Those guys are long gone. New execs were hired to return the corporations to profitability. Proven, competent CEOs don't come cheap. It's a political ploy, pure and simple. Hell, Ed Liddy agreed to lead AIG for free and was doing a hell of a job until the politicians ran him off with their petty bullsh!t.
Just gone somewhere else, unless they are under indictment. This is true. But they can come cheaper than the absurd levels that some of them have skyrocketed to. Competent employees at all levels cost money but there are checks and balances that don't exist at the highest corporate levels in America. LINK In 10 years (1995-2000) CEO pay rose 298.2% while corporate profits rose only by 106.7%, meanwhile the average worker pay has only risen by 4.3% and the minimum wage worker has declined 9.3%. These numbers stink to high heaven. Every corporate stockholder in America is being cheated by this inflated executive salary spiral. Every corporate employee is being underpaid unjustly.
the person who decides if he is underpaid is the employee. if he is, he takes his skills and works for somewhere that they are properly valued. if these companies are awesome and they are able to hire folks for less than they are worth, that sounds like a great investment. why would anyone work where they are underpaid? they should work somewhere else. if they cant get more money, then perhaps they should reconsider their value. if you take a job for less than you are worth, whose fault is that? how so if they are getting bargain by underpaying the regular employees? and isnt this the responsibility of the shareholders, not for me or you to worry about? well, i guess in the new socialist economy, where the government decides salaries it is our business. the checks existed when a company was actually allowed to fail for being run poorly. in the new socialist economy the checks and balances are destroyed in favor of government control.
What I said was that money going to excessive executive compensation comes out of shareholder profits.
you just said the regular employees were underpaid. now your claim is that the stockholders are underpaid? which is it? isnt an underpaid regular employee good for the stockholders? isnt it none of our business, in the most literal sense?
You've been on the public dime for too long Red. Out here in corporate America you earn what you get and bitching about it gets you no points. Like martin says, if you don't like it go somewhere else.
I said BOTH. Figure it out. No, adequately paid employees at every level is best for the stockholders. Good compensation get get good people, sometimes special compensation for special results, but never extravagant compensation as a matter of entitlement. I own some of these companies. Of course it is my business.
You choose where to invest. If you don't like the way they run the Company, put your money elsewhere. And you don't own squat. I guess you think Cops work for you too.
I am not on the public dime, chief. I am not in a civil service position with a guaranteed job. I'm not in a tenured position with a guaranteed job. It works that way in university research, too. We don't produce, we are history. We excel and we are rewarded. Tying executive compensation to results is fine with me. That's how it works with us. But that's not how it works for most CEO's now is it? Nope, This is America, they are my companies, and I can bitch about anything. You bitch constantly and so does martin.
with you lefty's everything is a problem. low wages for workers is clearly good for stockholders. but you want to complain about your cake and eat it too. not if they are giving the company more value than they are getting paid. clearly. i am destroying you in this argument. and by insinuation bad pay gets bad workers? you get what you pay for? so if they are underpaid, i guess they dont deserve more then? the companies could have better employees but they dont pay for it? so they get what they pay for? where is the injustice? complain at your stockholder meetings. the government has very literally no business here. sounds like this is a problem for red but not for "us", the nation, the government. cant we just for once in a goddam while understand what "private" businesses are?
