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Re: Minimum wage: A rich complaint [Re: Economist]
    #6131332 -

Quote:
Redstorm got it, basically successful executives are in such overwhelmingly high demand that they can ask for anything and recieve it. Over time, they've learned that some things are more worthwhile to ask for than others (such as guaranteed severance packages) and thus they all begin to ask for them as a condition of employment.


I see what you guys mean, I just had no idea that the demand was so high and the supply so low. I guess I can also see why... it is a chicken and egg problem... I want a good CEO to run my company, but all the good CEOs are running companies and have no desire to leave stability for risk... so I either pay out the nose to bring somebody that is proven good onboard, or hire an unknown/unproven leader.


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Re: Minimum wage: A rich complaint [Re: Seuss]
    #6131355 -

Are execs really in so much demand? Is there anyone chomping at the bit to hire the execs who ran the privatised railway service into the ground whilst awarding themselves enormous salaries at the same time? I doubt it. There are dozens of examples of execs running companies into the ground whilst still receiving enormous pay rises that have no relation whatsoever to performance.

While there will be a tiny fraction of "star" execs, the vast bulk of them will very ordinary and will recieve a salary that bears little relation to performance or profit.

Edited by Alex213 (10/04/06 05:07 AM)

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Re: Minimum wage: A rich complaint [Re: Economist]
    #6131358 -

'm sorry but your claim just doesn't hold up. No board would ever appoint a CEO because of a fictional "going rate", that doesn't make any logical sense at all

Well it's not my claim, it's how executive salaries are determind unless you've evidence the author of the article is lying. It certainly makes sense. Executives setting "going rates" for each other means their own salaries skyrocket too.

Yeah, it's called being paid in stock (or stock options) and it's a VERY common form of executive compensation

That's not quite what I said. What I was interested in was whether you have an example where an exec who has run a company into the ground has seen his salary plummet accordingly. Not share options or bonus's - his actual salary.

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Re: Minimum wage: A rich complaint [Re: Alex213]
    #6131383 -

> Are execs really in so much demand?

Not the middle management types, but the high end types that sit on the board. There is a big difference. One of my engineering management profs was a retired VP from P&G that got bored and volunteered to teach at the engineering college I attended. I can't put it into words, but you could really feel the difference between this guy and your average boss. Imagine the difference taking a phyics class from a nobel laureate and a high school math teacher. He was on an entire different playing field. It was an amazing semester. If it hadn't been for this experience, I probably would still equate CEO as glorified shift manager at McDonalds.

> There are dozens of examples of execs running companies into the ground whilst still receiving enormous pay rises that have no relation whatsoever to performance

Exactly! Dozens. A fraction of a percentage of the Fortune-1000 execs that are not running companies into the ground.

I'm starting to see where my mistakes were originating. Thanks Economist and Redstorm... and Alex as well for getting me to think.


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