An administration official says that President Barack Obama wants shareholders to have a voice in determining the salary of corporate executives. The official says Obama will ask Congress to draft legislation as part of the administration's effort to tie pay to long-term performance instead of short-term gains.
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16 comments:
Great... Compensation disparity is an issue whose recognition is long overdue. The greed of some individuals is sickening.
Now that the tax payer owns most of these corp, He should have that right.
Don't be so naive to think your not next...
If your compensation is low enough to be "under the radar" at least you can sleep comfortably knowing that is where you will stay. Sweet dreams everyone.
2:40, 2:46 you are spot on. As a shareholder (priority) the government absolutely should do this. These bums bankrupted the system for god sake. What's wrong with stopping the madness?
This is no longer "creaping socialism" Rampant is more like it.
3:05 is on the mark.
Now if the taxpayers could determine the pay for our representatives and government officials...
I heard that next he's going to order all the government run corporations to issue uniforms. Brown shirts actually.
You people that think it is okay for this dictator to set executive salaries are CRAZY!
What next?
You know the "smart grid" technology that he's pushing will be able to remotely turn off you home appliances when you watch too much T.V.
Get a grip on reallity, this Obama guy is a dictator!
Works just like the Mafia.
They set up your fall, then come to your rescue, and before you know it, they own and control you for life.
Obama is a thug!
This is not what
Yahoo News says
I agree with Buxom Barbie. We the Tax Payer are the same as the share holders in private industry. If they pass this law, then all Politians have to allow Tax Payers to vote on their pay, raises, benfits and all compensation they receive. They fall in the same category as corporate executives. They are in charge of the running of the Federal Government the same as corporate executives in private industry. Would it not be nice to cut the $170,000 salaries to $70,000 and slash their ridicules retirement to 33% of their salary which only the Politian receive and not have their spouse also drawing a retirement from the Government. The President's salary would not be, what, $450,000. The President would be capped at $250,000. They would have to draw SSI and go on Medicare. Tell me then Medicare and SSI would not be properly funded. No more free vacations / trips around the world, when Tax Payers cannot afford to go on family vacations. I beg the Congress to pass this and see their explantion on why they do not fall under this law. Why they exempt themselves as they do on majority of the laws they pass.
The real story:
Treasury Secretary Timothy Geithner says the Obama administration doesn't want to place caps on executives' pay — even though it believes excessive compensation led to risk-taking that contributed to the financial crisis.
Geithner said the administration will seek legislation that will permit shareholders to vote on executive pay packages, but the results would not be binding on boards of directors. The administration will still restrict compensation at companies that are receiving taxpayer assistance through its $700 billion financial bailout program.
Geithner said the shareholder measures, as well as legislation to keep corporate compensation committees independent from boards of directors, will reinforce pay guidelines that the administration released Wednesday. Those principles encourage corporate boards to adopt pay packages that reward long-term performance rather than short-term gains
Let the voters impliment pay guidelines for Politians. Same difference.
I've had a real problem with giving any of them all that money until they agreed to fire all those upper people who put them in the situation to begin with.
Those jokers got paid anyway and continue to get paid today.
How fair is that? If I ran my boss's books into the grave, I wouldn't have a job, you can bet on that!
Whats next? This President scares the hell out of me-he is trying to exert too much control over private enterprise.Sure the CEO's are greedy rats but it is up to the companies and their shareholders to make decisions,not some demigod who wants to make everyone equal.
So I ask,whats next?Controlling what we wear,where we live?What kind of car we drive?
Ok George Bush BOUGHT most of the private enterpirse, how much control is that?
"Get a grip on reallity, this Obama guy is a dictator!"
Winner of tonight's unintentional comedy award. This thread is FULL of a bunch of runners-up, though.
You guys are crazier than Rosanne Arnold on Viocodin.
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