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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.96+0.3%3:59 PM EST
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To: Lizzie Tudor who wrote (70965)8/28/2006 5:51:13 PM
From: RetiredNow  Read Replies (3) of 77400
 
One thing is for sure. The middle and lower classes are really suffering as CEO's get paid increasingly ridiculous sums out of all proportion to what effective incentives really mean. Does getting paid $200 million a year really make that much of a difference to someone who makes $100 million a year? If not, then why are you paying them the extra $100 million per year? If pay is no longer providing an incentive because they are already billionaires, isn't the board failing in its duty to find the RIGHT incentive for these people?

I don't know the answers to these questions, but I do believe something is horribly broken when the rich to poor divide gets to be this great. Because class mobility is the foundation of a well-functioning Democracy. If you get all the money concentrated in a few hands, then all the power gets concentrated too and that works to destroy a Democracy. Look at what's happened recently in the US. The minimum wage hasn't been raised in a couple decades, yet Congress has given itself plenty of raises. Social Security is on its way to going bust, yet Congress voted themselves a completely separate pension plan. This is what happens when the people lose the money and the power.

Oh and btw, I'm a Republican, but I think things have gone too far to the point of endangering our Democracy and our markets. Which brings me back to Cisco. Maybe Cisco's CEO refusing to scrap options or cut back on them is a reflection of what I'm talking about above? When those in power don't even believe they have to do what is right for the shareholders anymore, you have to believe that we have a very real problem on our hands.
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