Posted on 08/23/2002 5:23:56 PM PDT by CanadianFella
Many of the problems we have now in our economy is there are too many over paid executives who don't contribute nearly enough to warrant their millions per year in salary. If you make the company $20 million bucks, hey, fine, get paid. Get your fair share. Get your worth. If not though, to hell with your golden parachute.
If Bill Gates makes a product and sells billions worth of it, hey good on him. He deserves it. He contributed. No problem there. My problem is there are too many execs who piggy back around, yet don't contribute, yet they get high dollar.
The individual consumer is the most important part of the economy, no matter what any stupid liberatarian with no economic sense dares attempt to ideologize.
Its pretty damn easy to spend someone else's money.
The money gets spent, no matter what. The thing is, in some companies it gets spent on the cronies at the top, rather than on people at the bottom.
Stock prices going down down down, long term potential for the company going down down down... executive pay... going up up up.
Fortunately corporations are private entities. Executive compensation is established by the board of directors who are elected by the stockholders. The problem is that stockholders whether they own stock directly or indirectly through mutual finds don't pay much attention to how the corporation is being managed.
The other thing to keep in mind is that high executive salaries are ego driven. You can only hide so much from the IRS.
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My post #41: Many of the problems we have now in our economy is there are too many over paid executives who don't contribute nearly enough to warrant their millions per year in salary. If you make the company $20 million bucks, hey, fine, get paid. Get your fair share. Get your worth. If not though, to hell with your golden parachute.
If Bill Gates makes a product and sells billions worth of it, hey good on him. He deserves it. He contributed. No problem there.
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Fortunately corporations are private entities.
Fortunately you are out of your mind. It depends on the corporation, but big corporations are publicly traded and publicly owned. Any Joe with $500 bucks can buy in.
Executive compensation is established by the board of directors who are elected by the stockholders.
Again, the CEO and maybe some very top people are like this, but thats about it. If you have 30,000 employees, a select few get their salaries determined by the board. After that management is generally autonomous. After that, its up to them how they control things.
The stuff I don't like is starting with a billion dollar corporation, and ending up with a $500 million dollar corporation then getting paid $10 million bucks in the process.
People complain about worker productivity. Why not complain about executive productivity also? What happens when their "vision" doesn't work?
Its kind of like getting $10 million for getting knocked out in the first round by Mike Tyson.
I think everyone should be paid after they perform though. Give them a base, then if their plan tanks, see ya. If it works, why, here is some stock that we've set aside... on the house.
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