Tag Archives: Free Market

New French president to limit CEO pay at state owned businesses

by

François Hollande’s 75% tax rate is still going to struggle due to the ease of moving out of France (or any country besides the US) but bringing a dose of fairness is going to be much easier. There will be plenty of complainers who will suggest how difficult it will be to attract top talent but there is even more evidence that shows paying top dollar (or euro) does nothing to attract top talent.

For years we have seen one company after another bump up pay to attract the next Steve Jobs or whatever other CEO of the day is being described as the greatest leader ever. The reality is there was only one Steve Jobs. The others command superstar pay but more often than not, they under-deliver. (We only need to look at Bankia as one recent example.) They’re always billed as the leader who will take the business to the next level, but the only thing going to the next level will be the executive pay.

Since Hollande is a Socialist, this change will no doubt trigger a storm of criticism and howling from the so-called free market “capitalists.” As in the same free market capitalists who all thought it was important to bail out the lifestyles of the bankers and keep the quantitative easing policies that have been all about free money for bankers to gamble. There hasn’t been anything close to a free market or raw capitalism for years so spare me any arguments about socialism. We’ve had it and it has been socialism for the 1%.

If we are ever going to bring some balance back to society, we’re going to need a lot more action like this. We’ve tried excessive CEO pay and it simply does not provide an acceptable ROI. More on fat cat pay from The Guardian:

Read more » America Blog
http://americablog.com/2012/05/new-french-president-to-limit-ceo-pay-at-state-owned-businesses.html

Striking Suicide Bombers!

Found, I am not sure where, by Gweilicus

Courtesy: fmft.net

.. suicide bombers in Britain are set to begin a three-day strike on Monday in a dispute over the number of virgins they are entitled to in the afterlife. Emergency talks with Al Qaeda management have so far failed to produce an agreement. The unrest began last Tuesday when Al Qaeda announced that the number of virgins a suicide bomber would receive after his death will be cut by 25% next January from 72 to only 60. The rationale for the cut was the increase in recent years of the number of suicide bombings and a subsequent shortage of virgins in the afterlife.

The suicide bombers’ union, the British Organisation of Occupational Martyrs (or B.O.O.M.) responded with a statement that this was unacceptable to its members and immediately balloted for strike action. General Secretary Abdullah Amir told the press, “Our members are literally working themselves to death in the cause of Jihad. We don’t ask for much in return but to be treated like this by management is a kick in the teeth.”

Mr Amir accepted the limited availability of virgins but pointed out that the cutbacks were expected to be borne entirely by the workforce and not by management. “Last Christmas Abu Hamza alone was awarded an annual bonus of 250,000 virgins,” complains Amir. “And you can be sure they’ll all be pretty ones too. How can Al Qaeda afford that for members of the management but not 72 for the people who do the real work?”

Continue reading Striking Suicide Bombers!