Tag Archives: limit

New French president to limit CEO pay at state owned businesses

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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

Judicial Jinn (genie) – By Waris Husain

My father told me that when he was growing up in a remote village in Pakistan, his community wholeheartedly believed in jinn (genies), and he would see them often as a child. He left his village at a young age to attend school in the city, where he was able to interact with people outside his small native community and develop independent ideas.

Upon his return to the village, all the jinn of his childhood vanished, even though the people of his community who spent their lives in the village still saw them. This is the story of Pakistan’s Courts, which are viewed by average citizens as genies that magically appear to solve unsolvable problems. However, those who have “ventured outside the village” know that there are no judicial genies, just human judges who are liable to make mistakes. This means that the Court must create standards to limit its own powers, lest it become a jinn the people can’t put back in the lamp.

Jinn are described as “smokeless fire,” possessing superhuman powers including the ability to travel expansive distances unimaginable by man. In some stories, the jinn grants three wishes to an individual, allowing the wisher to accrue untold power and wealth. These supernatural abilities distinguish jinn from humans, as jinn possess a greater power to control their environment or reality.

Lately, the media has depicted politicians as weak humans, while assigning a mystic ability to the Court to unilaterally “do justice” in the country.

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