That's not what's happening.

Post #316,116 by Another Scott 10/23/09 4:09:55 PM Reply	That's not what's happening. These folks get paid by more than just a salary. http://www.bloomberg...&sid=am08bxRGeopk Oct. 23 (Bloomberg) -- Obama administration pay cuts ordered at seven taxpayer-rescued companies leave 66 executives -- about half those reviewed -- with total long-term compensation of at least $1 million. Multimillion-dollar packages were approved for 22 employees at GMAC Inc. and 18 at Citigroup Inc., according to reports yesterday from Kenneth Feinberg, the Treasury Department pay master who ordered cuts that shift pay to long-term stock awards. FeinbergÂs report on New York-based Citigroup, Bank of America Corp. and five other companies getting multiple bailouts didnÂt identify employees or disclose previous compensation. The figures show that Wall Street, even after compensation was slashed by half in some cases, remains lucrative for top executives. The average American worker earned about $50,000 last year, according to the U.S. Census Bureau. [...] The highest approved pay is $10.5 million for Robert Benmosche, chief executive officer of New York-based American International Group Inc., the insurer whose bailout totals $182 billion. That includes a cash salary, a so-called stock salary and long-term restricted stock. Four other AIG executives will get packages exceeding $1 million. BenmoscheÂs pay was previously approved. Cash v. Stock ÂThere is entirely too much reliance on cash and thereÂs got to be a better way to tie corporate performance to long-term growth,Â Feinberg said yesterday in Washington. ÂIÂm hoping that the methodology we developed to determine compensation for these individuals might be voluntarily adopted elsewhere.Â Feinberg focused on reducing cash pay in favor of stock that can be sold beginning in 2011. For example, the three highest-paid executives at New York-based Citigroup will receive $475,000 each in salary and $9 million in total long-term pay. [...] I fail to see what is so draconian about this, especially when many of these folks were making tens-of-millions in total compensation just a year or two ago. Presumably they have substantial savings (unlike most of us). An awful lot of people work in NYC and make an awful lot less than that - after cut - amount. E.g. http://www.printthis...F&partnerID=73272 And is the only alternative to punish management (or to have them share in the pain that the company is going through) to fire them? If so, I guess Jobs has no business working for Apple. FWIW. Cheers, Scott.
Post #316,119 by crazy 10/23/09 4:40:01 PM Reply	I'll tell you why! It's the slippery slope, dammit. I/me/my favorite ethnic group/company/ sports team are next. The brownshirts are coming. Get ready to fight! Oh, sorry. Was channeling someone else. Can you guess who?
Post #316,121 by beepster 10/23/09 4:48:01 PM Reply	If you choose not to see it don't blame me when it spreads beyond this, which it will. Seems we spent many years fighting a government controlled economy...and now everyone seems just peachy when we start doing exactly the same thing. Serves those rich bastards right. From each according to his ability, to each according to their needs. Done with this thread. I will choose a path that's clear. I will choose freewill.
Post #316,152 by crazy 10/24/09 12:43:52 PM Reply	I had a great response And then got this on post: HTTP Status 500 - type Exception report message description The server encountered an internal error () that prevented it from fulfilling this request. exception org.springframework.web.util.NestedServletException: Request processing failed; nested exception is org.iwethey.filter.FilterException: Popped handler does not match the key for this handler: got "" but was expecting "". org.springframework.web.servlet.FrameworkServlet.processRequest(FrameworkServlet.java:488) org.springframework.web.servlet.FrameworkServlet.doPost(FrameworkServlet.java:441) javax.servlet.http.HttpServlet.service(HttpServlet.java:709) javax.servlet.http.HttpServlet.service(HttpServlet.java:802) sun.reflect.GeneratedMethodAccessor50.invoke(Unknown Source) sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25) java.lang.reflect.Method.invoke(Method.java:585) org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:244) java.security.AccessController.doPrivileged(Native Method) javax.security.auth.Subject.doAsPrivileged(Subject.java:517) org.apache.catalina.security.SecurityUtil.execute(SecurityUtil.java:276) org.apache.catalina.security.SecurityUtil.doAsPrivilege(SecurityUtil.java:162) root cause org.iwethey.filter.FilterException: Popped handler does not match the key for this handler: got "" but was expecting "". org.iwethey.filter.AbstractMatchingPoppingHandler.process(AbstractMatchingPoppingHandler.java:60) org.iwethey.filter.FilterContext.filter(FilterContext.java:103) org.iwethey.filter.Filter.filter(Filter.java:94) org.iwethey.forums.web.post.PostValidator.validate(PostValidator.java:132) org.springframework.validation.ValidationUtils.invokeValidator(ValidationUtils.java:63) org.springframework.web.servlet.mvc.BaseCommandController.bindAndValidate(BaseCommandController.java:373) org.springframework.web.servlet.mvc.AbstractFormController.handleRequestInternal(AbstractFormController.java:263) org.springframework.web.servlet.mvc.AbstractController.handleRequest(AbstractController.java:153) org.springframework.web.servlet.mvc.SimpleControllerHandlerAdapter.handle(SimpleControllerHandlerAdapter.java:48) org.springframework.web.servlet.DispatcherServlet.doDispatch(DispatcherServlet.java:859) org.springframework.web.servlet.DispatcherServlet.doService(DispatcherServlet.java:793) org.springframework.web.servlet.FrameworkServlet.processRequest(FrameworkServlet.java:476) org.springframework.web.servlet.FrameworkServlet.doPost(FrameworkServlet.java:441) javax.servlet.http.HttpServlet.service(HttpServlet.java:709) javax.servlet.http.HttpServlet.service(HttpServlet.java:802) sun.reflect.GeneratedMethodAccessor50.invoke(Unknown Source) sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25) java.lang.reflect.Method.invoke(Method.java:585) org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:244) java.security.AccessController.doPrivileged(Native Method) javax.security.auth.Subject.doAsPrivileged(Subject.java:517) org.apache.catalina.security.SecurityUtil.execute(SecurityUtil.java:276) org.apache.catalina.security.SecurityUtil.doAsPrivilege(SecurityUtil.java:162) note The full stack trace of the root cause is available in the Apache Tomcat/5.5 logs. Apache Tomcat/5.5
Post #316,154 by Another Scott 10/24/09 12:56:41 PM Reply	To be safe, one needs to use an external editor to post. I too have lost posts here. Unfortunately, to be safe, for anything complicated you really need to compose your post in an external editor then paste it in your browser. Otherwise, it's too easy for a misplaced keystroke (I've lost posts hitting the Forward or Back keys on my laptop), or an issue with the server to eat it. If you're just pointing out the error, you probably should post a link in Suggestions. :-) Cheers, Scott.
Post #316,165 by Mycroft_Holmes_Iv 10/24/09 9:55:20 PM Reply	Got that too I got that for some back html i had in a posting. I noticed this is this was written in Java...are we allowed to look/suggest fixes/etc?
Post #316,156 by mhuber 10/24/09 1:22:11 PM Reply	So THIS is where tho corner is being turned? With all the government intervention in the last year alone, THIS is where we get on a slippery slope towards a government controlled economy? Dude, we've been on that slope for decades if not centuries.
Post #316,157 by beepster 10/24/09 3:03:49 PM Reply	This is pretty blatant as have been most of the decisions made in the past 2 years. So yes...if there is a corner being turned...we're at it. Considering we've been a country for just over 2 centuries..might be a tad overzealous there, eh? I will choose a path that's clear. I will choose freewill.
Post #316,159 by Another Scott 10/24/09 3:30:30 PM Reply	Your rose colored glasses are pretty foggy. Compare what Feinberg did to what the UK has done with RBS. The UK owns 70% of RBS - http://www.thisismon..._id=2&expand=true Ealier today [10/21/2009] it emerged that Royal Bank of Scotland, bailed out with £20bn of taxpayers' money a year ago, has already amassed a pay bill, including salaries and bonuses, of almost £2bn for its 20,000 investment bankers Â a pot that could double by the year's end. A newspaper report said that RBS has hired dozens of City high-flyers on bumper no-strings-attached bonus deals, in defiance of its promises to rein in profligate pay. The Daily Telegraph claims that 11 bankers were poached from ailing Wall Street bank Merrill Lynch on estimated packages of £500,000 each. The reports come just hours after a firebrand speech from the Governor of the Bank of England calling for banks to be brought to heel. In his most outspoken attack yet on the banks, Mervyn King said it was no longer acceptable that UK lenders are allowed to engage in high-risk casino banking under the cover of a taxpayer guarantee. A separation of investment banking arms from retail operations may be the only way out of the current 'unworldly' situation where taxpayers have to pick up the tab when institutions get into trouble, said King. King's speech gave voice to mounting public anger over the 'back-to-business-as-usual' arrogance of banks that have benefited over the last year from £1.3 trillion in taxpayer support to rescue the financial system. And the CEBR figures will fuel the flames, particularly as the banks stand accused of rationing loans to businesses and consumers, while handing out huge pay deals. That RBS is at the heart of the bonus bonanza will be especially controversial, given that the Government holds a 70% stake in it. RBS declined to comment. If a substantial owner of a bank demands that management's salaries and bonuses be cut is a sign of creeping nationalization, then isn't a actually nationalized bank that increases management's salaries and bonuses after being bailed out a sign that you're imagining a corner when none is there? IOW, look at what is actually happening, stop watching Fox, and quit imagining slippery slopes! ;-) HTH. Cheers, Scott.
Post #316,171 by beepster 10/25/09 8:43:01 AM Reply	I don't watch them the president told me not too. And its not imagined. last I checked, fox guys were ok with this too. I will choose a path that's clear. I will choose freewill.
Post #316,169 by mhuber 10/25/09 4:20:27 AM Reply	No, I don't think I'm overzealous Well, maybe a little, two centuries is on the low end of "centuries". But it is really closer to three. The Colonial proto-governments were very interested in influencing the economy. The other players were the Crown and from the East India Company rather than American corporate interests, but that's just because the Crown and EIC had done a pretty good job of keeping American businesses from becoming important players. We started out on the slippery slope, if that's the metaphor you want to use. My reading of history suggests that the situation is more of an ongoing balancing act. This particular situation, I somewhat agree with you. I don't like this move. Getting a bit micro-managing. I'm more a "suck their brains out with a straw and sell the widows and orphans" guy, firing them outright would have been cleaner. And if China handles the next bailout directly, the one after that may involve taking them out and shooting them. But really, we aren't talking about Nixon's wage and price freeze here, we are talking about regulating one more item in an already heavily regulated situation where the government is already more involved than anybody likes. This isn't the start of anything.
Post #316,180 by drook 10/25/09 12:40:32 PM Reply	Just so I've got this straight ... "Keep your goddamned government hands off my fiat currency." Ref -- http://www.huffingto...nme_b_252326.html -- Drew
Post #316,183 by Another Scott 10/25/09 3:18:07 PM Reply	IRLRPD. LOUD NOISES!!! :-) Cheers, Scott.

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