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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: The Reaper who wrote (171160)	12/14/2008 4:03:27 AM
From: energyplay	Read Replies (1) \| Respond to of 306849

A large fraction of the upper management (especially in the auto companies) does not want just money but social status, being a top dog, being part of the "group" and perks. Many of them have a few million already. Many of these people can move to Arizona (or Palm Springs) and retire, if their kids are past college, or they have enough to pay for college. So they want the private jets, private dining rooms, paid country clubs, limos, etc. It is sort of the business equivalent to the rock star life style. Many of these people can get positions or consulting work with John Deere, Caterpillar, General Dynamics, etc. So a 'reasonable' mulitple of the average salary may not work. If these people were reasonable, they could have retired years ago. Salaries can come down from the > 5 million level, but they won't go much under 1 million. And they will find a way to keep a bunch of perks.