Big Al45

Why Capping Pay Is Likely to Work

Oh Please

The "brain dead" replacement CEOS couldn't do much worse than some of the current talent. How much brain power did it take to decide to buy Golden West, Countrywide, or Merrill Lynch. The janitor probably could have make those kinds of decisions.

Perhaps you should disclosure what kind of "regular personal contact" you have with bank CEOs. You sound like board of directors material - perhaps chair of the compensation committee. In any case, hope your "contact" didn't require kneepads.


On Feb 04 11:23 AM Think! wrote:

.
> No, they won't be "giving you a call" because you don't even begin
> to have the skill set to get the job done. I have regular personal
> contact with the Treasurers, CFOs and CEOs of most of the top 20
> banks in the U.S. You have no idea how hard these people work and
> the pressure that they are under.
>
> If you drain the talent, then these organizations will truly be brain-dead.
> That is the problem. Removing all employee incentives will produce
> corresponding behavior. Equity (how Sr. Mgt and even the rank and
> file has been receiving the majority of its compensation for the
> past few years) has been gutted.
>
> How will you recruit, manage and motivate talent? "Be glad that you
> have a job" is a very-short term motivator. If there is no upside
> offered, there will be a brain drain from the industry.
>
> That will not be good for the institutions or the country.
>
> Try to moderate the emotion and maximize the strategic thinking.