Why top dogs in orgs are paid exit bonuses
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let me enact a small drama:
Before the economic crisis..........
Management: "i hear a economic crisis coming"...
CEO : " the crisis is going to come, we have to do something about it." lets restructure and perform cost cutting measures""
Management: " We will lose workers, and we will be down the drain. what shall we do?"
CEO: " According to my analysis, our capital and equity are going to dissappear if we maintain the wages of workers"
Management: " can we ride out the tide?"
CEO: "There is another alternative.....We have to save our assets and restart fresh. Hope u will be with me the next time we run a business *Hint*"
The following months, News appeared in the papers that CEO of XYZ company was paid millions in bonuses. After the recession is over the CEO comes out in the papers again , this time the news titles " CEO of XYZ has started ABC company with former management staff..."
Can u see now why Obama calls the bonus payouts shameful?
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well for Americans, they should go ask their own universities, most of the top notch peoples are graduated from Harvard or whatever top business Universities in America.
Did these Universities taught them to be greedy, shameful, no ethical, no compassion, no humanity etc etc??
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Originally posted by angel7030:
well for Americans, they should go ask their own universities, most of the top notch peoples are graduated from Harvard or whatever top business Universities in America.
Did these Universities taught them to be greedy, shameful, no ethical, no compassion, no humanity etc etc??
Ya, its the reason Australia emphasis on ethical behaviour.
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Originally posted by Worldlybusinessman:
Ya, its the reason Australia emphasis on ethical behaviour.
Commonwealth education should be better than the americans. same goes to singapore and british. -
Originally posted by angel7030:
Commonwealth education should be better than the americans. same goes to singapore and british.???????????????
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At least the top dogs are liable for the performance of their company.
As compared to the poodles here, they are given shameless salary with least amount of contributions.
Not forgeting they are also given pensions after they retired.
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and i thought every employee got exit bonus 1
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Originally posted by angel7030:
well for Americans, they should go ask their own universities, most of the top notch peoples are graduated from Harvard or whatever top business Universities in America.
Did these Universities taught them to be greedy, shameful, no ethical, no compassion, no humanity etc etc??
lee sian long is a very good example of a harvard
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Originally posted by Medicated Oil:
At least the top dogs are liable for the performance of their company.
As compared to the poodles here, they are given shameless salary with least amount of contributions.
Not forgeting they are also given pensions after they retired.
in what ways are the top dogs liale for the performance of their company?
They cooked up figures to show they made profit, so they get their bonus.
They retrenched thousands of poor workers in the name of cutting costs to achieve their targetted profit, and so they get their bonus.
Now they take the government handouts, paid by the poor taxpayers, and then use them to pay for their own bonus, siting legal contracts signed on their behalf.
Now we read the news that they even get handsome golden handshake even though their companies are going bankrupt.
and they have been paid big fat salaries and benefits all the time.
Contribution? Sameless?