$17.4 Billion Bailout Package provided!

[Steve S]

Originally Posted By: steve20
I like GM products too- there are 3 of them in my garage right now, but as for the UAW-they can rot in .... bloodsucking leaches
I hope they get theirs in the end


Steve
If the CEO gets his millions of dollars it seems fair the workers should get an equivelent pay sacle.

 

[Shannow]

What's a fair ratio of CEO pay versus worker's pay ?

4, 8, 10 ?

Even at the latter, the workers would be earning millions per annum.

 

[JHZR2]

don't they do it that way in Japan?

 

[Steve S]

I agree with Toyotas quality going down, down, down ! I am not a brand loyal type person .Probably why I am really not into a sports team?

 

[Volvohead]

Originally Posted By: Shannow
What's a fair ratio of CEO pay versus worker's pay ?

4, 8, 10 ?

Even at the latter, the workers would be earning millions per annum.


There are historical studies showing the ratio between line employees' and CEO compensation scales. IIRC, just after WWII, it was somewhere around 10 or 20/1, generally. Back then, a $100,000 salary for a "captain of industry" was titanic. I think by the 1990s, the ratio had crept up substantially into the hundreds, and over 1,000/1 in some extreme instances. Whether this is appropriate, I will leave for others to ponder.

 

[Kestas]

For reference, when I was guest in a communist country, the former president made his case for communism (and against capitalism) by pointing out to us that the salary difference between himself and his chauffer was 6 to 1. Granted, there were many other perks to being president, but this ratio stuck with me.

I will say ratios of 100:1 and 1000:1 are absurd. They say that people in this position aren't much smarter than the average person when it comes to IQ or other 'yardsticks' used to measure intelligence. They're simply lucky.

I'm waiting for a revolution to happen in this country. (Don't label me communist - I hate commies!) But capitalism has reared its ugly head and needs to be put in check.

 

[Pablo]

I agree that paying losing top execs ANYTHING is too much.

What? The government should control what private companies pay?

How about ball players and actors? They make big money.

What about priests? They are in charge of some large churches with many people.

What about union bosses?

Etc.

We are seeing capitalism in all it's gory check this stuff. The government will only mess that up.

 

[Kestas]

Normally, the government should stay away from private salaries. But in this case, where it's government money handed to private enterprises, we can make an exception. Plus, if the government is trying to control UAW costs, why shouldn't they control financial exec pay? You can't have it two different ways.

Somehow, the system of checks and balances within private companies to rein in executive pay has fallen apart. What shareholder would actually okay this kind of compensation in a non-performing company?

With the bailout, we've introduced socialism into our country. This requires a new set of rules. We're breaking new ground here.

 

[Pablo]

Originally Posted By: Kestas
Normally, the government should stay away from private salaries. But in this case, where it's government money handed to private enterprises, we can make an exception. Plus, if the government is trying to control UAW costs, why shouldn't they control financial exec pay? You can't have it two different ways.

Somehow, the system of checks and balances within private companies to rein in executive pay has fallen apart. What shareholder would actually okay this kind of compensation in a non-performing company?

With the bailout, we've introduced socialism into our country. This requires a new set of rules. We're breaking new ground here.


I can't argue with your first statement. I do doubt the government will control union pay though. If these top weasels come for a handout, then they should get $15/hour.

Somehow the boards got the notion that they needed to pay billions to get better talent. They screwed up.

We are just spiraling the toilet rim.

 

[1sttruck]

"... Plus, if the government is trying to control UAW costs, why shouldn't they control financial exec pay? You can't have it two different ways.

Somehow, the system of checks and balances within private companies to rein in executive pay has fallen apart. What shareholder would actually okay this kind of compensation in a non-performing company?

With the bailout, we've introduced socialism into our country..."

I agree, and it's interesting that there isn't as much clamor to lower executive salaries, they're the ones who are responsible for the company, while there is a lot venom directed at worker pay; bizarre.

'Socialism' has always been a part of the way of doing things, look at the recent financial industry bailout, Amtrak, Chrysler before, agriculture subsidies, timber subsidies, railroad land grants, rural electrification, irrigation / flood control, etc., and most of all don't forget military related jobs.

If 'free market forces' were left to run things we'd only have 1st world conditions around major metropolitan and vacation / recreational areas, and a lot of 3rd world conditions elsewhere, as it's just plain too expensive to build and maintain electricity, irrigation, etc. for so few customers in rural areas. 'Free market forces' would consist of never ending boom / bust cycles of speculation, resource exhaustion, and massive amounts of toxic waste as 'green' is too expensive to do and be competitive when others don't do it.

We all wear at least light rose colored stars on our caps, to go with the glases.