Our unbiased researcher friends at the Candian Centre for Policy Alternatives (alternatives to what exactly?) released a report this week that says, in essence, that the average CEO (average of the top 100 companies...that's not skewing the average at all is it?) earns the same amount by 10am on January 2nd as the average Canadain makes all year. Their (and the MSM) spin on it was "Those greedy bastards!"
I on the other hand took it an entirely different way..."Holy Crap, I want to do that!" Seems those on the left can't undertand the concept of ambition, and bettering ones lot in life, only envy for those who do (and have)...count me as motivated to match the achievement, not envious of those who have already done so!
Wednesday, January 03, 2007
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I saw the piece as well. Pretty stupid I loved the classic streeter interviews with retards who can barely tie their own shoes. Running a company is not exactly the easiest thing in the world to do and CEOs deserve every penny.
"left can't undertand the concept of ambition, and bettering ones lot in life, only envy for those who do (and have)" Off the backs of working people.
"Seems those on the left can't undertand the concept of ambition, and bettering ones lot in life, only envy for those who do (and have)...count me as motivated to match the achievement, not envious of those who have already done so!"
That’s certainly what we’ve been taught, isn’t it.
One of the big objections is the amount they get paid out when fired.
Fiorina got 21 million for being fired, and this is not just one example of the corporate inside padding of accounts.
CEOs do not earn what they make, they just get away with it.
Often, packages for departing executives are negotiated at the time the executive is hired, and are a legal obligation at the time of departure.
The issue is not one governments should interfere in. I think they've met their burden with public companies in requiring disclosure.
The issue is between the shareholders and the boards of the companies. If boards are offering too much compensation, it is the right of the shareholders to boot their tails to the curb and bring in directors who will be reasonable.
When too many of the big stockholders, who have the most votes are in bed with the CEOs there is no way the little guy isnt going to get screwed. YES the government should get more involved.
Wow...
So, the little guy with 10 shares of HP gets hosed when the stock dips $1 by a whole $10.
The "big stockholder" with 1,000,000 shares takes a million dollar hit in the same scenario. Why would it be in the "big stockholder"'s interest to damage the company? They have, proportionally, a lot more at risk.
The fact that CEOs are given that much money shows there is a problem with the system.
No where else can some one get fired and make more than any 100 people will in their whole life.
It is a rigged system the "old boys network".
Do they deserve that much money" no way in hell, CONMAN.
"Sam Pizzigati, an Institute for Policy Studies associate fellow, says the gap between corporate and elected leaders’ pay is dangerous for the country.
Today’s soaring pay gap between business executives and elected leaders in government essentially makes corruption inevitable. With such huge windfalls at stake, business leaders have a powerful incentive to manipulate the political decisions that affect corporate earnings."
http://blog.aflcio.org/2007/08/29/ceo-compensation-a-years-pay-for-a-days-work/
"Lyndon LaRouche has called this "shareholder corruption" and said on Aug. 11 that stockholders bear equal blame with the executives. The morally corrupt shareholders are only concerned about their investment: They will permit and encourage executives to destroy their companies, "to maximize return" in the short term; and then, when the company is ruined, demand that the U.S. government bail them out.
What is true for the Big Three automakers, applies equally to the airline industry, which is trying to throw off its pension and health care costs, and to most sections of U.S. manufacturing and industry"
http://www.larouchepub.com/other/2005/3234auto_execs.html
LaRouche is a nut case most of the time, but here I think he gets it right: CEOs drive the company into the ground, starting cutting benefits for workers, gets the Feds to bail them out and soon the money starts rolling in again.
The CEOs win the stockholders and the workers loose.
It still remains that reasonableness has to prevail. Being a CEO does not equal being and entrepreneur where you own the game.
Having been both, I strongly urge CEOs of public companies to demonstrate "common sense"
http://pacificgatepost.blogspot.com/2008/03/executive-compensation-common-sense.html
if you don't, abuse sets in, then the system will crack.
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