| Posted By |
Message |
| Pages: [1] 2 |
julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
|
Obama wants to impose a $500,000 pay cap on executives
WASHINGTON – President Barack Obama wants to impose a $500,000 pay cap on executives whose firms receive government financial rescue funds, a dramatic intervention into corporate governance in the midst of financial crisis.
The new restrictions, described by an administration official familiar with the new rules, are to be announced Wednesday morning at the White House. The steps set the stage for the administration's unveiling next week of a new framework for spending the money that remains in the $700 billion financial rescue fund.
"If the taxpayers are helping you, then you've got certain responsibilities to not be living high on the hog," President Barack Obama said Tuesday.
http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay
i can't agreed more 
Message edited 2/4/2009 9:58:45 AM.
|
Posted 2/4/09 9:57 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Obama wants to impose a $500,000 pay cap on executives
ETA - NM, misread the quote.
Message edited 2/4/2009 10:01:35 AM.
|
| Posted 2/4/09 10:01 AM |
| |
|
Shelleybean11
Mommy of 2!
Member since 12/08 11013 total posts
Name:
|
Re: Obama wants to impose a $500,000 pay cap on executives
|
| Posted 2/4/09 10:01 AM |
| |
|
Michi
My Love
Member since 5/05 31600 total posts
Name:
M
|
Re: Obama wants to impose a $500,000 pay cap on executives
I totally agree.
|
| Posted 2/4/09 10:02 AM |
| |
|
Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
|
Re: Obama wants to impose a $500,000 pay cap on executives
normally I wouldn't agree with this.
and if it was across the board, I CERTAINLY wouldn't.
but as it stands, limited to the captains that have already let their ships run aground, I have no issue trading their life yatch for a life boat.
|
| Posted 2/4/09 10:05 AM |
| |
|
anonttcer
BOOOO for fall!
Member since 7/06 10082 total posts
Name:
Meaning a NON ttcer!
|
Re: Obama wants to impose a $500,000 pay cap on executives
I hope to God they can make this happen!! It's about freakin' time!
|
| Posted 2/4/09 10:06 AM |
| |
|
MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
|
Re: Obama wants to impose a $500,000 pay cap on executives
That's fantastic...if your company is in financial crisis---why should you receive million of dollars in salary!!
|
| Posted 2/4/09 10:07 AM |
| |
|
Tulips915
................
Member since 8/08 6851 total posts
Name:
Me
|
Re: Obama wants to impose a $500,000 pay cap on executives
Good!!!!!!
|
| Posted 2/4/09 10:09 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Obama wants to impose a $500,000 pay cap on executives
general statement with a general number. I think this will change.
You will see executives fleeing the industry.
I know some don't care and say good, but a lot of these folks are really good at what they do and deal with a very high level of stress. The jobs are 100000% results oriented and they have to answer to shareholders.
They work 24/7.
Again, some may not care and say good, that's exactly what should happen and I think they are partially right. Frankly, there are some executives that should be out of a job.
I just think the number is low and too general.
|
| Posted 2/4/09 10:13 AM |
| |
|
GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Ophelia
normally I wouldn't agree with this.
and if it was across the board, I CERTAINLY wouldn't.
but as it stands, limited to the captains that have already let their ships run aground, I have no issue trading their life yatch for a life boat.
Ditto. When I read the headline I was furious but then reading the article, it definitely makes sense!
|
| Posted 2/4/09 10:23 AM |
| |
|
Linda1003
love my 2 boys
Member since 8/08 10923 total posts
Name:
Linda
|
Re: Obama wants to impose a $500,000 pay cap on executives
It makes sense as long as it stays the way it is now. Only to the industries that received tax payer money. I fear that this is the start of something to come though. 
|
| Posted 2/4/09 10:25 AM |
| |
|
MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Ophelia
normally I wouldn't agree with this.
and if it was across the board, I CERTAINLY wouldn't.
but as it stands, limited to the captains that have already let their ships run aground, I have no issue trading their life yatch for a life boat.
ITA. My first reaction was not in favor, until I read/heard the details.
I think if taxpayers are bailing people out, they need to watch them.
|
| Posted 2/4/09 10:27 AM |
| |
|
HeathKernandez
Our Ron is an awesome Ron
Member since 4/07 9091 total posts
Name:
baby fish mouth
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Blu-ize
general statement with a general number. I think this will change.
You will see executives fleeing the industry.
I know some don't care and say good, but a lot of these folks are really good at what they do and deal with a very high level of stress. The jobs are 100000% results oriented and they have to answer to shareholders.
They work 24/7.
Again, some may not care and say good, that's exactly what should happen and I think they are partially right. Frankly, there are some executives that should be out of a job.
I just think the number is low and too general.
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
|
| Posted 2/4/09 10:30 AM |
| |
|
RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
|
Re: Obama wants to impose a $500,000 pay cap on executives
I absolutely agree with this 100%
|
| Posted 2/4/09 10:31 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by KeithHernandez
Posted by Blu-ize
general statement with a general number. I think this will change.
You will see executives fleeing the industry.
I know some don't care and say good, but a lot of these folks are really good at what they do and deal with a very high level of stress. The jobs are 100000% results oriented and they have to answer to shareholders.
They work 24/7.
Again, some may not care and say good, that's exactly what should happen and I think they are partially right. Frankly, there are some executives that should be out of a job.
I just think the number is low and too general.
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
I read it right. I think it's still too general.
|
| Posted 2/4/09 10:32 AM |
| |
|
CathyB
Member since 5/05 19403 total posts
Name:
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by KeithHernandez
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
But what she's saying is that nobody is going to want to stay at these banks and they will just move to another industry. Then the bank boards will be hard-pressed to find people who are qualified to run these large banks for only $500,000. Top executives at big non-profits make 7+ figures. While I can understand the sentiment, it's just not the way to fix the industry, IMO.
|
| Posted 2/4/09 10:35 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by CathyB
Posted by KeithHernandez
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
But what she's saying is that nobody is going to want to stay at these banks and they will just move to another industry. Then the bank boards will be hard-pressed to find people who are qualified to run these large banks for only $500,000. Top executives at big non-profits make 7+ figures. While I can understand the sentiment, it's just not the way to fix the industry, IMO.
yes, exactly. I couldn't get that out.
|
| Posted 2/4/09 10:36 AM |
| |
|
4PsInaPod
My Loves <3
Member since 7/07 10079 total posts
Name:
D
|
Re: Obama wants to impose a $500,000 pay cap on executives
I totally agree with this
|
| Posted 2/4/09 10:41 AM |
| |
|
Shelly
She's 7!!!
Member since 8/05 14624 total posts
Name:
|
Re: Obama wants to impose a $500,000 pay cap on executives
I agree with this. I'm sorry, you ran your business to the ground to the point that the PUBLIC, who is struggling in their own right, has to bail them out.
$500K is a huge salary to many people.
And frankly, the greed of these people is what got them into this situation in the first place. If they can accept public money, let them accept the lower salary.
I'm sure someone on the ladder would love to have that job- if not for the money, then for the resume!
Message edited 2/4/2009 11:16:35 AM.
|
| Posted 2/4/09 10:52 AM |
| |
|
Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Blu-ize
Posted by CathyB
Posted by KeithHernandez
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
But what she's saying is that nobody is going to want to stay at these banks and they will just move to another industry. Then the bank boards will be hard-pressed to find people who are qualified to run these large banks for only $500,000. Top executives at big non-profits make 7+ figures. While I can understand the sentiment, it's just not the way to fix the industry, IMO.
yes, exactly. I couldn't get that out.
I don't think the idea with the is to "fix" the industry.
it's simply to STOP the bleeding...and we have seen in recent months how much these execs care for the money the tax payers are given.
they are laying off people LEFT and RIGHT. it is UNCONSCIONABLE that companies bleeding money and jobs are still paying EXHORBITANT salaries.
you are right Susan...these execs are paid to do what they do...but they should be held to a standard of doing it WELL. they are partly (not wholly, partly) to blame for this mess and just as they are WELL taken care of in times of feast, they should be proportionally paid in times of famine.
I don't think we can say that ANYONE heading these companies has earned multimillion dollar paychecks. so I think the "punishment" here fits the crime.
Message edited 2/4/2009 10:54:09 AM.
|
| Posted 2/4/09 10:53 AM |
| |
|
HeathKernandez
Our Ron is an awesome Ron
Member since 4/07 9091 total posts
Name:
baby fish mouth
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Blu-ize
Posted by CathyB
Posted by KeithHernandez
I think you misread it. This applies to executives whose companies received government assistance... not EVERY executive.
But what she's saying is that nobody is going to want to stay at these banks and they will just move to another industry. Then the bank boards will be hard-pressed to find people who are qualified to run these large banks for only $500,000. Top executives at big non-profits make 7+ figures. While I can understand the sentiment, it's just not the way to fix the industry, IMO.
yes, exactly. I couldn't get that out.
oh, I hear you.
|
| Posted 2/4/09 10:53 AM |
| |
|
anonttcer
BOOOO for fall!
Member since 7/06 10082 total posts
Name:
Meaning a NON ttcer!
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Shelly
I agree with this. I'm sorry, you ran your business to the ground to the point that the PUBLIC, who is struggling in their own right, has to bail them out.
$500K is a huge salary to many people.
And frankly, the greed of these people is what got them into this situation in the first place. If they can accept public money, let them accept the lower salary.
I'm sure someone on the latter would love to have that job- if not for the money, then for the resume!
VERY well put!!
|
| Posted 2/4/09 10:57 AM |
| |
|
Milerose
MY BABY!
Member since 9/06 4161 total posts
Name:
R
|
Re: Obama wants to impose a $500,000 pay cap on executives
I work in this industry and I completely agree with what Oboma is proposing. These executives make way too much money and trust me when i tell you that they live a very posh lifestyle. I mean the most fancy resturants, ridiculously expensive outings, etc. They basically burn through money.
I would love to see them get a set salary for $500,000.
|
| Posted 2/4/09 11:05 AM |
| |
|
freshstuff
I would do me
Member since 5/08 1188 total posts
Name:
Michelle
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Ophelia
normally I wouldn't agree with this.
and if it was across the board, I CERTAINLY wouldn't.
but as it stands, limited to the captains that have already let their ships run aground, I have no issue trading their life yatch for a life boat.
totally agree
|
| Posted 2/4/09 11:14 AM |
| |
|
JP826
=)
Member since 9/06 10903 total posts
Name:
Me!! All about ME!
|
Re: Obama wants to impose a $500,000 pay cap on executives
Posted by Blu-ize
general statement with a general number. I think this will change.
You will see executives fleeing the industry.
I know some don't care and say good, but a lot of these folks are really good at what they do and deal with a very high level of stress. The jobs are 100000% results oriented and they have to answer to shareholders.
They work 24/7.
Again, some may not care and say good, that's exactly what should happen and I think they are partially right. Frankly, there are some executives that should be out of a job.
I just think the number is low and too general.
Good.. Let them flee the industry. I'm sure someone who has a family to support & is currently out of work will be more than willing to take on those responsibilites with a paycut anyday.
|
| Posted 2/4/09 11:24 AM |
| |
|
| Pages: [1] 2 |
