Neal St. Anthony: Now's not the time to pass out CEO bonuses

  • Article by: NEAL ST. ANTHONY , Star Tribune
  • Updated: August 14, 2009 - 11:45 PM

As surviving U.S. workers struggle, efforts at pay restraint among financial titans prove underwhelming, to say the least.

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redqidAug. 15, 09 9:28 AM

"For its part, Wells Fargo says its executive compensation is in line with other successful financial organizations." Hah, hah. The banks pay their bonuses every year whether they are "successful" or not. If the company has a bad year, the execs get a huge bonus anyway. All these execs sit on each others boards and make sure their buddies get paid.

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oldbikerAug. 15, 09 9:46 AM

Sometimes I think we (the common folk) need to do something, anything, but sit still and read how executive compensation still goes high and wild. Think they shop cheaply and grow their own vegies??? Yeah, right.

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mnhockey99Aug. 15, 09 9:58 AM

"we have to keep their pay 'in-line' with the rest of the market or they will go somewhere else." My thoughts are... oh well. This supposed 'top talent' gets pay raises while the real top talent doesn't get squat and comes to work every day wondering if they will still be employed at the end of the day or be part of another mass layoff.

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bottomlineAug. 15, 09 1:32 PM

All of you people have NO idea of how a "real" company functions. "Executives sitting on each other's boards making sure their buddies get paid".....are you serious? I've sat in on MORE than enough Corporate discussions to KNOW that "real" companies simply DO NOT function in that manner!

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excorpcogAug. 15, 09 4:50 PM

I am a recovering VP from corporate America and must disagree with bottomline's comment. I have seen unbelieveable delusion among the exec ranks in terms of their value. Most execs convince themselves that only they could run the company and don't give enough credit to the little cogs that really get the work done. So, the bonuses are big and a reflection of the over-sized egos of many, many execs! This is how I have seen companies function -- at the top level and at the Board level. We should never underestimate the ability to overestimate one's importance!

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bottomlineAug. 15, 09 6:31 PM

...should consider themselves lucky that they haven't encountered the companies I've had to contend with. Such "over-sized egos" would have been met with accusations of "not thinking of the company as-a-whole", "not giving proper credit where it is due (the workers)"...and given directions where to find the nearest Unemployment Office!!

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jbpaperAug. 15, 09 8:07 PM

Name one large corporation that has a board member that has never made over $60,000 in a year and then maybe, just maybe, I'll believe you. Until then, I'm going to continue believing they are just taking care of each other. On another note, if the best talent ran them into the ground, maybe they should let them go someplace else.

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ripmntsAug. 16, 0912:25 AM

While they run me through forclosure. I can't type a description that would be printed. To be treated like this, I spent a year in a rotten jungle while those unmentionables probably bought a deferment. Thanks for nothing, wells forcloseo.

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lvonleheAug. 16, 09 7:07 AM

I hope that when some paramedic saves your life from a car accident or something heroic that you just look at them and tell them they don't deserve a bonus. Your little communist state at the Red Star has probably given out bonuses but you won't write about that, will you? Liar!

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lothlornAug. 16, 09 7:59 AM

If its a public company (SELLS STOCK) it is the public's business how much the management is paid. And many of these CEO'S are WAY WAY overpaid. And the stockholders are NEVER asked about pay and bonus's for managements. You get proxies but there only for voting and its just a form that asks if your for or against a list of individuals. Once in a while they ask you a question about how there operation is run but I have NEVER,NEVER,EVER been asked about there pay or outsourcing jobs or free trade or any thing like that. If you look at what many of these upper management are paid compared to there workers its appalling and when you compare American management to overseas pay vs there workers its nuts. There OVERPAID. The top talent question? Let them go oversea's they will be paid even less.

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