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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Win Smith who wrote (102673)	1/31/2009 10:22:07 PM
From: Sam	Read Replies (1) \| Respond to of 542214

Minow said all executives should follow the bonus structure of former Chrysler chief Lee Iacocca and former Disney chairman Michael Eisner, who took their bonuses in "steeply escalated" stock options over several years, betting on themselves and on their company. I pretty much agree with Minow. As long as the options are vested over at least 5-7 years. No vesting in at least the first 2 years. Don't know if you saw this Bloomberg opinion piece I posted a couple of days ago: Message 25368726 The cult of the CEO is one of the more absurd cults we've developed over the past 2 decades or so. I saw David Brooks give the standard defense on the Newshour on Friday night: companies "have" to keep their superstars or there won't be a company, lol. Where will these alleged superstars go? Where, for that matter, have they been over the past 5 years as someone--no one seems to know who except those folks on the other thread who blame Frank and Dodd and Raines and FRE and FNM--allowed trillions of dollars of fake wealth based on hollow debt to be built up, giving real dollars in bonuses to the superstars who oversaw this wunnerful buildup, and then oversaw its inevitable vaporization, hardly blinking an eye or losing any sleep or past bonuses. See Subject 22689 for a partial record since 1998 of the buildup, some of the warnings, and the collapse of the wealth mirage that the "superstars" "created."