MojoMan Posted February 4, 2009 Share Posted February 4, 2009 (edited) So there's a lot of talk about executive compensation and Obama's and McCaskill's proposals to curb "excessive" executive compensation for those whose companies are getting bailed out. The sour grapes side of me likes this idea. Really, who is worth $20M? However, what if we assume that that high compensation is buying rare talent? So, it goes to follow that you take away the compensation, the talent leaves, and the company declines even more. I have little experience with high-powered executive types. I worked for a small company some time ago that had recruited a bunch of large company execs. As a middle-manager, I did have a fair amount of contact with them. I was not impressed. They didn't seem to work harder or make better decisions or know more than any other number of people I have worked for or with. However, these were not Jack Welch or Rick Waggoner. These were senior VPs at a company with revenues of about $4B/annum. Do any of you guys have experience working with a high-powered exec? Do we stand to lose overall by potentially pushing them out of their highly paid CEO-type jobs? Just wondering. Edited February 4, 2009 by MojoMan Quote Link to comment Share on other sites More sharing options...
billay Posted February 4, 2009 Share Posted February 4, 2009 They're not any smarter than anybody else. They're just where the money is. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted February 4, 2009 Share Posted February 4, 2009 ask Atomic Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted February 4, 2009 Share Posted February 4, 2009 One would hope it requires a high degree of very rare talent to ruin the world economy. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted February 4, 2009 Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. I wish I had that quality, but I'll have to settle for being very good at actually accomplishing tasks that make companies profitable. Quote Link to comment Share on other sites More sharing options...
billay Posted February 4, 2009 Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. I think you're right. Unfortunately, what is not required, is actually being right in what you say. Quote Link to comment Share on other sites More sharing options...
TimC Posted February 4, 2009 Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. I wish I had that quality, but I'll have to settle for being very good at actually accomplishing tasks that make companies profitable. +1 Most execs I know are very high in the bullsheet quota with very little substance backing them up. They talk a good game, though. On the other hand, some execs are great. You want to find real talent, look to people that found the company. Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted February 4, 2009 Share Posted February 4, 2009 Really, who is worth $20M? This guy? Quote Link to comment Share on other sites More sharing options...
TDFFFreak Posted February 4, 2009 Share Posted February 4, 2009 A 500K cap on executives at companies that have been bailed out. I wonder what effect that will have on those and other companies? Quote Link to comment Share on other sites More sharing options...
Egret Posted February 4, 2009 Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. I wish I had that quality, but I'll have to settle for being very good at actually accomplishing tasks that make companies profitable. You mean like Jack from 30 Rock? Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 4, 2009 Share Posted February 4, 2009 matt millen Quote Link to comment Share on other sites More sharing options...
MojoMan Posted February 4, 2009 Author Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. So, the same skill set as a politician then. Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 4, 2009 Share Posted February 4, 2009 I've found that the number one skill of any executive is speaking with confidence in a manner in which other people (specifically board members) believe and trust what you say. Absolutely--they must especially trust you when you tell them that you will adjust their compensation package immediately after they adjust your own compensation package. Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 4, 2009 Share Posted February 4, 2009 One would hope it requires a high degree of very rare talent to ruin the world economy. chuckle Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 4, 2009 Share Posted February 4, 2009 a company's owners, through its board of directors, should be able to determine how much they want to pay senior executives in order to lure/maintain the level of talent they deem necessary. that said, the boards of many companies seem to have done a pretty poor analysis in this regard. in general, I don't think the government has any business whatsoever dictating this sort of thing to anyone. but I am A-OK with them dictating such terms to any company seeking or receiving government loans, bailouts, handouts, etc. Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted February 4, 2009 Share Posted February 4, 2009 but I am A-OK with them dictating such terms to any company seeking or receiving government loans, bailouts, handouts, etc. Exactly. You can't suckle on the gubberment teat and expect carte blanche with the money. Quote Link to comment Share on other sites More sharing options...
Big Country Posted February 4, 2009 Share Posted February 4, 2009 Exactly. You can't suckle on the gubberment teat and expect carte blanche with the money. The welfare baby mamas do this all the time. Quote Link to comment Share on other sites More sharing options...
H8tank Posted February 4, 2009 Share Posted February 4, 2009 Nice contribution islrish! Quote Link to comment Share on other sites More sharing options...
MojoMan Posted February 4, 2009 Author Share Posted February 4, 2009 a company's owners, through its board of directors, should be able to determine how much they want to pay senior executives in order to lure/maintain the level of talent they deem necessary. that said, the boards of many companies seem to have done a pretty poor analysis in this regard. in general, I don't think the government has any business whatsoever dictating this sort of thing to anyone. but I am A-OK with them dictating such terms to any company seeking or receiving government loans, bailouts, handouts, etc. I agree with what you wrote but you didn't say what that talent was that were deciding what to pay. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted February 4, 2009 Share Posted February 4, 2009 Absolutely--they must especially trust you when you tell them that you will adjust their compensation package immediately after they adjust your own compensation package. That's the circle jerk that's led to these insane compensation levels. Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted February 4, 2009 Share Posted February 4, 2009 The welfare baby mamas do this all the time. I happen to think gold plated rims are a better investment than Enfamil, but I doubt I'm in the majority. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted February 4, 2009 Share Posted February 4, 2009 Nice contribution islrish! thanks Booster Quote Link to comment Share on other sites More sharing options...
isleseeya Posted February 4, 2009 Share Posted February 4, 2009 (edited) I have dealt with a few pretty powerful exec's worth a ridiculous amount of money ... The thing that stuck out for me , was there knowledge and intelligence ...They new not only the big details but the smllaest details about their business and company ...They really had a pulse on everything that was going on They spoke in a way that made you believe them without a doubt ...strong leadership skills , but also they showed little or no fear in taking chances ...They truly believe in themselves , their cause and their company with tremendous confidence Edited February 4, 2009 by isleseeya Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted February 4, 2009 Share Posted February 4, 2009 On the other hand, some execs are great. You want to find real talent, look to people that found the company. Bingo. Quote Link to comment Share on other sites More sharing options...
godtomsatan Posted February 4, 2009 Share Posted February 4, 2009 While we're at it, let's put a cap on movie stars, athletes, and Tiger Woods. Quote Link to comment Share on other sites More sharing options...
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