There is little doubt that our corporate leaders have availed themselves with generous compensation programs,this mainly being options....
One rule that needs to be changed is in this area (options) and until options are considered earnings, the greed will continue....Not all CEOs are corrupt,but the system does allow for this behavior to take even the reasonably honest and stretch the corporate ethics to it's limits...
Now, as far as Mr. Pitt and a call for his resignation is just an attack against Bush and with his tenure in office, only 8 months, is hardly enough time in bureaucratic standards to feel anything out in the way of results.Before these corporate scandals,both parties enjoyed the monies given and little was done,even though much of what has been going on has a history of corporate wrong doing for at least 10-15 years..Lets not forget the previous SEC Chairman......Much in the way of this resulted not from anybody (politicians) looking the other way,but the boom of the 90's that resulted from new and innovative technologies that accounting methods haven't been brought up to standards that incorporated such fraudulent and devious behavior....
Democrats are surely trying to paint much of what has transpired in these scandals to Republicans and even though Republicans are supposedly from the corporate world as Democrats can easily explain to the extent of always pushing that slogan,"we are for the little guy"..Has little credibility in it's self...Only one needs to look at the millionaires and see that Democrats have more than the Republicans in the Senate and their average is considerably higher.Most recently,some Democrats have bought themselves seats in the Senate.
Republicans are no more culpable in corporate shenanigans this than Democrats and both need to adjust this as a non-political issue that is only the correct thing to do...Democrats held congress before 1996 and they didn't do much in the way of halting this at the pass..WCOM's failure is now again an issue for Democrats,and since they have blamed everything from the economy to 9/11, just goes to show that even Democrats don't have viable issue on the table that can set them apart...
Notice how Terry McAulif (head of the DNC) is suddenly silent...He knows when to keep his mouth shut,after all, his huge stock trades from GlobalCrossing hasn't even come to a real explanation and the head of this same company is a pal of Clinton's and spent much time in the Lincoln bedroom..
Most recently Martha Stewert,who I like, is a long time Democrat,so don't just feel it's Republicans that are to blame...Both parties have an interest in getting to the bottom of this...Republicans being painted with a corporate brush and the Democrats being painted with an attack brush and their only resolve is when the S$$T hits the fan is when they come out with the blame game...
Corporate donations to affiliating parties is a given in politics,each has their own little pet concerns.Democrats have there trial lawyers and Unions as well as the accounting firms,regardless where Mr Pitt came from....Yes,Republicans have all the nasty industries that made this country a great industrial nation and certainly could do more for the environment,but all this has now come at a cost....Take a look at the wildfires in the midwest,not all of that,or the extent of the loss was necessary and could have been avoided if only the enviromentist weren't so adament in putting up roadblocks in the courts and the Clinton Administration baring logging or thinning of these forests....
The Democrats have used the Keoto Agreement with Bush as his fault,for not honoring it.When this came up for a vote long before he got into office,almost all your leaders,Democrats and Republicans alike voted against this treaty.
One thing I will say about Democrats,right or wrong, they are loyal and very rarely go against their leaders and in most cases follow suit....Republicans on the other hand, at least express their conscious and are willing to go against their leaders or party when a situation arises,this is the healthy way to go....
Many investors have only a very short expansion time and once their 401K get back to more reasonable levels,but this may take sometime since losses are losses and never to be returned...There is a lesson to be learned here and no matter how big of a market cap a company has, the fallout can still be drastic and painfull as so many have experienced in this OTCBB land where it is even more unpredictable....
Just go back into time and see companies with huge market caps and generous share price lose their existance because of outmoded or bad business decisions....All American Wollen Company,Penn Central Railroad,Eastern Airlines and many more in their times were institutions and giants,but today's problems is from a lack of modern standards in accounting procedures and the need for more strict rules like jail time and certainly the monies from ill gotten gains be return...
Have a good day...
ET
One rule that needs to be changed is in this area (options) and until options are considered earnings, the greed will continue....Not all CEOs are corrupt,but the system does allow for this behavior to take even the reasonably honest and stretch the corporate ethics to it's limits...
Now, as far as Mr. Pitt and a call for his resignation is just an attack against Bush and with his tenure in office, only 8 months, is hardly enough time in bureaucratic standards to feel anything out in the way of results.Before these corporate scandals,both parties enjoyed the monies given and little was done,even though much of what has been going on has a history of corporate wrong doing for at least 10-15 years..Lets not forget the previous SEC Chairman......Much in the way of this resulted not from anybody (politicians) looking the other way,but the boom of the 90's that resulted from new and innovative technologies that accounting methods haven't been brought up to standards that incorporated such fraudulent and devious behavior....
Democrats are surely trying to paint much of what has transpired in these scandals to Republicans and even though Republicans are supposedly from the corporate world as Democrats can easily explain to the extent of always pushing that slogan,"we are for the little guy"..Has little credibility in it's self...Only one needs to look at the millionaires and see that Democrats have more than the Republicans in the Senate and their average is considerably higher.Most recently,some Democrats have bought themselves seats in the Senate.
Republicans are no more culpable in corporate shenanigans this than Democrats and both need to adjust this as a non-political issue that is only the correct thing to do...Democrats held congress before 1996 and they didn't do much in the way of halting this at the pass..WCOM's failure is now again an issue for Democrats,and since they have blamed everything from the economy to 9/11, just goes to show that even Democrats don't have viable issue on the table that can set them apart...
Notice how Terry McAulif (head of the DNC) is suddenly silent...He knows when to keep his mouth shut,after all, his huge stock trades from GlobalCrossing hasn't even come to a real explanation and the head of this same company is a pal of Clinton's and spent much time in the Lincoln bedroom..
Most recently Martha Stewert,who I like, is a long time Democrat,so don't just feel it's Republicans that are to blame...Both parties have an interest in getting to the bottom of this...Republicans being painted with a corporate brush and the Democrats being painted with an attack brush and their only resolve is when the S$$T hits the fan is when they come out with the blame game...
Corporate donations to affiliating parties is a given in politics,each has their own little pet concerns.Democrats have there trial lawyers and Unions as well as the accounting firms,regardless where Mr Pitt came from....Yes,Republicans have all the nasty industries that made this country a great industrial nation and certainly could do more for the environment,but all this has now come at a cost....Take a look at the wildfires in the midwest,not all of that,or the extent of the loss was necessary and could have been avoided if only the enviromentist weren't so adament in putting up roadblocks in the courts and the Clinton Administration baring logging or thinning of these forests....
The Democrats have used the Keoto Agreement with Bush as his fault,for not honoring it.When this came up for a vote long before he got into office,almost all your leaders,Democrats and Republicans alike voted against this treaty.
One thing I will say about Democrats,right or wrong, they are loyal and very rarely go against their leaders and in most cases follow suit....Republicans on the other hand, at least express their conscious and are willing to go against their leaders or party when a situation arises,this is the healthy way to go....
Many investors have only a very short expansion time and once their 401K get back to more reasonable levels,but this may take sometime since losses are losses and never to be returned...There is a lesson to be learned here and no matter how big of a market cap a company has, the fallout can still be drastic and painfull as so many have experienced in this OTCBB land where it is even more unpredictable....
Just go back into time and see companies with huge market caps and generous share price lose their existance because of outmoded or bad business decisions....All American Wollen Company,Penn Central Railroad,Eastern Airlines and many more in their times were institutions and giants,but today's problems is from a lack of modern standards in accounting procedures and the need for more strict rules like jail time and certainly the monies from ill gotten gains be return...
Have a good day...
ET
