Comments on: Learning from Ken Feinberg http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/ Tue, 24 Mar 2015 16:54:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: StepUp http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-922 Fri, 12 Aug 2011 22:10:18 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-922 Ridiculously high executive compensation abounds while workers are being laid off by the thousands. This is a significant cause of our economic crisis.

Wealth and power in the hands of a few who surround themselves with others who will help to perpetuate that cozy situation.

On the other hand, laid-off workers can no longer pay their bills (whichs hurts the companies they can’t pay), they have no discretionary income to spend (which hurts businesses who rely on consumers to purchase products and services) and they use government resources such as unemployment (which hurts taxpayers).

I’m all for paying fair salaries and generously rewarding performance, but this has gotten way out of hand.

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By: Ghandiolfini http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-212 Mon, 29 Mar 2010 06:07:58 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-212 I am quite sure that executive compensation, i.e. top management and boards, is a small % of turnover and earnings, let alone industry GDP’s.

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By: i80888 http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-209 Thu, 25 Mar 2010 21:51:07 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-209 He is still one of the over paid . That is the real problem. You pay paper pushers more than teachers. Even with his pay cut he is the 5 percent of America as far as pay goes. Look at his health plan and days off. So many people complain about working for the government.
We need more free enterprise.

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By: HANB http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-208 Thu, 25 Mar 2010 21:31:00 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-208 Anybody for maximum wage law? We sure have minimum wage laws in this country, but what about maximum one can earn??

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By: JJWest http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-206 Thu, 25 Mar 2010 20:14:01 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-206 Good article. The Shareholders own the company — and the Directors are appointed to ensure that executive and management act in the shareholders best interests. What happens however, is that the executive recruit a Director and by divisive proxy ballot put that person up for approval by the Shareholders. From there the Shareholders get shafted as the executive and Directors conspire to do what best for themselves (excessive compensation). In virtually every case of government bailout, the Shareholders were failed by the Directors — who to many, should be criminally charged with dereliction of their duty and fiduciary care to the Shareholders. The false rationale of high pay being necessary to “keep the best” is the same faulty argument made for overpaid politicians and bureaucrats. Joe Citizen, is getting real tired of carrying the burden of this excess with crushing taxes.

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By: gfx1234 http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-205 Thu, 25 Mar 2010 19:48:30 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-205 Mr. Feinberg, there are fewer opportunities the higher you one climbs in their career. This limits your opportunities for change, especially at C-level.

At any other position, there’s a greater likelihood that people will change jobs for higher pay, barring any personal circumstances or preferences that would negate the desire for more pay. For example, commute, family reasons, company culture, vesting of 401K or pension, or other benefits.

Also, with the economy the way it is, it’s harder to find opportunities. There are fewer jobs that are offering higher pay than what persons are earning currently.

Three years ago, someone were earning 50K as an accountant would definitely consider a same type of job at 60K elsewhere. Unfortunately, the 60K opportunities aren’t out there as much as they used to be.

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By: Story_Burn http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-204 Thu, 25 Mar 2010 17:30:52 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-204 My pay was cut 10% last year and I still work for the company because there wasn’t any other opportunity. I am stuck and looking

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By: HarryO123 http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-202 Thu, 25 Mar 2010 17:25:16 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-202 Maybe they stay for some strange, rarely seen motive… like honor.

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By: CPA1976 http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-200 Thu, 25 Mar 2010 16:52:49 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-200 This is interesting. Do you mean to tell me that the claims of a mass exodus were not true? Wonder what else they tell us about the “free market” that isn’t true?

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By: CitizenCM http://blogs.reuters.com/james-saft/2010/03/25/learning-from-ken-feinberg/comment-page-1/#comment-199 Thu, 25 Mar 2010 16:14:20 +0000 http://blogs.reuters.com/jim-saft/?p=94#comment-199 I never bought Feinberg’s arguement that these top executives would leave. His arguement seemed to condone the self serving premise used by the top executives to preserve their over inflated compensation packages.

These top executives who supposedly would go to another country would be at a disadvantage trying to not only learn the new culture, but also the country’s business laws and government policies–all the while trying to make the business profitable.

Top executive pay needs to be restructured across many industries.

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