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A WSJ analysis shows how execs at large companies going through bankruptcy receive millions in...

A WSJ analysis shows how execs at large companies going through bankruptcy receive millions in compensation while slashing tens of thousands of jobs. At 21 firms, the CEOs received a combined total of over $350M, with the median amount $8.7M. However, lawyer Richard Levin argues that firms "need to attract the best people."
Comments (8)
  • martysalinas2
    , contributor
    Comments (11) | Send Message
     
    Hold on. So how did the market clearance price for "talent" arrive at $8.7M? What imperical measurement is it based on? I can guess. What Mr. Levin meant to say is "They need to attract the best PERSON." The PEOPLE can be laid off in droves. Carry on...
    27 Jan 2012, 06:01 AM Reply Like
  • User 353732
    , contributor
    Comments (4758) | Send Message
     
    "best" at what? At being card carrying members of the kleptocratic oligarchy that pillages without consequence?
    This is anti-capitalism and anti-entrepreneurship.
    27 Jan 2012, 06:04 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3290) | Send Message
     
    Couldn't agree more. CEO's like that give capitilism a bad name. If they were so good, why did the company go under? It's just a good ol' boy network that keeps paying themselves off.
    27 Jan 2012, 06:09 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3528) | Send Message
     
    Option
    Was just going to say the same thing.
    27 Jan 2012, 10:51 AM Reply Like
  • hollyhawk508
    , contributor
    Comment (1) | Send Message
     
    If they are the best, then why are they leading the firm into bankruptcy?
    27 Jan 2012, 08:17 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    I haven't read the WSJ in years. It used to be a commonplace that their news coverage was as biased leftward as the rest of the establishment media but the editorial page was right wing. It now appears, that it's "grown" and has fallen in line with the rest of the establishment.

     

    In the run-up to the 1980 election, the one that sent Jimmy back to packing peanuts and began the end of Malaise I, it was a commonplace on the right--and trumpeted in the WSJ--that taxing the hell out of millionaires and billionaires always hurt the little guy. The millionaires and billionaires land on their feet but the little guy gets it in the neck.

     

    Now we're watching a political process unfold in which one major party is promoting taxing the hell out of millionaires and billionaires as the way out of Malaise II, and the other major party says they only want to tax the millionaires and billionaires halfway to hell.

     

    "We are all Marxists now."
    -- Yogi Einstein

     

    "Where have all the supply-siders gone? Long time passing..."
    -- Pete Seeger
    27 Jan 2012, 08:59 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3290) | Send Message
     
    Yes, the best way out of this mess is to extrapolate and have zero taxes for anyone making over $1 million a year, including Paris Hilton.

     

    Taxing the hell out of millionaires? Less so under Reagon's watch.
    27 Jan 2012, 09:37 AM Reply Like
  • DrData02
    , contributor
    Comments (31) | Send Message
     
    These people must be "better" than brain surgeons and every one in public service. (Not to mention those working at the Fed.)
    27 Jan 2012, 10:45 AM Reply Like
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