Well if anyone deserves his money it's bill gates.
lol ...
yeah, vote in someone who is going to do the same thing. again, why so many average schmucks scream and cry over wanting to limit CEO pay or raise taxes on high incomes, is beyond me.
Oh that's right, that's gonna be you some day....
Quantify those inequalities. Show me.
Show me.
Say yoni...do you believe in things like anti-trust laws ? A progressive tax system ?
How 'bout the thousands of executives at Microsoft making mid-six figures and above? All because of the vision and business a en of Bill Gates?
Then, you have to talk about all the executives of all the high-tech firms making damn good salaries because of the marketability of the computer achieved by Bill Gates, Michael Dell, Steve Jobs et. al.
I have friends that make a quarter-million a year doing mid-level technical work for Dell Computers.
You would begrudge Michael Dell his billions? Well, because of him, there are thousands of people worth millions to billions.
That's wealth creation. If you can't do it, shut up and let those who can, keep on. And, if their company's boards see fit to reward them with what you believe are exorbitant bonuses, don't buy their stock...and, if you have it, sell it. I'll gladly enjoy the splits on your dime.
What is strange about it? Rush earning that 300 mil doesn't take away from the viewers earning the same. Maybe they respect his work ethic.
as an average schuck, I have a huge problem with the government depicting groups as victims. I hate someone want to have power over someone having to explain how they became financially successful. I find it hillarious to think people who never had a job in the private sector think they can make it "fair" in the private sector.yeah, vote in someone who is going to do the same thing. again, why so many average schmucks scream and cry over wanting to limit CEO pay or raise taxes on high incomes, is beyond me.
Oh that's right, that's gonna be you some day....
I won't even buy his crappy software ...he's a criminal. Dell I have no particular problem with.
Warren Buffet agrees with me. You have Rush.
I guess we're even.
I call bull .
Work a 9-5 M-F job and then moonlight on weekends and some weeknights.
http://www.sonecon.com/blog/?tag=executive-compensationIt was an au ious week for the touchy issues surrounding executive pay. One after another, President Obama’s pay czar, Kenneth Feinberg, announced new restrictions for AIG executives; Goldman Sachs was reported to be putting aside $23 billion for this year’s bonus pool, the largest anywhere, ever; and Elinor Ostrom from Indiana University shared the Nobel Prize in economics for her breakthrough work on how large companies organize themselves, often in ways that encourage executives to put their own financial interests before those of the shareholders.
Starting with Goldman, it’s obvious that annual bonuses equal to 10 or 20 times what an average American earns in his or her entire lifetime, coming from a firm which recently received huge, direct and indirect taxpayer-funded assistance, are certain to spark outrage. That reaction isn’t misplaced, and there’s a sensible response to it based on the core tenets of capitalism, which we will get to shortly.....
I feel so sorry for these poor guys ...it just makes me weep....by the way, GE, of which Welch was the CEO of, payed zero income tax last year. Zero, Zip, Nada...
It took public divorce proceedings against GE’s Jack Welch for shareholders to find out that on top of the many hundreds of millions of dollars Welch received in stock and salary, his friendly board had also awarded him lifetime use of the company’s 737 and helicopters; lifetime floor seats for the Knicks and lifetime box seats for the Red Sox, Yankees and the Metropolitan Opera; exclusive lifetime use of a sprawling Manhattan apartment, including fresh flowers, dry cleaning service and even the tips for the doorman; and a catalog of lifetime golf and country club memberships. His and most other executive contracts also now include “gross-ups,” which means that the shareholders also pick up federal and state taxes owed on the executives’ various perks.
How much income did they have? If you want to blame someone for GE paying no taxes, blame the legislators that write the Tax Code allowing GE to do what any of us would do.
How much tax did their employees pay?
About FACE, forward MARCH ...lol
Actually I don't care about that. We have some the highest corporate taxes in the world. I would like to see zero corporate tax, as it is in Hong Kong. You tax the individual wage earner, not the corporation. It would be nice if these chumps wouldn't steal the money though..oh, of course these are salaries and bonus's they 'earned'. CEO's and boards get bonus's, HUGE bonus's whether the company makes money or loses money. Surely you've heard about this. It's been on the news...for about ...10 years or longer....
How about this one...there are tons of 'em out there....
Sanjay Kumar, former CEO of Computer Associates had pleaded guilty to charges including conspiracy, securities fraud and obstruction of justice back in April. He has been sentenced to 12 years and fined $8 million.
As part of a $2.2 billion accounting scandal he had falsely reported software licence revenues and lied to investors
Another big fraud that shook the corporate world was planned by founder and CEO of Adelphia Communications Corporation, John Rigas. Adelphia was once the fifth-largest US cable-television company. The company filed for bankruptcy in 2002.
....
In one of the biggest scandals in telecom history, former CEO of Denver-based telecommunications company Qwest International was convicted of insider trading.
The SEC lawsuit, filed in 2005, alleges that actions by Nacchio and other former Qwest Communications International Inc. executives allowed the Denver-based company to improperly report revenue.
...
A stock option backdating scandal hit the storage networking company Brocade Communications Systems in 2005. Its CEO Gregory Reyes was sentenced to 21 months in prison for tampering with the financial records of stock options the company offered its employees.
.....
The 85-count indictment of HealthSouth CEO Richard Scrushy in 2003 sent shock waves through corporate America, especially since Scrushy was the first CEO to be charged under the 2002 Sarbanes-Oxley Act. Scrushy eventually stood trial for 36 counts of fraud and money-laundering, but was acquitted of all charges in 2005. However, his legal battles did not end there. In 2006, Scrushy was convicted of bribing former Alabama governor Don Siegelman in exchange for a seat on a state medical review board. He is currently serving a seven year prison term.
...
Sam Waksal, founder and former CEO of the biotechnology company ImClone, is a long-time friend of Martha Stewart and the person responsible for tipping off her broker and members of his own family to the pending plunge of ImClone stock in 2002. He was convicted of several counts of fraud, obstruction of justice and perjury, and sentenced to more than seven years in federal penitentiary.
the list goes on and on and on and on ....
let me ask you this yoni, what would you say is at the core of this recent phenomena of so many ceos being crooks ? Is it the general decay in the moral fiber of our nation, or is there something else at the heart of it ?
Last edited by word; 04-20-2010 at 06:20 PM.
Again, you're back to wanting to control what they do with their own money.
Sounds to me like the legal system works...at least it did under the Bush administration.
Let's see if Obama's Justice Department is as zealous...
Besides, as long a list as you could come up with, there are a 100 times more corporations out there doing honest business and creating wealth for their employees and stockholders.
Well, until Obama got ahold of Wall Street. We'll have to see how this all shakes out now, won't we?
You see, when they give them these stock options as bonus's, it dilutes shareholder value, simple as that. The boards of these companies work on a 'scratch my back I'll scratch yours' mentality and the stockholders be damned because the system is rigged against them to have an power to vote against it. In fact, you don't get a vote if you want to award bonus's. You only get to vote on the board. After that, whatever they do, they do. Is it too much to ask that I don't have to pay for a CEO's 737, or opera tickets etc etc or have to s out, as in the case of some wall street firms, a multi- billion dollar bonus to A PERSON. A person who not only I have to pay his bonus but the tax ON that bonus ?
"These are all examples of what economists call the “agent-principal problem,” in which the interests of agents — they’re the executives — diverge from those of the principals, who here are the owners or shareholders.
Clearly you never been burned by a company, either working for them, or owning their stock. Hope it never does, but if it does, I assure you, you'll be pissed when you find out someone 'told you what to do' with 'your money'. That is, put it in 'their pocket'. But I don't know your age/experience in life. I'm retired, and I've seen too much of this bull .
If their stock isn't earning for me, I sell it. Simple as that. And, my friend, that's where the stockholder's power lies. If I'm earning on their stock, I could care less what they pay their executives.
Watched my 401K disintegrate and I'm about to retire. Lucky for me, I'm invested broadly.
I choose my stocks carefully.
You do understand that thousands if not hundreds of thousands of people have been hurt by this bull and catching them 'after the fact' after the damage is done, is not 'the system worked'. The criminal justice system, yes, but I don't own stock in that.
We can agree on that, right ?
Last edited by word; 04-20-2010 at 07:42 PM.
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