Pay slashed for executives under TARP, yet for some reason they didnt’ flee

Last summer, Kenneth Feinberg was appointed the federal government’s “pay czar” over seven of the biggest private companies that had taken taxpayer-funded TARP bailouts to stay alive. (As an aside, that made Feinberg part of the right wing’s “Great Czar Poutrage of 2009″ — remember that one?)

By October, Feinberg announced that he was cutting the base salary of top executives at those companies by an average of 90 percent; total compensation paid out in cash, stock and perks would be cut in half. In the minds of some, that drastic action meant real trouble ahead for those companies, as the AP reported at the time:

“These people are considered the brains of the machine. They are who can pull you through the tough times,” said Steven Hall, who runs an executive compensation firm that bears his name. “This will give them reason to leave.”

“There will be a fallout,” said Janice Reals Ellig, co-CEO of the executive search firm Chadick-Ellig. “Talent that is short-term-focused because they have big mortgages, college education payments and other things will feel more pressure to leave.”

A Bank of America spokesman, Scott Silvestri, said competitors not subject to pay restrictions “already are exploiting this situation by identifying our top performers and using pay concerns to recruit them away for fair market compensation.”

Since then, Bank of America and Citigroup have paid back their TARP loans and have left Feinstein’s direct control. But something interesting happened at the five remaining companies: The tsunami of executive departures that some predicted never happened. Today, Reuters reports:

The Treasury, where Feinberg’s office is housed, also said about 84 percent of the top earners under the pay czar’s jurisdiction are still with their firms despite having their pay dramatically cut back.

“People at these five companies are not leaving the companies to go elsewhere,” Feinberg told a news briefing. “There is a striking number of holdovers.”

At today’s briefing, Feinberg also announced his latest actions regarding 2010 executive compensation levels at those five companies. Overall, he is cutting total compensation by 15 percent and cash payments by 33 percent. More specifically, as the New York Times reported:

General Motors, for example, wanted to pay 20 of its 25 highest earners cash salaries of $500,000 or more, according to people close to the negotiations. Mr. Feinberg approved that amount for only eight executives, including Edward R. Whitacre, G.M.’s new chief executive. His $9 million pay package includes a $1.7 million cash salary, with the rest in stock.

At Chrysler Financial, only eight people have total pay of more than $500,000. At Chrysler and GMAC, none of the 25 highest earners are expected to receive a cash salary of more than $500,000. Michael Carpenter, GMAC’s new chief executive, is receiving his entire compensation in stock.

GMAC, the only company to receive three helpings of taxpayer aid, initially offered Mr. Carpenter a $9.5 million pay package. Mr. Feinberg rejected that, according to people close to the situation. Mr. Carpenter will now receive $8 million of so-called salary stock, which he cannot sell for at least three years.

Apparently, $500,000 plus stock options is enough to live on in this economy.

137 comments Add your comment

Old Shoes

March 23rd, 2010
4:01 pm

If you were a hot dog, and you were starving, would you eat yourself?

josef nix

March 23rd, 2010
4:09 pm

Sure they didn’t go running off. Cuts aside, it’s a gravy train. Just look at the figures being cited. Ain’t gonna get that working for the Atlanta Public Schools or the AJC…

Bosch

March 23rd, 2010
4:11 pm

I love the word “poutrage” – it’s so appropriate for the our wingnut friends.

Scout

March 23rd, 2010
4:16 pm

Yours could be next. No one is safe under the “March of Marxism” !

Hup, two, three, four …….. hup, two, three, four …………

The Battle Rages

March 23rd, 2010
4:20 pm

Headline: “The proverbial ink had yet to dry on the nation’s new health care reform law Tuesday before two states — Virginia and Florida — filed lawsuits and more scrambled to put up legislative barricades between themselves and the bill requiring Americans to purchase health insurance or face stiff penalties.

The tactics, employed everywhere from Arizona to Virginia, are the strongest sign that the health care reform fight is far from over.”

josef nix

March 23rd, 2010
4:24 pm

Whoo-law! I just scrolled through downstairs. Y’all been in a foul a$$ mood and here I was all prepared to be sweetness and light for a change. I’ve been a good little boy today. Socially conscious and at the same time could make a trip to Tower and get to call it religious. Found some Chileans kosher for Passover. What more could you ask for?

Redneck Convert (R--and proud of it)

March 23rd, 2010
4:25 pm

Well, this Feinberg and Obama—a Jew and a Muslim—got no business sticking their nose in what cos. pay the big boys. If they run their cos. into the ground again, I might could go along with cutting their pay by a couple bucks. But otherwise this is Free Innerprize and guvmint got no reason to butt in, unless they need another bailout.

These Obama people are Socialists. The CEOs at these five cos. need to tell them to butt out unless they go broke and need help to keep Free Innerprize going.

That’s my opinion and it’s very true. Have a good night everybody.

JDW

March 23rd, 2010
4:26 pm

The Battle Rages,

“The tactics, employed everywhere from Arizona to Virginia, are the strongest sign that the health care reform fight is far from over.”

The Germans kept fighting after D-day but the war was over. This one is too. Sure would serve the Party of NO better to start looking for solutions rather than pounding dead horses.

Dave R.

March 23rd, 2010
4:26 pm

They didn’t flee – yet.

Fixed your typo, Jay.

TaxPayer

March 23rd, 2010
4:26 pm

Just imagine if those CEOs had not agreed to what they were offered and decided to go elsewhere for a job. Some place where they would be better compensated. Then again, I don’t think anyone was holding them back. Poor things. Too bad the conservative constitutionalists could not protect their salaries from the mean old Democrats. :roll:

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:27 pm

Call it wealth envy or whatever, but if you’re taking taxpayer money, no one should make more than the president!! Period!

If they choose to leave, they’re damagaged goods for right now. Who’s gonna take them? If I had a choice to make $8mil a year vs. sit at home, I’m gonna take the $8mil. But that’s just me.

AmVet

March 23rd, 2010
4:27 pm

I have regularly suggested that these cabals put out help wanted advertisements in India, China, etc.

Wanted: CEO, CFO, COO. Decent pay and benefits.

Then, instead of farming out tens of thousands of middle class Americans jobs overseas, we could farm out a tiny handful of fat cat positions.

These replacements would work for pennies on the dollar and would likely do a better job anyway.

But hey! Somebody has got to make 7,000 times the earnings of their employees! Right?

TaxPayer

March 23rd, 2010
4:28 pm

What does a constitutionalist do all day. Sit around and try to get a movement going.

Bosch

March 23rd, 2010
4:28 pm

“If you were a hot dog, and you were starving, would you eat yourself?”

OMG, it’s the ghost of Harey Carey.

Dave R.

March 23rd, 2010
4:29 pm

In case anyone missed it, we’re still in a bit of a recession and about to hit the second dip of same. That means that there are still fewer jobs available out there (and even fewer for C-level executives) than there normally would be.

They’ll bail when the grass gets greener – once the grownups get back in charge.

Bosch

March 23rd, 2010
4:29 pm

“No one is safe under the “March of Marxism” !”

Oh my freaking God.

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:31 pm

Bosch @ 4:29

Didn’t I teach you that in Chinese?!!? How soon we forget.

Drain The Swamp (NIF)

March 23rd, 2010
4:31 pm

And another victory for fascism. And Jay is celebrating the fact that they got away with it yet again.

My only question is: When do we get a newspaper pay Czar and a school teacher’s pay Czar. I think they all need to be watched very closely. They are all making too much money for the good of the collective.

jt

March 23rd, 2010
4:31 pm

“Last summer, Kenneth Feinberg was appointed the federal government’s “pay czar””

What is a pay czar paid?
Whatever it is comes from my paycheck.

Anyhoo, look at what these CEOs have in comman with the progressives.
Here is a picture of AIG financial services director Gerry Pasciucco with his Che shirt.

http://2.bp.blogspot.com/_KgBT8kIRgBo/S5bNG0K–xI/AAAAAAAAGa8/11TcdFKnCAk/s1600-h/Corporate+Socialist.jpg

I’m sure Charlie Rangel and Timbo will striaghten this pay stuff out.

josef nix

March 23rd, 2010
4:32 pm

Dave–
Thought some about your question. Still not quite ready to answer, Not avoiding it at all. I just want to give it the attention it deserves.

Redneck–
You better watch what you sayin about them. You won’t get no house on the West Bank and’ll get sent to Afghanistan and I’ll tell ‘em you a f*ggot…they’ll hang yo a$$ there! Nation building and human rights…ain’t they just wonderful?

TaxPayer

March 23rd, 2010
4:33 pm

Oh Noes! Those poor abused executives are just biding their time. If it were not for this darned old recession, they’d be outta there and on to greener pastures. Ohh! The things some folks have to tolerate!

josef nix

March 23rd, 2010
4:33 pm

Swamper–
A teacher pay Czar? Whoo-whee! You looking for a November Revolution? :-)

Drain The Swamp (NIF)

March 23rd, 2010
4:34 pm

Taxpayer

**Too bad the conservative constitutionalists could not protect their salaries from the mean old Democrats.**

That pretty much sums it up. There is little protection, including the constitution against the onslaught of fascism in our government.

Bosch

March 23rd, 2010
4:34 pm

SoCo,

:-(

You really, of all people, need to check out the author guy I mentioned downstairs. Seriously. Your life will have so much more meaning.

Dave R.

March 23rd, 2010
4:34 pm

josef, I knew you’d do a lot of thinking about that. It goes to the heart of a “right”. You’re one of the few who would take the time to do so in this blog.

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:36 pm

I’ve seen his books, but haven’t picked one up. I’ll have to do so. I’m always looking for something new to read.

N-GA

March 23rd, 2010
4:37 pm

This is the opposite of what occured at Delta. The Board of Directors approved a huge ($123 million, I think) retention bonus package for senior management when the company was looking like it was going to crash & burn (post 9/11). All of the rank & file along with the shareholders were outraged, for all the good it did.

Just 18 months later all but 2 of these senior managers had jumped ship….with their retention bonuses. And the stock was worthless, btw.

The Board’s actions were certainly stupid if not criminal. Bonuses paid to executives for the purpose of keeping them on board should have been in the form of options vesting over a period of at least 4 years, and with strike prices that assume the stock must rise for them to be in the money.

Drain The Swamp (NIF)

March 23rd, 2010
4:37 pm

josewf

Why not? Who gets to pick who the government goes after? Many on here have called them fat cats, but fat cats can be a sliding scale. In Cuba, you would be considered a fat cat. I am far from being a fat cat, but if someone decides that I am paying myself too much, should the government be able to step in and control my pay scale?

I am appalled that there are Americans on this board that are applauding this intrusion by our government.

Drain The Swamp (NIF)

March 23rd, 2010
4:38 pm

TaxPayer

Why all the hate for people more successful than you? Sounds like kool-aid time for liberals.

The Battle Rages

March 23rd, 2010
4:38 pm

JDW:

It took about 250 years to end slavery on this continent ……….. it ain’t over.

josef nix

March 23rd, 2010
4:38 pm

SoCo–
Gotcha downstairs. Today’s social studies lesson was the home front in WWII. The text made a point of Mexico’s role in supplying labor to replace the American men being sent to war (along with Rosie the Riveter). One of my “I like you, Mr. Nix” ones asked, “what happened to them when the war was over…” “Well, son, we deported about 2.5 million of them in the 1950s.” “Because we didn’t need them anymore.” “Pretty much, son.” “Kind of like today, de verdad?” So, how would you answer that last one?”

Bring on the immigration issue! :-)

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:38 pm

josef

When the immigration debate starts, remind me to show this clip again.

http://www.youtube.com/watch?v=CyWQ1cAGhbs

Scout

March 23rd, 2010
4:39 pm

Bosch:

You’re not marching …………. “hup, two, three, four ……….. hup, two, three, four ………. “

Dusty

March 23rd, 2010
4:39 pm

Could anyone give me the total on Kennth Feinberg’s salary? Did he take a cut for the trillions overpaid on our budget? How about Clinton,Emanuel & Geithner?

Well, we’ll excuse Geithner. He had to pay back taxes he had forgotten about. Seems all of them, wealthy as they are, could pitch in with the cuts. Maybe they could manage to live off a little less themselves instead of squeezing the poor taxpayer and monitoring business men..

getalife

March 23rd, 2010
4:39 pm

Politics of fear is a loser.

Drain The Swamp (NIF)

March 23rd, 2010
4:40 pm

N-GA

Do you own the controlling interest in Delta?

If so, you should be raising hell. If not, we appreciate you giving your opinion.

Drain The Swamp (NIF)

March 23rd, 2010
4:40 pm

getalife

politics of class envy is a real loser.

N-GA

March 23rd, 2010
4:41 pm

The general rule for determining CEO pay worldwide has been what is the multiple when compared to the pay of the lowest FTE.

In countries where there is less greed and more sense of responsibility, a CEO might easrn 100 times more than the lowest paid worker in that company. In the USA it is typically 300 times higher. Our problem is that there are too many CEO’s and ex-CEO’s sitting on corporate boards. Of course they approve paying outrageous salaries.

Scout

March 23rd, 2010
4:41 pm

Bosch:

Here you go …………. get in step !

http://www.youtube.com/watch?v=HhsWzJo2sN4

md

March 23rd, 2010
4:41 pm

“If they choose to leave, they’re damagaged goods for right now. Who’s gonna take them? If I had a choice to make $8mil a year vs. sit at home, I’m gonna take the $8mil. But that’s just me.”

This is an area where I don’t agree with pure capitalism. The boys at the top need reform. When they all sit on each others boards and control the compensation of each other, that is a broken system – the good ole boy system if you will. I liken it to sports coaches – they lose all over the country, but keep getting the top jobs. Same with the current crop of ceo’s – they go from one corp to another pilaging and stealing and parachute out to a soft landing at the corp next door to do the same thing.

I’ll glady vote to break up that corrupt system.

Bosch

March 23rd, 2010
4:42 pm

Scout,

I march for no one.

~~~~~~~~~~~

SoCo,

Don’t start with Fluke – that one is stupid. I suggest “Lamb” – that’s his best.

getalife

March 23rd, 2010
4:42 pm

nif,

How is your party going to sell fighting for the banks to the tea party?

N-GA

March 23rd, 2010
4:43 pm

DTS….Tell that to the Delta retirees whose stock became worthless. I only had 25,000 shares.

md

March 23rd, 2010
4:44 pm

“This is the opposite of what occured at Delta.”

For the life of me, still not sure why there was no classaction suit against the Mullin raiding party.

josef nix

March 23rd, 2010
4:44 pm

Swamper…
I’ve already decided, if I still have a job next year, that I’ll take my little ones to the Dome so they can see their new classrooms…

Dave–
Thanks for the vote of confidence.

AmVet

March 23rd, 2010
4:45 pm

HEY! I GOT IT!

Lets enact tax breaks for companies that move production offshore and other policies that destroy American jobs.

AND THEN!

Let’s put a bunch of loopholes in the law that allow corporations to exploit the tax code to move those jobs overseas!

WHAT? REALLY? The previous administration already did that?

Never mind…

Hillbilly Deluxe

March 23rd, 2010
4:46 pm

Apparently, $500,000 plus stock options is enough to live on in this economy.

Give me the $500K and I’ll get back to you.

If I had a choice to make $8mil a year vs. sit at home, I’m gonna take the $8mil.

Me too, but next year you can find me at the house. :lol:

If you were a hot dog, and you were starving, would you eat yourself?

I can’t eat a hotdog; I just can’t bring myself to eat anything with 2 navels.

And finally on the execs hanging around, anybody who’s ever been around a sow with pigs knows that the pigs will stay as long as the sow will let them. They have to be forced into the weaning process.

Drain The Swamp (NIF)

March 23rd, 2010
4:46 pm

getalife

Fighting for a capitalistic system as opposed to the garbage that is being dumped on us will be easy. But the real question is how is your party going to avoid the fact that they passed TARP, not a Republican Congress.

See? This is the trouble with being in charge for the past three years. All the socialist screw-ips are coming back to bite you.

TaxPayer

March 23rd, 2010
4:47 pm

There was no hate in my words, swamp. Further, the people that I referred to were not more successful than me. Perhaps you were thinking of yourself.

jefferson

March 23rd, 2010
4:47 pm

They ain’t worth that kind of jack. Public companies should have caps, private companies knock yourself out. Its all out of whack. This is not new.

Drain The Swamp (NIF)

March 23rd, 2010
4:48 pm

N-GA

**DTS….Tell that to the Delta retirees whose stock became worthless. I only had 25,000 shares.*

Did you read the disclaimer telling you that you could lose all your money when you made the investment? I can understand your anger, but that still doesn’t change what your rights are. If you can’t afford to lose the money, I would suggest a mattress.

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:48 pm

I just can’t bring myself to eat anything with 2 navels.

ROFLMAO!!!!!

Bosch

There’s so many floating around the office. Foot chases gone bad, car chases, and all kinds of stuff. I think most of them come from youtube.

Dave R.

March 23rd, 2010
4:49 pm

Or maybe AmVet, we just get rid of the unions and allow employers to pay people according to what they do, rather than what they want to be paid.

Maybe some more moderately paying jobs will make their way back here.

josef nix

March 23rd, 2010
4:49 pm

SoCo–

You know me. I say bring the troops home from their fool’s errand and post one every 20 yards along that border and put a stop to the crossing. Then deal humanely with the ones already here who came in under the wink-wink policies of the bidness-community.

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:49 pm

Gotta run and transform into Mr. Domestic and get food on the table.

See y’all later…

Drain The Swamp (NIF)

March 23rd, 2010
4:49 pm

Taxpayer

You are correct. I do not make millions. I’m a bit surprised that you do.

Of course, I am from another planet.

Southern Comfort (متعة الجنوبي)

March 23rd, 2010
4:52 pm

josef

I had one today that I knew was bad. Fortunately for him, I’m not the decider and have to report to a supervisor. If not for that, he would have been on his way back across the ocean tonight. The business community is one of my biggest issues w/immigration. It’s getting close to summertime, so we’ll have our hands full of “tourists” who’re coming here to work.

TaxPayer

March 23rd, 2010
4:52 pm

You are correct. I do not make millions. I’m a bit surprised that you do.

Of course, I am from another planet.

Unfortunately, the last two recessions took me out of that bracket. But I’ll be back.

josef nix

March 23rd, 2010
4:53 pm

Hey, I’ve got an idea…let’s give a tax break to those corps and execs who donate $10,000 or more to every public school employee under the administrative level in a given school district…

Hillbilly Deluxe

March 23rd, 2010
4:54 pm

I say bring the troops home from their fool’s errand and post one every 20 yards along that border and put a stop to the crossing. Then deal humanely with the ones already here who came in under the wink-wink policies of the bidness-community.

But how would any politician get a political advantage from doing that? ;-)

Drain The Swamp (NIF)

March 23rd, 2010
4:54 pm

Taxpayer

When you get back, (and I am honestly praying that we all do), will it be OK if the government steps in if you are making too much too quickly and starts to limit your income? I’m sure somebody somewhere will have a good reason.

NJ

March 23rd, 2010
4:54 pm

Yes, that is largely because they bought and paid for, along with wealthy Republicans, their own grassroots movement called “The Tea Party”

An expose of these people can be found at:

Majority Of Tea Party Group’s Spending Went To GOP Firm That Created It
January 3, 2010 by teabuster

he political action committee behind the Tea Party Express (TPE) — which already has been slammed as inauthentic and corporate-controlled by rival factions in the Tea Party movement — directed almost two thirds of its spending during a recent reporting period back to the Republican consulting firm that created the PAC in the first place.

Our Country Deserves Better (OCDB) spent around $1.33 million from July through November, according to FEC filings examined by TPMmuckraker. Of that sum, a total of $857,122 went to Sacramento-based GOP political consulting firm Russo, Marsh, and Associates, or people associated with it.

OCDB, which built the Tea Party Express, is essentially a Russo, Marsh creation, as we’ve detailed. The PAC’s site was registered in July 2008 by Sal Russo, the firm’s founder. That site also lists Russo as the PAC’s “chief strategist.” Tea Party Express fundraising emails, sent by OCDB and obtained by TPMmuckraker, come from another Russo, Marsh employee, Joe Wierzbicki.

Just for good measure, legendary GOP bamboozler Howard Kaloogian is also on OCDB’s board, and has close ties to Russo, Marsh.

From July through November 2009, the firm received $832,403 from OCDB, according to the FEC records. An additional $8,500 went to Russo himself. And Wierzbicki took in $16,219….

The services for which Russo, Marsh was paid appear to be legitimate campaign needs. For instance, it took in several hundred thousand for what OCDB listed in the FEC filings as “PAC Email Newsletter Costs – Generic Fun.” That would appear to refer to the numerous fund-raising and activism emails sent to volunteers to promote and build the Tea Party Express — a nationwide bus tour to build opposition to the Obama agenda — many of them by Wierzbicki.

But one expert on political action committees told TPMmuckraker it was unusual for a PAC to direct so much spending back to the entity that created it. And the spending details raised hackles among members of the Tea Party Patriots, a rival faction of conservative activists who have denounced TPE as a creature of Republican political professionals that lacks grassroots authenticity. In an email to a Patriots group that was obtained by TPMmuckaker, one TPPer who had examined the filings asked, “What would the true grassroots people think if they knew their money is being spent in this manner?”

A message left in the general mailbox for Russo, Marsh was not immediately returned.

http://teabusters.com/

AmVet

March 23rd, 2010
4:55 pm

Dave, not bad. Americans organizing for better working conditions, workplace safety, etc is so 20th century.

But I like my idea better.

It is MUCH, MUCH more effective at improving corporate profits. Wouldn’t you agree?

It is just so…what’s the word? Oh yeah. Conservative.

md

March 23rd, 2010
4:56 pm

I just heard that since SS is in such sad shape, the dems are going to take all the private pension plans in the country and combine them with SS. They believe everybody has a right to retire equally. Taxpayer should be happy about that.

AmVet

March 23rd, 2010
4:56 pm

BTW Dave, what do you think of my proposal at 4:27? (ISH)

Dave R.

March 23rd, 2010
4:57 pm

Or we could just stop bailing them out and let them pay their C-level employees whatever the market will bear for their talents. What a concept!

Bosch

March 23rd, 2010
4:58 pm

josef,

“let’s give a tax break to those corps and execs who donate $10,000 or more to every public school employee under the administrative level in a given school district…”

YESS!!!

@@

March 23rd, 2010
4:58 pm

Stock options? Hmmmmmm

So the only way to get back what was taken is to raise their company’s stock value?

Alrighty din!

Dodd Financial Regulation Bill: Super Regulators Not the Answer

The difference between these legitimate and traditional activities and those the Volcker rule seeks to ban would be difficult if not impossible to determine. Attempting to do so would require an intrusive, expensive regulatory compliance system that by its nature would micromanage day-to-day activities without any significant reduction in systemic risk.

Whoopee! Another bureaucracy unable to guarantee results.

They’re growing like mushrooms.

TaxPayer

March 23rd, 2010
4:58 pm

Swamp,

If I have to go begging to the government for money to stay afloat and one of their stipulations for loaning me the money is that they get to determine my salary until I repay them in full, then fully expect to have two choices at that point — take it or leave it. That’s life in the big city.

Drain The Swamp (NIF)

March 23rd, 2010
4:59 pm

NJ

After this thuggery that we just witnessed are you just dumb enough to try and inspire outrage at Republicans?

Good luck with that.

Dave R.

March 23rd, 2010
5:01 pm

Sorry, AmVet, but for every Delta nightmare there are about a thousand or more companies out there that are run very, very well with talented people who do what they do best – make money for their company and create jobs.

Pay ‘em what the market will bear, and let the stockholders and consumers vote with their actions if they don’t like it.

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin...

March 23rd, 2010
5:03 pm

It says something about the horrible obozo economy, doesn’t it?

Nowhere to go because there is nothing.

Besides which, I’m willing to bet that their pay got deferred and not cut, just sayin..

TaxPayer

March 23rd, 2010
5:04 pm

Taxpayer should be happy about that.

Life’s too short not to be happy.

josef nix

March 23rd, 2010
5:06 pm

BOSCH

I would postulate that it would fall under capital reinvestment. I knew I’d get your vote on this one! Tell Ms. B we might just be able to get a movement started, meanwhile would she like to bring hers to the Dome for instruction in socio-political economics and fiscal responsibility? :-)

Hilbilly–
Well, lessee. if the regularization of the status of those already here brought with it the potentiality of some 12,000,000 votes…?

Dusty

March 23rd, 2010
5:10 pm

Honestly, we have so many people here who know how to make millions. I am truly impressed. Maybe that is why they can sit here most of the day and tell us how to run big business.. Otherwise, I might think there is a bit of wealth envy if I didn’t know better.

But, of coure not. It is just care and concern for the USA. That is why they want everybody’s healthcare the responsibility of the government. They CARE about the poor little obese Americans dying in the street everyday from starvation and lack of doctors at their fingertips.

I just love it. All that care and concern with somebody else to pay for it.

josef nix

March 23rd, 2010
5:13 pm

Dave R…
My ranh-ranh is that these corps, “too big to fail,” want to have it both ways. They’re all for laissez faire until they hit the downside, then it’s “fan me, Prissy…”

josef nix

March 23rd, 2010
5:14 pm

Dusty–
Now, now. You know that a healthy worker is a productive worker. Public health is in all our best interest. It’s more cost effective.

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin...

March 23rd, 2010
5:16 pm

Who will pay all of the taxes you socialist goons are fixing to unleash on us?

josef nix

March 23rd, 2010
5:17 pm

IR/YQ @ 5:16

You will, like it, lump it, love it or leave it…

stands for decibels

March 23rd, 2010
5:18 pm

Yours could be next. No one is safe under the “March of Marxism” !

You can only get suckers to fall for that line of BS for so long, Corporal.

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin...

March 23rd, 2010
5:19 pm

Anybody else notice, pardon me for not reading back through the gibberish, that the government hacks at GM got paid more than anyone else?

Just sayin….

josef nix

March 23rd, 2010
5:20 pm

It’s not the march of the Marxists. It’s the march of the Jacobins.

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin...

March 23rd, 2010
5:24 pm

yosef- When the jackboot Gestapo IRS agents that obozo is hiring show up at the front door, they will be the ones “leaving,” just sayin….

I know what the Constitution says, and libs are like outside the boundaries of it, this column^^ is an excellent example of this, lifelong losers should not be able to meddle in the private lives of freeborn American citizens.

We will reign you in, one way or the other.

Dave R.

March 23rd, 2010
5:27 pm

josef, I agree about the whole “too big to fail” mantra.

If one of these companies or banks or investment firms failed and the government refused to bail them out then, and only then, would we see REAL reform. And it would only take government keeping their hands OFF to accomplish it.

@@

March 23rd, 2010
5:28 pm

Joe Biden: The 67-year-old former senator introduced President Obama prior to his signing of the historic health care reform bill into law on Tuesday, and let the colorful word slip while shaking the commander-in-chief’s hand.

“You did it,” Biden told his boss. “It’s a big f—ing deal.”

YET IT IS!!!

The majority of Americans and myself are feelin’ the screw.

AmVet

March 23rd, 2010
5:28 pm

Let me share with you good people a little story that happened here in Atlanta.

Do you remember a small company called MindSpring?

They were one of the early players in the burgeoning ISP business.

Fantastic company! Recognized as providing the best support in the country. By a country mile.

But alas, a monolithic POS called Earthlink in California bought them up.

And within a short period of time decided that rather than continue that award winning and stellar service, it made more sense to send virtually all the Mindspring jobs to India.

The service and customer satisfaction ratings dropped like Republican popularity in 2006.

In their race to the bottom, they screwed their customers and employees.

I wrote the CEO and told him that in my position I had heretofore recommended many people use Mindspring, but that was NOT the case anymore.

I also advocated that he bring all those jobs back to this country and let an Indian CEO take his position. For MUCH less money. Which would of course help corporate profits.

I never received a reply…

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin...

March 23rd, 2010
5:29 pm

Oh, by the way, health care is dead, D-E-A-D, dead.

We will never fund it, hahahahahaha.

Republicans will be in charge of the entire US economy in November, just like the dummycrats were before the Great Recession started, and we will never, ever appropriate tax dollars for this illegal act.

We are the man.

Dusty

March 23rd, 2010
5:29 pm

Aww Josef, we got public health already and have had it for years. What we are getting now is universal healthcare which is not just for workers except for the expense.

We also have some very hard workers from countries that don’t even have public health. Amazingly they work hard because they want to take care of their families, not because they are so healthy. Good motivation is synonymous with inspiration. Healthcare alone does not give us the almighty “lift”.

But one thing for sure, universal healthcare with give us less money to supply our needs.. Higher taxes, that is. That always comes with that lovely term….universal healthcare.

DoggoneGA

March 23rd, 2010
5:31 pm

“And it would only take government keeping their hands OFF to accomplish it.”

Yeah, well…who approved the mergers that let them get so big in the first place? If the government did it’s job on the “near monopoly” front…they wouldn’t get that big in the first place.

Drain The Swamp (NIF)

March 23rd, 2010
5:32 pm

AmVet

Remember the Gwinnett Daily News? Their offices were right off Beaver Ruin.

They were bought by the NYT and shut down because they were killing the AJC. Lots of people lost their jobs over the fact that the AJC couldn’t compete with a non-liberal newspaper.

Dave R.

March 23rd, 2010
5:34 pm

Doggone, why should government approve the mergers of any two companies?

DoggoneGA

March 23rd, 2010
5:35 pm

“Lots of people lost their jobs over the fact that the AJC couldn’t compete with a non-liberal newspaper”

Never mind that they never made a profit and right before they went under some idiot at a bank lent them millions to build that fancy new building…that is now (or at least was, the last time I looked) a service center for Outdoor World.

DoggoneGA

March 23rd, 2010
5:36 pm

“Doggone, why should government approve the mergers of any two companies?”

To prevent monopolies, or so they say.

Jay

March 23rd, 2010
5:37 pm

Swamper, in the alternative version of reality known as Planet Earth, the New York Times bought that paper hoping to compete with the AJC, and found that it could not.

The idea that the Times spent many millions on that paper and then closed it at a huge financial loss just to help out the AJC is … novel.

Dave R.

March 23rd, 2010
5:38 pm

What is so bad about monopolies? If they do well, they are great. If they don’t, new entrepreneurs can just work hard to provide something the monopoly doesn’t do well.

Worked before.

DoggoneGA

March 23rd, 2010
5:40 pm

“What is so bad about monopolies?”

Learn something. Check out the history of Standard Oil.

@@

March 23rd, 2010
5:42 pm

Hugooooooo!!!!!

The language is unusually clear: if the new systemic risk regulator so chooses, any company engaged in routine business transactions can suddenly be deemed “financial” and subject to bank-like regulation.

The list of companies that might find themselves subject to new Federal Reserve regulation is as deep as the U.S. economy itself. An airplane manufacturer that holds customer down payments for future delivery, a large home improvement chain that invests its profits as part of a plan to increase revenues, and an energy firm that makes markets in derivatives are all engaged in “financial activities” and potentially subject to systemic risk regulation. Under the House bill, and even more so under the Dodd legislation, companies that had absolutely nothing to do with the financial crisis of 2008 are finding that they are the object of so-called “financial services reform”.

Why would the systemic risk regulator seek to make regular American businesses subject to bank-like regulation?

http://online.wsj.com/article/SB10001424052748704896104575140082448673438.html?mod=googlenews_wsj

Why indeed? Tell me you leftists aren’t on board with this level of expansive reach!

Please tell me you’re not!

Dave R.

March 23rd, 2010
5:42 pm

Jay, I know its off topic, but now that you’re paying attention up here, how about answering my query from below?

If Matheson’s brother was so qualified to serve at the U.S. Court of Appeals level, why hadn’t he served a day on any bench anywhere before? What previous experience did he have to serve, as his first-ever judicial job, on a court one step below the Supreme Court?

Make your case that it wasn’t a bribe for his brother’s vote.

getalife

March 23rd, 2010
5:44 pm

“First Corporate Campaign Ads Appear After Supreme Court’s Citizens United Decision.”HP

This is what a con SC looks like.

Wall Street called it a big f u c k ing deal.

Your Internal Revenue/Healthcare Service

March 23rd, 2010
5:44 pm

I Report (-: You Whine )-: Impeach Drunken Fool obozo! Just sayin…

March 23rd, 2010
5:24 pm

yosef- When the jackboot Gestapo IRS agents that obozo is hiring show up at the front door, they will be the ones “leaving,” just sayin….

Please report to your nearest dotgov website.