| The USA sets a good example for other countries! | |
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| Feb 9, 2009 03:26 |   |
 | After Obama sets pay limits for the executives of American companies. EU and China adopt the same policy. China requires that the annual pay limits for those mangers of state owned corporations is 2,800,000 RMB. The EU Committee encourages its member countries to adopt similar measures. Some nations have already taken actions. Do you think it is a good idea to tackle the recession? |
| Feb 9, 2009 11:03 | #1 |
| JIMMYB.....sure it's a good idea to tackle the recession. The question is whether the actions taken are merely for {"glitz" or a "dog and pony show"} to satisfy the general public's short attention span or whether government's are really serious about tackling the problem. Obama's plan to limit executive salaries sounds good but a "Mack Truck" could be driven thru the legality( holes) of the plan. I.E. does it limit stock options also, retirement bonuses, etc. etc. Now, I have only heard about this on t.v. so can't say too much, but as per usual there are always "if, ands or buts" attached and not mentioned to the public. It's my understanding that 2009 is going to be tough for the U.S., not only for the devaluation of the $ but for other thing as well, which I won't mention. So, stay tuned , things are going to get interesting. By the way, are there any apartments for rent in China? Well O.K. maybe Ecuador, Margarita Isl. then. |
| Feb 9, 2009 19:48 | #2 |
| >>China requires that the annual pay limits for those mangers of state owned corporations is 2,800,000 RMB.<< That is for executive level officers of super-sized state owned corps and the remunerations based on corp performance, isn't it? And it doesn't mention if it includes any the value of retirement package, stock options which usually have more than 10 years term before being eligible for exercise if they are still in the position at exercise time. If they don't perform as well as expected in their term, they should step down, which mean retirment pacage and benefits of stock options is no way to be guranteed... BTW Gary, did you win lottery seeking somewhere to invest, like chinse real estate. It's estimated that the land value in shanghai will be a couple times as much as today in 10-20 yrs. I think in 3 yr, tour industry in china will be properous because of current stimulas plan in infrastructures and tele-communications covering the whole nation. |
Last edited by COOLSPRINGS: Feb 9, 2009 19:56 |
| Feb 9, 2009 21:27 | #3 |
| Er..Uh..No.. COOLSPRINGS, I didn't win the lottery. But, investing in China, no doubt, is a win situation. Especially as (or if) the average prosperity in China continues to rise. |
| Feb 9, 2009 21:49 | #4 |
| This issue was discussed earlier in China before the global economic downturn. Ma Mingzhe, chief executive officer of China Ping An Insurance Corporation earns more than 66,000,000 RMB per year. This triggered a heated discussion among the public. Many people thought that the government should set cap for those the annual income of those top executives. Now the public should be happy with this new policy. |
| Feb 21, 2009 18:16 | #5 |
| Yes, it is definitely a good idea. I would like to see the same steps being taken by Indian govt. |
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