Slashdot Mirror
Expose on Insider Loans
Ctimes2 writes "Everyone's been grousing a lot lately about high priced CEO's and compensation packages, in no small part due to the 'Enron incident'. Business2.0 has a lengthy but enjoyable feature about how corporate loans became 'compensation packages', forgivable, sometimes tax free the and norm for corporations. And Slashdot's favorite whipping boy Microsoft, while not leading the pack, certainly isn't the poster child for trustworthy finance. More importantly (or rather, to our eternal annoyance), the article provides some much needed information trolls can add to their 'CEO's are bad!' rants: "Insider lending added thrust to the long surge in executive pay that has pushed the average major-company CEO's compensation from 45 times that of the average worker in the early 1970s to about 500 times worker pay today.""
This is great...
/. tradition.
He just told you he built this company
with his bare hands, and now you tell
him he's hired hands?
Oh, I see, you just didn't read his post
at all, before replying, in the great
Considered harmful.
I'm slamming him because he thinks he deserves a lot of money for effort alone.
He never said that. He said he deserves the rewards of his effort-- the profits of the company he created.
And he's right.
Its the whiners about high CEO pay who think they deserve the same amount of reward for the same amount of effort-- except that their effort is unskilled!
Sheesh.
Oh, and your definition of fraud is, well, fradulent.
You should buy a book on valuing companies ( there are lots of them, "Buffettology" is a good one) before you make absurd claims about what a company is worth.
Yeah, and you guys panned the ipod too: http://apple.slashdot.org/article.pl?sid=01/10/23
You'll notice names like Enron, Dynegy, Tyco, WorldCom, and Adelphia.
I don't doubt for a second that the Linux companies would be granting loans and stock options left and right, if they had any money. Wasn't ESR openly gloating about the value of his options? "Hello Pot, meet Mr Kettle".
Yet another way that liberal "tax them to hell, they're all too rich anyway" bigots have killed people.
Its time to eliminate progressive taxation-- its institutionalized bigotry.
Yeah, and you guys panned the ipod too: http://apple.slashdot.org/article.pl?sid=01/10/23
Does a CEO *really* have skills that are 1000 times harder to obtain than an engineer, justifying a 1000x pay ratio to the engineer?
A pointless question since CEOs are not paid 100 times what an engineer makes, let alone 1000.
I doubt you could really make a case for much more than 10 times.
And yes, the CEO is earning that money. That is simple economics.
Yeah, and you guys panned the ipod too: http://apple.slashdot.org/article.pl?sid=01/10/23
Yes, nothing will save social security when the democrats ane republicans raid it regularly.
The very sad thing is that the marxists (read democracts) go on and on about Enron when the fraud committed by enron was a small amount over a couple years and was quickly cautght.
The fraud that is the social security system has been going on for 50 years, and is ignored by these same people!
And what's even more unacceptable is that nobody lost money in enron who didn't voluntarily take on the risk.
You refuse to pay into the social security pyramid scheme and you go to jail or get shot.
Personally, when compared to the wholesale fraud that is the Federal government, the "dishonesty" of CEOs pales. At least with companies there are checks and balances-- and anyone who loses money was taking a risk to begin with.
When the feds come knocking, they are forcing you to "invest" at gunpoint.
Yeah, and you guys panned the ipod too: http://apple.slashdot.org/article.pl?sid=01/10/23