Posted on 01/21/2010 7:14:00 AM PST by TonyInOhio
For later review. Need to see the details.
I’m self employed for 30 years, so believe my pay is reasonable.
What frosts me is that the top 7 officials of GE in which I own stock, for the past 3 years have all earned between $10 and $22 million dollars a year while GE was tanking from $50 to $5 a share. I think it is up around $15 now. Naturally I voted FOR a Proposal for a Shareholders Advisory Vote on Executive Compensation which management naturally advised we should vote AGAINST.
As for what is reasonable? In 5/3/07 Countrywide Financial’s CEO’s salary was $142 million, in 4/30/08 it was $103 million, in 4/22/09 it was ZERO. Same dates for Lehman Brothers CEO, $52 million, $72 million, ZERO. Morgan Stanley, $7M, $18M, ZERO. Then, to answer the question, how much is a president worth to you? there is Goldman Sachs $37M, $74M, $26M.
On a more reasonable scale we have Wells Fargo, $72M, $13M, and now $1.38 million. Also Citigroup, $18M, .95M, and now $2.9M. [Source “Forbes CEO Compensation]
In some cases the “Market” has decided. In some cases undue influence has decided. In some cases good sense has decided. Who do you think should decide.
I was listening to the SC debate this afternoon, and one thing that troubled me was the question as to whether corporations with large numbers of foreign stockholders would be able to have free rein with their money. I can just see Al Qaida buying up shares of stock through dummy buyers so they can influence US elections. Also what if American unions go overseas and help organize the foreign workers of US companies and collect dues from them to use in elections.
We need Congress to pass a law fast that places restrictions on corporations and unions from using foreign money related to their businesses from being used.
A really good thing to try is a member of the C family of nutrients called Pycnogenol. I had a frozen shoulder for three years. I started taking Pycnogenol (100 mg.) for my allergies. After a week I noticed I had a little more range of motion in the shoulder. After two months I had recovered 95% of mobility. It is really good for connective tissues and cell walls.
Regarding the danger of foreign influence in elections, a friend pointed out that with the worldwide hatred of Bush during the past 8 years, imagine how many foreigners would have been buying our stock if they could have had influence on our elections. Well, I guess it would have been good for the Stock Market.
Stockholders.
In your case, that would be you.
GE shareholders should revolt.
With my vote for Shareholder Advisory Vote on Compensation that is what I was trying to do. In 2008 when the 3 top executive of Goldman Sachs had salaries above $65 million, there was an Advisory Vote Proposal that received a 43 or 47% vote by the stockholders. I wonder what it was the spring of 09?
Just as the voters need to regain control of the country, shareholders need to regain control of the corporations.
It's the same problem. Different venue.
Thank you.
**He has defied McCain-Feingold**
“You say that as if it were a bad thing.”
Soros seemed to be immune from the law - how did the old Marxist do it? (that was really my point)
Rush confirmed my hunch that this is a really good decision, and indeed, that your’s was a really poor analysis.
Moreover, a) every Leftie on the Court voted against it; b) every Leftie in America is going apoplectic about it. Obama whines that it’s a “victory for the corporations.” Hmm. Seems like a DAMN good decision to me.
Wealthy executives and board members of corporations can always participate in financing campaigns. I encourage them to do that.
But for myself, I can see where corporations, particularly multi-national ones can significantly override individual interests. And restrictions on unions like the SEIU and NEA are eliminated as well, and that's a bit troubling.
OK, so who “needs” more power and influence?
Unions like SEIU and the NEA? They ALREADY get exempted from restrictions and ARE included “at the table” at every stage of political power. “Non-government” organizations? Labor, enviro, and internationalist organizations? The news media? UN and international socialist groups NOT subject to any rules - like Soros and his cronies?
NONE of these liberal groups had ANY realistic or defacto restrictions on getting THEIR words out - even ignoring the ABCNNBCBS biased coverage.
Or 14 million US small businesses that WERE excluded by McCain jackass rulings? You're making an explicit assumption - because the media has trained you to do so - that “multi-national corporations” will benefit.
But it is the millions of small businesses that really benefit. Plus all of us who abhor Washington's restrictions on free speech.
Look at the four socialists who opposed the ruling. THEY are the enemy who benefits.
Even worse than multi-nationals whose interests may be to the benefit of foreign states are perhaps domestic corporations that have large numbers of foreign stockholders, muslims with oil dollars, for instance.
But your point about unions getting preferred treatment is well taken.
Yep.
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