Obama Orders $500,000 Limit on Executive Pay

I think that presidential order falls short of my expectation: The $500,000 limit on executive pay is still too high AND those executives who got their bonuses from 2008 should return that to the taxpayers as well.

reply to post by pikypiky


Agreed. Maybe another idea would be to limit their ability to lobby! Have you guys seen this calamity?

www.abovetopsecret.com...

reply to post by TrueAmerican


Lobbying

Lobbying is the practice of influencing decisions made by government.

It too must be eliminated due to what appears to be undue influence.

Virtually any act of persuasion that over-comes the free will and judgment of another, including exhortations, importunings, insinuations, flattery, trickery, and deception, may amount to undue influence. Undue influence differs from duress, which consists of the intentional use of force, or threat of force, to coerce another into a grossly unfair transaction. Blackmail, Extortion, bad faith threats of criminal prosecution, and oppressive Abuse of Process are classic examples of duress.

Based on other concerned thoughts, I feel that the bailout money should really help the American citizens, thereby allowing them just enough to get by and pay down their debt, keep their homes, etc...



[edit on 2009-2-05 by pikypiky]

Originally posted by TrueAmerican


It's fitting. If they are going to receive bailout money, they ought to restrict it further than that, imo. Because the fact is, decisions at the executive level caused their own demise. $100, 000 would be more like it, considering the alternative of complete failure.

Any additional compensation will be in restricted stock that won’t vest until taxpayers have been paid back, said the official, who requested anonymity.

Also a good move.

But what I want to see is some kind of legislation that limits company relocation of jobs and outsourcing of labor internationally. Bring the jobs back home, or get out.



www.dailypaul.com
(visit the link for the full news article)

The only problem with that is that it's really tough to live in NY on 100k.


What a lot of people are also forgetting ,is that there is no limit on compensation from stocks, which means the CEO's comp package will be highly based on performance, not effort.

I'm all for that!

Originally posted by HunkaHunka
The only problem with that is that it's really tough to live in NY on 100k.

This is an interesting point, I wonder if there's any consideration for cost of living...or are all the CEO's going to live in Wyoming?

Originally posted by HunkaHunka
What a lot of people are also forgetting ,is that there is no limit on compensation from stocks, which means the CEO's comp package will be highly based on performance, not effort.

I'm all for that!

Either performance or how they doctor their books and fluff their shareholders.

[edit on 5-2-2009 by saint4God]

This is an outsanding idea Cap the greedy selfish salarys... but at $500,000? I dind't know they can make that much in congress? I mean, suppose some make $300,000 or $400,000 a year anyway....waht good is the $500,000 cap then?