Corporate CEO Compensation - Part II

I'm sitting at the kitchen table this morning reading the newspaper while I'm eating breakfast, when I see a article about CEO bonuses from last year. It seems $18 billion was given out. President Obama is upset that they receive that much in a failing economy. No mention of who got what, how many, etc. The article said that this was less than what was given out in bonuses last year. Later in the morning, I'm driving to one of my few jobs this time of the year and I hear that Democrat New York Governor David Patterson is bemoaning the fact that New York's income tax revenues are way down because of the reduction in Executive bonuses since last year. HUH? Hey, Democrats - Which way do you want it? Do you want to tell us what we can make or do you want our money (actually their money, they just tell us how much of it we can keep)?


P.S. So there is no confusion, I do favor telling execs what they can make if they have received any bailout money from our tax dollars, but we shouldn't be bailing them out to begin with. They were failing, so by bailing them out we are rewarding failure. Is that what this country stands for???

The Government is spending your money

In view of the HUGE "stimulus" being crafted in Washington, I thought I'd pass along a couple of quotes.
This is a very interesting one(also very true)sent by a friend of mine. Thanks, Steve

"You cannot legislate the poor into freedom by legislating the wealthy
out of freedom. What one person receives without working for, another
person must work for without receiving. The government cannot give to
anybody anything that the government does not first take from somebody
else. When half of the people get the idea that they do not have to work
because the other half is going to take care of them, and when the other
half gets the idea that it does no good to work because somebody else is
going to get what they work for, that my dear friend, will prove the end
of any nation. You cannot multiply wealth by dividing it."

~~~ The late Dr. Adrian Rogers , 1931 to 2005 ~~~

“We have tried spending money. We are spending more than we have ever spent before, and it does not work... I say after eight years of this administration, we have just as much unemployment as when we started -- and an enormous debt to boot.”
- Henry Morgenthau (FDR's Treasury Secretary)

Corporate CEO compensation

CEO's in some various industries have been receiving huge bonuses and salaries. Many people in America look at these and say "That is outrageous". Could be, but you know what -it's none of our business. Corporations are publicly held companies owned by stockholders and have a Board of Directors which determines executive compensation. If the stockholders feel the compensation is excessive they have the power to change it. With our free market system, if you feel a certain corporation is spending too much on Executive compensation, you can go elsewhere with your business. A lot of people feel the government should step in and limit executive compensation. This is the old class warfare argument that Democrats are so good at keeping up front and right in your face. "Those horrible, evil, corrupt corporate types" (yes, there are some, just like there are some embezzlers in your local Covenience Store). Please tell me how the government limiting executive pay is going to improve your life. Did you ever hear of incrementalism? The government starts with a small regulation on Executive compensation, then a few years later they think "you know those Middle Management types seem to be overpaid, maybe we should regulate what they earn. How long will it be before they are telling you what you can earn? If you think that won't happen, you've been living in a cave for the past 40 years!

Where I stand

The Federal Government (according to that thing called the Constitution of the United States) is empowered to provide us with two things - security at home and abroad (i.e. - Police and the Military) and the infrastructure (i.e. - roads, bridges, ports, etc.). Items such as welfare, health care, education, social programs, etc. are not in the Constitution. The preamble to the Constitution states that the Government shall promote the General Welfare, not provide it. Get a copy and read the Ninth and Tenth amendments. Too bad our "representatives" in Washington don't understand that or chose to ignore it. Don't they agree to uphold the Constitution when they are sworn in. Enough said for now - to be continued.

Getting started

I'm starting this blog because I need to get my views, opinions, and frustrations out there. Our local paper only allows one letter to the editor every thirty days and I have a lot more to say than that about how this Country and State are being run. I constantly have thoughts running through my mind about what I feel is wrong and what is right. I will be writing about that stuff on a fairly regular basis. Much more during the Winter than the summer when I will be much busier with my Pest Control Business. I have included you in my "Subscription" list. If you don't want to read my rantings, please feel free to let me know and I will remove you (no hard feelings). You can always bookmark it if you want to check in from time to time or you can sign up to "follow" it so you get to see any new "posts" I make. If you have any friends and/or family that you think might be interested please feel free to let them know.
Jon