$89,000 a month for NOT working!!!

[NJBest]

Originally Posted by Tampaite

What? do the child tax deductions give you $89,000 a month? am surprised!!!

Its GE that lobbied for the tax loopholes not you and me for child tax deductions.

You're mixing up two different things here and trading them as one.

The first thing is that a man received a severance package that contains a non compete clause. The other is that no one is passing their fair share of taxes. One does not relate to the other.

[TechGromit]

Kinda of reminds me of Circuit City a couple years ago paying retention bonuses to there top executives. These were the same *******s that were running the company into the ground, but they wanted to pay the millions in bonuses so they wouldn't be lured away by a competitor. In retrospect, perhaps they should have offered them incentives to leave the company, probably would have saved the company by making there competitors fail.

[Willy702]

Corporate taxes are pretty stupid anyways so I'm not going to be irrational and complain about how they didn't pay in a given year. They get even more full of nonsense when its a company like GE makes something overseas and sells it overseas and yet somehow the US government deserves a cut of that transaction.

Whether any person deserves the sort of pay package these executives get is definitely up for debate and I think most companies are quite stupid about how much they pay out. True talent in the C-suite is very rare and deserves big paydays. Most bodies occupying C-suites do not have anything resembling true talent. The song and dance done as the Board decides who should be promoted to the highest level jobs are really quite silly, in most cases dozens of people in an organization could handle the most senior roles in a company. If anything a really forward looking company would put the jobs out to bid, designating say 20 current employees who they deemed "ready" for the job and then asking all candidates to submit what pay package they would require to take on the role. With the bids in, the Board and senior execs could find the best value for the job and pay rates would come down in a few years to more logical levels. Instead its done backwards where someone is told hey we really want and need you for this job and then of course the chosen person is going to expect to get a big payday.

[lifelongMOgal]

Originally Posted by Tampaite

How is it good for him when you are getting scre**d? Only shareholders ought to decide stuff like this!

Um no, at the level of corporations the size of the DOW traded corporations shareholders do not approve/disaprove salaries and benefits for anyone other than the "golden parachute" clauses for members of the Board of Directors.

It is not unusual for corporations to pay for non-competing clauses.