This Would Be A Good Law Here


damngrumpy
#1
British law would restirct CEO salaries (external - login to view)

by The Canadian Press - Story: 69489
Jan 8, 2012 / 11:15 am


Britain's government is looking to introduce laws that grant company shareholders the power to veto executive pay packages, Prime Minister David Cameron said Sunday, in a bid to address public anger at many bosses' lavish salaries and bonuses.
Cameron blamed what he called the "merry-go-round" in which a small group of boardroom directors approve each other's excessive packages to the detriment of their own companies.
He said he was aware that most people are furious that some top executives have received huge remuneration, despite their firms not improving their performances.
"Big rewards when people fail make people's blood boil," Cameron told the BBC in an interview.
He added that laws to regulate high pay in banks are likely to be proposed in the next few months. There were no details on how the new arrangements would work, but they could form part of a reform package being prepared by Business Secretary Vince Cable. Currently, company shareholders can only show their disapproval through an advisory vote.
The leaders of all three major parties in Britain have attacked the excessive bonuses in recent days, amid continuing public discontent over the issue as the nation's fragile economy struggles to cope with rising unemployment, weak domestic growth and the debt crisis in continental Europe. The Bank of England has forecast little or no growth over the next few quarters.
Taxpayers rescued the Royal Bank of Scotland and Lloyds Banking Group during the credit crisis and continue to hold significant stakes in both banks, which has made the seven- and eight-figure bonuses pocketed by some bankers a sensitive political issue.
Last year, Cameron said it was "unacceptable" that RBS was setting aside more than half a billion pounds ($785 million) for bonuses.





In North America we have had enough as well, and it starts with the shareholders
of these publicly traded companies. If the share holders won't act the Governments
should It is time to change what needs to be changed and legislation in this case
is the only way to make these scoundrels accept their part in creating a collapsing
economy
 
Cliffy
#2
There is also the possibility that these people are being rewarded for intentionally collapsing the economy. This could very well be an engineered demolition. There are those who want a one world economic system and would benefit from a collapse. In the end, those who control the money will get their way no matter what laws are passed.

It's the old "Create a problem then offer a solution" game. Once the economy collapses there will be mass chaos and the people will demand a one world economy controlled by a one world government.
 
JLM
#3
Quote: Originally Posted by damngrumpyView Post

British law would restirct CEO salaries (external - login to view)

by The Canadian Press - Story: 69489
Jan 8, 2012 / 11:15 am


Britain's government is looking to introduce laws that grant company shareholders the power to veto executive pay packages, Prime Minister David Cameron said Sunday, in a bid to address public anger at many bosses' lavish salaries and bonuses.
Cameron blamed what he called the "merry-go-round" in which a small group of boardroom directors approve each other's excessive packages to the detriment of their own companies.

Just more greed, which will eventually be the demise of mankind!
 
Ariadne
#4

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(ignore the UFO stuff)
 
talloola
#5
a good decision, and will balance a little, to at least help make the regular
guy on the street feel someone cares about fairness from 'bottom to top', as
we have had to sit back, while governments pick away at our incomes, taking
away for every little thing they can, then read in the paper of the lavish
raises for CEOs and politicians, and no one monitors any of it.

A helpless feeling, and it has been happening since I can remember my grandfather
complaining about the same things 60 years ago.
 
wulfie68
#6
Quote: Originally Posted by damngrumpyView Post

In North America we have had enough as well, and it starts with the shareholders of these publicly traded companies. If the share holders won't act the Governments should It is time to change what needs to be changed and legislation in this case is the only way to make these scoundrels accept their part in creating a collapsing economy

I disagree to a large extent. Salaries paid to some top execs, and the way the curve tends to be may be unjust in many ways but I don't think the government should be interfering in the rights of shareholders to pay what they think their employees are worth. If there are legal loopholes that are facilitating excessive salary/option payments they should be closed, but I am of an opinion that this issue is one that has to be tackled by education (specifically of the shareholders as to their rights and abilities in stopping executive abuse) rather than legislation.
 
Niflmir
#7
Quote: Originally Posted by wulfie68View Post

I disagree to a large extent. Salaries paid to some top execs, and the way the curve tends to be may be unjust in many ways but I don't think the government should be interfering in the rights of shareholders to pay what they think their employees are worth. If there are legal loopholes that are facilitating excessive salary/option payments they should be closed, but I am of an opinion that this issue is one that has to be tackled by education (specifically of the shareholders as to their rights and abilities in stopping executive abuse) rather than legislation.

Well, I don't really see your point.

What the government is doing is enabling shareholders to actually have power to ensure that some employees are not overpaid.

So, no. The government is not interfering with the rights of shareholders. Since, if you assert the shareholders have that right, then currently they do not have the ability to exercise their right. This law is all about giving shareholders an ability to stop executive abuse, an ability they do not currently have.
 
darkbeaver
#8
Isn't the free and natural market supposed to regulate these things like it duz the climate? I thought greed was in.
 
Spade
#9
Quote: Originally Posted by darkbeaverView Post

Isn't the free and natural market supposed to regulate these things like it duz the climate? I thought greed was in.

It's Gawd's way!

Wait, let me think this through...
Avarice (greed) is one of the Seven Deadly Sins.
Nope, the gods say,
"Socialisme mondial: oui. Capitalisme d'Etat: non"
 

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