Posted on 03/05/2014 9:30:05 AM PST by SeekAndFind
WOW!
How do I get a job working there?
Would being morally corrupt help?
These guys don't collect a weekly paycheck. They work all year for their end-of-year "bonus." The "bonus" is based on their performance. If they perform big, they get paid big.
The company losing money means they perform big? Very nice outfit they got there...
So you believe that the contracts these people were working under should be ignored because you hate people who earn more than you?
RE: So you believe that the contracts these people were working under should be ignored because you hate people who earn more than you?
I don’t hate people for earning more than me — PROVIDED THEY DESERVE THEIR PAY.
I worked in Wall Street for over 15 years ( left in 4 years ago to work in another industry ). Believe me, MANY people got bonuses DESPITE their contributing nothing to the bottom line or even causing the company to lose money.
Let me count them — Lehman Brothers, Bear Sterns, Merrill Lynch, Washington Mutual, just to name a few ....
So you're the one who gets to judge?
Those people made their contracted goals. The ones who didn't were paid nothing for the year.
Are you willing to forego your pay for an entire year, and get paid based on your performance at the end of that year?
And get paid nothing if you fail?
Yessir. Wave of anti-banker populism is going to wash over our body politic anytime now.
RE: So you’re the one who gets to judge?
Those people made their contracted goals. The ones who didn’t were paid nothing for the year.
_________________
Let’s put it this way, sometimes, an outsider’s judgment based on the company’s performance is MORE CORRECT than the insiders who give the bonuses.
The Lehman folks had huge bonuses MONTHS before the company collapsed. So did Bear Sterns.
Yeah, they made their “goals” alright. Selling useless paper and derivatives to others.
And nope they were not paid nothing. Salaries were still 6 figures. ( not including the bonuses ).
You and Ubama are certainly on the same page.
He decided to ignore established bankruptcy law and steal the equity of GM's secured creditors and hand it over to the unions.
You're decision to ignore the contracts of the workers and pay them what you think they deserve fits that mold exactly.
If you had told those contractors at the beginning of their service what you planned on doing they would have left and the bank would have had an even greater loss. I guess you would let them work the whole year before you told them what you planned on doing, right?
RE: You and Ubama are certainly on the same page.
Why? Obama wants government involved. I don’t.
I simply make an observation based on the people I know and HISTORY and make my conclusions.
My conclusion is simply this ( and please don’t add any more to what I said because I never said I wanted to supplant bankruptcy laws ).
SOMETIMES (note the word ) — the salaries and bonuses a person earns IS NOT DESERVED because they get paid EVEN when the company is LOSING money. I already cited the managers and directors of the many companies I have worked with in Wall Street who, even as they were lavishly paid, were slowly running their companies to the ground.
It happens in government, and ALSO in private companies. Especially in Wall Street.
That's what Obama does.
RE: You want to void a legal contract because you don’t like it.
I challenge you to show me where I said I want to void a legal contract...
Saying that the payment is UNDESERVED 9 an observation ), does not mean I want government involved ( I said that before, you seem to be ignoring what I said ).
Let’s say a player is promised baseball 20 Million dollars
by the Yankees and turned out to be a dud and the Yankees keep losing....
If I conclude that the player DOES NOT DESERVE his salary, why would you then say that I want government to void the pay that he was promised?
I apologize.
Just remember this -— MAKING AN OBSERVATION DOES NOT NECESSARILY EQUATE TO WANTING GOVERNMENT INVOLVED.
Those higher ups who ran their companies to the ground DID NOT DESERVE their salary or bonuses.
Similarly, I’m not sure that this current batch at Barclay’s deserve theirs.
This bank has been caught and fined manipulating LIBOR rates. How many of these people who got their bonuses are involved and not only don’t deserve their bonuses, but deserve to be fired?
And how many of those who were let go did not deserve to be let go?
Hard to tell. But I do know based on my experience that many of those who should have been fired were not only retained, but paid handsomely and many of those who were let go, were let go because of the dishonesty and incompetence of their higher ups.
As I said, I apologize. I didn’t realize that you had such an inflated sense of importance that you think your opinion is a big deal.
Well then, you obviously support the UAW......
How so?
RE: As I said, I apologize. I didn’t realize that you had such an inflated sense of importance that you think your opinion is a big deal.
SOME APOLOGY... NOT ACCEPTED.
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