Over/under on number of posts before the phrase "class warfare" appears?
I'm not a fan of citigroup. I'm not sure what the solution to their problems is, but there are a LOT of problems. Wonder how this decision will reflect in operations over the next few months.
The board is not bound by the vote of investors...ridiculous as that is....so they could turn around and give the Execs they pay and bonus anyway.
The point is I believe people are starting to realize finally that these CEOs are utterly totally overpaid its gone beyond reason
I'm not sure, honestly. I have no idea what a CEO for a world conglomerate like Citigroup actually does. I'd imagine it's probably hard to fill these positions with quality people, so I'm sure it's necessary to provide increasing incentives to get the right people in. I think, perhaps, the issue is not necessarily pay, but perhaps the selections being made for positions of leadership.
While kids in DISD use history textbooks that end at WWII, the former super intendent was rolling in dough with little to show for his leadership. But I'd accept that salary level for somebody who actually sought to improve a district that is as prone to failure as DISD is.
It's all about results, in other words. If you expect the man running Citigroup to get good results but you only want to pay him $1 million to do it you're probably not going to get much for your money.
I see no problem with the salaries they want/make.
Many are worth multiples of it, many nothing.
Hedge Fundies routinely make Tens/Hundreds of millions a year.
Why should the head of Citi make less than an a Guard for the Cleveland Cavs?
What they are worth to society is less clear (er, clearly less) and can then be regulated by means of the Buffett Rule, or Buffett Rule+.
The latter being say a 50% rate on income over $5 million per year.
You know, the way it was, actually far less punitive, than from the 1930's until Reagan, with 70%-90% Top rates. (when we were 'socialist' and had a thriving middle class)
None of them are worth what they are being paid...
No offense, but since you aren't the CEO or board member of a multi-national corporation, I'm afraid you're unqualified to judge.
Hopefully all shareholders will start rejecting these Huge salaries and bonus packages for CEOs especially those that fail.
At an otherwise-placid annual shareholder meeting, Citigroup Inc.’s
shareholders dealt a blow to management and the board by rejecting ratification of the bank’s executive-compensation proposal. At Tuesday’s meeting, held outside of New York City for the first time, 45% of votes cast approved the proposal put forward by the board to approve executive compensation for five of the top executives whose compensation must be disclosed. The vote was required by law.
Citi Shareholders Reject Pay Proposal - Wall Street News online coverage of breaking news and current headlines from the US and around the world. Top stories, photos, videos, detailed analysis and in-depth reporting. - Wall Street News
No offense, but since you aren't the CEO or board member of a multi-national corporation, I'm afraid you're unqualified to judge.
Only the very wealthy should decide what the very wealthy are worth!
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