President Obama has just moved up a notch in my opinion. Reducing executive compensation on companies that have received taxpayer funded bailouts was the right thing to do. The gall of these executives to vote themselves huge compensation packages while the taxpayers, some of them in dire straights themselves, are paying the bills, is incomprehensible. That these executives would even consider taking such compensation packages shows how out of touch with reality they really are.
Rewarding incompetent management for running a company into the ground should not entitle them to any kind of a pay package, at least the way I see it.
A salary of $500,000.00 per year should be enough for these people to scrape by on during these tough times. They may of course have to give up one or two of their weekend jaunts to Paris or London but so be it.
Trivia - Tipping at a restaurant in Iceland is considered an insult!
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