Obama Caps Exec Bailout Pay

21 comments on this post so far. Add yours!

• 

  Kage_Mann on February 04 at 1:56 p.m.

  I applaud the president for this executive order.I remember,
  when Albertsons sold out to a larger grocery giant and the president and CEO of Albertsons received 100 million as severance etc.Seems kind of high to me especially,for a regional grocer.I don’t think Joe Albertson would be proud of what has happened to his stores.

• 

  toadman on February 04 at 2:14 p.m.

  I support this move, though I think it could have been capped at $250k. Still, I suppose half a mil isn’t as much as it used to be…

  Maybe cap it at $500k and make sure they’re up against the wall along with all the lawyers, when the revolution comes, you know?

• 

  Bent on February 04 at 2:45 p.m.

  Come on Toad $250K?

  Have you ever tried to live on a half million a year? That’s only $19,000 every two weeks…

  /shudder

  Now you want them to get by on $9,600 every two weeks? How in the world are they ever going make that stretch in these difficult times?

• 

  Bigguy on February 04 at 2:51 p.m.

  Why not cap it at Obama’s salary as president ($400,000 per year)?

• 

  Me on February 04 at 6:24 p.m.

  I have mixed emotions - while I do think the pay, perks etc are way too much, what will the government dictate next? On the other hand these companies held thier hands out and received our money (or the money of our children or childrens children) so this is part of the deal.

  Actually - I am STILL completely against the bailouts should have never happened.

• 

  JamesBond on February 04 at 8:04 p.m.

  I do not believe the government has any business dictating salaries. I do believe that boards of directors of publicly held corporations have a high duty to protect their shareholders, and I think we need to encourage those boards in the strongest possible way to stop this spiraling surge in compensation for their executives. They argue that the “market” requires these pay packages, which means since other corporations are doing it, they have to do it. It needs to end. The pay packages are way beyond reason. We are talking hundreds of millions of dollars at a pop. There is no logic to this, other than some other corporation is doing it, and if we don’t do it, we’ll lose these executives to that other company. I do not think Obama’s move is economically sound at all, but I do think there are other and much better ways to address this issue.

• 

  Bob on February 04 at 8:14 p.m.

  Well, as much I as admire the true believers in naked unabridged free market capitalism, I’m not so sure history has any examples of free market downward and reductive pressures on CEO salaries. Au contraire. These corpulent and grimy greedpigs slop their ugly swinish faces even more deeply in the trough as the farm burns down around them.

  Obama so rocks.

• 

  Bigguy on February 04 at 8:50 p.m.

  Bob:

  Your eloquence knows no bounds. You have outdone yourself once again. You have no peers and only compete with yourself in the world of great prose. (In other words, well said).

• 

  Nick_Adams on February 04 at 9:05 p.m.

  Bob’s right on. Not only does Obama so rock, but I’d challenge anyone to provide proof that the market could/would ever make the adjustments necessary.

  Less than 48 hours ago, Wells Fargo was considering a mega retreat to Vegas. Now the trip is off. So much for Boards of Directors or just plain market forces. It took a bright, shining light on those cockroaches.

  Pro-Wall Streeter Zuckerman was on CNN today crying about how a mere $500,000 salary would chase these execs from banking. I’m looking forward to the press releases announcing the departures.

• 

  JIMMYMAC on February 04 at 11:01 p.m.

  Nick,
  Except it wasn’t an executive retreat. It was for the top producers in the country-oeople that don’t even have an hourly wage or set salary. Wells Fargo asked the treasury to NOT receive TARP money and the treasury said they did not care-that they had to take it to ensure consumer confidence. And to this day, WFC is the ONLY company to repay a dividend to the feds-$371M this week. Finally, the money was spent on the trip by the company before any TARP money was introduced.

• 

  wheels on February 05 at 9:35 a.m.

  I’m with James Bond on this one.There are some classic examples of Boards of Directors drastically overcompensating CEO’s for their performance right here in CDA while caring little about ‘shareholder value’ because of the perks they receive.Nationwide problem easily solved by eliminating lavish perks.

• 

  LukeB on February 05 at 3:06 p.m.

  These companies should be happy they still retain their corporate charters and haven’t been nationalized.

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