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POPSCBS News: Obama's Just Kinda Making Stuff Up About Jobs "Saved or Created" This report is not worth the paper it is printed on. Here is how the government defines how well the stimulus is working: “If a single dollar of Spendulus was spent on an employee's salary, whether that employee was a new employee or an old one, that gets counted as a job "saved or created." If he's a new employee, that job was created. If he's an existing employee, that job was saved.” How utterly ridiculous and useless is this rule? Resorting to lies to pat itself on the back. Don’t they realize how much worse this makes them look when they resort to this type of glad-handing?
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POPSBMW to Cap Executive Pay - wundervoll! Now let me get this straight. GM, Ford, and Chrysler have all lost market share in the US and complain that worker wages and benefits made them uncompetitive. Germans assembly line workers average $60,000 a year and BMW sales have not plummeted as US car makers have. And now, BMW says they are capping executive pay by establishing the current ration of difference 25-1 as THE ratio. According to the Bureau of Labor Statistics, the average U.S. worker earned $29,544. The ratio of CEO pay to average pay is 364:1 and to minimum wage is 885:1. So... Why is it that US car companies have trouble competing?
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POPSGalileo's Spyglass Using ever-more powerful telescopes over the next year, Galileo observed that the Moon was not perfectly smooth, as claimed by Aristotle, but cratered and mountainous. He spotted hundreds of stars previously untouched by human eyes. More critically, he discovered the four inner satellites of Jupiter - still known as the "Galilean moons" in his honour - and learnt that Venus, Earth's closest planet, goes through a full range of phases. Put together, his observations validated the revolutionary theory of Nicolaus Copernicus that Earth orbits the Sun, and not the other way round. Galileo understood the implications of what he had seen, but the Catholic Church was not ready to accept such heresy. Only in 2000 did the Holy See apologise for putting Galileo on trial in 1633, forcing him to recant his ideas lest he face imprisonment or worse. The Vatican also pays tribute to him in an exhibition that opened this month. I never knew that it was only in 20
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POPSJameco managers take paycuts so they don't have to layoff anyone. If we had more company's like this, the whole country would be in better shape. Obviously we'd still have problems but even if it cut the rise in unemployment by a small amount, it would make a big difference. Anyway, my hats off to these guys! I will definitely be buying my components from them in the future.
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POPSWashington cuts Wall Street's allowance But none of that stopped right-wing critics of Obama's alleged march to totalitarianism from piling on. "This is fascism," Rush Limbaugh burbled on his radio show. "They're still privately owned, but they're being run by who? Not even Obama, we're told. The freaking pay czar, who doesn't even have to tell Obama what he's doing. So he doesn't have to stop at the execs; he can limit the pay of the janitors. He can limit the pay of anybody he wants, and pretty soon it's gonna spread beyond companies that took TARP money." Fox News posted a lengthy article wondering whether Feinberg even had the legal power to set the pay caps, though there's broad agreement elsewhere that he does. "If bankers don't challenge this, if they supinely accept it out of fear of what the government will do if they do challenge ... then you have a nation of sheep," Fox's legal analyst, Andrew Napolitano, said.
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POPSWall Street Bonuses Vs. Normal Wages: A Disturbing Trend (CHART, VIDEO) A Goldman Sachs International adviser defended compensation in the finance industry as his company plans a near-record year for pay, saying the spending will help boost the economy. "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," Brian Griffiths, who was a special adviser to former British Prime Minister Margaret Thatcher, said yesterday at a panel discussion hosted by St. Paul's Cathedral in London. Read more at: http://www.huffingtonpost.com/2009/10/20/wall-street-bonuses-vs-no_n_324281.html
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POPSGoing Galt "There is no way this will work as advertised.......Chaos will be created at these firms as top people leave in droves. Will the administration then order people back to work? "
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POPS Pay Czar Targets Salary Cuts Mr. Feinberg is expected to issue by mid-October his determination on compensation packages for 175 of the most-highly compensated executives and employees at the seven firms he oversees. The move will further reshape pay at those firms and could complicate efforts by some of those seven companies to attract top executives and employees. The issue could be particularly acute for Bank of America, which is searching for a successor to Kenneth Lewis, who announced plans to resign as chief executive of the company last week. A Bank of America spokesman said the bank declined to comment on compensation issues regarding the chief executive. "We have been in close communication with Feinberg and our compensation going forward is very much in line with his guidance," the spokesman said. Pay Czar to Cut Staff's Cash Salaries Video WSJ video (1:47) http://online.wsj.com/article/SB125478783753066235.html#articleTabs%3Dvideo
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