When is enough pay sufficient to guarantee 100% effort for the good of a company? $460K, $360K. I should think so, against a backdrop of shareholder divs in 2012, but none since, and a decline in profit from about $6.5 mil to $5.5mil. I quote from "Freefall" by J Stiglitz referring to bank execs and their bonuses, for which society pays:
"If paying executives by stock option is not outright forbidden, then banks that do so should be required to have more capital and pay higher deposit insurance rates. At the very minimum, there should be full disclosure of stock options – none of the fiction that executive compensation falls like manna from the heaven, without coming out of shareholders’ pockets."
I admit to being shocked at the latest announcement by OTC and am now considering departure, when a short time ago I was arguing for responsible growth and a delay to dividends. Perhaps the notion of 'trickle down' should be replaced with the notion 'upwards flow' since most books I read view trickle down as a fallacy, sadly at the expense of a more equitable world.
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