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Thread: The economic recovery turns 2: Feel better yet?

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Your'e assuming too much. You're basically assuming that the money is better spent by the workers than the CEO. Is that true? Who's typically the better investor? The rich man or the poor man?
    The middle class are. The rich typically do not invest large percentages of their money. They sit on it. And yes, I am assuming that giving the poor more money, after cost have been covered and it is done willingly (not minimum wage laws) would lead to economic expansion.

    Case in point: The "rich" are getting richer right now. Economic expansion is low because demand is not there. If the "poor" suddenly had disposable income, there would be demand. The money would circulate, people would be lifted out of poverty, those people would invest, economy would rebound.

    Quote Originally Posted by washunut View Post
    You probably know what you are suggesting is just silly. There is no such thing as a pot of money that folks decide how to divide. Nice in fairy tales, has nothing to do with real life.
    Its not exactly silly. The board of directors of a company make decisions on behalf of its stock holders/investors. They decide to give the CEO a bonus of whatever amount they deem is worthy to award him and keep him working for that company. In turn, the CEO could (and probably should) take some of that money and give it to his employees.

    I advocate a social shift, one based on morality and the difference principal. Its possible and should be sought after and fought for.
    Last edited by xpiher; 07-05-11 at 11:10 PM.
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Lord Tammerlain View Post
    if the board was looking out for shareholder interest yes, that should be the case.

    But as the Pres and CEO are looking out for their interests, they nominate people to the board, and the people on the board are looking for thier own interests (unless they specifically represent a major shareholdr), and as the board's pay is often determined by the CEO and the CEO's pay is determined by the board, they have a serious conflict of issue regarding compensation. Which is why the Compensation commitee was introduced, and by god the Comp committee is paid for and choosen by the company so it is in their interest to recomend a higher rate of pay in order to be choosen again.


    Overall high level management (pres, CEO, other Chiefs) the US are paid at least double what the same positions pay in similar companies in Germany and Japan.
    Seems to me that one would have to be rather stupid to buy shares in a company where the board was not looking out for shareholders.

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by TOJ View Post
    Seems to me that one would have to be rather stupid to buy shares in a company where the board was not looking out for shareholders.

    .
    How else can you explain compensation for top executives in the US more then double that of top executives at similar positions in similar companies in Japan and Germany?
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by phattonez View Post
    Get the skills and experience first. Be born to rich parents, get a free pass into Harvard or Yale, and join an influential fraternity.
    Fixed it for you.
    For: legalizing drugs, gay marriage, abortion, guns, universal health care, public sector jobs, nuclear power, free education, progressive taxation
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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Lord Tammerlain View Post
    How else can you explain compensation for top executives in the US more then double that of top executives at similar positions in similar companies in Japan and Germany?
    If you are not a stockholder, its none of your damn business. If you think they are not looking out for stockholders and you own the stock, you are just stupid. I will stipulate there are a lot of stupid people in the USA.

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by TOJ View Post
    If you are not a stockholder, its none of your damn business. If you think they are not looking out for stockholders and you own the stock, you are just stupid. I will stipulate there are a lot of stupid people in the USA.

    .
    Your position contradicts the evidence. In a year in which Wall Street required massive bailouts (2009), their bonuses to top level employees increased by around 17%; even though the year before WS firms lost a combined $40+ billion. Therefore, i will stipulate that you have no business discussing such topics
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by Goldenboy219 View Post
    Your position contradicts the evidence. In a year in which Wall Street required massive bailouts (2009), their bonuses to top level employees increased by around 17%; even though the year before WS firms lost a combined $40+ billion. Therefore, i will stipulate that you have no business discussing such topics
    Nothing you said contradicts what I stated with the exception that stupid politicans elected by stupid voters decided to give crooks some taxparyer money.

    Are you advocating the government control compensation or what is your point?

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by TOJ View Post
    If you are not a stockholder, its none of your damn business. If you think they are not looking out for stockholders and you own the stock, you are just stupid. I will stipulate there are a lot of stupid people in the USA.

    .
    Selling stock doesn't change the culture of a business.
    Hayek - too liberal for republicans

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by xpiher View Post
    Selling stock doesn't change the culture of a business.
    If your stupid politicians will quit giving them taxpayer money, why do you care?

    .

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    Re: The economic recovery turns 2: Feel better yet?

    Quote Originally Posted by TOJ View Post
    If your stupid politicians will quit giving them taxpayer money, why do you care?

    .
    Its not "stupid politicians" that's the problem. Its the system. Case in point, both parties voted for the bail out. Even tea party repubs tacitly support the measure as an extreme case. The system is broken, the system is what is corrupt. Putting the "right people in office" will not solve the problem, it will simply corrupt those people. This is a truth that Friedman and Hayke knew quite well. Its why the left is displeased with Obama.
    Hayek - too liberal for republicans

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