quote:Originally posted by CashCowMoo: Thus all the more reason to remain a private entity.
it also goes along with the issue that "We the People" have to be more pro-active. Requiring the majority to affirm would involve the sharebholders more.
and maybe most importantly? it would force them to address the issue of who owns real stock and who is holding shares that do not exist legally.
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quote:Originally posted by Lockman: So this would apply to companies not accepting tarp money?
yeah, all publicly held co's.
vote your shares. the CEO's would be spending some money making sure they keep in touch with share holders, but it would also make them pay a little more attention to them too. It's not "class" that makes them CEO's it's competence. money changes their class. they want the money? the should earn it for the people they work for too. and they DO work for the shareholders, they get so "class conscious" that they forget that
it would put a major monkey wrench in the pinksheet pumpandumpers too
as for Tarp? that's such a mess, that i don't really have an opinion on how they should be payed.
the main reason that i do not is that all those bashturds from Enron went itno banking and applied their creepy practices in the banking industry too...
fire them from one comapny? they just go to another and start over..
the ONLY solution to the problems that got us in the banking mess are for people to go to jail for the frauds they committed, we've tolerated people lying to us for too long.
it's not illegal to lie. if you are under oath? then it is illegal.. BUT it IS illegal to lie for profit.
Wednesday, March 13, 2002 Bank hires three former Enron traders South Florida Business Journal
Bank of America has hired three former Enron traders.
The bank declined to comment on what jobs the new employees will have.
The former Enron workers will start April 1 in New York, says Jennifer Tice, a B of A spokeswoman. Enron energy company, based in Houston, declared bankruptcy in December.
B of A says it is not actively involved in the electricity industry. But, the bank has an energy desk that trades natural gas and oil.
The bank has 773 banking centers in Florida and claims 22% deposit market share in the state.
posted
Rush to Hire Enron Employees By SUZANNE KAPNER Published: Friday, March 8, 2002
While the auctioneer's hammer was going down on furniture and bric-a-brac from Enron's European headquarters here last week, another auction was quietly taking place.
The bidders in this auction -- mainly rival energy companies and investment banks -- were not after the 10-foot maple veneer table with walnut trim (Lot No. 5536) that graced Enron's boardroom in a marble and granite edifice overlooking Buckingham Palace. What they wanted were the cream of the 1,600 former Enron employees in Europe, the people who made it the dominant force in energy trading before its collapse last year.
The investment bank Barclays Capital hired 25 former Enron traders and is using the group to establish a beachhead in electricity and natural gas trading. American Electric Power hired Enron's European coal and freight teams en masse, along with its entire trading operation in Norway. Others bidding for Enron employees included two energy rivals, Dynegy and Entergy-Koch.
the "free market" is only as good as the peopl that run it.
Volatile energy markets and record-high commodity prices are prompting renewed interest from investors eager to play in the sector. That has pushed banks and a growing number of hedge funds to hire more energy traders and brainy quantitative minds to back their bets on energy prices. In Houston, New York and London, a scramble for top trading talent has ensued that rivals the cutthroat hiring frenzy of the late 1990's.
"The whole market is hot right now," said Justin Pearson, managing director of Human Capital, a search firm based in London for energy traders. "Everybody is talking about expansion."
And helping to lead the industry's resurgence are traders from Enron like Mr. Arnold, who is not under any legal scrutiny, and those from other companies who lost their jobs after the 2001 blowup. Most have landed on their feet at banks, hedge funds or oil companies like BP and Chevron.
posted
I don't want to underestimate the worth of a really good CEO... But OHHH so many are just collecting money they never should have been given. I am in no way in favor of government mandating the payscale of any company... whether they received bailout cash or not. These are the sorts of things companies, publicly held or not, should be doing on their own just to stay competitive. Take that cash saved from not overpaying some CEO and distribute it by increasing the salaries of the workers and managers. That alone induces employee loyalty and reduces the churn rate to nothing.
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Absolutely... That alone cuts costs immensely. Where I work, the hourly positions are almost perpetually churning. I can only imagine the amount of $ we spend on training. I do know the $ we spend on rework because of some newbie's screw ups... A lot.
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quote:Originally posted by Relentless.: Ceo pay should be directly related to the lowest paid salary... By whatever factor deemed appropriate, be it five ten or whatever.
How about by a factor of 500?
quote: In the four years to 2007, executive pay grew 45 per cent in the US compared with 3 per cent for the average American worker. In the 15 largest American firms, executives earned more than 500 times the average employee compared with 300 times just four years earlier.
I'll grant you that this article is not sourced and so the numbers are likely exaggerated. But still...the fact that the numbers is even in the ballpark of feasible is SICKENING!~
One year work as a CEO is worth the equivalent of 5 centuries of a desk jockey's life? Four years work as a CEO is worth the amount of work an "average man" could put out since the year '0'?
WTF?
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posted
careful now, people will accuse you of trying to start class war...
funny thing is that it's not war until you notice and say something about it...
the "current factor" last year was 400 times.. CEO's of S&P 500 companies made average, $14 million total compensation in 2007... of course that's the best of the best.... but it's still about 140 YEARS at 100K$ per year...
One year work as a CEO is worth the equivalent of 5 centuries of a desk jockey's life? Four years work as a CEO is worth the amount of work an "average man" could put out since the year '0'?
in the 60's the CEO salary was 40 time times average....
the "conservatives" keep talking about going back to the "roots' and the times when principles and moral were intact... well? it seems to me that CEO pay was more in line back in the "good old days" when the "freemarket " ruled... soemhow all these government regulations forced CEO's to have to take alot more pay
tired of paying so much for health care?
The salary and bonus paid to Cleve L. Killingsworth, chairman and chief executive of Blue Cross and Blue Shield of Massachusetts, increased 26 percent last year, to $3.5 million, even though the health insurer's membership declined and its net income fell 49 percent.
Based on previous years' retirement benefits - which Blue Cross-Blue Shield did not report for 2008 - Killingsworth's total pay package was likely about $4.3 million, making him by far the highest paid healthcare executive in Massachusetts.
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