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.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,830,626 times
Reputation: 6438
Advertisements
Bank of America said revealing the data could help rivals poach talent, prompt employees to leave because their privacy was violated, cause "internal dissension and consternation," increase security risks for bonus recipients, and give rivals a better idea of which businesses it considers most valuable.
Interesting. The company I work for has something similiar written into one of the "non-compete" forms we sign. Basically, if you tell anyone how much you make, and it's accurate and they report you, you can be terminated. Discussing how much you make tends to cause disruption. It can also cause envy or anger, I'd imagine. Perhaps both at the same time. It also gives away information to our competitors, who can make a better deal based on that information. Really, not a heck of lot different than contract bids.
I think all salary information should be available to all employees so each individual would understand their real value and relative position. This would let employees see what is actually valued instead of what is said to be valuable. It might make the managers reduce their internal manipulations such as bald faced lies and favoritism.
In any case the executive compensation must be available if a corporation is going to take a bailout, or even a contract, from the Federal government.
I wonder what would happen if everyone's Tax Return was posted on a public website. That might be really interesting.
Public disclosure of private information is NOT good for anyone. I don't want details of my finances made public.
BOA has offered to provide information to regulators with the provision that their employee data is not disclosed. It is certainly a reasonable stand and one I support.
Public disclosure of private information is NOT good for anyone. I don't want details of my finances made public.
BOA has offered to provide information to regulators with the provision that their employee data is not disclosed. It is certainly a reasonable stand and one I support.
But if the government "loaned" you billions of dollars of taxpayer money then they (the taxpayer) have a right to know where that money went. If it went to bonus money for CEO's then they should reveal it. If it did not then there is nothing to fear.
People are asking for an accounting of "taxpayer" money loaned to BofA.
I know the mentality. Ya know what? Their model didn't work. Their "talent" isn't talented. The ones who make big bucks and don't want competition are whinging. Tough. Get over it. Better yet, fire ALL of them making more than a teller and then make it a public HR listing of jobs and the pay, and those who want to apply can apply, full knowing that everyone will know their wages. Get rid of the deadwood.
Every business tries to get an upper hand through secrecy and diversion of attention. I've worked for companies that would purposely put up "NEW THEATRE COMING!" signs at locations they had no intention of developing. Why? To discourage competitors. What did that do? It kept some very good neighborhoods from ever having a shot at having a theatre, even though it would have been an economic home run.
Look, lying and secrecy was a large part of what got us into this mess. How on earth do you think that more of the same will get us out of it? This is an aspect of the competitive business model as we define it today that is flawed. Real competition depends on a level playing field. If all companies have to abide by the same set of rules, then the essence of capitalism can work. BAC is a FAILED company. C is a FAILED company. AIG is a FAILED company. WE, THE PUBLIC OWN THEM. Hasn't anyone been listening? As OWNERS of the companies, we have a right to know WTF is going on, so that the leeches, the sons-in-law of the execs, and so on can be FIRED. If businesses that survived get to vet and pick up a few good people from the slime pile, good.
These babies have less than zero sympathy from me. "Our business will be in jeopardy if you know what we make." HELLO!!! Your business already failed and we have been FORCED UNWILLINGLY into trying to rescue you, and now you want WHAT? Blow it out your corporate restroom.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,830,626 times
Reputation: 6438
Quote:
Originally Posted by harry chickpea
I know the mentality. Ya know what? Their model didn't work. Their "talent" isn't talented. The ones who make big bucks and don't want competition are whinging. Tough. Get over it. Better yet, fire ALL of them making more than a teller and then make it a public HR listing of jobs and the pay, and those who want to apply can apply, full knowing that everyone will know their wages. Get rid of the deadwood.
Every business tries to get an upper hand through secrecy and diversion of attention. I've worked for companies that would purposely put up "NEW THEATRE COMING!" signs at locations they had no intention of developing. Why? To discourage competitors. What did that do? It kept some very good neighborhoods from ever having a shot at having a theatre, even though it would have been an economic home run.
Look, lying and secrecy was a large part of what got us into this mess. How on earth do you think that more of the same will get us out of it? This is an aspect of the competitive business model as we define it today that is flawed. Real competition depends on a level playing field. If all companies have to abide by the same set of rules, then the essence of capitalism can work. BAC is a FAILED company. C is a FAILED company. AIG is a FAILED company. WE, THE PUBLIC OWN THEM. Hasn't anyone been listening? As OWNERS of the companies, we have a right to know WTF is going on, so that the leeches, the sons-in-law of the execs, and so on can be FIRED. If businesses that survived get to vet and pick up a few good people from the slime pile, good.
These babies have less than zero sympathy from me. "Our business will be in jeopardy if you know what we make." HELLO!!! Your business already failed and we have been FORCED UNWILLINGLY into trying to rescue you, and now you want WHAT? Blow it out your corporate restroom.
Hrmmm....that's an interesting (and terrifying) concept. Because it's not just ONE bank that is failing nor ONE economy. It's almost every economy.
Which means, no one has talent.....EVEN NOW. The talentless are in charge. I haven't heard about a mass changing of the guard.
But if the government "loaned" you billions of dollars of taxpayer money then they (the taxpayer) have a right to know where that money went. If it went to bonus money for CEO's then they should reveal it. If it did not then there is nothing to fear.
People are asking for an accounting of "taxpayer" money loaned to BofA.
A loan is a loan so unless specified in the contract you owe principal and interest but it does not give you the right to make any demands regarding the use of the funds. My home loan is from Fannie Mae so in effect it is from the US government and you still have no right to the details of my finances.
And I can guarantee there was not any clause giving the public the right to see the details of employee compensation by a company that BOA had no control of. The situation is regarding bonuses paid before BOA owned ML.
BOA has agreed to cooperate with regulators but is simply trying to protect the rights of the workers that are now their employees.
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.
