Sunday, June 22, 2008

EXECUTIVE COMPENSATION part 1 A

Larry is a true believer of unlimited executive compensation. That means that you can make as much as you can. Who doesn't agree that this is the american dream. If everyone can get unlimited compensation, then we don't have to worry anymore. That can be very inflationary and I will review that at a later point. I believe in unlimited compensation for your private company , not a public entity or corporate entity that is involved in accountability to its shareholders or mutual holders. Let's look at for example, an insurance company that raises premiums from its customers. The CEO and top management will love to get as much as they can in executive compensation but when it comes to reimbursing their customers who have suffered a mishap, they will try to cut any money due them.
And what about those banks that have people's money in FDIC protection up to 100,000 only. Ask those executives what happens to those customers who had more than 100,000 in their bank account. Those executives only worry about their compensation and in the meantime they orchestrate with OPM (other people's money). I believe there has to be a balance or some kind of standard mathematical formula for those companies who are entrusted with other people's money. As a believer of true capitalism, I put the interest of the corporation ahead of the interest of management. The corporation has to endure. But there is here an obstacle that creates confusion. As Larry keeps saying that he wants a cut in the corporate tax rate, I see that management tries to avoid paying higher corporate taxes by increasing their salaries. I will say that we need to have corporate reform that not only looks at taxes but at various issues across the board.

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