A Question

So, everybody’s complaining because, if they take money from the government, they’re now going to be limited to a $500,000 salary and can’t cash any stocks until after the government is paid back.

“We’ll loose all our best minds!”  They complain.

And here’s my question.  Am I misunderstanding the direness of the economy or do they really not get that these “best minds” have nowhere to go?

15 thoughts on “A Question

  1. Two thoughts:

    1. They’ve lost their DAMN minds if they think qualified, talented people won’t do those jobs for half a million dollars. Even better, those people might have a measure of humility too. If someone is put off by having to do their jobs to make the entirety of their compensation, they were just going to go for short-term gains anyway, while gutting the long-term structure and profit.

    2. Watch how it’s socialism to make these paycuts a condition of the bailouts … but it wasn’t when they were trying to make guys like my dad work for a fraction of their current wages.

  2. If ever there was a time for sarcasm quotes around “best,” now is the time. Is there a job (anywhere, done by anyone) that merits more than a half a million a year to do in its complexity or its importance? I’m thinking no.

  3. NPR was interviewing a guy over this. He was expaining how many people on Wall Street make over $400,000/year. Thousands of them.

    I entered the wrong business.

  4. > Watch how it’s socialism to make these paycuts a condition of the bailouts

    Actually, wouldn’t that be Stalinism? After all, it was Stalin who starved the peasants, as Obama wants to ‘starve’ the ‘poor’ executives. /snark

  5. I have offered, and humbly so, I might add just to toot my own horn, to take any of these positions at $500K a year in the full expectation I won’t fuck it up like they did.

  6. Shoot, I ought to tell the Butcher to get him one of those $500,000 a year jobs! There’s no way he could screw up that badly. And, if he did, at least the company would have an excuse. “Yes, sadly, the man the government put in charge of our corporation spent a great deal of time playing video games and ordering shrimp scampi from the commissary and didn’t seem to care about looking at the books. It’s all the government’s fault!”

  7. I heard a quote from a Washington Republican on the radio this morning ( I forgot the name) that in their opinion before applying for any of the Federal Bailout Funds that a company’s CEO and Board of Directors should have to tender their resignations, forego all compensation and golden parachute payments and provide a written apology to their stockholders to be published publicly. I have to say that I like that idea.

  8. Yeah, I have to admit that I’m stunned that, on the one hand, they’re still preaching this meritocracy bullshit about how they deserve those salaries, boo hoo hoo, and yet on the other hand don’t seem to get that they’ve run their companies into ruin and thus by their own paradigm, deserve to suffer.

  9. Pingback: We'll Say it Until the Cows Come Home: Economy Needs Help - Real Estate Investing

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