February 09, 2009

Carly Fiorina on compensation caps

"We deserve the money we con companies into giving us. I guess you could also say the money we get from our friends on the board who are members of the compensation committee."

I've got a suggestion, Carly, that makes sense. How about no executive may make a salary that exceeds 20 times the pay of the lowest paid worker? That's, what, $200k for someone at Wal Mart? Sounds about right.

Yeah, I'd be THRILLED with that and I think it's appropriate. As for stock grants/options, they should be expensed as a cash charge and they should be distributed evenly to all employees. And no long term contracts.

The age of the celebrity CEO and their cronies on the board is OVER. They're losers and it's time they got cut off. If Buffett can find talented people to run his companies and not pay them outrageous salaries larded with stock options while performing exceptionally, then surely every other company can as well.

Especially since many celebrity CEOs (like Carly) are only good at losing shareholder's money.


Posted by mcblogger at February 9, 2009 10:28 AM

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