Corporate America starts to get serious on pay

Corporate America starts to get serious on pay

www.msnbc.msn.com

By Rachel Beck
updated 2:54 p.m. CT, Sun., Feb. 1, 2009

NEW YORK - There's finally some good news on executive pay.

The public outcry over sky-high compensation appears to have shaken some corporate boardrooms enough that changes are being made to curb pay, redefine appropriate practices and give shareholders more influence over compensation.

Wall Street has been the target of criticism for paying executives exorbitant amounts, all while allowing them to take excessive risks. Those firms now have been forced to alter their pay practices by the government under the taxpayer-funded bailout.

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I know know about you all but the thought of these firms just stopping huge executive contracts and bonuses is a sham.

These guys are far to power hungry for the almighty dollar.

They, IMO, are just playing nice for the media and have gotten their PR firms on the case to shape up their images. They have to look like they are playing nice for when they ask for more $$$ in the next round of bailouts.

Do you honestly think that they haven't had closed door meetings on this and figured out how to shuffle cash to the top people, right under the noses of the watchdogs?

I just don't buy it. These guys will never change and one day in the future we'll be in another mess very similar to this one.



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(visit the link for the full news article)

BullS##t! I'll believe it when I see it! The only thing happening here is that they are constructing more clandestine and devious ways to make their bazillions while screwing the rest of us! May they all rot in hell!

I'm glad Democracy is finally working! I don't think they'll change right away but it's a start!

I'm not being partisan here or anything-- but what happened with Democracy over the Bush years?

It's like public opinion didn't matter or something.

[edit on 2-2-2009 by Frankidealist35]

I'm not so concerned about big pay/bonuses, as long as it's fair. If I make my company 1bn that year, then I feel I do deserve my 10m bonus.

My big problem comes with all these people who LOST their company 1bn, and they still get the 10m bonus. That is what is unacceptable to me, and should be unacceptable to shareholders/tax payers, whose pockets that unwarrented bonus will have to come from.

well, it is about darn time but i do not believe the greedy will let go of the green. corporate america sucks but, in all honesty, we as american citizens have let it go to far and talking about it now is a little bit late. i also think the sports industry needs to reconsider what is being paid to athletes because bottom line, we pay their salary at the gate.

[edit on 2-2-2009 by musselwhite]