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Citigroup Investors Reject Pay Plan

lpast

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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
 
Over/under on number of posts before the phrase "class warfare" appears? :D
 
Wasnt posted for or to start a classwarfare thread....its a news story from a legitimitate outlet.....truth is truth after all...right ?
 
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.
 
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
 
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.
 
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.
 
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)
 
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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)


None of them are worth what they are being paid...
 
None of them are worth what they are being paid...

No offense, but since you aren't the CEO or board member of a multi-national corporation, I'm afraid you're unqualified to judge.
 
No offense, but since you aren't the CEO or board member of a multi-national corporation, I'm afraid you're unqualified to judge.

True as that is...I stand by no one person runs a company...and no one is worth lots of millions....and investors seem to be realizing that.
The far right cant tell me public workers are overpaid....then defend those running companies that have to take OUR bailout money to survive making millions upon millions....that kind of fail doesnt compute with me.
 
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.

Citi Shareholders Reject Pay Proposal - Wall Street News online coverage of breaking news and current headlines from the US and around the world. Top stories, photos, videos, detailed analysis and in-depth reporting. - Wall Street News

Yay!!!!!!!!!!!!!!!!!!!!
 
Honestly, thats how its supposed to work. Stockholders should be deciding what the executive board is worth.
 
No offense, but since you aren't the CEO or board member of a multi-national corporation, I'm afraid you're unqualified to judge.

Only the very wealthy should decide what the very wealthy are worth!
 
Only the very wealthy should decide what the very wealthy are worth!

I can tell you that congress damn sure shouldnt do it, but protecting individual investors with open disclosure laws and votes on executive compensation is a good safeguard. Executives should be answerable to stock holders as a whole, not the board only.
 
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