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Executive Compensation, Are they worth it??

Discussion in 'Uncategorized Threads' started by JimmyP, Nov 20, 2008.

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  1. JimmyP

    JimmyP TS Member

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    I have been looking at the economy as a whole and was wondering;
    Are executives at most companies worth it?
    Top 3 at GM= 30 million in 2007
    Top 5 at Ford 70 million in 2006
    Top 1 at United Healthcare 26 million with 1.6 BILLION in stock options in 2007

    Am I wrong to think that it borders on criminal? Do they deserve this much? I am not talking about private companies either, just publicly traded ones.


    Jimmy
     
  2. H82MIS

    H82MIS TS Member

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    ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff-------- no!!!!!!!!!!!!!
     
  3. Setterman

    Setterman Well-Known Member

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    Blame the Board of Directors. They interview and hire the CEOs, and approve their salary packages. Most CEO's are hired under a competitive atmosphere and a production incentive package. The CEO runs the business. The BOD hires the CEO.
     
  4. birdogs

    birdogs TS Member

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    NO! the problem is that these "managers" have stolen these companies from their shareholders. Large companies have so many shareholders that the managers are virtually insul;ated from their real wishes. It is a classic case of divide and conquer or more acurately, the corollary. With so many shareholders, the liklihood of them organizing to change anything the managers want is almost nil. Thus the executives make us believe that they are worth millions and millions of dollars a year and retirements which are so large that they could supprt a hundred families for life!

    The executives become so arrogant that they think they are above the shareholders who own the company. Take Jack Welsh, for example. Retired from GE with a huge pension, he charged his socks to the company. He apologized when caught!

    Let's get real. Kosloski (TYCO)was only the tip of the iceberg. This is a disgrace and has been going on for as long as I have been involved in business - and that's a LONG time!
     
  5. GunDr

    GunDr Well-Known Member

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    Why can't people just get paid for the work they do? Why pay bonuses. To pre-pay a wage to an executive that has bounce from one failed company to another is foolish.

    Pay only on commissions!! Only then will the cream rise to the top.
     
  6. 391 shooter

    391 shooter Well-Known Member

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    Performance based compensation. If you make money you get a commission if you don't make money you don't get commission.

    The part that erks me is the CEO's that left some companies that were going under and still received severance packages in the millions! Now that my friends is assinighn.

    Looks like the BOD's at GM Ford and Chrysler have made some pretty bad CEO choices as time has passed.

    This CEO competitve BS comes from the BOD's and it is a good ole boy club when you get into the CEO, COO, and VP positions in huge corps.
     
  7. Unsingle

    Unsingle Member

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    The reason Obama won and why socialism is on the rise is because of the awful greed in American. I have never seen anything like it before in my lifetime. We will not get rid of this economic downward spiral until we address the problem of greed displayed by so many people. You can say what you want about capitalism, but no one, and I mean no one, is worth a million dollars a year.
     
  8. CalvinMD

    CalvinMD Well-Known Member

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    I wonder why anyone of them are getting the bonuses at all...Isn't a bonus supposed to be reward for performance or meeting goals....they must have some pretty low goals and expectations out there in the white collar world
     
  9. N. J. BOB

    N. J. BOB Active Member

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    How about the Doctor slicing open your heart, what is he worth ????
     
  10. GunDr

    GunDr Well-Known Member

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    If an exec or sales person busts their ass and was paid on a commission, I would shake their hand to congradulate them on their $10 million dollar wage.

    Then I'd buy him a beer, and ask him what the secret to their drive is.
     
  11. Setterman

    Setterman Well-Known Member

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    If any of the top 20 execs at the Big 3 left their job today, they would have another job tomorrow paying close to what the make right now. Tell me Honda, Nissan, Toyota, or some other automobile related business wouldn't try to snatch them. They have global contacts in marketing, banking, and business.
     
  12. Rico46

    Rico46 TS Member

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    I never fault a man or a woman for their compensation. All of us would be more than glad to take 25, 50 or 75 million dollars in compensation if a BOD and the general public are stupid enough to allow it!

    If you own stock in a company you have the right to vote at the directors meeting. DO IT!!! You can make changes but most would rather sit around and bitch. You don't think most corporate officers and BOD's haven't figured that out yet? I work hard for a living and I have the opportunity to make bonus on top of my salary. When I get it...I deserve every dime of it! When you walk in my shoes 75 to 80 hrs a week and away from my family 3 to 4 nights a week then you can tell me what it's worth.

    Stop bitching and get involved. Make the BOD and company officers answer to you! As the stockholder you are their boss!

    Rick
     
  13. JimmyP

    JimmyP TS Member

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    I'm not against anyone making what they can IF... They are not beholding to shareholders. If it is your company then make all you can. But when you go to work for a publicly held company then you have a commitment to the shareholders to do your best and to share with them proportionately the fruits of the entire organization. But what we have now is a good buddy system on the boards of directors that rape the companies first and the remaining is doled out to the shareholders. They "cook the books" like Raines did so it appears that they met the threshold for bonuses when in reality all they are doing is stealing from the shareholders. Executives are hired in at "Industry Standard"
    with all kinds of performance goals to be met. But when the Industry Standard is fraudulently elevated then that I believe should be against the law. There is no ethics in business any longer, just do what it takes, no matter what, to get all you can.

    Jimmy
     
  14. JimmyP

    JimmyP TS Member

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    Take a look at this and tell me it isn't criminal.http://www.startribune.com/business/11093081.html
     
  15. Texas Crew'd

    Texas Crew'd Member

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    I am not opposed to high salaries and capitalism one bit. What I am opposed to is my tax dollars going to bailout a company, bank or institution that was run into the ground by the CEO that has profitted extremely well while driving his program into the ground.

    We are quickly becoming nation of followers instead of leaders.

    They must be getting their naps in during the ethics and accountability sessions. The politicians bring the pillows.

    Garry
     
  16. gdbabin

    gdbabin TS Member

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    Makes me consider changing sexes and finding a sugar daddy.


    Anonymous
     
  17. BigM-Perazzi

    BigM-Perazzi Well-Known Member

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    Jack Welsh late of GE, is probably one of the few I'd like to see running GM/Ford/Chrysler....

    Bill Gates made millionaires of many of his employees....

    But, generally, their more like prostitutes, willing to suck the life out of a company for personal gains....
     
  18. W.P.T.

    W.P.T. TS Member

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    The Top Execs in no way, shape, or form are worth what they are getting paid, there should be a cap of say 10 or 15 Million and if they can't live on that, that's just to bad ... This country has become unrealistic when it comes to money and who should get what for what they do ... Ball Players, Foot Ball Players, non of the top professionals in sports are worth what they are getting paid and they know it ... Professional Bowlers get $40,000 if they win and they pay their own expenses out of that for the most part, plus support their familys if they have one ... The top 4 make the finals weekly during the season so if they don't make it thats tough ... The top bowler in the sport has been bowling for over 40 years and made just over 5 Million total for his career so far, thats Walter Ray Williams Jr ... Reality is long gone with these people but soon to return when their jobs all go bye, bye ... WPT ... (YAC) ...
     
  19. phirel

    phirel TS Member

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    Seems as if several on this site do understand what others should be paid. If they can do this, than I guess I should also be able to do it. Please post your name, address and where you work and I will tell you how much you should get paid.

    Pat Ireland
     
  20. bigk

    bigk TS Member

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    Any chance of a bonus for 100 straight?
     
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