Last week we wrote a post about golden parachutes and how they can impact public companies and shareholders. Now we want to know what you think.
Golden parachutes
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No one–not even Moses or the Prophets–is worth that kind of money. Those of us who make this society, and the factories, and the corporations run, and in addition serve in the military, in fire departments, and in police departments to protect our country, as well as those who teach the skills that citizens and voters and workers need so that these overpaid ladies and gentlemen can make that kind of money are not getting anything like what WE deserve. This is highly damaging to the fabric of our society, and cannot be sustained over the longrun. History proves this over and over.
If outsized executive compensation packages really "attract top talent", why are we in this economic situation? Possibly what they really attract are greedy, short-sighted, self-interested individuals who are not putting the long term health of their corporations, let alone the economy or the planet, first.
I think that if the rich get fired they ought to stand in the unemployment lines like anyone else, and wait for weeks befroe the get thier first unemployment check. they should not receive golden parachuets or any other compensation. they need to experience the life of the penniless unemployed
There is a "simple" solution to the excessive CEO pay. The original progressive income tax system went to over 90%.without all the loopholes that exist today. If we taxed all income over 1 million dollars @ 90% betcha the pay and golden parachute system would change, (They would, of course, find other ways to avoid taxes, but at least this would slow down the excesses at least temporarily.) You are right when you say, it ain't gonna happen. The real political solution is PUBLIC FINANCING – ANOTHER DIFFICULT ONE TO IMPLEMENT….BUT WE MUST TRY!
If we had more women in higher positions these crazy payouts would be harder to pass. I think women have a much more reality pulse. That's probably why there aren't as many on boards…..they're too common sense!
. It's plunder. No better way to describe it.
No person in a coorporation should get compensation more than 10 times that of any other if that means cutting the top executives pay or raising the janitors pay so be it.
Golden parachutes are okay, if just not nearly so golden.
Does any other employee have such a deal? No. I didn't think so.
These fat cats are already grossly overpaid for what they do.
No golden parachutes. No special deals. They have to take their chances just like any ordinary employee. Definitely NO REWARDS for failure.
The CEOs are using some of the small investment that I hjave made for their own personal gain. If they were paid what I made during my working years, I could understand it but they are paid too much already. They are not baseball players who must retire after playing a few years although baseball players are also paid way too much.
Before I would give a CEO or any Board of Director's member any kind of Golden Parachute, I would demand they bring manufacturing industries back to the United States and put our people to work.
To satisfy stock holders, has wrecked our economy. People without jobs cannot pay mortgages thus, loosing their homes.
Golden Parachutes and other Executive perks are un-needed for any Organasations. The only benefits Executives should recieve (all Management for that matter) are stock options. I am so tired of Upper Management recieving bonuses in Corporations by the use of Metrics wiether the Corporation makes money that Year or not. During the bank bailouts people recieved huge compensation for simply doing the job they were paid to while the tax dollars were saving thier companies.
No CEO's and several other 'ubber layers' of executive staffing are worth the X;s/%'s multiples of the 'regular' employees.
I've read the theories and arguments; however, having known many of thes folks in several nations and been intimate with their 'work' I say phooy.
If you just pay PROVEN executives a realistic amount – nothing over $ 250 K and demand real accountable statistically verifiable results then the playing field will tend tward sanity.
this would require SHAREHOLDER REVOLTS and TAKEOVERS. Work twards its manifestation!
Most people could live for the rest of their lives on the amount one CEO is given for only one year's work! there is no need for a golden parachute.
start taxing these payouts at about 90% or more. end tax loopholes and most importantly this country needs to ban private contributions to candidates, political parties and anything affliated with them. Elections must be publiclly financed to end corporate greed and corporate influence in the political realm. This greedy one percent would do well to remember the old saying, those who do not know history are doomed to repeat it. this country resembles france during the run up to the revolution of the 1790's. and we all know what happened to that one percent in that story.
Data proves that the average CEO adds no value whatsoever to a corporation. Anybody could do the same. Why reward mediocrity? Because the system is rigged. That has to stop.
There is no one worth that kind of money. And they obviously aren't worth it because the economy wouldn't be in the tank if they were. They should do a good job and work hard without outrageous salaries like the rest of us do. I don't think most of them even know what it is to really put in a hard days work. It is all perks,money and greed. Why should they care what happens when they will get their golden parachute anyway.
Just what you said Ray.
It's a waste to pay CEO's large salaries.
Pay for failure. Please start using the USPX Shareowner Guidelines For Say-On-Pay Voting. http://proxyexchange.org/2011/08/shareowner-guide… Use your voice as a shareowner. I've been using the Guidelines to vote my shares through MoxyVote, voting against just about all pay packages over the median. Compensation committees choose peers aspirationally and then pay above average. We don't live in Lake Woebegone. Everyone can't be "above average."
Women are one of our greatest assets. I have been happily married for 36 years. Women are also just as greedy as men once they get a taste of the big money! However I would like to see an end to the "good old boy" system. Anyone who makes over 1 million a year should be taxed at 90% for everything over 1 million.