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Old 03-31-2009, 08:07 PM
 
Location: Great State of Texas
86,068 posts, read 76,589,819 times
Reputation: 27642

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It's called "Pay for Performance Act of 2009" and it's not just salaries of CEO's but salaries of all employees of any firm taking government money.

www.washingtonexaminer.com >> Politics (http://www.washingtonexaminer.com/politics/Beyond-AIG-A-Bill-to-let-Big-Government-Set-Your-Salary-42158597.html - broken link)

So would that include stimulus money ?
Can the government dictate salaries if the jobs get offshored ?

And this bill was in Committee last week and passed. Due for a full vote of the House next week.

So this was already in the works. Guess everyone should check to see if their company will be getting government money.
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Old 04-01-2009, 03:33 PM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 6,848,346 times
Reputation: 874
I think it's a harebrained idea.

Govt gives bailouts to help the company get back on its feet and succeed.

High-quality employees steer clear of these companies because they know they won't be able to fetch a handsome salary, and certainly won't be eligible for any sort of decent bonus either. Opportunity is very limited here.

Seems like the kind of limited opportunity that might attract someone just starting out with no experience, and/or a mediocre employee.

A sure-fire recipe for success! That firm's sure to be headed back to Uncle Sugar for some more money because try as they may, they can't seem to get out of their rut.
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Old 04-01-2009, 03:53 PM
 
Location: Virginia Beach, VA
5,517 posts, read 9,392,013 times
Reputation: 2547
Quote:
Originally Posted by bbkaren View Post

High-quality employees steer clear of these companies because they know they won't be able to fetch a handsome salary, and certainly won't be eligible for any sort of decent bonus either.

High quality employees like the ones that were paid top end salaries to run the company in to the ground in the first place?

Hell, Id take my chances with the "mediocre" ones. The result couldnt be much worse, but I would save millions in salary.
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Old 04-01-2009, 05:08 PM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 6,848,346 times
Reputation: 874
Have fun with that. Let us know how it turns out.
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Old 04-01-2009, 05:45 PM
 
Location: Rockland County New York
2,984 posts, read 5,422,994 times
Reputation: 1295
What fools are going to sign this one?
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Old 04-01-2009, 07:05 PM
 
48,508 posts, read 88,405,409 times
Reputation: 18187
Even the governamnt doesn't trust the mediocre people;look who they are turning to to get rid of the so called toxic assets, Face it; the government is clueless;other than cheerleading the madDening crowds.
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Old 04-01-2009, 07:05 PM
 
Location: Great State of Texas
86,068 posts, read 76,589,819 times
Reputation: 27642
Quote:
Originally Posted by bbkaren View Post
I think it's a harebrained idea.

Govt gives bailouts to help the company get back on its feet and succeed.

High-quality employees steer clear of these companies because they know they won't be able to fetch a handsome salary, and certainly won't be eligible for any sort of decent bonus either. Opportunity is very limited here.

Seems like the kind of limited opportunity that might attract someone just starting out with no experience, and/or a mediocre employee.

A sure-fire recipe for success! That firm's sure to be headed back to Uncle Sugar for some more money because try as they may, they can't seem to get out of their rut.
LOL..why that sounds like working for the government..the pay is lousy but you get lifetime employment and good benefits.
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Old 04-02-2009, 01:13 AM
 
5,409 posts, read 10,326,286 times
Reputation: 4478
Generally our G contracts -- where we are required to produce goods and services for payment (not bailouts like the Welfare Queen Corporations and Banks) require that we pay our workers well -- called prevailing wage.

Works well for the G, the workers, and helps us produce quality products and services.

Without prevailing wage requirements, the greedy top end operators would try to screw down the labor, and gouge for themselves -- hmmm, just like the Welfare Queen Corporations and Banks.

At any rate, keeping the bottom up and top from gorging is what makes a healthy middle class. Remember back when that was considered a good thing?

The more I see, the stupider the uber Capitalists look. Not that I think Socialism is some great thing. Just seems the MBA folks are total idiots. Would rather the bailouts require firing all of them instead of just limiting their pay.
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Old 04-02-2009, 03:03 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,484,883 times
Reputation: 6378
They need this bill for personal relationships.

/just saying.

//my wife is gonna smack me if she reads this.
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Old 04-02-2009, 04:37 AM
 
14,033 posts, read 6,733,126 times
Reputation: 8783
I wonder how long it will be before Geithner/Obama want the power to hire/fire/set pay for any government contractor? This is a very short step to that. The President is now in the business of firing CEOs and setting a Board of Directors. The Secretary of the Treasury demands that banks take government money whether they want it or not (several didn't), won't allow them to pay it back AND wants control over the salary of every single employee (down to the janitor) of all these banks????

Houston - we have a problem.
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