Posted on 06/24/2006 10:28:20 AM PDT by Tolerance Sucks Rocks
Yet the masses still don't grab the reins of these out of control corporations...they don't vote their shares in their own best interests, and let this inbred system suck them dry. :-(
WSJ is better than this, promoting Marxist gobbledygook.
I don't see how reporting on the state of corporate pension funds amounts to class warfare...
It is promoting fiscal responsibility.
If workers want to earn fat pensions then they should become more motivated instead of producing widgets for 30 years.
Pointing out that these greedy executives are stealing companies from their owners is not Marxist.
I agree that something has to be done to strengthen shareholders' rights. It is ridiculous what is going on in corporate governance and executive compensation these days.
It's just like what happens in government, where you have a highly compensated professional managerial class in the civil service that is constantly expanding their numbers and constantly padding their already-generous benefits. People grumble, but somehow no reform ever takes place.
I'm certainly not in favor of the government setting limits on executive wages, and you can certainly make a case that the real superstars of corporate America earn their high salaries. Good for them. But taken as a whole, the small shareholders are being looted by armies of parasitic, mediocre MBA's.
-ccm
Oooooooo.........
It's not Marxism to observe that the corporate power structure has deformed capitalism, to the detriment to shareholders and consumers.
Many DO vote their [our] shares in their [our] own best interests ... but, even when one owns a large chunk of shares ... it does no good when the rules are set up so that even if all shareholders vote against, or withhold their votes entirely from, a particular proposal [or board member] ... that proposal/board member can be passed/elected by one vote ... his own.The folks coming out of the business schools learned how to manipulate the system. They have infiltrated the boards of most corporations and have loaded up the boards with their cronies ... and the individual shareholder has been left out in the cold while they have feathered their nests and raided the corporations. It has become a matter of you scratch my back and I'll scratch yours. Severe limitations should be imposed on these cross-corporation crony deals. Further severe limitations should be imposed on how many boards one can sit on.
Nothing short of a revolution will put an end to it.
I can get some more sugar in that Koolaid?
This isn't about capitalism. It's about pension funds. P-E-N-S-I-O-N F-U-N-D-S.
If the workers want to make widgets, fine. If they wish to do something more with their lives, that's also fine. But the motivation of the workers is not what this article's about.
Guess you never heard of Social Security, eh?
you better hold your mouth quite different, when speaking to ME face to face, that is, if you want to keep your teeth!
Ooooh, now I'm scared. "Momma!"
>I don't see how reporting on the state of corporate pension funds amounts to class warfare...<
Just aimed at creating a little friction here and there, doncha think?
I can't type so good ---
You from Enron, by any chance?
Why aren't the workers the CEO's? Are they 1. Not smart enough? 2. Not ambitious enough? What is it?
Bob Palmer got $53 million for destroying Digital Equipment Corporation and putting 100,000 people out of work. And that was in 1997.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.