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Reply #98: So i wonder what kind of tricks these guys will use to try and get around this limit... [View All]

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cascadiance Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 01:44 PM
Response to Original message
98. So i wonder what kind of tricks these guys will use to try and get around this limit...
Perhaps hop jobs to a different bank and try to get $500k from each one of them? Perhaps they in an oligopolic frenzy will come up with a "job trading" program between different execs to be able to inflate their salaries.

Either that or they work part time for the bank for a year, and work part time for another business that doesn't have these salary restrictions.

You can predict that these bums will try some stuff like this to work around this if it gets made in to law. Ultimately we need a more universal rule on executive compensation, or update our top marginal tax rates so that there's "no escape" for them.

And Obama's anti-trust team should also see if any games like this violate our anti-trust laws if it starts getting used too.
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  -"$500,000 is not a lot of money" Coexist  Feb-04-09 07:38 AM   #0 
  - I'd make the sacrifice and work for a measly $500,000  rurallib   Feb-04-09 07:42 AM   #1 
  - Living minimum wage, MAXIMUM wage, universal health care.  HughBeaumont   Feb-04-09 07:44 AM   #2 
  - I'd Like to Be A Klown Too and Get Paid 44MILLIONS To Fu*KUP!  DaLittle Kitty   Feb-04-09 04:38 PM   #129 
  - You are absolutely correct we must have a MAXIMUM wage  pokercat999   Feb-05-09 08:02 AM   #195 
  - Let 'Em Collapse...  KharmaTrain   Feb-04-09 07:44 AM   #3 
  - Yeah, what the heck. Let the economy collapse.  Buzz Clik   Feb-04-09 07:46 AM   #5 
     - Collapse?  ProfessorGAC   Feb-04-09 08:26 AM   #27 
  - If $500,000 was less than your annual bonus, taking a salary of $500,000 would be a big adjustment.  Buzz Clik   Feb-04-09 07:45 AM   #4 
  - well, then they need to adjust, don't they.  Coexist   Feb-04-09 07:47 AM   #7 
  - If their companies were solvent and successful, their salaries would be an internal matter.  Buzz Clik   Feb-04-09 07:51 AM   #11 
  - Where are the HB-1 visas? I have always maintained that we  tsuki   Feb-04-09 08:11 AM   #23 
  - Aha!  wryter2000   Feb-04-09 02:31 PM   #103 
  - Exactly.  AndrewP   Feb-04-09 04:01 PM   #125 
  - .  PassingFair   Feb-04-09 07:48 AM   #8 
  - Well I guess they should have saved  DoctorMyEyes   Feb-04-09 08:08 AM   #21 
  - Oddly enough, more than one of them have little liquid assets.  SmileyRose   Feb-04-09 11:16 AM   #60 
  - Oddly enough????? Fuck 'em, let them eat fucking peanut butter.  pattmarty   Feb-04-09 12:21 PM   #80 
  - Perfect. I've got some dried milk product from China they can wash it down with. nt  valerief   Feb-04-09 03:14 PM   #116 
  - In which case they may be forced to sell one of their $15million houses.  RaleighNCDUer   Feb-04-09 02:32 PM   #104 
  - Right. Should have saved instead of buying that boat  catrose   Feb-04-09 12:01 PM   #71 
  - Well, I guess they'll have to tap in to the off-shore accounts or sell their boats  dmr   Feb-04-09 08:12 AM   #24 
  - Yeah, but they're going to have a hard time getting the other 99% of us to feel sorry  grace0418   Feb-04-09 08:24 AM   #25 
  - Well, they could always moonlight.  lumberjack_jeff   Feb-04-09 09:29 AM   #37 
  - you do realize that,  reggie the dog   Feb-04-09 09:54 AM   #38 
  - I do? And you base this on what knowledge?  Buzz Clik   Feb-04-09 10:10 AM   #43 
     - faulty knowledge  reggie the dog   Feb-04-09 10:29 AM   #48 
     - No sweat -- it seems that my post was not well understood by many of the responders.  Buzz Clik   Feb-04-09 11:20 AM   #64 
     - That was inferred from the seemingly self referential mention of a  RaleighNCDUer   Feb-04-09 02:36 PM   #106 
  - You mean they might have to give up one of their jets?  Why Syzygy   Feb-04-09 10:24 AM   #46 
  - Don't get your hopes up...  oedura   Feb-04-09 08:56 PM   #158 
  - but what did they make last year? and the year before? they should have saved a little  Beaverhausen   Feb-04-09 11:27 AM   #66 
  - I kinda agree, but your comments assume that all execs were equally incompetent.  Buzz Clik   Feb-04-09 11:38 AM   #68 
  - I'm not saying they are, but if they make millions every year they really should have saved some  Beaverhausen   Feb-04-09 12:00 PM   #70 
  - Maybe not ALL, but certainly MOST. This has been going on.........  pattmarty   Feb-04-09 12:27 PM   #84 
  - There's a couple of things they don't teach you in Harvard Business School  underpants   Feb-04-09 06:04 PM   #146 
  - $500,000 was enough no so long ago  MindMatter   Feb-04-09 12:16 PM   #77 
  - yup  melissinha   Feb-04-09 07:47 PM   #156 
  - Who gives a rat's ass? (excuse me, angry at them, not you.)  robinlynne   Feb-04-09 12:53 PM   #90 
  - They can suck it up and like it  Raineyb   Feb-04-09 01:04 PM   #94 
  - hey, fuck them. I just got laid off and barely managed to get a job paying one third less  Lerkfish   Feb-04-09 02:45 PM   #108 
  - WAAAAAAAAAAAAAAAAAAA THE HUMANITY!!!!!!!!!!!!!!!!!!!!!!  Political Heretic   Feb-04-09 02:50 PM   #110 
  - Being homeless is a big adjustment and they don't care who they make homeless. nt  valerief   Feb-04-09 03:13 PM   #115 
  - Let's see - either go BANKRUPT and get NOTHING, or make Five Hundred Thou a Year...  TankLV   Feb-04-09 11:38 PM   #169 
  - I think an "adjustment" is long overdue for these churls.  mwb970   Feb-05-09 07:59 AM   #194 
  - If companies want government welfare then there should be restrictions like this.  Wapsie B   Feb-04-09 07:47 AM   #6 
  - Brilliant idea!  Seldona   Feb-04-09 08:59 AM   #33 
  - Good idea  NEOhiodemocrat   Feb-04-09 04:50 PM   #132 
  - They could even pay their fair share of corporate taxes, too!  valerief   Feb-04-09 03:11 PM   #114 
  - Welfare Corporations run by Welfare Kings, next they'll  pokercat999   Feb-05-09 08:07 AM   #197 
  - US CEOs should try to live on what Japan Airline CEO does!  Serial Mom   Feb-04-09 07:50 AM   #9 
  - Japan learned during the bubble economy that businesses who pursue money first fail  Coexist   Feb-04-09 07:52 AM   #13 
     - Saw him interviewed - very reasonable man  Serial Mom   Feb-04-09 08:00 AM   #16 
        - i agree  Blue_Tires   Feb-04-09 12:27 PM   #85 
        - We have a major CEO like that in America  DoctorMyEyes   Feb-04-09 08:20 PM   #157 
           - I applaud CEO Jim Sinegal!  Enthusiast   Feb-05-09 04:59 AM   #181 
  - Regulate the industry so there is no voodoo magic  .... callchet ....   Feb-04-09 07:50 AM   #10 
  - $500,000 would pay the salary of 13 people who make what I make  lunatica   Feb-04-09 07:51 AM   #12 
  - True  kenfrequed   Feb-04-09 10:08 AM   #41 
  - You are an advocate of socialism!  Enthusiast   Feb-05-09 05:00 AM   #182 
  - I make about 25K, so that's 20 years salary for me.  panader0   Feb-04-09 07:52 AM   #14 
  - I know, imagine how long we could live on 500,000.  sarcasmo   Feb-04-09 10:50 AM   #53 
  - No kidding I once stretched $5000 into 19 months.  rcrush   Feb-04-09 12:48 PM   #89 
  - I make 15,000 a year , perhaps rendal would like to trade with me  proud patriot   Feb-04-09 05:42 PM   #139 
  - Fuck them. Fuck them all.  bunnies   Feb-04-09 07:52 AM   #15 
  - My sentiments exactly.  Lugnut   Feb-04-09 08:52 AM   #31 
  - I'd gladly work for $500,000 a year! Please, hire me.  pleah   Feb-04-09 08:00 AM   #17 
  - then screw up royally after 1-3 years  Serial Mom   Feb-04-09 08:06 AM   #19 
     - Me, Too  ProfessorGAC   Feb-04-09 08:31 AM   #29 
  - And "I don't care what you make" is EXACTLY what  SheilaT   Feb-04-09 08:04 AM   #18 
  - Sheila, I expect they could pick someone  Enthusiast   Feb-05-09 05:02 AM   #183 
  - There are PLENTY of SMARTER people  LeftHander   Feb-04-09 08:06 AM   #20 
  - Only Till They Build Up Their Resume And Experience To Get Hired At A Company Offering Them Far More  OPERATIONMINDCRIME   Feb-04-09 11:21 AM   #65 
  - Amoral capitalists.  hologram   Feb-04-09 08:11 AM   #22 
  - When I See Tons Of Fore-Closures In The Hamptons......  remember2000forever   Feb-04-09 08:26 AM   #26 
  - The MAXIMUM unemployment payment in Illinois is currently $321/week after taxes.  grace0418   Feb-04-09 08:27 AM   #28 
  - clearly high pay for CEOs/top executive isn't buying high quality leadership, or else we wouldn't  nashville_brook   Feb-04-09 08:44 AM   #30 
  - I know a guy whose salary is in that range. He lives here  LibDemAlways   Feb-04-09 08:55 AM   #32 
  - Logic problem: the current, highly compensated CEOs are who lead their companies to ruin  Romulox   Feb-04-09 09:02 AM   #34 
  - I think it's more than the money  elizfeelinggreat   Feb-04-09 09:07 AM   #35 
  - A very big k&r nt  wroberts189   Feb-04-09 09:09 AM   #36 
  - You have to put yourself in the CEO's shoes. He's not just doing a job. He's making  bertman   Feb-04-09 09:57 AM   #39 
  - It is very hard to believe their services are worth that much  treestar   Feb-04-09 09:58 AM   #40 
  - The PIG who runs Bank of America made 20 Million last year, just pure plain  sarcasmo   Feb-04-09 10:53 AM   #55 
  - +1 on "PIG"  Enthusiast   Feb-05-09 05:06 AM   #184 
  - personal experience  NJCher   Feb-04-09 06:03 PM   #145 
  - Hey! They have to play golf!  Enthusiast   Feb-05-09 05:08 AM   #185 
  - Thats a crock of shit  Confusious   Feb-05-09 02:46 AM   #179 
  - To these people $500k is an insult  Merlot   Feb-04-09 10:10 AM   #42 
  - Unbefuckinglievable gall  bunny planet   Feb-04-09 10:11 AM   #44 
  - Contractors.  Why Syzygy   Feb-04-09 10:21 AM   #45 
  - fine then don't accept the public's money to bail you out.  WI_DEM   Feb-04-09 10:24 AM   #47 
  - We need to find these people and kick their asses. They need to be afraid to be in public.  L0oniX   Feb-04-09 10:33 AM   #49 
  - I know I had some sympathy around here someplace.  madamesilverspurs   Feb-04-09 10:48 AM   #50 
  - I'll cough up a bit of sympathy...  Cassandra   Feb-04-09 12:42 PM   #87 
  - White collar concessions. The time is way overdue  livetohike   Feb-04-09 10:50 AM   #51 
  - Out of touch with Reality. I could live quite well with 500,00. I hope he gets this passed.  sarcasmo   Feb-04-09 10:50 AM   #52 
  - Why aren't these people in job retraining classes at their community college?  jgraz   Feb-04-09 10:51 AM   #54 
  - it's about time these assholes made some adjustments themselves  samsingh   Feb-04-09 11:03 AM   #56 
  - I've seen this firsthand and Mr. Reda is FULL OF IT  Lorien   Feb-04-09 11:06 AM   #57 
  - You see that a lot in sports, the next time you see  MikeNearMcChord   Feb-04-09 07:45 PM   #155 
  - I hereby volunteer to kill any company for a mere quarter million a year.  Vinca   Feb-04-09 11:09 AM   #58 
  - Error - you have already recommended this thread 92 times.  SmileyRose   Feb-04-09 11:12 AM   #59 
  - One commentator said that the CEO of Goldman Sachs made $68.5 million  question everything   Feb-04-09 11:17 AM   #61 
  - Maybe just firing the exec team  catrose   Feb-04-09 12:04 PM   #72 
     - When the original bailout was being negotiated,  Control-Z   Feb-05-09 05:31 AM   #189 
  - welfare comes with rules  busybl   Feb-04-09 11:17 AM   #62 
  - they'll have to use illegal aliens  Enrique   Feb-04-09 11:18 AM   #63 
  - $500,000 a year!  Chisox08   Feb-04-09 11:35 AM   #67 
  - They literally destroyed our economy; they should feel grateful just to have jobs.  closeupready   Feb-04-09 11:45 AM   #69 
  - If you work for minimum wage, it's 37 years' pay. n/t  nichomachus   Feb-04-09 12:07 PM   #73 
  - American jobless, homeless, no healthcare-$500K a SACRIFICE?  katty   Feb-04-09 12:10 PM   #74 
  - Righteous K&R!  berni_mccoy   Feb-04-09 12:12 PM   #75 
  - FYI - POTUS Makes $400k  NashVegas   Feb-04-09 12:14 PM   #76 
  - Thats an interesting point you raise - contract pay  yodoobo   Feb-04-09 12:17 PM   #78 
  - Let's see if I can make this clear: THEN GO BANKRUPT if you don't want OUR money. Period.  TankLV   Feb-05-09 12:02 AM   #170 
     - Why are you yelling at me.  yodoobo   Feb-05-09 10:06 AM   #203 
  - Talk about Pampered, Selfish and Greedy  fascisthunter   Feb-04-09 12:19 PM   #79 
  - Bullshit.  byrok   Feb-04-09 12:22 PM   #81 
  - It's a hell of a lot of money to  DearAbby   Feb-04-09 12:22 PM   #82 
  - ...then just send $500,000 to me, and we'll forget about it. nt  old mark   Feb-04-09 12:22 PM   #83 
  - These are the same assholes who were whining about "wealth redistribution".  D23MIURG23   Feb-04-09 12:35 PM   #86 
  - That's about 16-17 years of income pre-tax for us and  Skidmore   Feb-04-09 12:42 PM   #88 
  - How will we live without these delicate geniuses who so brilliantly managed  TwilightGardener   Feb-04-09 12:55 PM   #91 
  - ARGHHHH!!!!!!  prostock69   Feb-04-09 12:56 PM   #92 
  - The way they were doing things didn't work out too well either.  RC   Feb-05-09 04:01 PM   #205 
  - K&R  Usrename   Feb-04-09 12:57 PM   #93 
  - Such righteous anger!  CLANG   Feb-04-09 01:09 PM   #95 
  - Outsource? Sounds like a job Americans just won't do  AllyCat   Feb-04-09 01:18 PM   #96 
  - Jamie Dimon from JP Morgan compares banking to serving in Vietnam.  siligut   Feb-04-09 01:34 PM   #97 
  - Having been at the bank yesterday I can attest that he's right  Flirtus   Feb-04-09 05:03 PM   #135 
  - So i wonder what kind of tricks these guys will use to try and get around this limit...  cascadiance   Feb-04-09 01:44 PM   #98 
  - The problem with this is that it is not retro-active  ut oh   Feb-04-09 02:16 PM   #99 
  - that's 14 YEARS  guitar man   Feb-04-09 02:23 PM   #100 
  - wow, thanks for all the recs for my misspellings! sorry bout them  Coexist   Feb-04-09 02:25 PM   #101 
  - Well done. Edit it a bit and email it out as an LTTE to as many papers as you want.  Hekate   Feb-04-09 02:28 PM   #102 
  - It's not for somebody at that level.  taught_me_patience   Feb-04-09 02:34 PM   #105 
  - maybe they should try a three hour commute from NJ n/t  Confusious   Feb-05-09 02:48 AM   #180 
  - It's plenty for a company that's going under.  Raineyb   Feb-05-09 10:22 AM   #204 
  - any executive that can not manage to live on half a million cannot manage a company  Lerkfish   Feb-04-09 02:43 PM   #107 
  - Wow, who would ever admit in public that they could not live on  aquamarina   Feb-04-09 02:49 PM   #109 
  - Besides Paris Hilton?  RaleighNCDUer   Feb-04-09 03:39 PM   #119 
  - This is the place. Now is the time. OUTSOURCE CEOs.  mac56   Feb-04-09 02:56 PM   #111 
  - Well then they should go to the other firms and bring those  ooglymoogly   Feb-04-09 02:58 PM   #112 
  - Good, people who think $500K isn't a lot of money shouldn't be running these companies.  Incitatus   Feb-04-09 02:58 PM   #113 
  - There is really nothing that one person could do that would be worth  The_Casual_Observer   Feb-04-09 03:27 PM   #117 
  - Cry me a river  cherish44   Feb-04-09 03:37 PM   #118 
  - If they need lunch money, let 'em do what I do for it--  wizstars   Feb-04-09 03:47 PM   #120 
  - Don't worry, CEOs, I can see someone coming to help you.  Deep13   Feb-04-09 03:48 PM   #121 
  - People who make that kind of money...  JuniperLea   Feb-04-09 03:51 PM   #122 
  - I haven't forgotten.  Deep13   Feb-04-09 05:46 PM   #141 
  - if the "talented" CEOs go elsewhere then who is left to run the companies?  dem mba   Feb-04-09 03:53 PM   #123 
  - While I don't disagree with this...  RoadRage   Feb-04-09 03:57 PM   #124 
  - While there is no perfect solution, this sends a clear message -  closeupready   Feb-04-09 04:12 PM   #127 
  - Then let them go make the Japanese and Chinese corporations lose money.  Telly Savalas   Feb-04-09 07:14 PM   #154 
  - "Is the replacement as good...?" Are you serious???  Daemonaquila   Feb-04-09 09:30 PM   #162 
  - They could choose someone at random that  Enthusiast   Feb-05-09 05:16 AM   #186 
  - You don't understand. These over paid CEO's and Board members are out of touch.  RC   Feb-05-09 04:25 PM   #206 
  - As the saying goes....fuckin' A right.  eyepaddle   Feb-04-09 04:03 PM   #126 
  - The attitude of the elite will not change in this country until  whatchamacallit   Feb-04-09 04:25 PM   #128 
  - I thought we did good making $90K combined this year  pasto76   Feb-04-09 04:41 PM   #130 
  - I don't make it any more  Tab   Feb-04-09 04:44 PM   #131 
  - The rules will allow boards to grant deferred compensation...  Scooter24   Feb-04-09 04:53 PM   #133 
  - AWESOME post! . K&R  Turborama   Feb-04-09 05:01 PM   #134 
  - ...  NorCalDem   Feb-04-09 05:24 PM   #136 
  - Ha ha - I can see them in interviews - I quit my last job cause they had  geckosfeet   Feb-04-09 05:26 PM   #137 
  - I think this restriction is likely to get shot down in the courts. n/t  crimsonblue   Feb-04-09 05:34 PM   #138 
  - On what grounds?  closeupready   Feb-04-09 06:13 PM   #149 
  - Fuck THOSE courts! nt  Enthusiast   Feb-05-09 05:18 AM   #187 
  - Who wants to head a loser company that needs a government bailout?  AntiFascist   Feb-04-09 05:45 PM   #140 
  - Brilliant young executives who want to prove themselves  Lorien   Feb-04-09 06:10 PM   #148 
     - No reason, then, not to accept the limited salary...  AntiFascist   Feb-04-09 06:36 PM   #152 
  - Jesus, I had no idea how poor I was  condoleeza   Feb-04-09 05:56 PM   #142 
  - The salary range should be $10 - $20 annual for these corporate assholes.  undeterred   Feb-04-09 05:59 PM   #143 
  - I think President Obama  Politicalboi   Feb-04-09 06:01 PM   #144 
  - How about this? Instead of $500K, let them get up to $5 million in salary, but then  4lbs   Feb-04-09 06:06 PM   #147 
  - Bottom line: they will find plenty of qualified people to run the companies  MasonJar   Feb-04-09 06:13 PM   #150 
  - Where do I send my resume?  rpannier   Feb-04-09 06:28 PM   #151 
  - I think I'll take the hit and take the job for 500k. *sigh*  MrsBrady   Feb-04-09 06:45 PM   #153 
  - outsource all the frigging executive jobs.  leftofthedial   Feb-04-09 09:01 PM   #159 
  - why is it okay to ask union workers to give up perks, but not executives? n/t  RoccoR5955   Feb-04-09 09:01 PM   #160 
  - +1, Rocco!  Enthusiast   Feb-05-09 05:20 AM   #188 
  - This is sad and disgusting!  CLANG   Feb-04-09 09:05 PM   #161 
  - no wonder the economy is in tatters if these guys are that far removed from reality  Connonym   Feb-04-09 09:45 PM   #163 
  - Only playing Deal or No Deal should they say 500K isn't much money  benld74   Feb-04-09 09:47 PM   #164 
  - It would be pretty terrible  DissedByBush   Feb-04-09 10:03 PM   #165 
  - Then LET THEM GO BANKRUPT - and CLOSE THE COMPANY.  TankLV   Feb-05-09 12:23 AM   #172 
  - Yes, let them  DissedByBush   Feb-05-09 01:18 AM   #174 
     - We're not talking about Steve Jobs.  Hello_Kitty   Feb-05-09 02:32 AM   #178 
  - He would win? In front of what jury?  Hello_Kitty   Feb-05-09 02:29 AM   #176 
  - If it weren't so cold out I'd stand on a corner hold a sign say will work for $500,000!  pam4water   Feb-04-09 10:06 PM   #166 
  - Compared to ?? The burn rate of GM? Obama better focus on the solution, not this symbol!  L. Coyote   Feb-04-09 10:15 PM   #167 
  - This way  kitfalbo   Feb-04-09 10:29 PM   #168 
  - Highly recommended. n/t  Stand and Fight   Feb-05-09 12:19 AM   #171 
  - Yet UAW Workers Getting $28/Hr Is Too Much Money  Yavin4   Feb-05-09 12:57 AM   #173 
  - What "other firms" would these executives be going to?  Hello_Kitty   Feb-05-09 02:26 AM   #175 
  - Awesome Post  AyanRand Is Dead   Feb-05-09 02:31 AM   #177 
  - kr  Norrin Radd   Feb-05-09 05:57 AM   #190 
  - 500,000? Oh man, work one year and I would not be in debt anymore  carlyhippy   Feb-05-09 06:22 AM   #191 
  - Let those corps die - new ones WILL take their place  Sarah Ibarruri   Feb-05-09 06:28 AM   #192 
  - I'll run any company into the ground for $499,999.99.  Ganja Ninja   Feb-05-09 07:13 AM   #193 
  - My recipe is a gun and 5,000 Benjamin Franklins  MicaelS   Feb-05-09 08:07 AM   #196 
  - Option 1: Take 500 000. Option 2: Leave. Option 3: Pitchfork in your ass, head in a noose. Pick.  Evoman   Feb-05-09 08:13 AM   #198 
  - I think I know a way to set this straight. What say we start  salguine   Feb-05-09 08:21 AM   #199 
  - Well, for $500,000/year, I can tell you this much.  W_HAMILTON   Feb-05-09 08:25 AM   #200 
  - Kicked, recommended, and appropriated for (hopefully) a viral e-mail  NinetySix   Feb-05-09 08:28 AM   #201 
  - There's your fundamental disconnect right there.  Orsino   Feb-05-09 08:57 AM   #202 

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