CEO Pay And Severance Packages Of 2007

[Neomega]

People are strange. If I had several million dollars put away and could live off the interest, I would never work another day in my life. Wtf does someone need to work to earn so much friggin money anyway? I dont get it.

I asked a millionaire this question once.
He told me, "because it's a game"

 

[Grisu]

People are strange. If I had several million dollars put away and could live off the interest, I would never work another day in my life. Wtf does someone need to work to earn so much friggin money anyway? I dont get it.

more, of course. for some it's never enough

Personally, I never minded the high pays for top managers that much. BUT with that high a salary there should be responsibility and accountability as well. So if they mess up, the should be hung (metaphoricall) high.

but unfortunately, they get their money as well as a ridiculous severance pay even if they mess up as has been shown by the case of Swissair (for example) when the very managers that rode it to its doom still got millions for their good work.....

 

[JerichoHill]

Is the housing meltdown the fault of these CEO's? Not in the slightest.

It doesn't say how long the Citi guy was there, But the Home Depot guy was there for 6 years, during which I'm sure the company performed very well, before the slump in housing.

You have no idea what caused the housing meltdown do you? Financiers carry alot of the blame for what occured.

 

[JerichoHill]

They get high rewards because it's a high-risk job. Small decisions taken could be highly influential later on, and the company wants the best it can get in order to minimise these decisions.
In order to get qualified people it needs to offer the CEOs more money than anyone else. Perhaps if the companies had offered more money they wouldn't have done so badly?

CEOs are like sports coaches. Too much credit for the good, too much blame for the bad. And they're shuffled around like a magic shell game because its good press.

What does Buffett make again? Yeah. Obviously the greatest investor of our generation doesn't need 50 million to get motivated in the morning.

Nice place for a billionaire. Kinda looks like a typical upper middle clas American home (it is, its worth is 300K)

 

[JollyRoger]

People are strange. If I had several million dollars put away and could live off the interest, I would never work another day in my life. Wtf does someone need to work to earn so much friggin money anyway? I dont get it.

If you are the type where several million is enough, you are likely not the type that can accumulate several million to begin with.

 

[RedRalph]

Nice place for a billionaire. Kinda looks like a typical upper middle clas American home (it is, its worth is 300K)

THAT COST £300K????????????? ARE YOU FIDDLESTIXIN SERIOUS?????????????????????

 

[JerichoHill]

THAT COST £300K????????????? ARE YOU FIDDLESTIXIN SERIOUS?????????????????????

Actually, Buffet bought that home in 1960 for about 31 thousand. That was when he was just getting the ball rolling. There's a home in his neighborhood that just foreclosed at 175K (its kinda a beater).

Just some proof that CEO overpay is a serious issue that even this free-market loving libertarian can understand and dislike.

Just for comparison, this is a picture of my home in DC (during construction) that runs for 800K now (probably in reality its worth 600K, but you know, housing bubble. It was purchased at about 200K and I did about 130K in addition construction.