Put Away The Carrot And Use The Stick
Thursday October 22, 2009
I have commented frequently on how out of balance CEO compensation is with that of their employees in many US companies. In CEO Bonuses: Necessary or Greed? I expressed my astonishment in the excuse used for these bonuses as "we need them to keep top talent" when that "top talent" has proven incapable of anticipating, and in many ways causing, the greatest depression in this country in almost a century.
Finally someone in Washington is doing something about it. U.S. pay czar Kenneth Feinberg cut the pay for the final two months of the year of the top 25 earners at seven companies the U.S. government bailed out financially earlier this year.
While American International Group Inc, Citigroup Inc, General Motors Co, Chrysler, GMAC and Chrysler Financial finally seemed to "get it", Bank of America trotted out the old concern about losing their "top talent" as a result of this.
What do you think? Did the government go too far? Is Bank of America right? Or does more still need to be done? Use the comment link below to share your thoughts with your peers.
A study of doctors in charge of the last hours of almost 3,000 people finds decisions almost always have to be made on whether to give drugs to relieve pain that could shorten life and whether to continue resuscitation and artificial feeding.
In 211 cases (7.4%), doctors say they gave drugs or stopped treatment to speed the patient’s death. In 825 cases (28.9%), doctors made a decision on treatment that they knew would probably or certainly hasten death. One in 10 patients asked their doctor to help them die faster. Repackaging What Does it Mean? When a private equity firm takes a public firm private by purchasing all of its common stock with leverage loans. The private equity firm then makes changes to the company, in effect “dressing up” the company, with an eye toward bringing it public again via an initial public offering (IPO).
Mrs. Palin backed Doug Hoffman, the Conservative Party nominee, in the traditionally Republican 23rd District. The Republican nominee, Assemblywoman Dede Scozzafava, is a moderate who has broken with the G.O.P. by supporting same-sex marriage and abortion rights.
The seat was vacated by John McHugh, a Republican, when President Obama tapped him to become Army secretary, forcing a special election on Nov. 3.
The Republican Party’s selection of Ms. Scozzafava has alarmed some more conservative Republicans, who feel the party is selling out its ideals to retain the seat. In selecting Ms. Scozzafava, state Republican leaders may have been mindful that Mr. Obama carried the traditionally Republican district. And Mr. Obama recently hosted a fund-raiser for the Democratic nominee, Bill Owens.
“Because no one knows you have a right to know you’re under surveillance,” Ms. Paton said, “nobody ever makes a complaint.”
I thank you
Firozali A. Mulla