If it would prevent these type of scum becoming CEOs of companies in the future, I think the long term effect on the economy would be pretty damned rosy.
Let me get this straight – We shouldn’t punish criminals who fuck the economy because it might discourage other people from becoming criminals who fuck the economy?
He must have picked that one up in Corporations.
This whole thing reminds me of when I begged my mother for ten dollars so I could buy my sister a Christmas present. I then found something I wanted for myself and used the money to buy it. Oh, to be twelve again.
Hmm, slow, steady growth, compared to rapid rises up, followed by dramatic plunges which wipe out all gains, and potentially have the lot of us standing on street corners holding cans which say “Pencils Five Cents.” I’m going to go out on a limb here and say that the slow, steady growth is the better of the two options.
After all, if these CEOs were any fucking good, they wouldn’t have had to resort to screwball financial schemes to keep the money rolling in. Why the fuck would anyone with a degree (probably several) think that ARMs and “interest only” mortgages (as well as dozens of other stupid things) was a good idea?
For fuck’s sake Billy Durant wound up managing a bowling alley after being tossed out of GM and having the Great Depression kill his next car company. Durant at least had some business sense, and he ended up a pauper. These fuckers aren’t worthy of licking the toilets at Durant’s bowling alley and they’ll all be back cratering other corporations before you know it.
It might just be outrage fatigue, but I’m suddenly much more intrigued by this concept. Where on the timeline falls the owl’s death, and such.
*When they found him, he was passed out in a ninth-floor tenement flat beside a bottle that used to hold rye and a dead owl. Swore to the bulls on the soul of his mother it was a frame-up.
He might’ve been full of shit. The owl sure was.*
lessee, take the exorbitant CEO pay, turn it into say… 100% more than the least paid person in the company, invest the rest of that money into… i dunno… the company’s own stock, and you have a better ecomony already.
It might just prevent executives like these fuckers from laying off a certain percentage of employees to make their numbers look better for the quarter, or you know be responsible or something.
More to the point, Cervaise, how did you get your shit inside of a dead owl?
Haven’t you been listening? They don’t fuck the economy, they create wealth.
The problem lies wherein all CEOS, good or bad, get outrageous pay. Also, there may be a bit of fallacious thinking involved. Good CEOs could certainly be found in the days before stacking corporate boardrooms with cronies and setting up big bucks regardless of performance. So why it is that this is suddenly a necessity? Reward CEOs with future based options, but we need to get rid of the golden parachutes for non-performers. If I fuck up my job no one if going to give me millions of dollars to leave; I’ll just get fired.
Said another way: High Risk - High Reward makes sense. Low/No Risk - High Reward is fiduciary irresponsibility on part of the board of directors.
I just had my first million dollar idea of the post AIG economy. I will create and sell solar powered owl stuffers with Cervais shit attachments.
It’s looking like there will be a lot of owls, so there is a definite need.
Same way you get your shit into a live owl, but with far less hassle.
The problem is that nobody is trying to lure you away from your current extremely lucrative and stable job. If they were, it would be in your best interest to negotiate pay that is guaranteed, and a buyout if they choose to fire you. You’re giving up a good job where they won’t fire you for a new and uncertain job, why would you risk getting fired and having no money to show for it?
The CEO candidates hold all the cards, because they’ve already got a great job, you have to make your CEO position even better, and tying most of their pay to job performance isn’t going to make it better.
I think I may be of assistance. The “shit” was placed into the dead owl by placing shit in one’s mouth and blowing it up the ass of the owl.
The job of owl-ass-blower has been relegated to those members of the boards of directors who gave the CEO’s these obscene compensation packages.
Glad to Help,
Bubbadog
Practicing fake attorney who did not take “corporations”
Chillax dude. I’m just saying that everyone I know calls it bizass or bizorgs. Besides, pulling the “I art lawyer and thou art not” argument is pretty weak. Especially on this board. Every other doper seems to be a lawyer.
That fucking owl had it coming after what he did to his Tootsie Roll.
Nicely done.
The CEO who is credited for most of the mess at AIG is Martin Sullivan, who worked his way up through the corporate ranks. In his last year with AIG he made 14 million dollars, most of it in bonuses. Which cards did he hold, exactly, when AIG decided to promote him? Most of the money was board directed excess. The high pay levels are just part of being in the CEO club. Many of them are just corporate lifers, not some breed apart. If you are hiring Jesus to raise your company from the dead, that’s one thing. But in my opinion, as a holder of shares in some decent companies, is that many companies have become hostage to some sort of culture of privilege and entitlement in the boardroom. The deck is stacked by corporate boards made up of others who also hope to get rich by skimming the profits in an elaborate scheme of quid pro quo.
I’ve never done that.
Here’s an owl for you.