grumpy
Thinks s/he gets paid by the post
- Joined
- Jul 1, 2004
- Messages
- 1,321
I have been listening to the CEO's of AIG and the big banks plead with the congress not to impose the 90% tax on executive retention bonuses. Their argument strikes me as fallacious. They say that they need to retain those employees who have the knowledge and experience needed to help unwind the mess those companies are in.
It was my experience, while I was still working that very rarely did executives know the details of what was going on. It was the working level folks, not the ones getting big retention bonuses, that really did the work and knew the nitty-gritty details. My take is that the best thing that could happen to these companies would be for the executives to leave (who would hire them?) or be fired and for the companies to promote the working level folks to positions of authority.
It was my experience, while I was still working that very rarely did executives know the details of what was going on. It was the working level folks, not the ones getting big retention bonuses, that really did the work and knew the nitty-gritty details. My take is that the best thing that could happen to these companies would be for the executives to leave (who would hire them?) or be fired and for the companies to promote the working level folks to positions of authority.