My OperaExecutive Protection - Risky Business
Wednesday, March 28, 2012 2:04:40 PM
What is harder to understand is why so many on Wall Street carry on and prosper while Main Street is still in shambles.
Perhaps the most blaring of the Wall Street bling is what has become the hated catch-phrase of this recession: executive compensation. While there have been rumblings and rumors from this from day one of the financial meltdown, reports ended up in October that the executives with the top seven banks receiving government bailout money would also be receiving billions in bonuses. Big bonuses to the Wall Street elite is not new news, a fact Time magazine recently pointed with the article on the longer history of executive pay.
In that 1890s, banker J. P. Morgan made 20 times what the average worker earned. By 1991, CEOs were earning 140 times what small guy made. The trajectory of executive pay is constantly on the rise, with an typical S& P 500 top executive in 2007 earning in mere three measly hours what a minimum-wage worker made in the year. Believe it and not, Plato recommended that top earning individuals within a society should never make more than five times what the lowest earner was paid.
Why do these executives get paid so much? If you properly, they deserve every penny because their prosperity is important for everyone else to help prosper, too. Goldman Sachs world chairman recently said, "We have to tolerate the inequality in order to achieve greater prosperity for many. " The research to help back these claims has to date been mixed. However, there's some empirical evidence that Wall Street pay has reached a level that no longer encourages the prosperity-for-all claims.
The recession certainly generally seems to bear that data available. The indignant uproar over executive compensation at agencies that received bailout money has led to the appointment of a "pay czar. " Treasury Department official Kenneth Feinberg may be commissioned with reining inside pay of the prime 25 executives at each of the seven financial companies receiving the largest portion of bailout funds.
The pay czar proposes to cut salaries and bonuses of the top executives in about half, capping salaries at $500, 000 together with bonuses at $25, 000. The hope is that will limiting the compensation can in turn limit the quality of risks financial executives are prepared to take. The Federal Reserve plans to take limiting risky banking even further. According to the Linked Press, the Fed proposes to monitor executive pay at 1000s of banks, even those that didn't be handed a dime of bailout funds.
The reality is that Wall Street will always make even more than the average (and the not-so-average) Joe on Main Street. The argument may be made that these are very talented financial wizards which do more good than Main Street realizes. However, the Great Recession provides a powerful counter argument about an excessive amount pay and a cautionary tale about taking too much risk.
.
In 2006, Bodyguard Careers did a tale on the need with regard to trained female bodyguards. The need for women in this executive protection field has continued to grow. In India, a new program has been established for ladies to learn bodyguarding skills, to meet increasing demands. Female clients are more frequently requesting female bodyguards.
Headhunters Austin
Perhaps the most blaring of the Wall Street bling is what has become the hated catch-phrase of this recession: executive compensation. While there have been rumblings and rumors from this from day one of the financial meltdown, reports ended up in October that the executives with the top seven banks receiving government bailout money would also be receiving billions in bonuses. Big bonuses to the Wall Street elite is not new news, a fact Time magazine recently pointed with the article on the longer history of executive pay.
In that 1890s, banker J. P. Morgan made 20 times what the average worker earned. By 1991, CEOs were earning 140 times what small guy made. The trajectory of executive pay is constantly on the rise, with an typical S& P 500 top executive in 2007 earning in mere three measly hours what a minimum-wage worker made in the year. Believe it and not, Plato recommended that top earning individuals within a society should never make more than five times what the lowest earner was paid.
Why do these executives get paid so much? If you properly, they deserve every penny because their prosperity is important for everyone else to help prosper, too. Goldman Sachs world chairman recently said, "We have to tolerate the inequality in order to achieve greater prosperity for many. " The research to help back these claims has to date been mixed. However, there's some empirical evidence that Wall Street pay has reached a level that no longer encourages the prosperity-for-all claims.
The recession certainly generally seems to bear that data available. The indignant uproar over executive compensation at agencies that received bailout money has led to the appointment of a "pay czar. " Treasury Department official Kenneth Feinberg may be commissioned with reining inside pay of the prime 25 executives at each of the seven financial companies receiving the largest portion of bailout funds.
The pay czar proposes to cut salaries and bonuses of the top executives in about half, capping salaries at $500, 000 together with bonuses at $25, 000. The hope is that will limiting the compensation can in turn limit the quality of risks financial executives are prepared to take. The Federal Reserve plans to take limiting risky banking even further. According to the Linked Press, the Fed proposes to monitor executive pay at 1000s of banks, even those that didn't be handed a dime of bailout funds.
The reality is that Wall Street will always make even more than the average (and the not-so-average) Joe on Main Street. The argument may be made that these are very talented financial wizards which do more good than Main Street realizes. However, the Great Recession provides a powerful counter argument about an excessive amount pay and a cautionary tale about taking too much risk.
.
In 2006, Bodyguard Careers did a tale on the need with regard to trained female bodyguards. The need for women in this executive protection field has continued to grow. In India, a new program has been established for ladies to learn bodyguarding skills, to meet increasing demands. Female clients are more frequently requesting female bodyguards.
Headhunters Austin
