One way to make inroads to fixing the economy

[Simon_Cowbell]

A line has to be drawn on top executive compensation for any company involved in the upcoming mega bailout. Enough is enough. Compensation has to be limited to a realistic multiple of the lowest paid employee. Using a multiple of 30, with the lowest paid employee receiving $10 per hour, the chief executives total compensation could not exceed $300 per hour or $624,000 per year. The beauty of the system is its ability to grow the middle class. That lowest paid employee would in no time have a pay increase.

If this system would be adopted by most companies, America would become economically and socially much healthier.

 

[TheSportsPredictor]

Salary caps for everyone!

 

[Football_Bat]

A line has to be drawn on top executive compensation for any company involved in the upcoming mega bailout. Enough is enough. Compensation has to be limited to a realistic multiple of the lowest paid employee. Using a multiple of 30, with the lowest paid employee receiving $10 per hour, the chief executives total compensation could not exceed $300 per hour or $624,000 per year. The beauty of the system is its ability to grow the middle class. That lowest paid employee would in no time have a pay increase.

If this system would be adopted by most companies, America would become economically and socially much healthier.

Looks like Wal-Mart's CEO is headed for the food stamp line then.

 

[hockeybeat]

A line has to be drawn on top executive compensation for any company involved in the upcoming mega bailout. Enough is enough. Compensation has to be limited to a realistic multiple of the lowest paid employee. Using a multiple of 30, with the lowest paid employee receiving $10 per hour, the chief executives total compensation could not exceed $300 per hour or $624,000 per year. The beauty of the system is its ability to grow the middle class. That lowest paid employee would in no time have a pay increase.

If this system would be adopted by most companies, America would become economically and socially much healthier.

As much as I agree with this sentiment--especially considering how many people may have had their savings wiped out--it will never take. CEO's won't allow it.

I posted this yesterday on the insolvency thread, but I think it bears repeating here. http://www.nypost.com/seven/09212008/news/regionalnews/execs_crash__earn_130099.htm

 

[cranberry]

Salary caps for everyone!

It's the only way small-industry companies can compete for the most unscrupulous executives.

 

[slappy4428]

A line has to be drawn on top executive compensation for any company involved in the upcoming mega bailout. Enough is enough. Compensation has to be limited to a realistic multiple of the lowest paid employee. Using a multiple of 30, with the lowest paid employee receiving $10 per hour, the chief executives total compensation could not exceed $300 per hour or $624,000 per year. The beauty of the system is its ability to grow the middle class. That lowest paid employee would in no time have a pay increase.

If this system would be adopted by most companies, America would become economically and socially much healthier.

Looks like Wal-Mart's CEO is headed for the food stamp line then.

Who knew a big company like that could be run by someone making 100K?

 

[TheSportsPredictor]

Remember when Simon Cowbell wanted salary caps for everyone? Where is he these days?

 

[cjericho]

Remember when Simon Cowbell wanted salary caps for everyone? Where is he these days?

maybe he's getting Obama to go with his proposal for Stimulus No. 2.

 

[YGBFKM]

Maximum wage now! [/JelloBiafra]