturing overseas.
Would it help the entertainment industry if we capped their salaries?
How about sports figures? In particular it is annoying that college football coaches make more money than college presidents.
178 - Zedd
Maurice,
Your CEO did the honorable thing despite the end result. That makes a difference in society in general. We all have to play a role. From parents saying "no you can't have it" to their kids, to CEOs foregoing the bonus when they have under performed.
179 - bliffle
I get the distinct impression that Dave and Cannon are net savers, not debtors, which makes them the rarest of rare breeds in American civil life.
Yes, inflation is bad for net savers, such as Dave/Cannon presumably are.
But for MOST US citizens, who are net debtors, inflation is a Good Thing. And they know it! So does everyone else. Even Dave/Cannon know that inflation is the best cure for MOST people, they just don't like it for themselves.
180 - bliffle
Dave says: "...rules which are designed to limit the excesses of the very small number of top executives often end up crippling smaller businesses and forcing them out of business."
This is possible, but I don't see where you have demonstrated it, or fleshed out the argument.
181 - Cobra
The athlete example is not a good one. Athletes who are sponsored and perform for the U.S. Government, i.e. Olympians, don't get outlandish taxpayer funded compensation.
The actor example is also not a good one. Actors and actresses who perform in productions sponsored by grants from the National Endowment of the Arts get nowhere NEAR the compensation that a Hollywood mega-star would receive. It's not the nature of that business. The same applies to actors who perform in films for the US Government.
Bottom line, if you want the AMERICAN PEOPLE'S MONEY to bail your business out, you'd better recognize that the American People have a right to dictate how much of THEIR money you can pocket for yourself.
--Cobra
182 - Clavos
Bottom line, if you want the AMERICAN PEOPLE'S MONEY to bail your business out, you'd better recognize that the American People have a right to dictate how much of THEIR money you can pocket for yourself.
Good point. CEOs should therefore refuse the American people's generous offer and turn to other countries for loans.
183 - bliffle
The article notes:
"Carly Fiorina wrote a great article on CNN today saying that caps aren't needed " transparency is."
Fiorina is a poor example to quote since she is just a pirate, a corporate climber, who was vigorously fired from HP. She knows how to finagle to get the job, but she doesn't know how to do it. Sort of a white Condi Rice.