4 ms·
This is an incredibly sneaky move by an administration that railed CEOs for receiving large bonuses and salaries when they are running companies that are failin
by phsr 16y ago
This is an incredibly sneaky move by an administration that railed CEOs for receiving large bonuses and salaries when they are running companies that are failing and need to be bailed out. Seems very two faced to me.
- mseebach 16y agoIf you're cynical you could argue that it's because it's harder to rail against large bonuses if there's real shareholder democracy.. A baptists/bootlegger alliance if you will.
- yummyfajitas 16y agoObama is probably doing it because it could open the door for shareholders to engage in asset stripping (selling off corporate assets and shut dow the company). Asset stripping, while good for shareholders and the economy at large, tends to be bad for unions. (A hypothetical example: consider a company with 1 billion in salable assets, but no hope for future profits based on existing business due to union costs. The best way to create shareholder value is to shut down the company and sell the corporate assets. The current CEO probably likes his job and doesn't want to be "the guy who killed BigCo". )