Sunday, February 01, 2009

If you take the king's shilling...

The first thing I heard on the televisor this morning was our Dear Leader's newest plan for those Eeevil fat cats:

Apparently they make too much money, and so part of the new federal Monopoly money printing scheme Five Year Plan from Senator McCaskill (Harpy-MO) is language saying that no employee of a company that gets bought by the government suckles at the government teat receives federal bailout money can earn more than our Dear Leader, which is to say $400k/yr. I am probably not alone in hoping the fricken' New York Yankees take some bailout money under those terms.

Ah, well... I guess if you take Comrade Lenin's shilling, you gotta dance to some of that awful socialist men's military chorus music.


(PS: I note that they're going on about restricting executive salaries to no more than the Prez makes, but will they be allowed the same awesome perks, like room and board in a company-owned mansion, a private 747 at their beck and call, and nuclear launch codes?)

20 comments:

Robert said...

Takes a lot of gall to critize working folks for making a profit when you are proposing a trillion bucks in deficit spending and eating those 100.00 wagyu steaks.
What an ass. And he just surrendered to the Iranians.

Joseph said...

I wonder where all the contributions to political campaigns will come from?

Tam said...

As long as Hollywood doesn't need any bailout cash, the Democrats should be golden.

perlhaqr said...

Takes a lot of gall to critize working folks for making a profit[.]

Well, I'm pretty sure the phrase "making a profit" doesn't really apply here now does it? If they were making a profit, they wouldn't need to be long-distance mugging me.

Legman688 said...

Given that these are the assholes primarily responsible for running their companies into the ground, it seems perfectly reasonable to me. If you're such an incompetent senior executive that your company has to beg for a handout from Uncle Sam, then you have to play by Uncle Sam's rules. And I'm quite happy to not have my tax dollars paying for these fucktard's private jets, Mercedes-Benzes and Dom Perignon.

Now if Obama, with his anti-business attitude, wanted to do something to really make me happy, he would ask Congress for a law (n.b. ASK CONGRESS for a LAW, none of this bullshit that he is going to "rule" through executive orders) making senior executives - VPs, CFOs, COOs, CEOs, presidents, etc, of major corporations personally liable for their employees' severance pay and pensions in the event they run their companies into the ground. I have yet to figure out how this would be unConstitutional (at least more than any other business regulation) or any downside. I'm pretty sure we'd see a jump in the competence of senior business management right pronto.

Sean said...

Tam,
Can you shoot me an email please? I have a quick price guestimate favor to ask of your expertise if you don't mind. Thanks.

Turk Turon said...

Take my advice and NEVER watch those Sunday morning newschat shows; it just encourages them.

Joe Huffman said...

Just give me the lauch codes and I'll find a way to acquire the salary and perks.

And the next Boomershoot would be the event of a lifetime.

Brian J. said...

Best thing is it will cap the salaries for the indefinite future, not just the ones who run the country into the ground, hey?

So Congress will run the best out of the business, leaving people who aren't smart but schmooze Congress well in those positions. Pretty much meaning that these institutions will turn into adjuncts of Congress.

As planned. I mean, I hope it's planned. A Marxist conspiracy is much more fulfilling than a bunch of unconnected leftists tugging the country into irrelevance.

Ed Foster said...

Can I just have the nuclear launch codes?

Nathan Brindle said...

Capping executive salaries isn't going to stop anything nefarious from going on.

We ought to bring back hanging in the public square for mismanaging execs caught with their hands in the cookie jar.

That might focus their attention a little more tightly on the bottom line.

(And we need the same punishment for corrupt Congresscritters and Executive Branch flunkies (including the sitting president).)

OA said...

Near every time I hear the Sainted Leader speak I can't help but think of C. Montgomery Burns crabassing "Bolshevism! Sheer Bolshevism!".

Robert said...

Nice post, Tam.

Oh, and about those unicorns...

http://i43.tinypic.com/2vc70i1.jpg

kbarrett said...

Robert: Sauron would be an improvement over the current occupant.

David said...

The administration is being a lot kinder than I would. First off make me dictator for a day and there would be no bailouts unless congress first steps up and individually takes the blame for the entire damned mess.

Also any company "too big to fail" is obviously not too big to break into smaller pieces. But if for some reason there was bailouts there would be two rules.

If you take government bailout money, the entire board of directors, the CEO and the 2 layers of management below him are immediately fired. No severance pay, no golden parachutes, no references for future employers. If you are so bad at your job that you need the government to bail you out you don't deserve your job.

I'm sure there are a lot of young college graduates out there that would be glad to try and do a better job of managing that company for a lot less than the current management is making.

Secondly ALL union contracts and agreements with that company would be immediately null and void and would have to be renegotiated with the new management.

Old NFO said...

They are desperately trying to figure out a way to bail the companies out without having to actually DO anything like have them renegotiate outrageous Union wages... I think the figure if they can re-direct attention long enough, they can get away with it.

kbarrett said...

Yep ... this isn't a corporate bailout ... this is a union contract bailout and a bank-forced-to-lend-to-welfare-rotters bailout.

The proper response, bankruptcy and foreclosures, would throw a bunch of union members out of work, and force a bunch of Democrat core constituents out of their homes ... both welfare rotters, and yuppie flip-that-house idiots.

Ain't about the economy or companies that cannot be allowed to fail ... it's about servicing their constituents at our expense.


( word ver: horspe ... how very very appropriate. )

Hollywood said...

"As long as Hollywood doesn't need any bailout cash, the Democrats should be golden."

Don't-cha worry your lil head honey, we've got OUR bailout taken care of right-cheer:

National Journal reported this week that the Senate's economic stimulus bill includes a provision that would make Hollywood studios eligible for a special 50% write-off of equipment purchases. According to the report, "the provision is backed by firms like the Walt Disney Co., and the industry trade group the Motion Picture Association of America."
The House version of the stimulus already includes a bonus depreciation that lets businesses immediately write off 50% of their 2009 capital expenditures. But the Senate bill expands the definition of "qualifying property" -- specifically to include "certain motion picture film or videotape."

Tam said...

AWESOME!

So Viggo and Kate are only getting 400k for their next film appearances!

TBeck said...

If we're using the President's pay scale as a measuring stick, then each executive should be able to receive, tax free: a small air force to fly them around the world, 24/7 chaffeur service (Tom Daschle will back me on this one), and a 24/7 security detail.

Plus, as any Chicago politician knows, the official salary is a fringe benefit at best.