I'm not even bothering to read this article - just the reactions to this tells me all I need to know.
I have a simple, easy solution to all of these CEOs screwing over their companies and turning bad business while raising and giving bonuses to themselves and their buddies:Strip them and their families of everything, including their clothing. (Ok, they can keep their underwear - it's not like anyone wants to see what's underneath.) Force them - no sympathetic hands of help, no giving of little snacks of food or articles of clothing - to suffer as a poor person for a few months. If they survive, great, give them a second chance - let's see how they operate knowing that the next time they screw over other people they'll have to go through that sort of hell on a more permanent basis.
Give people sufficient motivation to do the right thing, and they'll do it, and keep doing it.
As disgusting as these salaries and bonuses are, you really are screwing dangerously with the free enterprise system. Conditional C-Suite compensation limitations, such as is the case under TARP, one thing (and notice how those institutions are scrambling to pay back the bailout funds to get out from under those restrictions). But to do it on a wholesale basis really does fly in the face of the economic engine that drives this country.
What I'd rather see, first, are Federal criteria that defines a set of measurable environmental, social, and educational goals that a corporation must meet annually, with C-Suite comp tied to the corp's performance relative to those goals. And second, an appropriate tax bracket that takes at least 40% of these bloated compensation packages and golden parachutes, and distributes it to State and Federal programs for education, health care, and job creation and training.
'Nuther words, let these schmucks earn as much as their shareholders want to pay them. Just make sure they're giving a fair and reasonable chunk back to the people.
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