We bank at B of A but we have our savings in our 401ks and the Kaiser Permanente Credit Union. I wonder about my mortgage, however. I think it's gone full circle and is backed by B of A now, but I'm not positive.
Are you kidding me? The pay is adequate, and the pension is unbelieveable. I know of 3 people who retired at age 55 with basically their full paycheck still coming. Sure, you won't be a millionaire, but the retirement benefits are unreal.
I bank at BofA and was going to open a business checking account there next week in fact. I may reconsider and go with HSBC who I have an HSBC Direct account wiff.
Yes, the retirement plan is very nice. But the pay is not comparable to the private sector. Depends on what you value most, of course. barfo
One thing that gets hammered home in any venture capital group is that if you have to choose, pick good management over a good idea. In other words, investing in good management is critical. $500K is a pittance--a halfway decent senior associate/AVP at one of these firms makes that. Incentives matter. And like it or not, you have to pay for decent management. If you can only offer $500K, you're going to end up with a buffoon who will require an even larger bailout.
The taxpayers do not understand or agree with that point - taxpayers have never been willing to fund high management salaries, so there is no reason to expect them to do otherwise in this case. barfo
Taxpayers already fund relatively high salaries plus infinite perks/kickbacks in Congress. Is there a "public servant" who comes out of DC that isn't set for life after living on the taxpayers' dole?
These aren't "unprecedented" times. This is a deep recession. It doesn't even appear as if it's going to be as bad as the one we had in 1982. Yet, we as a society are so fucking coddled, that we can't tolerate the natural business cycle anymore. This isn't a stimulus package; it's a spending bill. If you want the recession to end, let the market work. Asset values will drop until the market clears. When it clears, the market will come back. Interfering in the natural mechanics of the market, hoping to stop the decline, just slows the decent and lengthens the recession. Oh, and it has the byproduct of putting future generations deeper in the hole by increasing their debt load.
What if the loans the government forced you to make caused your business to tank? It's the sub-prime mortgages backed by the GSE's that triggered this tsunami.
hey, but the janitors are top notch! that's the thing with "executive compensations". the "best" demand the best, people below them are invariable replaceable parts but the top leadership.....there's only so many people who are up to the task I believe.
In that case, the perks are pretty nice, but the salary ($174K) isn't that high. Although it is hard to compare that to a private sector salary, since there isn't any such thing as a private company congressperson. barfo
Yeah, but Mitch McConnell is going to have to keep either Susan Collins or Olympia Snowe in line, and that's highly unlikely. As long as Harry Reid and President Obama enforce party unity, the GOP leadership won't be able to stop the bill.
It's also virtually impossible to get fired. I mean even if you showed up at work and took off your clothes and stood on your desk, you would still keep your job.
Also, the leaders of government try to score cheap political points by picking on CEO's. Demonize a group of people long enough and most people will believe it, regardless of the evidence.
Actually, it's typically socialist leaders of government who score political and populist points by demonizing the evil CEOs of the private sector. It's really nothing new at all and is fairly predictable. As an added bonus, the politicians then get to consolidate their power as more private sector money becomes a part of a governmental program. Pretty soon, everybody is dependent to some degree on the government. I feel like I've been watching the History Channel for the past three months. It's been surreal.
The reason CEO salaries have increased while line workers' salaries haven't kept pace is that the market values those with more skills dramatically higher. And what's this idea that when CEO salaries were only 7 times that of the average line worker, that the 7x figure was the correct one? We've moved from an industrial economy to a technological one to a knowledge-based economy. Those without skills to compete will continue to fall further and further behind.
