Skip to comments.US government seeks to rein in executive pay
Posted on 06/11/2009 7:53:52 AM PDT by pillut48
WASHINGTON (AP) -- The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.
Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.
(Excerpt) Read more at finance.yahoo.com ...
They see the Oflationary writing on the wall, and it scares them deathless.
I just don’t see why the country is not in total outrage with this administration.
There may be a case in that how executives are compensated did drive them to steer their businesses into more risky ventures and drive outsourcing faster than it normally would have occurred, but that is because the gov was setting up tax structures that drove compensation that way to begin with. So once again, it is the gov’s fault.
maybe THIS will allow the US discontent to reach critical mass?
...not holding breath ... but we can't be far.
If there is an all out march in DC to show displeasure with our congress and uhbama and his thugs, I’m there.
This executive pay limit will be part of the government’s 5 year plan. Those violating the pay limitations should be turned in by their family or neighbors.
the envious US masses will probably approve.
All the while government workers are growing, college grads this year are going to DC in droves, what about tax payer funded salaries?
Do we get no say?
Where is our Congress?
this is just verbal blather to rattle the cage at this point in time. Let’s see if legislation ever materializes. I bet it doesn’t. As for the companies that took Gov money, well..they aren’t so lucky.
So, I assume, the publically held movie studios and sports franchises will cut actors and players salaries.
Keep your hands off my money.
Government bureaucrats can't tell me what to do my employees?
Bring out all of the leftist statements regarding abortion rights and they actually fit this issue.
Good idea. We'll start with public school teachers. They will get minimum wage with no benefits until further notice.
Welcome to communism, folks.
Including actors and lawyers?
“Americans”, (if we can call them that anymore), have not a clue....completely uninformed by the commie media.
JUST more typical class warfare, from the left. this is the real agenda.. it’s happening slowy but surely... Socialism/Marxism.
No more $21,00 dates to New York on our dime. No more shopping sprees in France for your wife and children. No more pizza delivered from 850 miles to your White House parties. No more flyovers in New York just for a lousy photo op.
Please stop lecturing us about how we spend our money until you have some self-control yourself.
The Fuhrer has spoken.
“So, I assume, the publically held movie studios and sports franchises will cut actors and players salaries.”
I was thinking the same thing...will all of Zero’s supporters in the entertainment and sports industries be getting a pay cut?
“The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.”
Uh...the author means they better prevent risk takers from achieving anything, accomplishing great goals, etc.
Welcome to the land of enforced mediocrity.
I'll do my part by boycotting the above :o)
But those that are heavily compensated pay more taxes...they’re killing the goose that lays the golden egg! Limit compensation, and tax revenues will decrease.
vastly overpaid athletes and actoress trash from making 25 million a year?
We already had that: Europe.
The ammo “stock market” will jump on this news.
Ah, you might be onto something!! I would think sports celebrities would be included in this as well—can’t have them making millions of $$$$$$$ a year, while the majority of teachers (many in the unions!) are scrimping by with less than $50K a year to survive on—I guess this means teachers can expect HUGH pay raises into the millions before too long??
Equal pay for all, share the wealth, share the $$$$$$$$, that’s HolyO’s philosophy, right???
Okay. I’m claiming my piece of George Soros’ pie right here and now. I want my $50 million in small bills, please!!
THIS IS extraordinary. The Obama Administration has no legal authority to do this.
Man, these people really do hate business.
Where do these turkeys think all the money comes from anyhow? Do they think it floats down out of the sky and lands in the US General Fund?
“I just dont see why the country is not in total outrage with this administration.”
As long as the men go home to drink a beer, cook a brat on the grill, and watch sports on TV....
As long as the women can make dinner in the kitchen, buy some clothes, and watch “Dancing with the Stars”....
Bread and Circuses. They don’t care beyond that.
Dont turn around, oh oh
Der Kommissars in town, oh oh
Youre in his eye
And youll know why
The more you live
The faster you will die
Alles klar, Herr Kommissar?
Hear the children
Dont turn around, oh oh
Der Kommissars in town, oh oh
Hes got the power
And youre so weak
And your frustration will not let you speak
I’m sick and tired of seeing CEO’s kill a company and walk away with $200 milion dollar golden parachute while the stockholders get screwed.
Don’t get me wrong...I don’t care what a ceo get’s paid. The company can pay them $10 billion per year I do not care...as long as they back it up with performance.
The current system is based upon ceo board cronyism and little stockholders like me have no say in the matter. Yeah you’ll say I can sell my stock....or don’t buy the stock..but get real, that is not the answer.
Way too many Carley Fioni’s out there.
If they get a golden parachute base the payouts over a period of years so if the ceo made a stupid decision that falls out right after they leave they don’t walk away scott free. They will think twice on their decision(s)
Ceo’s need to make more decisions on the long term effects to their companies, not short term profits. That is the current trend that is killing our corporations...that is get in, make your money and get out. Screw the remaining people holding the stock.
Those out of work are still pulling unemployment...staying home doing nothing and getting paid for it....They are still eating out, still have money to pay car payments etc.....Just wait until there is no more $$$ coming in... OTOH Then they’ll be wanting another hand out.
Getting ready for summer vacation.
This 'pay' thing doesn't affect their ROYAL pay or benefits so....see ya!!
“THIS IS extraordinary. The Obama Administration has no legal authority to do this.”
Didn’t the Commie FDR do exactly the same thing?
Baseball, football and basketball players too.
Because 25 plus million Americans per night get their news from either CBS, NBC, or ABC. I did the horror and watched them all last week. Trust me, it's all roses and sunshine on those nightly news programs. Obama is still "saving" us from the evil Bush.
And, they'll get it. This won't stop until even the 'seed corn' is gone.
Kill the Golden Goose?
What kind of idiot resides in our White House?
Corporate America will pay.
There’s a reason that Michelle Obama advised black audiences to shun working in offices for corporations.
Outrage died in the 90's. America's too whacked out on Soma to give a damn.
mike church is on it right now, He just played emporer palapatine ushing in the galactic empire. lol
My pay has already been cut this year to be competative with rates in India.
This d*** can go screw.