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Thread: Without huge salaries, financial leaders won't try hard?

  1. #16
    Elite Member Penny Lane's Avatar
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    A salary cap isn't an altogether evil idea.. questionable bonuses for the corporate fat cats often to unnoticed until after the fact.. and even then, they find some way to justify them. They're out of touch with the reality of living on a modest salary and maybe the cap is what they need to realize that. If that means they won't try hard then fuck them.. the money in the bank obviously means more than the quality of work they put out every day. Ultimately they're living a five star lifestyle at the tax payers' expense and it's fucking ridiculous.. it's like the financial crisis was just a little stumble to them, long-lasting effects of little to no consequence.

  2. #17
    Elite Member Grimmlok's Avatar
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    Quote Originally Posted by southernbelle View Post
    I just feel it's very dangerous when the government can step in and start capping your salary. It totally strips any motivation to do better and it is infuriating. As is the anti-CEO attitude that Obama seems to be encouraging.
    I feel it's dangerous for banks to come, hat in hand, to the taxpayer and ask (not very nicely) that the taxpayer continue funding their ridiculous salaries while they wipe out people's investments through stupidity and greed.

    They want taxcpayer money, but dont want to sacrifice anything for it? Get fucking real.

    My dad is a CEO and so I think a lot of the comments that are generally made about CEOs are grossly inaccurate and ignorant. They work their asses off. They provide jobs. They regulate publicly traded companies and their corporations sometimes support entire towns. They put their asses on the line for their company and for their employees daily. It's not an easy job, and it's frankly not comparable to an employee at the Video Hut who is blabbing about "making the extra effort" by doing a Google search for a movie. Are you kidding me?????
    Yes, your daddy does many things I'm sure. Daddy daddy daddy. Self sufficiency at its finest.

    *sighs*

    Companies that fail and that need to be propped up by a handout have no position to be demanding their EXHORBITANT salaries and bonuses and golden parachutes continue.. until they're paying for those things themselves with THEIR OWN HONESTLY EARNED PROFITS.

    Going on welfare means you owe.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  3. #18
    Elite Member Penny Lane's Avatar
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    Sometimes I think it would take a catastrophe on par with the great depression for some of these asshats to realize how lucky they are.

  4. #19
    Friend of Gossip Rocks! buttmunch's Avatar
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    Well, when they have to go hat in hand to the government to ask for money I think it's a pretty big disaster but they're not getting it. Anyone else remember the Big Three CEO's who went to beg Congress for cash and arrived, individually, in their private jets? It's audacity on a scale I can barely comprehend.
    'Those who sacrifice liberty for security deserve neither.' Ben Franklin

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  5. #20
    Gold Member powerorchid's Avatar
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    Quote Originally Posted by southernbelle View Post
    I believe in being self sufficient. I don't believe in punishing the people who ARE succeeding (and cutting their income IS punishing them, whether you call it that or not), to reward those who aren't. Expecting people who are making money to take paycuts just because some people are struggling is ridiculous. Despite some people's wishes, this isn't a socialist country.
    .
    sounds like some-one has been watching too much fox news....

    If you believe in being the self sufficient these company's should just be left to go bust. They were not successful, they just screwed up the whole worlds economy. They are failures. Then they took a truck load of tax payers money and continued to waste it. You must be a real hardcore "republican religious freak" to not even understand that.

    maybe capitalism has failed due to uncontrollable greed? what now?

  6. #21
    Elite Member southernbelle's Avatar
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    Quote Originally Posted by Grimmlok View Post
    I feel it's dangerous for banks to come, hat in hand, to the taxpayer and ask (not very nicely) that the taxpayer continue funding their ridiculous salaries while they wipe out people's investments through stupidity and greed.

    They want taxcpayer money, but dont want to sacrifice anything for it? Get fucking real.



    Yes, your daddy does many things I'm sure. Daddy daddy daddy. Self sufficiency at its finest.
    *sighs*

    Companies that fail and that need to be propped up by a handout have no position to be demanding their EXHORBITANT salaries and bonuses and golden parachutes continue.. until they're paying for those things themselves with THEIR OWN HONESTLY EARNED PROFITS.

    Going on welfare means you owe.
    I am self sufficient. I work and support myself. However, having grown up in that environment, I do know first hand about the challenges, commitments, and responsibilities that CEOs face, and that they're not all greedy, selfish crooks who do nothing at their jobs and then "demand" big salaries. I do think that CEOs get a bad reputation because of a lot of misconceptions and stereotypes which I feel Obama is promoting, and that is very disappointing to me.

  7. #22
    Elite Member Grimmlok's Avatar
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    No, i'm pretty sure they created that by themselves by leading their respective financial corporations off a cliff and then demanding welfare.

    they didn't need any help.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  8. #23
    Elite Member DeChayz's Avatar
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    No, CEOs get a bad reputation because of the oblivious schmucks who spend over a million dollars redecorating their goddam office while thousands of the company's employees are let go because the company has been run into the ground by aforementioned oblivious schmucks.

  9. #24
    Elite Member louiswinthorpe111's Avatar
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    I am all for earning as much as you possibly can.

    The salary caps are for executives who accepted bailout money. If the executives of these companies don't want salary caps, then give the bailout money back and let the company go bankrupt.

    So this begs the real question, what's in the best interest of the executive or the best interest of the company. Sounds like to me the executives are making sure THEY succeed and not the company that gives them a job. Any company that loses BILLIONS of dollars in a year should not be giving bonuses and lavish company parties. PERIOD.

  10. #25
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    Quote Originally Posted by southernbelle View Post
    I just feel it's very dangerous when the government can step in and start capping your salary. It totally strips any motivation to do better and it is infuriating. As is the anti-CEO attitude that Obama seems to be encouraging.
    Obama isn't trying to cap the salaries of all CEOs, just those that are in companies getting extraordinary help from the government. By definition, those companies getting special help from the government aren't doing so well. The CEOs of such companies should share some of the burden, not continue getting wealthy off the backs of taxpayers.

  11. #26
    Super Moderator Tati's Avatar
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    Expecting people who are making money to take paycuts just because some people are struggling is ridiculous.
    It is THESE BANKS who are struggling. THEY went to the government with their hands out - how does it make sense that they should be able to do that while still paying out bonuses in the millions?

    If people are losing their jobs, they can accept government assistance or take another job, even if it's not their ideal , until they get back on their feet. They can make changes to their daily routine and purchase habits to make sure that they are living within their means.
    THE BANKS accepted government assistance! THEY should now have to make changes and start living within their means, such that they can keep their own damn companies afloat without relying on government handouts. You sound like you're all for personal responsibility and accountability, except when it comes to the CEOs of corporations. Don't you see that they're basically on corporate welfare here? They should have to adjust and live accordingly, just as you stated individuals in the same situation should.

    I have no problem with rewarding people - CEOs or otherwise - according to their work, even if it means very handsomely - when they're doing well. But these companies have budgets, yes? And shareholders? This little thing called the bottom line? How can you justify them spending money they don't have and then asking the government to cover their bills? Where's the capitalism in that?

    You did notice that the proposed cap is only for those companies receiving government handouts, didn't you? That would be this part here:

    President Obama felt it necessary to propose that, from now on, senior executives of companies receiving "exceptional" bailout funds will have their cash compensation capped at $500,000.
    If you reveal your secrets to the wind you should not blame the wind for revealing them to the trees.

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  12. #27
    Elite Member Grimmlok's Avatar
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    I also love the dismissive "just because some people are struggling" line, said with the best gated community silver sooon voice.

    Here you go:

    2009 - Unemployment: 7.6%

    2001 - Percent of Population Living In Poverty: 12.7%

    2009 - Percent of Population Living In Poverty:17%

    2001 - Foreclosure Rates: .48%

    2009 - Foreclosure Rates:1.19%

    2001 - Americans Relying On Food Stamps: 17 million

    2009 - Americans Relying On Food Stamps: Over 30 million
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  13. #28
    Elite Member kingcap72's Avatar
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    Quote Originally Posted by southernbelle View Post
    Any sort of cap on salaries is ridiculous. It's not greedy to be outraged about being expected to do the same amount of work while taking an 80% pay cut and paying MORE taxes.

    I would quit my job before I'd go along with that. I'm sick of this society where we punish success and hate the successful. Why don't they tell the Video Hut workers that they're going to cap their salaries at 1/4th of what they're currently making and then see how much they "love" their jobs and feel that they should put forth the same effort "no matter what".
    That would be a good point, except that if these overpaid executives were doing their jobs they wouldn't have run their companies into the ground and have to beg the taxpayers to shore up their companies.

    And maybe the Dems wouldn't be demanding a cap on salaries if the executives didn't take taxpayer bailout cash and spend it on bonuses they didn't deserve, million dollar office renovations, and private planes.

  14. #29
    Elite Member Novice's Avatar
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    Quote Originally Posted by southernbelle View Post
    Any sort of cap on salaries is ridiculous. It's not greedy to be outraged about being expected to do the same amount of work while taking an 80% pay cut and paying MORE taxes.
    but that is what they expect their employees to do....

    Quote Originally Posted by southernbelle View Post
    I believe in being self sufficient. I don't believe in punishing the people who ARE succeeding (and cutting their income IS punishing them, whether you call it that or not), to reward those who aren't. Expecting people who are making money to take paycuts just because some people are struggling is ridiculous. Despite some people's wishes, this isn't a socialist country.
    Well, BINGO! That the crux isn't it.... they're not suceding which is why lots of Govts internationally have had to bail out the banks.
    Internationally? Yes, because the US economy drives any number of world economies. You fail, we fail.... The UK has just paid its now "state-owned" banks execs millions of pounds - because they failed while the savers are worried that they won't even get all their savings back - fair? I don't think so.

    As for being self-sufficient - are you telling me that you're starting work without outstanding student loans, a banger of a car, paying your own market rent, living off just your wages? Making ends meet each month in an entry level jobs? And not some "found" job in daddy's company? Maybe its your daddy that believes in you being self-sufficient? and you have no choice but to follow, since he holds the purse strings.
    Plus if that were the case, I think that you would have a little more sympathy with the poor shlep in Video World, or the flight attendents or waitresses that serve you; who are also not supported by a rich daddy.

    Quote Originally Posted by southernbelle View Post
    I just feel it's very dangerous when the government can step in and start capping your salary. It totally strips any motivation to do better and it is infuriating. As is the anti-CEO attitude that Obama seems to be encouraging.

    My dad is a CEO and so I think a lot of the comments that are generally made about CEOs are grossly inaccurate and ignorant. They work their asses off. They provide jobs. They regulate publicly traded companies and their corporations sometimes support entire towns. They put their asses on the line for their company and for their employees daily. It's not an easy job, and it's frankly not comparable to an employee at the Video Hut who is blabbing about "making the extra effort" by doing a Google search for a movie. Are you kidding me?????
    1 - You're not the only poster in here that has a CEO in the family, so don't think that you are the only one who understands the intricasies of business.
    2 - Yes, and due to some CEO actions whole towns will not be unemployed...
    3 - Any CEO has the chance to invest and save money like the employees making minimum wage don't have chance to. So when they loose their jobs, they have a security blanket that minimum wage people don't.

    Quote Originally Posted by buttmunch View Post
    Oh please. I know plenty of people in the financial sector and who are top execs and while they work hard and are supposed to take responsibility they aren't doing that, really. Again, I say if they want a handout they have to live by the terms, otherwise they can go it alone. And the bullshit argument that some are slinging about, saying the sector will no longer attract 'top people' should salaries and bonuses be capped is just that: bullshit. They aren't top people if a complete economic meltdown is the result. And let them go somewhere else...if they can get a job.

    I, for one, would like to see just one ONE person in a position of responsibility admit culpability for this situation. I'm not holding my breath. All we're hearing are dumb excuses and seeing business as usual. I have no problem with people being successful but running a company so far into the ground that it needs the government to bail it out is not success, it's complete and abject failure and should be labeled as such.

    Also remember that the gap between top and bottom salaries in large corporations has grown astronomically in the past decade or so, mainly because of huge bonuses and payoffs.
    I'd really like to hear that too... but I don't think that we will either.

    Quote Originally Posted by celeb_2006 View Post
    All good points. But in the end, these execs and industries were the ones asking the government for help. If our tax money, my tax money, is going to assist these banks and companies and execs (while they see fit to spend our money on their lavish parties and CEO bonuses), and as Grimm and others have pointed out failed miserably at their jobs, then I don't see why our President can't put a pay cap on their salaries. Our tax money is not free money.
    Great post.

    Quote Originally Posted by Grimmlok View Post
    I feel it's dangerous for banks to come, hat in hand, to the taxpayer and ask (not very nicely) that the taxpayer continue funding their ridiculous salaries while they wipe out people's investments through stupidity and greed.

    They want taxcpayer money, but dont want to sacrifice anything for it? Get fucking real.



    Yes, your daddy does many things I'm sure. Daddy daddy daddy. Self sufficiency at its finest.

    *sighs*

    Companies that fail and that need to be propped up by a handout have no position to be demanding their EXHORBITANT salaries and bonuses and golden parachutes continue.. until they're paying for those things themselves with THEIR OWN HONESTLY EARNED PROFITS.

    Going on welfare means you owe.
    yes!
    Quote Originally Posted by DeChayz View Post
    No, CEOs get a bad reputation because of the oblivious schmucks who spend over a million dollars redecorating their goddam office while thousands of the company's employees are let go because the company has been run into the ground by aforementioned oblivious schmucks.
    Again, a great post!

    Quote Originally Posted by Grimmlok View Post
    I also love the dismissive "just because some people are struggling" line, said with the best gated community silver sooon voice.

    Here you go:

    2009 - Unemployment: 7.6%

    2001 - Percent of Population Living In Poverty: 12.7%

    2009 - Percent of Population Living In Poverty:17%

    2001 - Foreclosure Rates: .48%

    2009 - Foreclosure Rates:1.19%

    2001 - Americans Relying On Food Stamps: 17 million

    2009 - Americans Relying On Food Stamps: Over 30 million
    That is a recepie for communism/socialism.... When there are too many poor, there will be repercussions.
    "I don't know what I am to them, maybe a penguin XD" - Tiny Pixie

  15. #30
    Gold Member mamaste's Avatar
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    I have no problem rewarding people who are sucessful at their jobs. However, these people weren't successful. Everybody gets punished if you don't do your job. You screw up, you get fired. Why should they be any different?

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