Hurray for Congress

Hurray for Congress!
They asked the auto industry to give them a plan before they bailed them out.
I can’t believe the executives flew to Washington in their corporate jets with out a plan. Guess we know why the auto industry is in trouble—short term thinking. (Not that I don’t sympathize with the workers – I worked for GM as a first job out of college and lots of good people work there).
Sadly, they are not alone. Somehow, American business has gone astray.
One problem is accountability at the top.
It’s sad to read how a CEO that performs badly can have a golden parachute that’s worth more than the combined annual salaries of the people he caused to be laid off.
And it goes deeper – greed and getting used to high profit expectations. (Remember who the shareholders are – they aren’t all in the US…) Maybe if everyone took a look at their businesses and took a little smaller piece of the pie for the long term good, we’d get out of the recession quicker. Right now, we are digging ourselves in deeper as businesses slash budgets even before sales lag.
It's like when gas prices go up on the world market, they immediately go up. When the cost per barrel goes down, there is a lag before the consumer sees it. Someone's grabbing a extra piece of the pie each way.

So, if your going to complain, you should have a suggestion. Here goes:

Tracy's Recommendations to the Board of Directors of companies everywhere:

Cut your workforce, cut your execs pay
Cheers to the CEO of Gannett that cut his own pay by 17% to boost morale. Others should follow his example.

There are lots of capable people that can run your company
Don’t put up with lackluster planning and failure to meet reasonable, agreed on objectives.(Don’t sign contracts with extravagant amounts for failure. If the candidate needs that, they must not be confident they can succeed.) Tie rewards to long term goals, not quarterly profits.

If you have to ask the government to bail you out, have execs take a government level salary
This should definitely apply to those banks in the Wall Street bail out -- that evidently needs more structure and supervision!

Enough ranting and raving for today!
5 more days 'till Thanksgiving.
59 more days till.... :)

Have a wonderful weekend.