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Thread: Citigroup Investors Reject Pay Plan

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    Citigroup Investors Reject Pay Plan

    Hopefully all shareholders will start rejecting these Huge salaries and bonus packages for CEOs especially those that fail.


    At an otherwise-placid annual shareholder meeting, Citigroup Inc.’s

    shareholders dealt a blow to management and the board by rejecting ratification of the bank’s executive-compensation proposal. At Tuesday’s meeting, held outside of New York City for the first time, 45% of votes cast approved the proposal put forward by the board to approve executive compensation for five of the top executives whose compensation must be disclosed. The vote was required by law.

    http://www.wallstreetnews.info/?p=8632

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    Re: Citigroup Investors Reject Pay Plan

    Is a hopeful sign, the sky is not longer the limit.

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    Re: Citigroup Investors Reject Pay Plan

    Over/under on number of posts before the phrase "class warfare" appears?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Citigroup Investors Reject Pay Plan

    Quote Originally Posted by Deuce View Post
    Over/under on number of posts before the phrase "class warfare" appears?
    I'd say we'll see it by post #3.

    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Citigroup Investors Reject Pay Plan

    Wasnt posted for or to start a classwarfare thread....its a news story from a legitimitate outlet.....truth is truth after all...right ?

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    Re: Citigroup Investors Reject Pay Plan

    I'm not a fan of citigroup. I'm not sure what the solution to their problems is, but there are a LOT of problems. Wonder how this decision will reflect in operations over the next few months.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Citigroup Investors Reject Pay Plan

    Quote Originally Posted by tessaesque View Post
    I'm not a fan of citigroup. I'm not sure what the solution to their problems is, but there are a LOT of problems. Wonder how this decision will reflect in operations over the next few months.
    The board is not bound by the vote of investors...ridiculous as that is....so they could turn around and give the Execs they pay and bonus anyway.
    The point is I believe people are starting to realize finally that these CEOs are utterly totally overpaid its gone beyond reason

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    Re: Citigroup Investors Reject Pay Plan

    Quote Originally Posted by lpast View Post
    The board is not bound by the vote of investors...ridiculous as that is....so they could turn around and give the Execs they pay and bonus anyway.
    The point is I believe people are starting to realize finally that these CEOs are utterly totally overpaid its gone beyond reason
    I'm not sure, honestly. I have no idea what a CEO for a world conglomerate like Citigroup actually does. I'd imagine it's probably hard to fill these positions with quality people, so I'm sure it's necessary to provide increasing incentives to get the right people in. I think, perhaps, the issue is not necessarily pay, but perhaps the selections being made for positions of leadership.

    While kids in DISD use history textbooks that end at WWII, the former super intendent was rolling in dough with little to show for his leadership. But I'd accept that salary level for somebody who actually sought to improve a district that is as prone to failure as DISD is.

    It's all about results, in other words. If you expect the man running Citigroup to get good results but you only want to pay him $1 million to do it you're probably not going to get much for your money.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Citigroup Investors Reject Pay Plan

    Quote Originally Posted by tessaesque View Post
    I'm not sure, honestly. I have no idea what a CEO for a world conglomerate like Citigroup actually does. I'd imagine it's probably hard to fill these positions with quality people, so I'm sure it's necessary to provide increasing incentives to get the right people in. I think, perhaps, the issue is not necessarily pay, but perhaps the selections being made for positions of leadership.

    While kids in DISD use history textbooks that end at WWII, the former super intendent was rolling in dough with little to show for his leadership. But I'd accept that salary level for somebody who actually sought to improve a district that is as prone to failure as DISD is.

    It's all about results, in other words. If you expect the man running Citigroup to get good results but you only want to pay him $1 million to do it you're probably not going to get much for your money.

    Your last paragraph called it....its about results...you just dont give a guy MILLIONS upon millions of salary and bonus without him producing some results....citi is failing along with a whole bunch of the big boy banks and investment bankers in the last couple of years and their Salaries and bonus has gone up...while investors lost money....to simplify, the pigs at the trough are taking good care of themselves at everyone elses expense....theres a limit to what any single person is worth in an organization....ORGANIZATION let me stress that...it takes alot of people to make one of those.

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    Re: Citigroup Investors Reject Pay Plan

    I see no problem with the salaries they want/make.
    Many are worth multiples of it, many nothing.
    Hedge Fundies routinely make Tens/Hundreds of millions a year.
    Why should the head of Citi make less than an a Guard for the Cleveland Cavs?

    What they are worth to society is less clear (er, clearly less) and can then be regulated by means of the Buffett Rule, or Buffett Rule+.
    The latter being say a 50% rate on income over $5 million per year.
    You know, the way it was, actually far less punitive, than from the 1930's until Reagan, with 70%-90% Top rates. (when we were 'socialist' and had a thriving middle class)
    Last edited by mbig; 04-18-12 at 05:14 PM.
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