Thursday, January 29, 2009

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???

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