...for executives at Toyota, Honda, Ford, and banks not participating in the TRAP ('oops,' TARP) program. Why?
The Treasury Department, headed by admitted tax cheat Tim Geithner, is deciding to cut the pay of top executives at GM, Chrysler, and banks which have taken TARP money by about half. Now I would tend to agree that the inbred nature of executive compensation probably results in exorbitant amounts of money going to the "good haired tall executives," as Scott Adams would put it, but the fact remains that every once in a while, there are things that only a seasoned executive can do.
You would figure that the owner of these companies would figure out that cutting everyone's pay would be a bad decision, as you've just told the ones who can get hired elsewhere that they'd better do so while the getting is good. However, if a man can't figure out Schedule SE, then probably he can't figure this out, either.
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