Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
How many of you know in your heart that you are far more intelligent then that M>>&*#(&#*^ _______ fill in the blank CEO? I know, every one of you do.
Remember......that is YOUR money that is paying them. All those $39 late fees, $7 or more a month checking accounts, $5 for money orders, Junk fees up the kazoo for origionating mortages and other loans, 10% transfer fees, and the list goes on and on.
Today junk misc fees account for 40% of any banks gross revenue.
Now think about those poor tellers who make $8/hr with no bennies. No way on earth one can make it on that kind of salary in this age. I wonder of the CEOs know this?
The poor tellers have minimal education and will therefore get crappy jobs their whole life. BOA probably has 20k employees like this...so if the CEO makes 10mil and you gave it to them....it would be another 25cents an hour in their paycheck...$500 a year.
I fail to see why banks charging fees or *gasp* making a profit are bad.
Banking is HIGHLY competitive, it is not a lucrative industry with big mark-ups.
Don't like fees? Well then find someone that will do all that for free. Good luck.
It is hard to begrudge someone who simply accepts the salary given to them by a company or the board members. If someone offered me X amount of millions to do a job I wouldn't say "No" either.
However, in this particular situation, it would be the decent thing to do if these CEO's at least split some of this vast amount of money with the employees who won't get enough in workers comp to take care of their families. Historically though, greed wins over decency and I doubt this is going to happen.
Some of these guys were making between $70-80 million a YEAR! How would you even SPEND that much money?
The poor tellers have minimal education and will therefore get crappy jobs their whole life. BOA probably has 20k employees like this...so if the CEO makes 10mil and you gave it to them....it would be another 25cents an hour in their paycheck...$500 a year.
I fail to see why banks charging fees or *gasp* making a profit are bad.
Banking is HIGHLY competitive, it is not a lucrative industry with big mark-ups.
Don't like fees? Well then find someone that will do all that for free. Good luck.
Without the "bottom" employees, there will be no bank, no customer service. no high paying CEOs. Their tellers are their front line, ask any bank, any teller, without them the bank don't exist.
All those glorified CEO's are good old boys with drinking problmes and need all the millions to cover ther tabs. I know, i work with them.
Well, did it ever occur to you that he was hired with one directive in mind from the board of directors, namely to sell the company before it bankrupted?
If so, then the guy earned his paycheck.
Hey I am as free market/capitalist as a person can get, but it's out of hand. You hint at the problem - board of directors, it's inbreeding. That level of fortune 500 CEO/BOD is like a big nationwide country club. One hires the other. One CEO will be serving on the BOD of another company, who's CEO is on the BOD of the other. Those are the people that get hired as CEO's.
Negotiating a bankruptcy deal is done by a team of lawyers and financial analysts, not the CEO. A CEO's job is strategy, not tactics. His involvement would have been high level, at best.
I believe the board can go above the CEO on any decision with the right voting. I HIGHLY doubt Wamu needed to bring someone in for less than 2 weeks and at a cost of 13 or 17 million to sell it to the competition and bring down the economy even more!
What a lot of people don't seem to understand is that quite often, provisions for severance packages of several million dollars are written into the contract when the CEO is hired. If he is terminated prior to the fulfillment of the contract duration, the hiring company is legally obligated to pay that package.
What a lot of people don't seem to understand is that quite often, provisions for severance packages of several million dollars are written into the contract when the CEO is hired. If he is terminated prior to the fulfillment of the contract duration, the hiring company is legally obligated to pay that package.
Oh we understand it and that's exactly what we have an issue with. That's called a "golden parachute". It has nothing to do with pay for performance and everything to do with the good old boy network of board of directors and CEO's.
Without the "bottom" employees, there will be no bank, no customer service. no high paying CEOs. Their tellers are their front line, ask any bank, any teller, without them the bank don't exist.
All those glorified CEO's are good old boys with drinking problmes and need all the millions to cover ther tabs. I know, i work with them.
I think most people are opposed to out of hand CEO pay.
As for tellers, yep they are the front line work force.
Here is for the big laugh....banks are notoriously poor performers financially but according the earlier poster they just rip you off with fees. So, here I am wondering how exactly consumers would respond to the tellers making say...$16/hr with benefits?
Here is a clue, finish highschool (or beyond) or better yet get some training and experience and don't work jobs that pay not much more than minimum wage.
Drinking problems? Gee, don't watch any movies...those guys make millions just to stand in front of a camera lol.
Here's an interesting link about the CEOs pay. It shows both sides of the story. A part of me feels that CEOs pay are out of control (especially when they get a golden parachute and everyone else below them loses their shirt), but on the other hand they are providing jobs for the economy and are under an extreme amount of pressure.
I think most people are opposed to out of hand CEO pay.
As for tellers, yep they are the front line work force.
Here is for the big laugh....banks are notoriously poor performers financially but according the earlier poster they just rip you off with fees. So, here I am wondering how exactly consumers would respond to the tellers making say...$16/hr with benefits?
Here is a clue, finish highschool (or beyond) or better yet get some training and experience and don't work jobs that pay not much more than minimum wage.
Drinking problems? Gee, don't watch any movies...those guys make millions just to stand in front of a camera lol.
Interesting arguments, but, since high paying jobs are being outsourced everyday education level may make little difference. There are lots of highly educated tellers, and cashiers, and so forth all around here. The jobs simply aren't there. I know some who had high paying jobs, that were outsourced. There is quite a bit of discontent building up in this country against the corporations' executives, I wouldn't want to be one in the coming years.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
