Can wild CEO pay be tamed? Probably not

No one element can be blamed here. There are several factors that have caused this issue. Yes one is that people bought homes that they really couldn't afford. Yes lenders should not have loaned money to people who are not sustainable. Yes CEO's are making way too much money!!

The article states that the average CEO who makes $40 million a year is 275 times more than the average American worker. That means that the average salary of people in this country is $145,000. This is so not true. I am an accountant and the CEO's making $40 million a year earn 1000 times more than I do.

What needs to happen is that all of these companies are financially audited by a credible accounting firms from the TOP TO THE BOTTOM and not the other way around.

We all have financial responsibilities no matter how much we make a year and regardless of our political views, if we as Americans do not stand together and say enough is enough, this GREED and IGNORANT lending practices will continue in the future. I say no on the bail out, however, there are many people that will be affected, including each and every one of us if it doesnt. Unfortunately, that is the American Way!!

Just think people, this is just the beginning, it will get worse from here, I guarantee it!!

Oh, have a good day.

It is easy to cap CEO pay. restore the law repealed in 1993 that allows compnaies to deduct "perfomance pay" salaries above $1 million. Believe me, if companies cannot deduct salaries period above $1 million than the shareholders will revolt and not permit these outrageous salaries.

1. As I understand it the CEO of CostCo can make no more than 15 times the lowest paid employee. I suspect that it is stated in the Corporate Charter.

2. The ratio in Europe, Japan and the Far East is significantly lower. How do they accomplish this feat?

3. Regarding attracting the top quality CEOs. Please, just look at the record of performance. If that is top quality we should start outsourcing the position. A newpaper article ran a story on AT&T's Armstrong. Most of his billion dollar acquisitions lost billions.

4. The title to this discussion that I saw answered the question as it was being posed. To me this suggests just another apologist article produced by corporate america to justify it's actions and the disgusting results.

1. As I understand it the CEO of CostCo can make no more than 15 times the lowest paid employee. I suspect that it is stated in the Corporate Charter.

2. The ratio in Europe, Japan and the Far East is significantly lower. How do they accomplish this feat?

3. Regarding attracting the top quality CEOs. Please, just look at the record of performance. If that is top quality we should start outsourcing the position. A newpaper article ran a story on AT&T's Armstrong. Most of his billion dollar acquisitions lost billions.

4. The title to this discussion that I saw answered the question as it was being posed. To me this suggests just another apologist article produced by corporate america to justify it's actions and the disgusting results.

1. As I understand it the CEO of CostCo can make no more than 15 times the lowest paid employee. I suspect that it is stated in the Corporate Charter.

2. The ratio in Europe, Japan and the Far East is significantly lower. How do they accomplish this feat?

3. Regarding attracting the top quality CEOs. Please, just look at the record of performance. If that is top quality we should start outsourcing the position. A newpaper article ran a story on AT&T's Armstrong. Most of his billion dollar acquisitions lost billions.

4. The title to this discussion that I saw answered the question as it was being posed. To me this suggests just another apologist article produced by corporate america to justify it's actions and the disgusting results.

1. As I understand it the CEO of CostCo can make no more than 15 times the lowest paid employee. I suspect that it is stated in the Corporate Charter.

2. The ratio in Europe, Japan and the Far East is significantly lower. How do they accomplish this feat?

3. Regarding attracting the top quality CEOs. Please, just look at the record of performance. If that is top quality we should start outsourcing the position. A newpaper article ran a story on AT&T's Armstrong. Most of his billion dollar acquisitions lost billions.

4. The title to this discussion that I saw answered the question as it was being posed. To me this suggests just another apologist article produced by corporate america to justify it's actions and the damaging results.

CEO's pay is determined by what other CEO's make. Its just like athletes; one guy gets overpaid, and the next guys make that pay the new standard. Its pure Capitalism, pure and simple. And everyone here claims to be a capitalist, so you should have no issues whatsoever.

Now, if they did something illegal, then you have the right to take their pay away, but so far it looks like everything they did was done leagally, so there is no reason to limit their pay they negociated beforehand.

"Everything is worth what his purchaser will pay for it."
Adam Smith - The Wealth of Nations (1776)

Please. Try not to subscribe to this theater, as it was created 4 U, the little 9-to-5 men and women. These things are planned way in advance, and when everything is in place (like this 19M charity by the public, who ended up paying 4 it), then the bubble is bursted and sold through the media and Congress by a salesman who was hired especially for this kind of jobs: W.
The Founding Fathers in Heaven must turn their faces away from the Land of the Brave, as they could not stop crying. July 4th, The Civil War, D-day, Korea, Vietnam for all this??
These corporate men, Jewish and non-Jewish, spitting into the face of everything what made this country what it was. As it is not a democracy, and not a Nation under God anymore

Please. Try not to subscribe to this theater, as it was created 4 U, the little 9-to-5 men and women. These things are planned way in advance, and when everything is in place (like this 19M charity by the public, who ended up paying 4 it), then the bubble is bursted and sold through the media and Congress by a salesman who was hired especially for this kind of jobs: W.
The Founding Fathers in Heaven must turn their faces away from the Land of the Brave, as they could not stop crying. July 4th, The Civil War, D-day, Korea, Vietnam for all this??
These corporate men, Jewish and non-Jewish, spitting into the face of everything what made this country what it was. As it is not a democracy, and not a Nation under God anymore

Check out the site below......pretty interesting! Every person involved should be prosecuted-starting with the Clinton Administration as well as the Bush Administration. They should be held accountable for their actions!! #1 pay back every dime they took from us......I say prosecute their golden A$$ and send them to jail! In jail, it should be mandatory for them to literally wear a GOLDEN parachute strapped to their back, to remind them every day why their greedy, golden A$$ is in jail!

I'm an American....neither democrat nor republican.......and I approve this comment.

This is from The New York Times September 30, 1999

Why can't we impose rules for publicly traded companies? If a company is failing and stock price going down, why should the executives walk away with millions?? There should be a limit on how much executives make. In 1970 the average CEO made 28 times the average worker's salary. Nowadays, it's over 400 times, even when the company is losing money and laying off workers.

Check out the site below......pretty interesting! Every person involved should be prosecuted-starting with the Clinton Administration as well as the Bush Administration. They should be held accountable for their actions!! #1 pay back every dime they took from us......I say prosecute their golden A$$ and send them to jail! In jail, it should be mandatory for them to literally wear a GOLDEN parachute strapped to their back, to remind them every day why their greedy, golden A$$ is in jail!

I'm an American....neither democrat nor republican.......and I approve this comment.

(Sorry, I'm not allowed to post a website)
Anyway - Go to (nytimes.com) from the archives type in September 30, 1999 (The New York Times September 30, 1999)

so why you are writing such pointless article if you do not know how pay limit can be done ?
we do not need history lectures but quick solution.
if you have not much much to say do not say are you yourself ceo or married to one so that you write such absurds ?

Y

There is one thing the government can do that would be effective. Set a cap on all money and benefits and perks and gifts recieved (as an example $1,000,000) and tax everything over that at a rate of 100%. All possessions listed all tax returns available for public scrutiny.

Why is there such outrage over CEO pay but not celebrity pay? Why do we get upset when a CEO, who has to have YEARS of schooling, training and business experience to hold their positions, gets paid millions of dollars...but yet say NOTHING over the money celebrities like Miley Cyrus and Oprah make? These no talent celebrities make more money in one movie...or in one year, than most CEO's make. You want examples??? In 2007,

Rank Name Pay ($mil) 9 J .K. Rowling 300 1 Oprah Winfrey 275 26 50 Cent 150 48 Jerry Bruckheimer 145 13 Steven Spielberg 130 42 Tyler Perry 125 2 Tiger Woods 115 8 The Police 115 25 Jerry Seinfeld 85 7 Jay-Z 82 4 Beyonce Knowles 80 11 Will Smith 80 6 Johnny Depp 72 22 Simon Cowell 72

Source - www.forbes.com

WHERE IS THE OUTRAGE OVER THIS KIND OF INCOME??????????????????

To Mob: You are so right, we have people starving in this country and living off the streets because of various reason yet a CEO gets millions and has how many homes, cars, takes trips, travels at excess, plays golf at most expensive places, etc.

How can one person get so much in a corporation when it takes hundreds to do the work and those people get laid off with practically nothing yet the CEO gets it all.

HOW DOES A SCUM BAG LIKE THAT SLEEP AT NIGHT OR LOOK AT HIMSELF IN THE MIRRORS EVERYDAY AND FEEL GOOD? NOT TO MENTION THEIR FAMILY...HAVE THEY EVEN THOUGHT WHAT IS REALLY HAPPENED HERE TO OTHERS, ETC. BECAUSE OF THEIR GREEDY HUSBAND, FATHER, SON?

My plan would be....pay a salary, receive a bonus within reason if company is solvent at end of their year (with a set of honest books I might add). No stock options that exceed a certain percentage, reasonable expense allowance, etc.

If they want to do stock options then give some to the employees, etc. and not just one person. Why be sooooooooooo selfish and treat your employees so @!$%#ty when they are the ones that are keeping the company afloat NOT ONE CEO.

IT REALLY IS SAD THAT OUR OWN GOVERNMENT ALLOWS THIS AND NOW WE ARE SUPPOSED TO BAIL THEIR BUTTS OUT FOR THEIR OWN GREED ....PERHAPS WE NEED TO REPLACE THE WHOLE LOT OF CONGRESS, SENATE, ETC. AND START OUT ON AN MORE EVEN PATH. GOD BLESS AMERICA

Washington D. C. Government Email Servers Down

ECONOMY & TAXES FAX DOC TO MRS. CATHY MCMORRIS RODGERS 1-202-225-3392‏

Dear Cathy,
Thank you for voting 'Nay' on the former US House Of Representative Wall Street Bail Out Bill! Please in the letter below I urgently implore you to vote 'Nay' again on the US Senate Version of the Wall Street Bail Out Bill, thank you!
URGENT ATTENTION: Mr. Keith Olbermann US Senate Bail Out Bill before the US House Of Representatives‏

Sent: Thu 10/02/08 12:34 PM
To: 
In regards to the Bail Out Bill for Wall Street, earlier this week the House Of Representatives did the right thing by voting the dastardly Bill down! The US Senate on the other hand are all a bunch of Jackals and Heinas, they are a brood of heinous pompous Bush Wackers blatently inciting Fearmongering by lying to the American People telling us of the impending total US and Global Economic Meltdown and Doom! To add misery to sorrow to help us swallow their poison by offering the eight keypoint tax incentives and shelters otherwise referred to as their Senate Sweeteners I am aghast much like when we were first informed about the panacea of Aspartame only to find out years later that consumption in small doses over a long period is deadly to our health and wellbeing!
Lets cut to the chase, quit sugar coating the real deal which is that this Bail Out Bill is nothing other than Big Government sluttishly selling out to Big Business!
You challenge me that how dare I speak so boldly and I will show you this Senate Bill as written utterly fails to protect the Paul's on Main Street and our youth who will be our future taxpayers who pay the final inflated Tab. There is no protection against all the loopholes and no legal recourse or court jurisdiction over Congress, the Treasury or the White House, if it were so to begin with they would have included the present suggested ammendments such as severe Government regulation of CEO stock options and retirement perks, neither the 'say on pay' or 'proxy access' provisions have been included in writing. There is no written clause demanding that corporate board members become mandatory equity stakeholders, there is no written legal guarantee that Federal Regulators be given new Patriot Act II and Federal FISA Surveillance Powers and Authority to Seize all Assets and Freeze all Financial Accounts of all these CEO's who are directly responsible for the present Economic debacle! You think humble Paul on Main Street has lost his marbles and I say think again for as we speak a Full Official FBI Investigation is underway of all these CEO cohorts, lets rumble people! One Trillion or more Bail Out is worth the time to investigate, lets take them all down the whole bunch: Mr. Stanley O’Neal, Mr. Lloyd C. Blankfein, Mr. Angelo R. Mozilo, Mr. Kenneth D. Lewis, Mr. Richard Fuld, Mr. James Cayne, Mr. Richard Syron, Mr. Daniel Mudd, Mr. Kennedy Thompson, Mr. Robert Steel, Mr. Kerry Killinger, Mr. Alan Fishman, and last but not least Mr. Martin Sullivan! Lets see, at a minimum the final financial recoup in seized assets and accounts from these bandits adding up approximate incomes and perks-
160.0 million
46.4
54.3
143.5
23.6
40.0
14.0
10.0
13.0
21.0
13.0
8.7
14.4
18.0
64.0
the total at a minimum should be $ 643.9 Million US Dollars! Not bad for a minimum down payment on a 1 Trillion Dollar Wall Street Bail Out, so says a humble Paul on Main Street!
Sincerely,
eagle9

No CEO's that don't do there jobs properly should get ZERO. The same thing he would give the blue collar worker that is down there somewhere doing the work that makes the profits for the company. I have no problem with them making a reasonable amount of money. But the limit for this should be not more than the highest paid Blue collar worker working for this company. After all he already has a vehicle and a very large expense account and some even has there housing paid by the company. So double the blue collar guys wages is more than generous.

Now with that said they should have some rules to go with all of this. Incentive yes they should get this but not a percent more than the worker gets after all 1% of a little is a little but 1% of a lot is a lot so as far as equality go's he would of coarse get more but the little guy would also reap from his part of the pie. By the same token no profit no incentive. So one is going to say that know one would take these jobs this way. Well for you here are your choices. Option #1 set in a nice office with lots of others doing the leg work with your only part of it is to make the final decision. Option#2 go down to the working level and not have to make any decisions and just work each day and drive your own car home to the house your paying for and on your way stop and put gas it your car from your own pocket.

I thinkl that most of them would chose option #2 I know I would.

I think that the problem that let these salary's get so out of proportion is that know one except the CEO him self can determine wages. Yes I know there are the proxy's you get to vote on these things if you have any stock. But if you are the CEO and want something your way it isn't hard to get these votes your way.

CHUCk  #4.3
This is exactly the point Pelosi and Feinstien want you to buy into !!
Big Corporations and Big Banks spend big money with lobbiest to buy these politians. 
Mom and Pop small businesses did NOT build America.  Big Corporations have done it all.
Remember when Sam Walton said that Walmart would only buy American? The American Flag was everywhere in Walmart.  Now it is almost impossible to find something that is not made in CHINA .
Is it any wonder Obama will not salute or honor the American flag??!!
Do Not forget.. Chinese Banks have their hand out for some of that good ol' yankee dollar!

Just exactly what does a CEO do? Its so refreshing to see corporate executives getting

salaries commensurate with those of the other major contributors to solving the worlds

problems. I am referring, of course, to football, soccer, baseball, basketball and any other ball where annual salaries frequently hit the many millions of dollars mark. Perhaps these CEOs are pretty high quality ball players in their own right.       

This is totally unbelieveable and really isn't worth a reply. What makes a ceo's pay worth so much? The PRESIDENT of the united states makes WHAT, LIKE less than half a million yearly. A CEO not much more than a figure head, gets 19 million for five weeks ??WORK?? Waste waste and more waste, and less less for the working people. Lets give it all back to the indians, and start living like real people again! MIND BOGGLING, to say the least!!

I just have to say this country has become an addict of multitudes. We have failed our forefathers. If John Adams, George Washington, and Ben Franklin saw this country today, they'd probably beg england to shoot them.

We are addicted to oil and money. How can out government provide 700 billion dollars to bail out these companies, but my nieces have to use 6 year old school books??? And then these guys get to walk away with fat pay checks??? I understand that these other nations say, "We need you US, help those companies out." But in all honesty, who cares about our damn foriegn politics?? As long as we aren't nukking each other I think things are just fine, so why don't we stop trying to please other countries and start pleasing ours.

God help us all for we can not see the forrest through the trees.

First off, Barney Frank needs to be relieved of his chair as head of the Senate Finance and Banking committee ASAP.  Also, anyone who wants to blame Bush for this crisis needs to be aware of the fact that Clinton signed the banking deregulation act which contributed to this mess in the first place.  The Graham-Leach-Bliley Act was the work of Phil Graham, a Democrat, who deregulated the financial services industry so that banks could now own stock brokerages and insurance companies.  Thus, due to the lack of government regulation, the banks had underwritten billions worth of exotic loans to unqualified borrowers.  Maybe you're one of the offenders that bought more house than you could afford or refied until you had no equity left in your home...so you could afford your luxury vehicles and high-end toys?

Before the hyperinflation of the 70's, executive compensation was reasonable compared to the average Joe.  It was something like twenty times the average pay instead of a couple hundred times the average paycheck.  How is it that every time the Feds "fix" this disconnect with the average worker they actually make the situation worse?  The reality of the situation is that the average CEO does not work miracles and often leaves the corporation in worse shape than he or she found it in.  Since their assistants actually do the majority of the work, the corp. execs are grossly overpaid for what they actually do.  But their friends on the board take care of them regardless.  Therefore, the argument that the sky high pay is necessary to attract "talent" is a bunch of bunk!  Japanese and Chinese execs don't make anywhere near what their American counterparts do, yet churn out superior results.

I know that immature readers will complain that I sound like a communist or socialist, but something needs to be done ASAP to cap executive pay across the board.  Just like most pro athletes are overcompensated for their performance, so too are Wall Street fat cats.  Most fund managers can't match the performance of the major indexes, yet make millions anyway.  Stock options need to be removed from the compensation packages to prevent further manipulation of company shares and the abuse of corresponding markets.  Base salary for execs should not be more than ten times the average wage plus a cap of ten times the average worker's pay for annual bonuses.  Critics who claim it won't work are the same ones that say the American economy will fail without illegal immigrant labor!  If college educated people will work for nothing as an intern at a Hollywood studio or record label, I can guarantee you that there will be capable candidates wanting to interview for scaled down corp exec pay positions.  How much money are corporations handing out each year in compensation and golden parachutes for inferior performance?  Yet these same corporations lay off hundred or thousands of workers claiming that they can't afford to keep paying them!

Unfortunately, a revised New Deal needs to be hammered out and actually applied across the broad economic spectrum.  Bank deposits should be insured up to $500K-$1M to keep pace with inflation since the FDIC insurance fund was created decades ago.  New government oversight of the financial sector needs to be created.  Banks also should be required to divest themselves of stock brokerages and insurance companies.  Golden parachutes should be banned outright along with outrageous signing bonuses.  Entitlements and tax breaks should be stripped from any U.S. corporation that exports manufacturing jobs to foreign countries to save money or increase profit margins.  All oil company tax incentives need to be terminated ASAP in light of recent record profits for Big Oil.  Term limits need to be enacted and enforced against Congressmen and Senators.  Government spending must also be capped and legislation introduced prohibiting trade imbalances.  Non board and non executive shareholders should also have more say regarding compensation issues while mutual fund managers should be restricted as to their influence on corporate pay raises.  Also, stock brokers should not be allowed to vote on their client's behalf going forward!

I liken the U.S. economy to the Titanic, or the "unsinkable ship".  Grab your lifejacket!

I am just outraged over the events of this past week and I beleive the goverment should step in and freeze the assets of the fat cat CEO's and use their money to help with the bailout.  Until there is a real penalty for these people who sip[hon these huge compensation packages for running a bankrupt company, they will continue to do it.  When I think that all of the hard working Americans who have collectively seen out pension plans shrink by 8.3 TRILLION dollars, somebody needs to be held accountable and pay for all the pain and misery their greed has caused.  This is exactly how the French revolution started, there is no difference between Marie Antoinette saying "Let them eat cake" and these fat cat CEO's asking for a bailout then two days later spend $440,000.00 for spa treatment and golf.  I say root these people make them pay, take their assets, mansions, luxury cars, whatever, then the next guy in line will think twice before he dips his hand in the till.  I beleive the American people should rise up and demand no less from congress, but then they are all in bed together, so lets vote them out too!