Disparity Harry loves cannot survive de-leveraging.I sought him, but I could not find him;
I called him, but he gave me no answer.
—Song of Solomon
* * * * *
The question Mark Haines raises with Harry Binswanger from the Ayn Rand Institute, inquiring about CEO compensation disparities comparing Toyota with GM and Ford, reveals a confused man nostalgic for his buddy Greenspan's infinite multiplier...
Absent power to perpetually leverage a finite physical asset base — a power that died with the securitization market — pressure on executive pay can only mount. The former means of feeding illusions about sound business practices no longer can be masked with even bigger illusions and promises of crumbs for everyone. Issues taken with executive excesses and poor job performance are certain to become a shareholder feeding frenzy. Mr. Binswanger appears on course to becoming one very unhappy dinosaur.
—Tom Chechatka
0 comments:
Post a Comment