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03-12-2009, 09:41 AM
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Senior Member
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Join Date: Feb 2008
2,838 posts, read 1,868,345 times
Reputation: 1413
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Is This Right?
I'm not a business person, so I wanted some opinions from the more savy people in this forum.
I live in Oregon. We're a fairly small state with about 3,000,000 people. We have several power companies, but the largest is PGE. The CEO has decided to take an early retirement. So, last year they awarded her with an annual salary of 4.5 million and a lifetime retirement amount of $790,000 per year. PGE has 1 or 2 rate increases every year they pass along.
Partially in light of the fact we're a small state and partially in light of our current economic times, are these retirement terms out of line or acceptable?
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03-12-2009, 10:00 AM
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Senior Member
Status:
"Merry Christmas!"
(set 5 days ago)
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Join Date: Aug 2007
Location: US
1,618 posts, read 1,272,942 times
Reputation: 310
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I don't think anyone should be living that lavishly these days. Oregon is not New York and if I lived there I'd be very upset about this.
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03-12-2009, 11:16 AM
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Normal people scare me
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Join Date: Jan 2007
Location: Miami
274 posts, read 245,174 times
Reputation: 176
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Quote:
Originally Posted by BLAZER PROPHET
I'm not a business person, so I wanted some opinions from the more savy people in this forum.
I live in Oregon. We're a fairly small state with about 3,000,000 people. We have several power companies, but the largest is PGE. The CEO has decided to take an early retirement. So, last year they awarded her with an annual salary of 4.5 million and a lifetime retirement amount of $790,000 per year. PGE has 1 or 2 rate increases every year they pass along.
Partially in light of the fact we're a small state and partially in light of our current economic times, are these retirement terms out of line or acceptable?
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Legally, acceptable.
From an ethical standpoint, this is very debatable |
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03-12-2009, 12:54 PM
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Do Not Steal, the socialists hate competition
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Join Date: Oct 2007
Location: Here today, gone tomorrow
5,635 posts, read 2,737,230 times
Reputation: 1307
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I think it should be legally unacceptable... being paid that much for "retiring" is downright criminal... the only way I would accept something like that is if they contributed a hundred million dollars to this "pension" plan... don't contribute, don't collect... these companies are following the footsteps of the poor.... zero work = great pay from the US taxpayers... socialism of the uber wealthy and poor has to stop...
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03-12-2009, 10:20 PM
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Not a member
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Join Date: Sep 2008
Location: Virginia
931 posts, read 655,604 times
Reputation: 286
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Sounds fine. Don't worry so much. The tax money she will have to pay will provide you a raft to travel from your couch to McDonalds.
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03-13-2009, 01:48 PM
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Senior Member
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Join Date: Jul 2007
Location: Southwest Missouri
1,679 posts, read 1,172,169 times
Reputation: 615
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How can anyone here pass judgment on the compensation agreement without knowing anything about the accomplishments of the person in question? Some people are awful quick to waive the "ethics" flag without taking a long look in the mirror first. Just my two cents.
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03-13-2009, 03:18 PM
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Destroyer of Limbaugh Loonies & F#x Fools
Status:
"Bring the Bush/Cheney war criminals to justice!"
(set 29 days ago)
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Join Date: Oct 2006
Location: Capitalism is Cancer
1,453 posts, read 924,066 times
Reputation: 670
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Quote:
Originally Posted by evilnewbie
I think it should be legally unacceptable... being paid that much for "retiring" is downright criminal... the only way I would accept something like that is if they contributed a hundred million dollars to this "pension" plan... don't contribute, don't collect... these companies are following the footsteps of the poor.... zero work = great pay from the US taxpayers... socialism of the uber wealthy and poor has to stop...
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No, they're following in the footsteps of the robber baron capitalists. Take as much from the suckers as you can get away with. Didn't Rush Limbaugh tell you that? Oh, sorry he's still bleating about socialists and liberals instead of taking responsibility for the disaster caused by him and the rest of the "profit uber alles" corporate capitalist whores. |
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03-15-2009, 01:23 AM
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Moderator
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Join Date: Feb 2007
4,580 posts, read 3,955,199 times
Reputation: 1507
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Quote:
Originally Posted by geos
No, they're following in the footsteps of the robber baron capitalists. Take as much from the suckers as you can get away with. Didn't Rush Limbaugh tell you that? Oh, sorry he's still bleating about socialists and liberals instead of taking responsibility for the disaster caused by him and the rest of the "profit uber alles" corporate capitalist whores.
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What did Limbaugh say about PG&E? |
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03-15-2009, 03:16 AM
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Senior Member
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Join Date: Nov 2007
708 posts, read 677,954 times
Reputation: 194
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"...annual salary of 4.5 million and a lifetime retirement amount of $790,000 per year..."
My perspective is that it's over the top and out of line.
But then if she were my mom, I'd likely consider it at right and totally acceptable.
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03-15-2009, 05:56 AM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,140 posts, read 1,677,009 times
Reputation: 1193
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If I had that retirement, I probably wouldn't be sitting here typing about it.....
I'd be on my catamaran, tooling around the Bahamas.
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