Tuesday, December 09, 2008

Car executive pay

Short post here:

Congress is now going to limit executive pay on car makers. I can see exactly how this will pan out. Congress will look for a social activist that is willing but not able to run a complex global corporation. The social activist will work for government alms and not work on incentive pay meaning he/she will just collect a government check. Labor unions will take the majority of the government infusion of money. In the meantime, automakers will continue to make cars that won't sell, laborers will continue to be paid more than they are worth, and tax payer money will be stolen to pay for this charade. The social activist will run the company into the ground over the next 5-10 years erasing all value that could have been left and will return to congress with pleas for more help saying that the original bailout was not big enough. The era of achievement is ending. Sad but true.

In liberty,
James Lien

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