Executive Compensation in America

Stayed up late and watched CSPAN. They were talking about correcting the course of executive compensation as it applies to large American corporations that directly effect our economy by their very existence. Currently, we compensate our executives in this country with guaranteed bonuses tied to past performance or nothing in many cases. CSPAN said the American Executive Compensation system is a mess and encourages the prevalent atmosphere of greed and fraud to flourish. Our large corporations (and of course this is a generalization) reward that kind of focus on greed and short term profits for the top execs only, fertilize it, incentivize it, and so mass produce a system of inappropriate syphoning of dollars to the few to the detriment of the many.

Can't we encourage or legislate our corporations of a certain size to base their executive compensation on a calculation made up of the following:

employee happiness levels,
a company sustainability rating,
profits,
stock holder earnings and
customer satisfaction?

Can we at least do that with their bonus schedules? Then we would be compensating these executives based on a future business model that would be good for everyone.

Just a thought...Glad to be back, although DC is getting coooooooold for a girl from Maui.

Second Thoughts on the Auto Industry

Our Auto Industry, in all reality, is the true child of America's Democratic Capitalistic (in a good way) Industrial Revolution, This is not a happy child. This child has been abused and molested and encouraged to follow the wrong path.

We would put a real child in foster care and try to heal them. But there are those who would recommend throwing away the decrepit buildings and facturies along with the CEOs and employees all in one.

Our American Auto Industry, as opposed to our banking industry, is more than an industry, it is the embodiment of American ingenuity and spirit of accomplishment. Putting men and women on those lines working on those cars used to be a proud profession. If any money, unlike that in the banking industry, was to be given to the auto industry, or "loaned" to them, it could be done in that spirit of growth and gleaming leadership in the world.

I don't have the exact answers, but an incentive program would not be difficult to achieve and I'm not so sure we can depend, or should depend, on the current leaders of that industry to come up with that plan. If I went to a bank for a loan, well, if I went to what we used to think was a bank for say a small business loan, I'm pretty sure the bank wouldn't let me dictate the terms of that loan. Why do we want the auto industry to come up with the terms of this loan?. We do it. We ask our government to form it and insist on investement specifically in updates and factury repair while the development departments are working on the new designs. We start now, on an unprecidented edict for innovation and change. We reinvent the industry and don't stop until we are considered the best in the world, again. We spend our money where we need it spent, out of a responsibility to family and a commitment to communities, and save our working families supporting that industry.

Save the auto workers, save the world.

Red, White, & Boo: We thought Freddy Kruger was scary, but he didn't have jack on Freddie Mac!

This is what we can find on Freddie Mac's website. It speaks for itself, but let me get my eagle on and break it down for you...

Freddie Mac's Actual Website
Currently, on Freddie Mac's corporate website, please find their

NEWS & INFORMATION PAGE

Here they present a report on why people who can't afford homes should be put in them and supported with voucher and assistance programs. This was created BEFORE any of this talk about bailing them out!! See this mission statement below, present by Rick Davis.

Its purpose:

Homeownership has been a cornerstone of the country’s economic strength throughout the past decade. “State and local governments nationwide must expand their efforts to ensure that every family in America has the opportunity to own a home,” said Davis. “The more Americans we have owning homes, the stronger our economy and the greater the benefit.”

Report From Homeownership Alliance (HA) President Rick Davis.
(and here it is...)

HA Highlights Best Practices for Increasing Housing Affordability
A report released by The HA, a coalition of almost 20 organizations of which Freddie Mac is a charter member. The report identifies existing practices for increasing homeownership opportunities. “We hope this report will spark a much-needed dialogue on affordable housing programs.” said HA President Rick Davis. The best practices in the study fall into five categories and represent both demand-side efforts (e.g. homeownership tax credits, housing cost assistance programs and voucher assistance programs) and supply-side efforts (e.g. agency development initiatives and developer incentives).

Types of practices included:

Homeownership Tax Credits: Homeownership tax credits have helped tens of thousands of families become first-time homeowners.
Housing Cost Assistance Programs: Housing agencies in cities across the country, including Baltimore; Seattle; Riverside, Calif.; Phoenix; New York and Washington, provide funds for participants to use toward the costs of owning a home – i.e. down payments, closing costs and mortgage payments.

Voucher Assistance Programs: In recent years, locations including Pittsburgh and Philadelphia, have begun making federally funded Section 8 vouchers applicable to mortgage payments. With more than half of its residents living in Section 8 housing throughout the city, HACP has implemented a program allowing public housing residents and Section 8 renters to use their HA Payments toward monthly mortgage payments and expenses.

Agency Development Initiatives: In cities including Minneapolis, Minn.; Riverside, Calif.; Atlanta and Philadelphia, agencies are investing directly in increasing the supply of local affordable housing by rezoning or annexing land specifically for the purpose of affordable housing development, investing in the development of affordable housing or funding the rehabilitation of existing unoccupied housing properties. To date, the Philadelphia HA has invested in building four major developments located in communities close to schools, stores and parks and are affordable to eligible families, with mortgage rates as low as $700.

Developer Incentives: Chicago, Atlanta and Phoenix increased the supply of affordable housing. In the last two years, Chicago has created 466 affordable units because residential developers receiving discounted city land or using city financial assistance must set units aside for affordable housing. The program will help the city create 700 affordable units in the next three years.

And in closing, he ads...

Homeownership has been a cornerstone of the country’s economic strength throughout the past decade. “State and local governments nationwide must expand their efforts to ensure that every family in America has the opportunity to own a home,” said Davis. “The more Americans we have owning homes, the stronger our economy and the greater the benefit.”

Deep Breath. I'm trying not to yell. So, who's fault is this again? And why is Rick Davis still McCain's campaign manager? And lastly, and this one just spins me around, how is it that McCain is gonna 'clean up' Freddie Mac?

Feeling Impailed

You Can Lead A Candidate To Oxford, But You Can't Make Him Think

A TALE OF TWO CITIES -- McCain called Letterman. "Can't make it 'ol Buddy, gotta save the world and gotta race back to D.C. to do it."

"No Problem." says Letterman, as disappointment and surprise began to wash over him. How bad must things actually be for the war hero to cancel? Wow.

Only McBeth didn't run back to Washington. He was at the same network's studio, shooting an interview with Katey Couric AT THAT EXACT MOMENT, and would be staying in NY for an additional 22 hours before he went anywhere near a plane! Dave, run that clip, will ya?

http://uk.youtube.com/watch?v=XjkCrfylq-E

Spoiler Alert: I'm about to get metaphorical on his ass.

While the entire community was working hard to clean up spilled oil that had washed up on their local beaches, the owner of the faulty tanker, U.S.S. McCain, flew into town and drew a line in the dark and sticky sand.

Really? Johnny don't like the deal? You stopped everything you were doing to fly into town and say 6 sentences, sit down and not, in any way, be part of the solution???
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See Barack's address to the press about why the deal for economic stimulus stalled:

http://www.msnbc.msn.com/id/21134540/vp/26893995#26893995
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To be honest, now I'm getting angry....

Hey, John!!! Why don't you get some gloves out and start scrubbing those birds leaking black stuff all around you???

We'll even allow you to make ONE constructive comment. Do you HAVE any constructive suggestions? Every major news outlet calls your parachuting into Washington D.C., an incredibly destructive, distracting, divisive, and dumb thing to do. People, please believe me when I tell you that he actually said, he being the Republican nominee for President formerly known as John, did not read the three (3) page proposal as put forth by Hank Paulson !!!!!!! he didn't even read it. (heavy sigh)

See for yourself: http://www.msnbc.msn.com/id/3036677/#26894431

I'm going to sleep.

Cramming For The Test -- McCain wants to cancel debates

Wow. McCain is short, yes, but today he stooped to a new low. He claims he doesn't want to debate Barack because of the economy. And if Mr. O says no, and wants the debates to go on as planned, then the Republicans set up Barack to appear in front of the American public and the world as someone who doesn't care enough about the economy to halt the debates. Seriously. Wow.

As Barack's campaign so easily pointed out today, perhaps McCain is not ready to walk and chew gum at the same time. A President needs to multitask. McCain needs to take a nap.

Let's lay out how much Barack Obama actually is concerned, and has continuously been ringing the church bell in alarm, about our economy:

1. Obama's Year Old Letter to Bernanke and Paulson Regarding Housing Crisis March 22, 2007

2. Obama Calls for Modernizing Our Regulation of Financial Markets (video) March 27, 2008

3. Obama's Speech to Nasdaq (video) September 17, 2007

4. Message To The Nation (9/18 - video)

5. Obama Economic Press Conference July 28, 2008 (video)

6. Barack Obama's actual plan for the economy posted online
Use link or see the following for some key elements of Barack's plan:

-A $1,000 emergency energy rebate to help families with high fuel costs right now while putting $50 billion into job creation to get our economy back on track.

-Families making less than $250,000 a year will get a tax cut three times larger than under John McCain's plan and will face absolutely no tax increases.

-While John McCain has voted against raising the minimum wage 19 times, Barack would raise the minimum wage and set it to rise automatically with inflation.

-Invest $15 billion a year in green energy research to reduce our economy's dependence on foreign oil and create 5 million American jobs a year.

7. Barack's Blueprint For Change (video)
Emergency Economic Plan in detail as released on 9/21

So much for the incredibly stupid, ruthless, and inaccurate claim that Mr. O has no plan and is MIA on the issue.
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Two days before Senator McCain outlined his "specific plan," Barack Obama laid out a 6 point detailed plan on how we needed to reestablish oversight in the financial market. It followed on 6 months of him putting forward further detailed ideas and talking with experts like Warren Buffet, et al.

Check out McCain's website for his "detailed plan." http://www.johnmccain.com/Images/Issues/JobsforAmerica/briefing.pdf

McCain's only record, unbelievably horrible as it is, can be seen as follows:

1. ABC News 'This Week" Panel discusses McCain's comments over the last few days.

2. Video answer to foreclosure problems leading to bank closings

3. Talking Points Memo (TPM) video with Russert interview

4. Hardball (video)Shows 22 Times!!: McCain Has Said Fundamentals of Economy Are Strong

5. CNBC (video)McCain claims Commerce Committee oversees entire economy, and he was the Chairman.

6. Oversight experience gives him unique opinion (video)

7. MSNBC: McCain-onomics

Now. you really have some homework. Check out these links, learn for yourself. Its all there. Do what you need to do, write to the media, write to your friends, carry McCain in on a stretcher. Just get 'er done and get him to that debate!

BTW, my favorite part of McCain's economy video (which is really just clips of his speeches), is that he plans to balance the budget by 2013. Promises. Hmmmm....maybe I'm just not good at math, but, um, 2013 would fall after this next Presidential term in office. He is promising something that wouldn't happen until AFTER the next four years. So he couldn't really be held to it, God Forbid, if he made it to the Oval Office.

OK, I promise to initiate peace all over the entire world by 2100. So there!

Section 8. Section 8?!?!?!

Does it totally go over everyone's heads that the incredibly insane idea of giving Paulson a get out of jail free card with which he could in no way be held responsible for his actions, would be called "Section 8?"

Section 8 (military), a kind of discharge from the United States military due to mental illness and/or problems ...

ALSO

Section 8 (bailout) is the part of the bailout plan put forth by the Bush Administration stating that in regards to oversight and review, "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."