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Should Executive Pay Indeed Be Capped?
None of today's executives, as proven by the present crisis (housing, auto, financial, or otherwise) are capable of saving any company from distress. Their claim that they are responsible for millions of dollars is nothing more then a shameless self-serving justification to defraud investors.
Nowadays, any responsible but obscure college graduate can bring as much value to a company's leadership and bottom line as the brightest executive. Believe it or not, a decent college graduate is worth way more then a bright crooked executive; way, more in terms of shareholders' value and company performance, employee satisfaction, product development, company reputation advancement, and just plain decency and fairness.
Today's hoards of executives are just simple conspirators to defraud the shareholders of their assets, of the value created by the company they administer like their own fiefdom.
I believe, in the name of fairness, decency, and reasonableness, all executives pay should be directly correlated with their employees pay, in no way more then 10 times their least paid employee. In addition, no executive is worth more the US president.
To my opinion executive pay should also be capped at 75% of the US president's salary.
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The obscene executive compensation payments are major part of the problem, as it was exposed by this financial crisis as outright fraud.
Generally speaking, no executive is worth getting paid more then the ultimate CEO, the US president.
No one, no matter how clever or educated, should be allowed to rob their employees and shareholders as shamelessly as the executives do nowadays. The irony of it is, it's all done legally, under the regulators' watchful eye; highway robbery nevertheless. That needs to stop, in the name of fairness, and in order for the investor to regain confidence in our financial structure and business concept.
Since companies cannot do it themselves, Congress needs to cap executive compensation by law at about the US president's salary level, and index it for inflation. At the very least, executive pay maximums should be tied to a reasonable multiplier of their lowest paid employees’ compensation. If we don't want people to revolt against being robbed by the government too (read heavily taxed) in order to bail out these shameless executive thieves, and keep them doing more of the same, Congress needs to act now. Not until some sort of cap is implemented, we shall see abuses and excesses disappear.
Macro: How Bankrupt Financials Will Impact Connecticut, NJ [Housing Tracker]
I lately became a huge fan of capping executive payouts. Generally speaking, no executive worth getting paid more then the US president. No one, no matter how clever or educated, should be allowed to rob their employees and shareholders as shamelessly as the executives do nowadays. The irony of it is, it's all done legally, under the regulators' watchful eye; highway robbery nevertheless. That needs to stop, in the name of fairness, and in order for the investor to regain confidence in our financial structure and business concept.
Congress needs to cap executive compensation by law at about the US president's salary level, and index them for inflation. At the very least, executive pay should be tied to a reasonable multiplier of the average and/or lowest paid company employee. If we don't want people to revolt against being robbed by the government too (read heavily taxed) in order to bail out these shameless executive thieves, and keep them doing more of the same, Congress needs to act now. Not until some sort of cap is implemented, we shall see abuses and excesses disappear.
Oil Shocks, and What They Hold for the US Economy
Former Merck CEO Prods Industry on Drug Pricing
Profiteering based on people’s health-sickness and life-death matters are not just completely unacceptable and a total shame; it’s plain wrong. Yet, this is exactly what is going on. It is only a matter of time, until the society will turn against such profiteering and hopefully governments will follow suite. Today, seeing the deluge of medication ads (mostly for prescription drugs) on the TV is disturbing. Why hasn’t that been banned yet? All those loopholes need to be closed! Now! This is a huge sign that profiteering and not humanitarian reasons are driving the industry’s development; that has to change.