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Yeah baby!
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Topic Started: Feb 4 2009, 11:27 AM (309 Views)
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dumblonde
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Feb 4 2009, 11:27 AM
Post #1
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http://www.reuters.com/article/ousiv/idUSTRE5125P420090204
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Obama sets $500,000 CEO cap for bailed-out firms Wed Feb 4, 2009 11:25am EST WASHINGTON (Reuters) - President Barack Obama took steps to rein in corporate compensation on Wednesday, imposing a $500,000 cap on executive pay for firms that take government bailout money and limiting lavish severance packages.
"As part of the reforms we are announcing today, top executives at firms receiving extraordinary help from U.S. taxpayers will have their compensation capped at $500,000 -- a fraction of the salaries that have been reported recently," Obama said in prepared remarks.
Obama, who has sharply criticized Wall Street chiefs for accepting billions of dollars in bonuses last year while the economy fizzled, demanded that firms seeking federal help must not be "up to the same old tricks" and said he would not tolerate massive compensation packages in the midst of the economic crisis.
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Gringa
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Feb 4 2009, 11:30 AM
Post #2
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That's WAY too much...... wow, you make decisions that tank your company and you STILL get a cool half mil..... now that is sweet.
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Mtnman
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Feb 4 2009, 11:32 AM
Post #3
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I am in the process of tanking mine,, so I can collect.......
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dumblonde
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Feb 4 2009, 11:35 AM
Post #4
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Considering that up until now these yahoos have been collecting millions....I'll take it. What do you want to bet that they start wailing about onerous restrictions?
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Gringa
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Feb 4 2009, 11:37 AM
Post #5
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They will find a way around it....... trips, woning, dining, gifts..... don't worry, they will still get their bil
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dumblonde
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Feb 4 2009, 11:38 AM
Post #6
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Yeah- you're probably right. But I can dream can't I?
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Mtnman
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Feb 4 2009, 11:39 AM
Post #7
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Gifting,, that's the new scam.
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dumblonde
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Feb 4 2009, 11:40 AM
Post #8
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- Mtnman
- Feb 4 2009, 11:39 AM
Gifting,, that's the new scam. Gifting? Tell us.
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Mtnman
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Feb 4 2009, 11:52 AM
Post #9
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where these peeps want you to give,, like pay it forward and you will get rich down the road... uh huh uh huh...
well the upper management takes it a little furthere and they have the co gift to them ie: cars, stocks, land, so forth. and then turn it into cash later... been to a pawn shop and seen all the Rolex, Cartier, etc in the case? CEO's cashing them in I mean who needs a dozen when you only wear one.
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Gringa
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Feb 4 2009, 05:09 PM
Post #10
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he isn't kidding. that's bush was doing - his children's children's children will never work a day in their lives.
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