News from U.S. Plans $500,000 Cap on Executive Pay in Bailouts and Obama Calls for ‘Common Sense’ on Executive Pay
In 2007, Vikram Pandit of Citigroup made $3.1 million; Kenneth D. Lewis of Bank of America received over $20 million; and Rick Wagoner of General Motors made $14.4 million.
Yes, that’s a big money, but if the companies also had a substantial net income, I think nobody would argue that is proper or not. Hence, Obama hopes to set a salary cap of $500,000 for executives of bailout companies today. (Well, we can not use the bailout to “stimulate” the accounts of executives. :P)
In my opinion, I think the government should force the companies with negative net income to publish the salaries (and bonus) of their executives and high-level managers, and proper “caps” for these positions are also necessary. Besides, more strictly, I think the executives should receive NOTHING if the companies receive bailout from the government.
In Taiwan, as the news, only the companies with two consecutive years negtive net income should publish the salary of directors. I think that is not rigorous enough. Besides of my opinions in previous paragraph, I think the salaries of high-level managers and executives and the historical salary information should be also published if negative net income. And the “two consecutive years” time constraint should be removed, to prevent the tricks in finacial reports.
—– The follows is Traditional Chinese Version —–
因為有接受政府抒困的公司的總經理仍舊領了不少薪水，所以歐巴馬打算要設立 $500,000 的上限，讓這些不負責任的公司總經理不能對不起投資者以及繳稅的公民。(總不能拿抒困的錢來”激勵”這些總經理的口袋吧 :P)