I'll tell ya, it's not the CEO's fault

[Patriought]

All the criticism being directed at these corporate ying-yangs, misses the essential point. That it is the system itself to blame, not the CEO's who were just doing their jobs...which is to make profit for the companies they work for.

If a CEO can increase profits by drilling in wetlands, or laying off a thousand workers, then even though it may be morally reprehensible even though it may not be in the best long term interests of the company itself, that's the CEO's job.

The problem lies with the laws that allow the CEO to bleed companies white- in the name of short term profit- then be cast contemptuously aside while the CEO goes off with 50 Million in bonuses and stock options.

If we need to lay blame, we need to point at the politicians and the people who elected them, for allowing the selfish-yet good for business practices- for allowing the system itself to become corrupted to the point which made it all possible.

[Heidi]

1. Doesn't this completely let big businesses off the hook for failing

to police themselves and protect their stakeholders? A CEO who bleeds the company "white" and still is willing to accept exorbitant compensation certainly is not doing his/her job. Responsible leaders know that profit is not the sole measure of success.

[HughBeaumont]

2. Yes it is.

By and large, they chose to be Freidmanite Republican bastards instead of philanthropic responsible entities who cared more about their company and country's long term economic health rather than lining their own coffers aided by politicians lining their own coffers.

I mean, whoever thought that an economy almost entirely centered around war, insurance, drugs, non-renewable and finite energy and speculative financial instruments (almost all of which is unstable, risk-based and centers entirely around profit and wealth concentration . . . at the TOP) would blow up in our faces? I mean, it's not as if this ever happened before 2001-2008!!! Oh wait. IT DID.

Slow, taxed, regulated and boring is the best way.

Once again, does everyone want this economy to get better?

Employ us. GAINfully. Stop the goddamned mass firings. Firings are not helping. Firings in even one company will cause the rest of us not to spend. We're not buying anything because we're tapped out and scared. Scared people are not good for your business. CEOs buying luxury items, like other companies, and firing all of their workers does not help the economy. I don't know what sort of clue-by-four needs to be administered to their heads, but they need to have one soon.

Also, don't toss this "lower my taxes" bullshit at us. I don't pretend that empty wallet is going to get filled with lower taxes. It will get filled by a raise. It will be spent with a raise. Multiply this by 200 million, and you got yourself an economy again.

[jeff30997]

3. Those poor CEOs...

If a CEO can increase profits by poisoning everybody or investing in organ trafficking (Oh the

compassionate CEO would do it if he had a chance to get away with it)well that's fine because he is

just doing his job.The slave traders were just doing their jobs and the SS were just

obeying orders you know.Lenin(the scumbag) was right when he said that"A capitalist will sell you

the rope to hang him with".

[Waiting For Everyman]

4. The problem is that kind of thinking. nt

[JVS]

5. The CFO also shares blame.

[Speed8098]

6. Here's how I see it.

My company does an enormous amount of business with the NYCTA, MTA, PA of NY/NJ. NYDEP, NYDOS and I can tell you they are spending money in all the wrong ways and raising rates on consumers is not the way to go.

Let me give you one little example and I'll move on.

I just signed a $500,000.00 contract to replace many overhead doors throughout many of the MTA bus terminals. Now there is nothing wrong with the existing doors, they seem to perform the function they are designed for with little or no maintenance.
Yet they are being replaced because the city designers(architects) don't like the idea that some of the doors are of different brands than the others and they want consistency throughout the city.
(good for my company, bad for the city)

To install ONE of these doors can be as much as $65,000.00 or as low as $15,000.00 depending on the dimensions and use of the overhead door. AND THIS IS JUST THE MTA. I'm not even going into the train yards, subway stations, sanitation departments, and any other transportation entity controlled by the city. And the funny thing is that there are 4 or 5 different project managers on each project who have no clue what the other is doing and so major change orders are being written every day.

The problem is administration. Get that under control and you'll get spending under control.

Barack Obama is correct, the problems start from the top down and once that's truly recognized and dealt with, things will start to turn around.

I'll take experience over education in some situations any day.
Stop rewarding incompetence and start holding managers and vice presidents accountable. Promote the deserving and trim the fat of those who aren't performing and relief will eventually follow.

Just my $.02

[frogcycle]

7. In large part you are right

The "system" that provides for obscenely large bonuses, both for CEOs, and for the financial industry ponzi operators like investment bank traders, hedge fund managers, etc. based on instantaneous "metrics" drives decisions.

There is no room in that system for long-term planning. USA, Inc. cannot compete with Japan, Inc because we are the grasshopper and they are the ant.

Unfettered capitalism is NOT a good system. Regulation, planning for the common good is essential. Unfortunately too many think in terms of all black or all white, and call any suggestion of restraint "anti-American", socialist, etc. when in reality it is absolutely essential. The 1920's and the 2000's have proven that twice now.

With the exception of the railroads in the 1880's and the interstate highways in the 1950's, war has been about the only stimulus for serious r&d (I put the space program under the "cold war").

Bill Ford tried to be a forward-looking CEO and the system booted him upstairs so it could focus on this week's numbers.

[Demeter]

8. Organized Fraud IS the CEOs Fault

You can't blame the "system" for that--and the "government" comes in for a share of that crime, too.

[Romulox]

9. Americans LOVE a scapegoat.

The American psyche is defined in equal parts by finger-pointing and hypocrisy. The average American is every bit as selfish as the most vile CEO...

[baldguy]

10. The CEOs MADE the system.

The very reason regulations have become non-existent under the GOP is because corporations WANT it that way.