Pay Czar Demands Pay Cuts To Firms - TriStateTuners.com :: Home of Tristate Auto Enthusiast

c0nfl1kt · 10-23-2009, 09:23 PM

http://money.cnn.com/2009/10/21/news...tion/index.htm

So, it seems like finally some people up top are noticing a huge problem with those firms. They basically took our tax money(the bailout was a large percentage tax payer money), saved their behinds and partied with it. That pissed me off a lot as a taxpayer and am glad that someone is looking out for us and forcing their dumb asses to cut their ridiculously huge pay so they can start paying those loans back. How do you guys feel about it? Freeloaders need not reply!

SheaButter · 10-24-2009, 09:53 AM

Seems like a great idea in my mind also. Now my B*tch about it is. Why does it take some CZAR to do this. Why was it not put into the agreement that the companies receiving the money must take pay cuts and all that jazz. But no we as americans have to pay for some Czar to run around and tell people what to do and how to do it instead of being smart in the first place.

Whitekryptonit3 · 10-24-2009, 10:19 AM

Quote:

Originally Posted by c0nfl1kt

http://money.cnn.com/2009/10/21/news...tion/index.htm

So, it seems like finally some people up top are noticing a huge problem with those firms. They basically took our tax money(the bailout was a large percentage tax payer money), saved their behinds and partied with it. That pissed me off a lot as a taxpayer and am glad that someone is looking out for us and forcing their dumb asses to cut their ridiculously huge pay so they can start paying those loans back. How do you guys feel about it? Freeloaders need not reply!

Well I'm happy I still get my bonus(s).To be honest the stress levels that you have to deal with in the finance field's are not a joke. Meeting insane qouta's that will make your hair grey isn't something you deal with all day.

bastid · 10-25-2009, 09:03 PM

I think that they should have been upfront with firms who received bailouts that they could be in for serious haircuts until they turn their act around. If there were zero stipulation of this, then I don't believe this is fair (not necessarily what is right, but what is fair). Sounds to me like politicians shot first and asked questions later with respect to the bailout. Should have spelled this out up front.

Additionally, the talent that these companies need to turn around will ultimately demand greater than a $500,000 salary. They won't get anyone capable enough on that salary.

poolmike · 10-26-2009, 01:39 PM

The bailouts should have never happened. Since they did happen, the top people in these companies that created their own problems should be running without pay.

I have fears that the government will start dictating salaries for everyone soon.

lagos · 10-26-2009, 10:40 PM

Quote:

Originally Posted by poolmike

I have fears that the government will start dictating salaries for everyone soon.

They already do. Its called minimum wage!

poolmike · 10-26-2009, 10:56 PM

Quote:

Originally Posted by lagos

They already do. Its called minimum wage!

I was thinking more about limits....

Roto · 10-26-2009, 11:39 PM

Quote:

Originally Posted by poolmike

I was thinking more about limits....

It's called communism, and it's knocking...

10-25-2009, 09:03 PM	#4
bastid Tri-State Addict Join Date: Apr 2006 Member #1732 My Ride: 2008 BMW M3 iTrader: (0)	I think that they should have been upfront with firms who received bailouts that they could be in for serious haircuts until they turn their act around. If there were zero stipulation of this, then I don't believe this is fair (not necessarily what is right, but what is fair). Sounds to me like politicians shot first and asked questions later with respect to the bailout. Should have spelled this out up front. Additionally, the talent that these companies need to turn around will ultimately demand greater than a $500,000 salary. They won't get anyone capable enough on that salary. __________________ *2008 BMW ///M3 Coupe: Alpine White on Extended Fox Red Novillo Leather Factory Options:* Premium Package : M-DCT : 19" Alloys : Technology Package : Bi-Xenon : Heated Seats : EDC : Premium Audio : iPod/USB Adapter Modifications: APE Performance S65B40 Air Filter : Fabspeed X-pipe : Remus Race Muffler

10-26-2009, 01:39 PM	#5
poolmike Tri-State Post Whore Join Date: Jun 2005 Location: Richboro Member #543 My Ride: '68 Kaiser M715/ '37 Ford truck/'47 Dodge truck iTrader: (0)	The bailouts should have never happened. Since they did happen, the top people in these companies that created their own problems should be running without pay. I have fears that the government will start dictating salaries for everyone soon. __________________ 2012 Honda Accord Touring 1968 Kaiser M715 FrankenJeep 1947 Dodge 1.5 Ton Resto-mod 1937 Ford pick-up 1950 Crosley Farm-o-Road

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10-24-2009, 09:53 AM	#2
SheaButter Tri-State Aficionado Join Date: Mar 2009 Member #11890 My Ride: 2008 scuby wrx iTrader: (0)	Seems like a great idea in my mind also. Now my B*tch about it is. Why does it take some CZAR to do this. Why was it not put into the agreement that the companies receiving the money must take pay cuts and all that jazz. But no we as americans have to pay for some Czar to run around and tell people what to do and how to do it instead of being smart in the first place.