[Vision2020] CEO Dough "Threat To Capitalism":Jeb Bush

[Donovan Arnold]

Ted,
  
 Why do you see need for a change? I think it is good  that these people that make the world go round get compensated for  their work, at least somebody is. 
  
  If these people were not worth what they are getting paid they will soon lose their jobs. 
  
  Best,
  
  _DJA
  

Ted Moffett <starbliss at gmail.com> wrote:  All:
   
  Many  will not read the article from Fortune at the web link I gave, but some  of the quotes from that article are so incredible, given who they come  from, I thought I'd forward them in a separate post.
  No,  these are not anti-business leftists or collectivists talking... Can we  skip the over simplifying stereotypes and derogatory labels to discuss  reality for a change?  The statements after the web link are from  the Fortune article: 
   
  http://money.cnn.com/magazines/fortune/fortune_archive/2006/07/10/8380799/index.htm
   
  How  bad are things? Here's one wise man's assessment: "About half of  American industry has grossly unfair compensation systems where the top  executives are paid too much," says Charlie Munger, Warren Buffett's  partner at Berkshire Hathaway. 
    Florida governor  Jeb Bush - a pro-market conservative - is even more blunt.  Out-of-control compensation, he believes, is "a threat to capitalism." 
  Says  Bush: "Large rewards for great results can still be attacked, but  they're very defensible. But if the rewards for CEOs and their teams  become extraordinarily high with no link to performance - and  shareholders are left holding the bag - then it undermines people's  confidence in capitalism itself." 
  "In the time of the French Revolution," wrote conservative Bill O'Reilly of Fox News about the golden goodbye Exxon (  Charts)  handed its outgoing leader, "Lee Raymond and his $400 million pension  would be running one step ahead of the guillotine." (Actually, Bill,  only $98 million of that princely sum was the pension, but we take your  point.) 
  -------
  Ted Moffett

   
   
  

 		
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