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

  1. #61
    Elite Member Grimmlok's Avatar
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    Yeah, i'd be a little pissed if a friend asked me for some money to cover their rent.. and then they went out and blew it on coke and hookers.

    first, I'd want pictures. Then i'd want my money back.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  2. #62
    Silver Member albatross's Avatar
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    Quote Originally Posted by southernbelle View Post
    It worries me because I fear it could lead to a situation where they're capping all CEOs' salaries, whether they've fucked over their companies or not. Or for that matter, capping all salaries... setting ranges for minimum and maximum earnings for various types of jobs, such as teacher, lawyer, doctor, etc. I just think it's a bad idea and I don't like the precedent it sets.

    I will admit I don't particularly like Obama, but I'm not blaming him because he's more liberal. I don't think he came up with the stereotype, but I do think he encourages it.
    Uh...most large corporations already do that...the only ones that don't have caps on their salaries are the executives. What's worse is that in most corporations they won't even tell the employees what the ranges are.

    Obama does not encourage the stereotype. The CEOs that are too stupid to stop spending their bailouts frivolously do it. Obama is simply acknowledging the public's outrage at seeing companies that have taken billions of taxpayer dollars and used it for junkets and executive rewards.

    When you take a handout, you show some respect to people giving you help. You don't take their money and throw a damn party, then whine when your benefactors scream foul.
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  3. #63
    Elite Member Penny Lane's Avatar
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    But--but.. CEO bonuses are stimulating to the economy...

    Sarabeth at 1115.org yanks a pretty hilarious pull quote from one-time Presidential-hopeful Rudy Giuliani, who has a pretty creative take on the issue of the $18 billion in bonuses claimed by Wall Streeters this year. These were decried by President Barack Obama as "shameful" and "the height of irresponsibility," but ol' Rudy, he sees this stuff differently -- those bonuses are actually economic stimulus, free-market style!
    "Wall Street has $1 billion, $2 billion in bonuses, the city had a deficit. Wall Street has $15 billion to $20 billion, New York City had a $2 billion, $3 billion surplus, and it's because that money gets spent. That money goes directly into the economy. First of all, it gets taxed as income. Secondly, it gets taxes again when somebody buys something with it."
    Uhm, yeah. I think that maybe a more accurate correlation might be that where the New York City economy is concerned, fiscal success dovetails with periods when Wall Street isn't serving up turd biscuits, and are thus deserving of their bonuses in the $15-20 billion range. Anyway, Mayor Michael Bloomberg is pretty much convinced that the outlook for New York City is pretty bleak, so I guess someone had better go and tell the economy that it's supposed to be performing vibrantly.
    Meanwhile, if you love your country, send ALL YOUR MONEY to John Thain! He knows what he's doing, obviously.
    Giuliani: CEO Bonuses Are 'Economic Stimulus'

    Please, ... CEO bonuses are just another slap to the taxpayers paying to cover their greedy, incompetent asses.

  4. #64
    Silver Member albatross's Avatar
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    Quote Originally Posted by southernbelle View Post
    If they really have fucked over their companies, they shouldn't be getting huge bonuses. But I think telling them they can't receive a bonus unless the company is profiting and flat out capping their salaries are totally different things, and I think that while the former is appropriate, the latter is not.
    But they are...see GM... $39B loss for company = 64% increase in CEO compensation.
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  5. #65
    Friend of Gossip Rocks! buttmunch's Avatar
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    It worries me because I fear it could lead to a situation where they're capping all CEOs' salaries, whether they've fucked over their companies or not. Or for that matter, capping all salaries... setting ranges for minimum and maximum earnings for various types of jobs, such as teacher, lawyer, doctor, etc. I just think it's a bad idea and I don't like the precedent it sets.

    I will admit I don't particularly like Obama, but I'm not blaming him because he's more liberal. I don't think he came up with the stereotype, but I do think he encourages it in stead of drawing attention to the fact that these crooked CEOs are only a small percentage of CEOs.

    No CEO is going to have his/her salary capped unless s/he takes moeny from the government to save the company s/he nearly drove into the ground. As far as controlling minimum and maximum wages, that already happens. The current minimum wage in America runs anywhere from around 5 dollars an hour to just over eight. Teachers, etc. have collective wage agreements that are usually a compromise between what the teachers think is their worth and what they are able to negotiate. Teachers, along with nurses, are woefully underpaid. Actually, lots of people are woefully underpaid. Try living on minimum wage for awhile and let me know how things go.
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  6. #66
    Elite Member suede's Avatar
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    Cap on salary - that's nothing.
    What about the poor folks who will have their salaries cut? Or in simple terms will work 2 days a week for free.


    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?????
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  7. #67
    Elite Member Novice's Avatar
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    Quote Originally Posted by Penny Lane View Post
    But--but.. CEO bonuses are stimulating to the economy...

    Giuliani: CEO Bonuses Are 'Economic Stimulus'

    Please, ... CEO bonuses are just another slap to the taxpayers paying to cover their greedy, incompetent asses.
    Well, if he doesn't say something nice they'll want their "leader of the year" award back, plus he's probably on the board of some companies himself so is just sticking up for his own pay increase....
    Free Charmed.

  8. #68
    Super Moderator twitchy2.0's Avatar
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    "If you are not outraged, then you are not paying attention," Heather Heyer's facebook quote.

  9. #69
    Elite Member Grimmlok's Avatar
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    ^^ sublime
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  10. #70
    Elite Member Chilly Willy's Avatar
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    Quote Originally Posted by southernbelle View Post
    I am self sufficient. I work and support myself.
    Quote Originally Posted by southernbelle View Post
    I am a college student right now, so I live in an apartment near my college town, but my parents still send me money and pay my rent and bills.
    http://www.gossiprocks.com/forum/hig...tml#post549586

    I find it hard to believe that so much has changed in the past two years.
    Last edited by Chilly Willy; February 11th, 2009 at 10:33 AM.
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  11. #71
    Elite Member Sweetie's Avatar
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    Quote Originally Posted by southernbelle View Post
    If they really have fucked over their companies, they shouldn't be getting huge bonuses. But I think telling them they can't receive a bonus unless the company is profiting and flat out capping their salaries are totally different things, and I think that while the former is appropriate, the latter is not.
    Why would a CEO deserve a bonus if their company wasn't profiting? The common people only gets bonuses and rewards for hard work, as should CEO's. Nobody should receive a bonus for failure, and not profiting as a CEO is failure.

  12. #72
    Elite Member Grimmlok's Avatar
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    Paid your rent and bills? LOL

    Jesus, must be nice. I wish i had someone paying my way while i was in college so i didn't have to work in a crappy mall till midnight EVERY NIGHT and do my homework till 3 am just to have enough money to eat.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  13. #73
    Elite Member louiswinthorpe111's Avatar
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    ^^Exactly. I worked 25-30 hours per week, and was a flower girl in the bars so I could make it through with only $2600 in student loans.

  14. #74
    Elite Member Grimmlok's Avatar
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    I'd kill to go back to school and have someone pay my rent and bills. What a fucking cakewalk that would be!

    That's the only reason i dont do it now.. 1, i dont have 40 grand to blow, and 2, i don't want to be so exhausted from school AND work that i couldn't function, and 3, i don't want to be below the poverty line and doing it.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  15. #75
    Silver Member Ettabell's Avatar
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    Exactly! I went to college full time, worked full time and lived off campus for 3 years. The only thing my parents gave me was free reign of the washer and dryer at their house. Give me a break!

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