ST Alpha - "He is of course wrong about one thing...the needing the high pay to keep good execs" (Reading a Post)

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In response to "Who is the least popular millionaire among other millionaires but most popular among the rest of the people? Answer..." by David

He is of course wrong about one thing...the needing the high pay to keep good execs

Posted by The Coraline Cat Coalition (aka seandunham) Feb 6 '09, 11:35

If the execs were that fucking good, the bailout wouldn't be needed.

Responses:

If the execs are that bad, you aren't going to replace them with good one by paying low -- nm - ty97 Feb 6, 11:37
On a go-forward basis, you need to attract talent by rewarding said talent, not by hamstringing their compensation packages. -- nm - TFox Feb 6, 11:37 4
- yet the scale of "appropriate compensation" in the financial industry in particular has become so disproportionately out of whack - znufrii Feb 6, 11:39 2
  - Rewarding fake results, yes. But many of those people are responsible for hundreds of millions or billions of dollars a year. - TFox Feb 6, 11:41 1
    - But they are not paid based on that formula, or many of them would be giving money back for 2008 - The Coraline Cat Coalition Feb 6, 11:46
- i'd rather be able to earn more, but pay higher taxes, than be capped. (although capping the companies that were bailed out doesn't appall me.) - Andie Feb 6, 11:38
The exodus from capped to non-capped positions will be starting soon. - Strongbad Feb 6, 11:36 7
- You think a non-capped company would hire one of the failed CEO? If so, there is much more wrong with the corporate culture than we've discussed. - The Coraline Cat Coalition Feb 6, 11:39 6
  - You think some of the failed CEO's have a pretty strong resume up until this point? - Strongbad Feb 6, 11:41 5
    - but most of that "profit" was illusory to begin with, which is why they're taking all these losses now. -- nm - znufrii Feb 6, 11:42 3
      - and like the Fiorino oped said the other day, it is that company's board that sets the expectation and determines if it was delivered upon. -- nm - TFox Feb 6, 11:45 1
        
        so more importantly than capping executive pay, we need to overhaul the Board of Directors and hold them more accountable for their companies' results -- nm - znufrii Feb 6, 11:46
      - of course, that doesn't mean companies won't still be lining up around the block to hire them. -- nm - znufrii Feb 6, 11:44
    - It's not 1 f-up when you built the system. -- nm - Reagen Feb 6, 11:41

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He is of course wrong about one thing...the needing the high pay to keep good execs

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