Executive Compensation Capped

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Feb 4, 2009 11:35 am

President Obama just announced a cap of 500,000 on Executive Pay. (Companies that rec'd TARP) Everyone is being penalized, it seems.........Blessings and Good Luck to You All.

Feb 4, 2009 11:41 am
tori52:

President Obama just announced a cap of 500,000 on Executive Pay. (Companies that rec'd TARP) Everyone is being penalized, it seems.........Blessings and Good Luck to You All.




How is still having a job being penalized?

Feb 4, 2009 11:51 am

Good Morning Hank, I think if we have a job, we are blessed........for sure. The penalty, in my mind, is the huge reduction in Executive Pay. I thought a reduction was in order but didn't expect it to be so big. Have a good one. V

Feb 4, 2009 12:13 pm

Corporate compensation committees will find ways around it.  Trust me.  Note that they DIDN'T cap options, deferred stock, etc.

Feb 4, 2009 12:16 pm

Those radical right were way off in their rants about socialization with Obama....

Feb 4, 2009 12:26 pm

who is considered an executive, is the question

Feb 4, 2009 12:28 pm

Exactly Joseph.........I'm wondering the same thing. I watched the speech and like you all, I'll be waiting for a clarification.

Feb 4, 2009 12:32 pm

Who's next? Cap doesn't include those who have already taken TARP rescue money!

Feb 4, 2009 12:48 pm

Liquid, unless I misunderstood, (and that could be) it does include those who already took TARP money. I agree. Who and what's next?

Feb 4, 2009 12:52 pm
Hank Moody:
tori52:

President Obama just announced a cap of 500,000 on Executive Pay. (Companies that rec'd TARP) Everyone is being penalized, it seems.........Blessings and Good Luck to You All.




How is still having a job being penalized?

 
What are you a communist?  WTF business is it of a freaking politician to set incomes of executives?  That is the job of managemnt and the BOD not the freaking politicians who are doing nothing but lining their pockets with billions of dollars. 
 
Seriously, you dont think Paulson, Blair and say the Finance Committee of Congress didnt see this coming and haven't make a killing off this event?  Please tell me you arent that naieve.
 
This is absolutely absurd.  The Treasury FORCED everyone to take TARP money to prevent a bank run on those institutions who had to have TARP money.  Secondly what business it it of Obama to mandage/legistlate????  HE HAS NO AUTHORITY under the constitution to legistlate!!!!!
Feb 4, 2009 1:08 pm

Obama is starting to scare me.

Feb 4, 2009 1:23 pm

The pay cap would apply to institutions that negotiate agreements with the Treasury Department for "exceptional assistance" in the future. The restriction would not apply to such firms as American International Group Inc., Bank of America Corp., and Citigroup Inc., that already have received such help.

Feb 4, 2009 1:29 pm

Um . . . where do you get that?  Obama said that executives would be capped at $500k pending the return of taxpayer funds.  Sounds to me like the HR departments of the firms you've just mentioned are busy at work, right now, figuring out what the new pay packages are going to be.  Can you imagine the headlines if, a month from now, someone at AIG gets paid a million dollar bonus?  And they say, oh--we thought it was only companies that accept help in the future?

Methinks it's for everyone who has ever, or will ever cash a TARP check.

Feb 4, 2009 1:37 pm
liquid:

Who's next? Cap doesn't include those who have already taken TARP rescue money!



Why not cap the comp. of the clowns who took the first 350 Bil?  Was that monopoly money?

Anybody else getting the feeling Obama sold us a bill of goods?  (i.e.   Clean government, "change").  Way to go on the Geithner & Daschle picks. 

Feb 4, 2009 1:39 pm
josephjones107:

Obama is starting to scare me.

 
Starting to scare you?  Have you been in a coma the past year?
 
This is crazy, why is a community organizer telling companies how much they can pay their CEOs?  Leave it up to the board and the compensation committee.  This is part of the slippery slope that the government is now going down because they tried to stick their nose in the private sector (TARP) in the first place!  Reagan is rolling over in his grave.
Feb 4, 2009 1:48 pm
tori52:

Liquid, unless I misunderstood, (and that could be) it does include those who already took TARP money. I agree. Who and what's next?

 
BLOOMBERG: Rules apply to companies that in the future take “exceptional” amounts of bailout money from the Treasury, as Citigroup Inc. and American International Group Inc. have in the past. They don’t apply to companies that have already taken rescue money, although those companies must in the future agree to strict monitoring and oversight.
Feb 4, 2009 1:55 pm
BukiRob:
Hank Moody:
tori52:

President Obama just announced a cap of 500,000 on Executive Pay. (Companies that rec'd TARP) Everyone is being penalized, it seems.........Blessings and Good Luck to You All.




How is still having a job being penalized?

 
What are you a communist?  WTF business is it of a freaking politician to set incomes of executives?  That is the job of managemnt and the BOD not the freaking politicians who are doing nothing but lining their pockets with billions of dollars. 
 
Seriously, you dont think Paulson, Blair and say the Finance Committee of Congress didnt see this coming and haven't make a killing off this event?  Please tell me you arent that naieve.
 
This is absolutely absurd.  The Treasury FORCED everyone to take TARP money to prevent a bank run on those institutions who had to have TARP money.  Secondly what business it it of Obama to mandage/legistlate????  HE HAS NO AUTHORITY under the constitution to legistlate!!!!!



First, I hate the bailout and don't think it should have been done.

Second, he who has the gold makes the rules.

Third, you are retarded if you think that democrats are bound by the constitution.

Feb 4, 2009 1:56 pm

I'm about as conservative as they come, and a huge part of what the new administration does makes me nervous, but I'm all for capping the exec's pay.  These sorry bastards are watching those around them fall, are failing in most counts of business, are singing the blues about needing Uncle Sugar's help, but continue to reap huge rewards?  Screw that!  You want government money, then you don't get the good life.


I'd be curious to know of all those on here yelling socialism or communism insults, who were opposed to the "bail out" in the first place.  All the TARP money did was take a huge stride into nationalizing a good part of our economy.  If you were only worried about the pay, you were deluded.  The government now owns those corporations in at least part, and it is now exercising its rights as a entity with an interest.
 
Should have been against to begin with, let only the strong survive, let the market decide who is left standing, and we wouldn't have to worry about it.
Feb 4, 2009 2:00 pm

Amen Brotha.

Feb 4, 2009 2:08 pm

Its no wonder why Goldman Sachs wants to pay back the TARP money....so many strings are attached to that TARP check that it looks like a spider web.  

 
GS would rather pay Buffett 10%/yr than Obama-Geitner 5%/yr.  I think that pretty much says it all.