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As a stockholder, I think this is a lousy idea. Now every company that is thinking about getting into bed with the government, will want to risk failure instead, rather than risk their best talent going somewhere else with better pay.
Best talent?????????
The best talent takes the company to bankruptcy in need of big time government welfare and that is the best talent?????????
Well the CURRENT President was a Senator at the time and voted FOR it.
The Congress has to pass what the President executes.
Congress PASSED that "blank check" bailout bill and then cried later they didn't think the money would be used for trips and bonuses and trading.
Did you forget that small piece ?
Would any Congress have voted for a multi billion dollar bailout in order to provide luxurious vacations and bonuses for the very wealthy CEOs and managers who ran the company into the ground?
No one is going to sit still for a 90% cut in pay (which is the percentage being reported). No one could afford such a cut. Could you?
These people will simply walk. And the Companies will not be able to hire anyone to replace them.
Obama is stupid. This is unconstitutional, and he is simply driving another nail in the coffin of the Democrat Party.
Greater responsiblilty in a company demands higher pay. There is nothing obscene about how much some of these people make, when you consider the responsibility they carry on their shoulders (heart attack city). The pressures are something no hourly worker can imagine. Yet the typical "wage earner" disparages these people, even though most are barely able to qualify for their hourly wage.
Mr. Obama is single handedly presiding over the destruction of the free world. And he is doing it on purpose. The man is insane.
How can these executives have "greater responsibility" when the government has to take the responsibility for fixing the damage caused by their incompetencies? By your theory, the government should get the big bonuses!
Exactly, why don't they cut professional sports pay? After all, many stadiums were built with city funds, so they are beholden to the city goverment, right?
Why don't they decide to cut college professors' and college football coaches pay? Much of their funding comes from the government. And those are non-profit entites and they are making millions!
Seriously, this is a bad road to go down.
I don't recall big government bailouts to professional sports players or coaches.
Would any Congress have voted for a multi billion dollar bailout in order to provide luxurious vacations and bonuses for the very wealthy CEOs and managers who ran the company into the ground?
Doesn't matter..it was a "blank check" bailout. Go and read that bill..clearly stated they could use it however they see fit and that was Paulsen and Bernake.
The best talent takes the company to bankruptcy in need of big time government welfare and that is the best talent?????????
Mmmm what kind of talent do you suppose they will get for 200k once the others have left? Again lets take the worst team in (pick a sport) cut their salaries by 90% do you think that would produce a winner?
Well, I was and AM still against the bail-out. Let failing institutions fail. So, I am inclined to say that any institution that TOOK govt money will have to dance to the govt's tune.
But, on the other hand, once you give some government APOINTEE the power to decide who gets to keep their bonus and who doesn't - don't you see that this is a bad road to go down?
Not really, I see it as something that will motivate firms to try and find other avenues to stay afloat.
Though I generally am against government intervention, when they end up providing the support that allows the companies to be ongoing concerns, they get some authority in setting compensation too.
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