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(Reuters)   The limits on executive pay Obama announced yesterday have already saved taxpayers $10 billion   (uk.reuters.com) divider line 137
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5558 clicks; posted to Politics » on 05 Feb 2009 at 1:33 PM (5 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2009-02-05 04:03:29 PM  
DamnYankees: lunchinlewis: DamnYankees: Please explain why there is no lack of incentive or competition in the professional sports with salary caps (which I believe is all except baseball).

Non-guaranteed bonus incentives in player contracts.

I don't believe those exist in basketball or football. And I know they don't exist in baseball (for individual stats, I believe).


Technically they exist in this executive order Obama issued.

Compensation is limited to 500k/year, but the executives can still be paid in company stock. The caveat is that they cannot cash them in until the federal money has been paid back.

Makes perfect sense to me. If your company does well then your stock options are going to be worth millions.
 
2009-02-05 04:05:19 PM  
Shryke: dave2198: Epiphany: Meanwhile, the Stimulus Bill the Demoncrats are trying to pass (with 270+ mill for movie studio film, and 75 mill for anti-smoking campaigns) will cost our grandchildren 900 billion dollars for the rest of their lives!

COOL!

75 million for anti-smoking measures is NOTHING. Do you have ANY IDEA how much you and I are paying to take care of sick smokers every year?

Come back when you know how the world works.

Thanks, bye.

Because anti-smoking TV ads are so effective at helping people quit. And preventing kids from trying cigarettes.

Your world works kinda funky, but I like it. 75 million dollars is nothing (I mean NOTHING), and everyone pays attentions to TV ads.


Don't put words in my mouth. That would be awesome. Thanks.

Like I said before, the solution to the economy is not to canibilize every other project we have in progress.
 
2009-02-05 04:05:48 PM  
Rapmaster2000: But now the banks will lose their top talent! Where will the board find someone they can pay a paltry $500k a year to run their firm into the ground?

Besides the Ivy League.


My email is in the profile.
 
2009-02-05 04:06:39 PM  
ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.



Its only for companies that are taking govt handouts.
Quit being such a drama queen.
 
2009-02-05 04:07:38 PM  
They want to avoid limits, so instead of begging for government money, they beg for money differently by issuing some slightly different flavor of stock.

For this, their stock goes up 7.4% to $88.94?

This (in addition to lacking the driving ambition and possible ruthlessness) is why I'm not rich. I'm also not sufficiently insane to understand the stock market.
 
2009-02-05 04:08:00 PM  
dave2198: Epiphany: dave2198: Epiphany: Meanwhile, the Stimulus Bill the Demoncrats are trying to pass (with 270+ mill for movie studio film, and 75 mill for anti-smoking campaigns) will cost our grandchildren 900 billion dollars for the rest of their lives!

COOL!

75 million for anti-smoking measures is NOTHING. Do you have ANY IDEA how much you and I are paying to take care of sick smokers every year?

Come back when you know how the world works.

Thanks, bye.

Do you have ANY IDEA how much money the government makes on tobacco taxes? Do you have ANY IDEA how horrible our economy is right now, and that maybe we shouldn't spend 75 million dollars on shiat that has NOTHING to do with helping the public? It only helps anti-smokers feel better. Smokers will smoke regardless, get the fark over it.

Come back when you realize how the REAL world works.

lol... So I guess we should end every other project in the whole country because our economy is in bad shape? Seriously?

So when the economy is fixed, and the progress we have made in all other aspects of our society has been halted or reversed, we can start from nothing on every other issue, all over again?

The solution to the problem is not to cannibilize the rest of our priorities.

Also, ending smoking does help the public, in a pretty basic way.


1.)The Stimulus bill is to help the economy recover, not push bullshiat liberal agendas that have nothing to do with public safety.

2.) How does stopping people from smoking help the economy? It hurts it, by making people smoke less, thus losing tax money from those smokers.
 
2009-02-05 04:11:52 PM  
Epiphany:
2.) How does stopping people from smoking help the economy? It hurts it, by making people smoke less, thus losing tax money from those smokers.

I suppose this is the first time we've had a bill that does more then the one thing it's named for?
 
2009-02-05 04:14:31 PM  
Epiphany:
1.)The Stimulus bill is to help the economy recover, not push bullshiat liberal agendas that have nothing to do with public safety.


But if it can do both isn't that in the best interest of everyone?

2.) How does stopping people from smoking help the economy? It hurts it, by making people smoke less, thus losing tax money from those smokers.

The solution is obviously to legalize it mon!
 
2009-02-05 04:15:04 PM  
ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.


Wait, so to avoid Obama's socialist policies, all the smart, greedy capitalists are going to move to China?
 
2009-02-05 04:15:54 PM  
dave2198: Shryke: dave2198: Epiphany: Meanwhile, the Stimulus Bill the Demoncrats are trying to pass (with 270+ mill for movie studio film, and 75 mill for anti-smoking campaigns) will cost our grandchildren 900 billion dollars for the rest of their lives!

COOL!

75 million for anti-smoking measures is NOTHING. Do you have ANY IDEA how much you and I are paying to take care of sick smokers every year?

Come back when you know how the world works.

Thanks, bye.

Because anti-smoking TV ads are so effective at helping people quit. And preventing kids from trying cigarettes.

Your world works kinda funky, but I like it. 75 million dollars is nothing (I mean NOTHING), and everyone pays attentions to TV ads.

Don't put words in my mouth. That would be awesome. Thanks.

Like I said before, the solution to the economy is not to canibilize every other project we have in progress.


Nor should anyone defend or minimize pointless and obvious frivolities such as 75 million dollar ad campaigns.

You see, the first step in getting a bill passed through congress QUICKLY is to avoid STUFFING IT WITH SUCH OBVIOUS SHIAT IT WOULD CHOKE A WHALE. I learned that in my "Politics for the Brain Dead" class.

But, hey, maybe I am wrong and the bill will pass as is.
 
2009-02-05 04:16:44 PM  
I'm not reading all the replies.

I just stopped in to say that the companies taking bailout money should also be banned from making political contributions.

That is all.
 
2009-02-05 04:20:31 PM  
ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.


Fark 'em. They can have the CEOs who are poster children for financial meltdown. Make room for more scientists and engineers here. Maybe they'll crash China's economy harder, next.
 
2009-02-05 04:35:39 PM  
ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.


Any successful CEO would be making money for his or her company and thus wouldn't need corporate welfare so they wouldn't fall under this salary cap.

China is welcome to our unsuccessful ones that feel they are entitled to golden parachutes provided by our taxes.
 
2009-02-05 04:47:17 PM  
ZachF81: Congratulations, the brain drain has begun.

Don't let the door hit your ass on the way out!
 
2009-02-05 04:58:33 PM  
ZachF81: I'm sure China would just LOVE to pay these guys triple that.

If China wants these jokers, let 'em have 'em. It's a double win for us:

1. We get rid of failed CEOs.
2. We get to laugh at said failed CEOs now living in a third world country.
 
2009-02-05 05:08:10 PM  
Sum Dum Gai: ZachF81: I'm sure China would just LOVE to pay these guys triple that.

If China wants these jokers, let 'em have 'em. It's a double win for us:

1. We get rid of failed CEOs.
2. We get to laugh at said failed CEOs now living in a third world country.


3. China IIRC takes a negative view of the kind of shenanigans that run companies into the ground. I hope they wouldn't lose their heads when they got no bonus/golden parachutes from their new Chinese companies.
 
2009-02-05 05:16:01 PM  
namegoeshere: China IIRC takes a negative view of the kind of shenanigans that run companies into the ground. I hope they wouldn't lose their heads when they got no bonus/golden parachutes from their new Chinese companies.

---

Didn't the guy responsible for the lead toy fiasco off himself immediately?

We could use some of that accountability over here. Maybe not that much, but some.
 
2009-02-05 05:29:33 PM  
CaptMacMillian: Epiphany:
1.)The Stimulus bill is to help the economy recover, not push bullshiat liberal agendas that have nothing to do with public safety.

But if it can do both isn't that in the best interest of everyone?

2.) How does stopping people from smoking help the economy? It hurts it, by making people smoke less, thus losing tax money from those smokers.

The solution is obviously to legalize it mon!


If the purpose of this bill was a normal purpose, I could see how you could be for including the anti-smoking, regardless of whether or not I agree with it. Yet, the sole purpose of this bill is to stimulate the economy because we are in dire need of it. Not push agendas that will hurt country financially.

I would say the solution would be to legalize it. That would increase the amount of taxes the government brings in by a farkton. Yet, if they are trying to stop ciggs, they will never allow weed.

headslap: Epiphany:
2.) How does stopping people from smoking help the economy? It hurts it, by making people smoke less, thus losing tax money from those smokers.

I suppose this is the first time we've had a bill that does more then the one thing it's named for?


This isn't a normal bill. This is an emergency stimulas package, the specific goal being to bring in save our asses economically. Not for some random bullshiat like movie film or anti-smoking campaigns.
 
2009-02-05 05:33:57 PM  
Only 990 billion to go!
 
2009-02-05 05:41:23 PM  
Yankees Team Gynecologist: namegoeshere: China IIRC takes a negative view of the kind of shenanigans that run companies into the ground. I hope they wouldn't lose their heads when they got no bonus/golden parachutes from their new Chinese companies.

---

Didn't the guy responsible for the lead toy fiasco off himself immediately?

We could use some of that accountability over here. Maybe not that much, but some.


It would only take one or two to set the example...

/It's probably a really good thing I don't believe in hell.
 
2009-02-05 05:43:37 PM  
lunchinlewis: DamnYankees: Well, isn't the argument that if we cap salaries there will be no incentive to have that job? That was the whole "no one will want to work for them" thing, isn't it?

Maybe some people are making that, but I don't really think about like that. If there had been better restrictions drawn up in the beginning, we would not have these revisions going on, where they make a company offload its private jet for cap salaries. It's scary to think how much of that first wave of TARP money got wasted.

If they wanted to cap salaries at some arbitrary round number, they should have told the banks that in the first place.


I thought the issue was the bonuses (given out at the end of the year--after the first wave of TARP money), as opposed to salaries.
 
2009-02-05 05:59:39 PM  
mrtoadswildride: Hooray....except that we spend like $50-75 billion/year in stupid Pork projects, $27 Billion on illegal immigrants, countless billion to bail out loan to the auto industry, but awesome....capping executive salaries is awesome; the dow should be back up to 14,000 by next friday.

This sends a clear message...Barack will tell you how much you're worth...(though in an interesting role reversal it's now the black man keeping the white from earning some benjamins...huh)

I understand the thought..I really do, these executive bonuses are ridiculous in the wake of Billion dollar loses...but this doesn't really solve anything; it doesn't address the issues, it's pandering to the masses...right before he hands them Billions in free money (man this guy is good...you know who else was good at stirring up the masses?)

/just a heads up to Jews...watch your back if this thing goes belly up he could be looking for a scape goat


9/10. You got extra bonus points for mentioning "benjamins" in a godwin thread, as well as taking the opportunity to demonize immigrants by pretending they cost us 27 billion a year. That's THREE narrow-minded prejuidiced opinions in one troll. Kudos!
 
2009-02-05 06:06:03 PM  
SouthernManDunWrong: That is $10,000,000,000 that is not a taxable income.

Which in turn, contributes at least $6,000,000,000 to feds, state and NYC.

suck it libs for shooting yourself in the feet.


Could you please post the original GOP talking point in its entirety? Your parroted version, while entertaining, does lack a certain degree of clarity (due, no doubt, to your ambiguous relationship with reality).
 
2009-02-05 07:00:14 PM  
trippdogg: SouthernManDunWrong: That is $10,000,000,000 that is not a taxable income.

Which in turn, contributes at least $6,000,000,000 to feds, state and NYC.

suck it libs for shooting yourself in the feet.

Could you please post the original GOP talking point in its entirety? Your parroted version, while entertaining, does lack a certain degree of clarity (due, no doubt, to your ambiguous relationship with reality).


I frequent conservative news sites and I haven't seen any op-eds or articles against this legislation on them. The few I've read have been in favor of it. Granted I don't read Free Republic so maybe it's there? HotAir has had op-eds praising McCaskill for this bill.

My point being that this guy you're arguing with appears to be getting his "talking points" straight from his nether regions.

/independent conservative
 
2009-02-05 07:34:40 PM  
headslap: ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.


Chinese culture values collective good over individual greed. The personality traits of many American CEOs would make them pretty unwelcome over there. Unless of course they're bringing money to spend, and then leave.
 
2009-02-05 08:04:18 PM  
chadm: headslap: ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.

Chinese culture values collective good over individual greed. The personality traits of many American CEOs would make them pretty unwelcome over there. Unless of course they're bringing money to spend, and then leave.


Yeah, I don't understand the whole idea of a CEO packing his bags and saying "I'm sick of all this socialism in America, I'm moving to Communist China! Those guys won't mind paying me an obscene salary to bankrupt a company.

/Then again, if we don't give CEOs billions in tax money, who will buy $15,000 umbrella stands? Won't somebody please think of the manufacturers of $15,000 umbrella stands?
 
2009-02-05 09:04:19 PM  
chadm: headslap: ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.

Chinese culture values collective good over individual greed. The personality traits of many American CEOs would make them pretty unwelcome over there. Unless of course they're bringing money to spend, and then leave.


While this is true in the publications of the party, party bosses still behave roughly the same way CEOs and private industry captains do in the US. That is, they vary from tirelessly competent servants of the department/company's success to fat, greedy bastards stealing millions from the citizens/stockholders to fund irrationally lavish lifestyles.

But yeah, you're right, an american immigrant would have a lot of trouble becoming a party official, if that's what you mean.
 
2009-02-05 10:20:58 PM  
helix400: After reading the article, I get the impression that:

* Goldman Sachs wants to repay the $10 billion because of original limitations put on CEOs from the 2008 TARP rules.
* Obama's plan makes it even tighter, and could persuade them to repay it off even faster.
* The $10 billion was going to be paid back regardless, because that was the terms of the TARP bailout. (i.e. a loan, not free money).


yep.

obama really had little to do with this, seeing as how his "limitations" weren't retroactive, and goldman wouldn't have been subject to these ceo salary caps

i'm more amused how goldman's stock increased on the news. now, if only fannie and freddie could pay back their loans... i'd buy that stock
 
2009-02-05 11:09:17 PM  
My understanding was that with the initial 'bailouts' that they were basically forcing all the big names to take them. That way it wasn't too obvious which banks were in the worst shape. If there's 6 banks and only 4 take bailout money then everyone is pulling their money out of those 4 basically making them even more insolvent than they were. I'm not saying I agree that it should've been handled that way, just saying I thought that's what the plan was.
 
2009-02-05 11:11:52 PM  
I'll gladly take one of those $500k positions off their hands.
10x what I make now, stock options (which I don't get in public service), and still the allowance of perks. I'm ready to move to the private sector, who is vacating? I'd love to send a resume.
 
2009-02-05 11:18:16 PM  
Obama promises...they promise....It ain't money in the bank until it's money IN THE BANK!
 
2009-02-06 12:23:15 AM  
Carly is pretty much universally despised at HP. Although, I do agree with her, CEOs and upper management should be held accountable. They and their families should be shot and all their trust money taken from them. Apology accepted.
 
2009-02-06 05:02:30 AM  
We should sacrifice a couple of liters to Obama so he could be appeased.
 
2009-02-06 05:41:43 AM  
Maybe this will illustrate to people why America was the richest country in the world for decades yet its such a squalid shiathole inhabited by poor people.
 
2009-02-06 03:03:31 PM  
adamgreeney: I think the only people that will be bothered enough by this cap and won't want the jobs are the good ole' boys that get their jobs through nepotism and favors. They got in to steal as much money as possible. We don't need them, we need bright, creative young smart and talented people taking the jobs that actually care about succeeding and creating a legacy.

/FTFY
 
2009-02-06 05:17:59 PM  
SouthernManDunWrong: That is $10,000,000,000 that is not a taxable income.

Which in turn, contributes at least $6,000,000,000 to feds, state and NYC.

suck it libs for shooting yourself in the feet.


Because, obviously, the feds should spend $10,000,000,000 to make $6,000,000,000, right?

That's the kind of stunning business sense that has built our economy into the powerhouse it is today.
 
2009-02-08 03:35:43 AM  
chadm: headslap: ZachF81: I'm sure China would just LOVE to pay these guys triple that. Any successful CEO (well.. all what, 4 or 5 of them?) that has the choice will probably be heading that way soon.

Congratulations, the brain drain has begun.

Chinese culture values collective good over individual greed. The personality traits of many American CEOs would make them pretty unwelcome over there. Unless of course they're bringing money to spend, and then leave.


Hey, dont quote ME on that. I said he was being a drama queen!
 
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