Joined: Mar 17, 2005
Location: Staten Island
|Posted: Thu Feb 05, 2009 9:09 pm Post subject: Limit Those Salaries
From Thu Feb 05, 2009 3:00 am to Tue Feb 10, 2009 2:59 am (included)
|As you know President Obama wants the limit the salaries of executives of companies that have received bailout money.
Good idea in principal but you must to realize who you are dealing with.
These are the same guys who have already made millions while the companies they were managing lost billions.
Donít you think that they would figure out ways to get around any restrictions?
They would just find other forms of compensation or bonuses or deferred payments to get around any rule.
Thatís what they do.
The way I look at it since the government is funding these companies with taxpayer money that makes us shareholders in these companies and our opinions should count.
Well here are mine.
Limit the salaries. If they donít like it there are thousands that would gladly take the jobs and itís not like they have been doing such a great job anyway.
No deferred payments or additional compensation packages allowed.
Bonuses should only be allowed based on the company turning a profit.
Any golden parachutes for executives who leave should only be in stock options exercisable five years after departure.
And while we are at it since we are also shareholders in our government why would we want to allow yet another pay increase for members of Congress.
Year after year as the budget deficit grew and grew one thing remained constant. Congress voted themselves a raise every year.
And this year is no different as they voted to increase their salaries by $4,700 to $169,300. (Without perks)
Not a very good example to set considering they have pretty much run the country the same way these execs ran their companies.
So now they reward themselves while the economy is in a tailspin.