Ethics in Income Act

a few years ago we had news tales approximately a person occupying a chair at a chief brokerage company for 6 months even as ” the board” searched for a fulltime candidate. after attending most effective a handful of meetings, this character pulled the ripcord on a $360 million greenback golden parachute. useless to say, the blue and white collar employees who had retirement debts keeping mutual price range controlled through said brokerage company had been right now crying foul. the brokerage company dismissed the court cases of little men and the inquiries made via government officials. they knew higher than such little minds. of path, after the recession that garter institution built, that brokerage firm would not exist anymore. a lot for understanding higher.

i had a extraordinary weblog website online again then, and exclusive computer systems. come what may throughout all the migration my “ethics in earnings act” were given lost. there have been many references to it in other weblog posts, however i just could not find a reproduction of it anywhere. sorry for the repetition, however it’s miles beginning to sound like this act wishes to be surpassed now greater than ever.

a lot of you will seek advice from this as “the a hundred fold rule” on the grounds that executives and individuals of the board of administrators cannot be paid directly or in a roundabout way more than 100 instances the quantity paid the bottom worker or contracted employee. the act only impacts publicly traded corporations and no matter all of the gnashing of teeth and rending of garments approximately having to pay for higher control, this act certainly does look out for shareholder interest.

what is interesting is that during the 60s and 70s the ratio by no means were given to be extra than seventy eight times minimum salary and, talking as a person who lived thru that era, we were all quite well off employment and salary smart. (sure, you need to bypass over the viet nam and korean wars as they’re separate discussions.) as recent as 2005 the ratio became over 820 instances that of minimal salary. i think i can talk for maximum people when I say 2005 wasn’t anywhere close to as desirable a time as the 60s and 70s for the common running stiff. we had a massive rush to offshore everything besides the board of administrators and govt management so both of these organizations may want to make more money. medical health insurance changed into priced out of reach for the general public, and a backside feeding 4-door circle of relatives sedan became priced in the mid $20k variety whilst a totally loaded 4-door circle of relatives sedan become $4-6k all through the 60s and 70s. before the ones of you too younger to do not forget this please read the following:

in its may additionally 1971 problem motor fashion magazine published a contrast road test that protected a caprice coupe and a cadillac sedan de ville. the tested caprice was powered by way of the 454 v8 and loaded with definitely all available options to provide a greater equal test of the 2 automobiles and healthy the extent of gadget and opulence of the cadillac. although m/t mentioned that the cadillac had a higher stage of best than the chevrolet along with a miles extra costly interior (the deville changed into upholstered in leather whilst the caprice had the usual fabric trim), the mag in the long run taken into consideration the chevy as the higher fee in its loaded shape at $five,550.35 (base fee $3,740) as compared to the cadillac’s $9,081 fee especially due to the price spread of the two motors as examined and the truth that the $three,500 rate distinction offered handiest a chunk extra high-quality and a few more trick luxurious options.

yes, the executives have a d

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