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01-30-2009, 07:34 PM
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GreekChat Member
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Join Date: May 2008
Location: In Mombasa, in a bar room drinking gin.
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Dumb idea. There are executives out there that are worth what they're being paid. If you enforce an artificially low salary and ban bonuses these companies are going to wind up in even worse shape because the talent at the top will leave to go to companies that don't have the restrictions (be it non-bailed out firms, foreign firms with major US presence, etc.). An exodus of management isn't going to help anyone.
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"I put my mama on her, she threw her in the air. My mama said son, that's a mother buckin' mare."
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01-30-2009, 07:42 PM
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GreekChat Member
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Join Date: Dec 2001
Posts: 12,783
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Quote:
Originally Posted by CrackerBarrel
Dumb idea. There are executives out there that are worth what they're being paid. If you enforce an artificially low salary and ban bonuses these companies are going to wind up in even worse shape because the talent at the top will leave to go to companies that don't have the restrictions (be it non-bailed out firms, foreign firms with major US presence, etc.). An exodus of management isn't going to help anyone.
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I agree with that.
The word "socialism" popped into my head when I first heard about this, and whether I am applying the word properly or not, that's what I thought.
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01-31-2009, 07:30 PM
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GreekChat Member
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Join Date: May 2007
Location: In a house.
Posts: 9,564
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Quote:
Originally Posted by CrackerBarrel
Dumb idea. There are executives out there that are worth what they're being paid. If you enforce an artificially low salary and ban bonuses these companies are going to wind up in even worse shape because the talent at the top will leave to go to companies that don't have the restrictions (be it non-bailed out firms, foreign firms with major US presence, etc.). An exodus of management isn't going to help anyone.
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Where are they gonna go when supposedly there are no jobs to be had?
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Law and Order: Gotham - “In the Criminal Justice System of Gotham City the people are represented by three separate, yet equally important groups. The police who investigate crime, the District Attorneys who prosecute the offenders, and the Batman. These are their stories.”
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01-31-2009, 07:37 PM
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GreekChat Member
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Join Date: May 2008
Location: In Mombasa, in a bar room drinking gin.
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Quote:
Originally Posted by DaemonSeid
Where are they gonna go when supposedly there are no jobs to be had?
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There are always jobs at the top if you're one of the best at what you do. If top talent at that level becomes available you do what it takes to get them, so while there may not be a whole lot of hunting for new young talent, if someone becomes available as a lateral hire and has good, proven credentials I guarantee you they won't be on the job market for long.
Another way to look at it: when firms want to save money in tough economic times they cut production and layoff at the bottom. When's the last time you heard of a company announce that in the interests of cutting cost they were eliminating their corporate governance positions?
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"I put my mama on her, she threw her in the air. My mama said son, that's a mother buckin' mare."
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01-31-2009, 07:41 PM
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GreekChat Member
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Join Date: May 2007
Location: In a house.
Posts: 9,564
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Quote:
Originally Posted by CrackerBarrel
There are always jobs at the top if you're one of the best at what you do. If top talent at that level becomes available you do what it takes to get them, so while there may not be a whole lot of hunting for new young talent, if someone becomes available as a lateral hire and has good, proven credentials I guarantee you they won't be on the job market for long.
Another way to look at it: when firms want to save money in tough economic times they cut production and layoff at the bottom. When's the last time you heard of a company announce that in the interests of cutting cost they were eliminating their corporate governance positions?
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Well don't be surprised when you start hearing this now.
__________________
Law and Order: Gotham - “In the Criminal Justice System of Gotham City the people are represented by three separate, yet equally important groups. The police who investigate crime, the District Attorneys who prosecute the offenders, and the Batman. These are their stories.”
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01-31-2009, 07:51 PM
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GreekChat Member
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Join Date: May 2008
Location: In Mombasa, in a bar room drinking gin.
Posts: 896
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Quote:
Originally Posted by DaemonSeid
Well don't be surprised when you start hearing this now.
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It'll be the same way it always been, you may some changes in who holds the positions as people are replaced if the company is struggling or top of the line talent becomes available, but as long as the company exists that's a pretty stable job market. There aren't more executive positions being created and there aren't executive positions being eliminated, its how corporations are structured and the only changes are which individuals hold which jobs. And if struggling companies are restricted to paying less, their top talent will be hired up at companies which are faring better. The proposed solution here would be about equivalent to a sports league assigning a salary cap to the worst teams in the league but letting the front runners keep on spending with a big budget. All that happens is the good talent which was on the struggling teams will be hired up at the teams which can pay them what they're worth.
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"I put my mama on her, she threw her in the air. My mama said son, that's a mother buckin' mare."
Last edited by CrackerBarrel; 01-31-2009 at 07:55 PM.
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01-31-2009, 07:55 PM
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Join Date: Dec 2007
Location: Potbelly's
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The $400,000 is fine as long as they are also payed with stock. This way the success of the company is tied to how much money they make.
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