{"id":256,"date":"2009-06-10T13:55:51","date_gmt":"2009-06-10T17:55:51","guid":{"rendered":"http:\/\/000af36.netsolhost.com\/wordpress1\/2009\/06\/10\/pay-caps-for-corporate-executives\/"},"modified":"2009-06-10T13:55:51","modified_gmt":"2009-06-10T17:55:51","slug":"pay-caps-for-corporate-executives","status":"publish","type":"post","link":"http:\/\/griendling.com\/wordpress1\/2009\/06\/10\/pay-caps-for-corporate-executives\/","title":{"rendered":"Pay Caps for Corporate Executives"},"content":{"rendered":"<p><a href=\"http:\/\/news.yahoo.com\/s\/ap\/20090610\/ap_on_go_ca_st_pe\/us_executive_pay_16\">This doesn\u2019t make sense<\/a>.<\/p>\n<blockquote>\n<p>Treasury Secretary Timothy Geithner says the Obama administration doesn&#8217;t want to place caps on executives&#8217; pay \u2014 even though it believes excessive compensation led to risk-taking that contributed to the financial crisis.<\/p>\n<\/blockquote>\n<p>OK, excessive pay packages costs taxpayers billions but the Obama administration is getting weak-kneed.&#160; So they want to pass the buck.<\/p>\n<blockquote>\n<p>Geithner said the administration will seek legislation that will permit shareholders to vote on executive pay packages, but the results would not be binding on boards of directors.<\/p>\n<\/blockquote>\n<p>So we\u2019re going to pass legislation with no teeth in it.&#160; But there is at least a kernel of a new idea that might help.<\/p>\n<blockquote>\n<p>Geithner said the shareholder measures, as well as legislation to keep corporate compensation committees independent from boards of directors, will reinforce pay guidelines that the administration released Wednesday.<\/p>\n<\/blockquote>\n<p>What does independent from boards of directors mean?&#160; Who will select them, compensate them?<\/p>\n<p>Finally, this brief article ends with this contradiction.<\/p>\n<blockquote>\n<p>Those principles encourage corporate boards to adopt pay packages that reward long-term performance rather than short-term gains.<\/p>\n<\/blockquote>\n<p>I thought the boards of directors wouldn\u2019t be involved in pay packages.&#160; WTF?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This doesn\u2019t make sense. Treasury Secretary Timothy Geithner says the Obama administration doesn&#8217;t want to place caps on executives&#8217; pay \u2014 even though it believes excessive compensation led to risk-taking that contributed to the financial crisis. OK, excessive pay packages costs taxpayers billions but the Obama administration is getting weak-kneed.&#160; So they want to pass&hellip; <a href=\"http:\/\/griendling.com\/wordpress1\/2009\/06\/10\/pay-caps-for-corporate-executives\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[106,107,5],"tags":[],"_links":{"self":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts\/256"}],"collection":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/comments?post=256"}],"version-history":[{"count":0,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/posts\/256\/revisions"}],"wp:attachment":[{"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/categories?post=256"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/griendling.com\/wordpress1\/wp-json\/wp\/v2\/tags?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}