Executives Career Guide and Counseling

Question: What can be done to prevent executives from taking advantage when there is an opportunity to enrich themselves What can be done to prevent executives from taking advantage when there is an opportunity to enrich themselves at their employers' expense?

Answer: Executives who do what you are accusing them of are stealing from the business owners (or in the case of a corporation the shareholders). This is a criminal offense. It is a fiduciary responsibility of the managers of the business (and in a corporation, also the Board of Directors) to protect the owners from being ripped off. If you are not a manager or director of the business, you can and should report the bad behavior to the managers or directors. But you should be aware that (1) that may be a risky thing for you to do, and (2) you may not know all the relevant facts in each situation. Talk to someone at your place of business whom you can trust about this before you do something that can hurt yourself or an innocent person.

Question: Will the Auto Executives use the bailout money for a Luxury vacation? AIG executives went on a luxury vacation after they secured their bailout. After the Auto executives twist Obama's hand and con congress into giving them money how long will it take for them to go on a luxury vacation? Which luxury resort will they go to?

Answer: They don't have the "bailout" money yet. If they get it they had better not try it while Democrats have the White House and Congress.

Question: How and where can we find Indian senior executives' profiles with contact info on Internet ? We are aggresively and disparately looking for exclusively that kind of senior management executives for our company Tvc Skyshop in Mumbai, who have proved their skills & expertise and made multiple growth to their present company. So, how and where can we reach to such info to contact them by phone or email ?

Answer: Look at http://www.linkedin.com for senior executives in all countries or try a headhunter agency.

Question: What are some of the top websites for retired executives to find consulting work? What are some of the top websites for retired executives to find consulting work? Please dont mention elance.com or other freelance websites. Im looking for specific websites for retired executives to find executive level projects. Thank you so much!

Answer: It might not be exactly what you are looking for, but www.assob.com.au will soon be launching a site called Executive Equity which will showcase unlisted public companies that are looking for retired executives to take director positions. Might be of interest to you? Keep an eye on the ASSOB site (Australian Small Scale Offerings Board) for further details as I believe it is only a few months away.

Question: Why is a Congressman calling for executives who get bonuses to commit suicide and not for Congressmen to? What with Barney Frank causing this crisis by prohibiting supervision of Fannie Mae executives like Gorelick and Franklin Raines, shouldn't he be the one to fall on his sword when that's costed us trillions, not millions?

Answer: yes, Barney wants to find the criminals responsible for the credit in housing disaster, and he can find one by looking in the mirror. He protected the managers at Freddy and Fanny and now they work for Obama. He ran a prostitution ring out of his town house and was never charged or censured, and the congressman who suggested he be censured was reviled for being homophobic. It seems Barney's sexual persuasion protects him from any criticism.

Question: What can or should be done to corrupt corporate executives that ravage investors to stuff their fat faces? What can or should be done to corrupt corporate executives that ravage their investors, without thinking twice about the people's lives they ruin, to stuff their fat and greedy faces with money that they don't need? What can or should be done to the equally corrupt politicians that take the bribes and pay-offs from these repugnant executives and then offer protection, power, and the ability to shape our country more than any civilian ever could?

Answer: Personally, I think their children should be dragged out into the street and receive one flog for each million the fat cat stole. It'll never happen, and sure its "unfair", but I can't think of a better incentive to play it straight and narrow.

Question: Managers/Executives: What books have really helped you solve a problem at your organization? Managers and Executives: Are there any audio or print books that have REALLY helped you solve a problem at your organization? If so, which ones and why? Thanks!

Answer: "Creating a Lean Culture" by David Mann was pretty good. We all read it and it's helped us eliminate a lot of wasted time and money across several departments.

Question: How do we explain the high levels of compensation received by many corporate executives? How do we explain the high levels of compensation received by many corporate executives? What factors affect executive compensation?

Answer: They are clearly not worth what the stockholders have paid them in recent years. The automotive and banking executives should be in jail at this point. There is no justice in any compensation at those levels. The boards of directors are worthless sell outs. A philosopher and entrepreneur by the name of E. F. Schumacher suggested that the top executive should receive no more than 10 times the compensation paid to the lowest wage earner in the company. Some companies, like Whole Foods, do live up to a ratio of compensation to the executives. My bet is that those executives are just as capable as the million dollar dullards. The median real income in the US has declined over the past 30 years. Over the past 8 years, the top 2% of income earners have on average doubled their incomes. Where is the justice? NAFTA and repressive labor organization laws have destroyed the middle class in America. The media just spins the story to make it sound like its the labor union's fault. What about the role of inept executive leadership and the open borders created by NAFTA? That's where the American dream has gone. Thanks to all the Democrats and Republicans who sold out to corporate contributors. Thanks Obama. I hope you can hear my sarcasm.

Question: What are the salaries of CVS Caremark Corporation's executives? I need to know the salary of any CVS Caremark Corporation executive other than Thomas Ryan and the salaries of any two executives from Kirby Corporation and Kellogg Company each. I have asked other questions relating to this, and I can never find anything. When I found one salary, it was pure luck. Whenever I research, I get the article that was written to announce that executive's appointment to the position, over and over and over again, in different fonts, on different web sites. What are their salaries, or how can I find them?

Answer: http://finance.yahoo.com/q/pr?s=CVS http://finance.yahoo.com/q/pr?s=K http://finance.yahoo.com/q/pr?s=KEX Scroll down to the "Key Executives" section for each company. The pay listed is salary, bonuses, etc.

Question: Where can I find updated or accurate contact info of company executives? I am a marketer..How can I find contact details of executives of companies? I am tiered of dealing with inaccurate contact info.Any help will be appreciated.

Answer: I found that jigsaw is pretty good. I'm also look at a company called Cortera (www.cortera.com) They have a free database at http://start.cortera.com and also offer paid products that appear to have executives.

Question: What is a competitive pay rate for a technical support person dedicated to the company's executives? I am considering a position as the technical analyst dedicated to the executive group at a financial corporation in Minneapolis. I would provide desktop and Blackberry support for about 80 people including the CEO, CFO and other high-level executives. I am wondering what people’s thoughts are on fair compensation for this position. And, if there is anyone else in a similar role that would be willing to share their approximate compensation. A couple other details - The company is in the Mortgage business and has around 20,000 employees. Also, it would not be a direct employment with the company. A large national IT firm has a contract with them to be the in-house desktop support. The company I would be employed with pays well, 50K plus for other (non-executive) desktop support positions. New details- The position is paying 22.45/hour. 8-5 Mondy-Friday, no after hours on-call. One week paid vacation and 6 paid holidays. Having about four years of experience in technical support this compensation is far below what I believe to be market. I am looking for another job.

Answer: The median salary range for a technical support person with at least 5 years of experience in Minneapolis area is about $61k - $83k per year. Whether your salary will be at a premium or discount of this range will depends among many criteria the length of your industry experience, is it a 8/9 to 5 kind of job or does it requires after normal business hour support, how well is the business doing etc. Keep in mind that immediate monetary reward isn't the only compensation that company consider when hiring you. Also take into consideration things like benefits (insurance, 401k matching, dependent care, training/education reimbursement etc.) Use the range suggested as a guideline. Then based on what you know about your potential offering package and the company, do appropriate adjustments. Best wishes.

Question: Can company executives fly on commercial planes? Not all that long ago, people were all up in arms that some car company executives flew in private luxury jets to go beg for money in front of congress. (You know who I'm talking about). Now, while it would have been more humble for these folks to drive the short distance, isn't it illegal for them to fly commercially? I heard that certain top execs are considered indispensable, and therefore are under contract that forbids them to fly on a commercial plane because private jets are thought to be safer. Is this true?

Answer: It is true. Although it is not illegal for them to fly commercially, it is done for safety reasons. I don't necessarily agree with that, but I believe that is how we got in this financial mess in the first place... CORPORATE GREED.

Question: How many AIG executives went on the retreat? I have to make a yellow journalism newspaper for my social studies class and I would like to include how many executives racked up the 440,000 dollar bill. I've searched around but I can't seem to find anything on it.

Answer: I sent AIG a scathing email when the story broke and received this response: We received your email about an issue that was raised in a U.S. Congressional hearing held on October 7th. In the hearing, a business event held by an AIG subsidiary was mischaracterized as an "Executive Retreat". The story was reported widely in the press. The story isn't accurate. The event in question was held by AIG's U.S. life insurance subsidiary for independent life insurance agents-not for AIG employees-who were the top sales producers for the company. The vast majority of the 100 attendees were independent business people and their guests, not AIG employees. In fact, only 10 of the attendees were AIG employees who were there to represent their company. Not one corporate executive from AIG headquarters attended. We understand that our company is now facing very different challenges, and that we owe our employees and the American public new standards and approaches. We are reevaluating the costs of all aspects of our operation in light of the new circumstances in which we are operating. AIG is focused on doing what is necessary to repay the Fed loan and emerge as a healthy insurer. Meanwhile, our businesses are strong and well-capitalized, and continue to serve the needs of our policyholders. A letter from AIG Chairman and CEO Edward M. Liddy to U.S. Treasury Secretary Henry M. Paulson about the issue is attached for your reference. Thank you. end quote There are two sides to every story, and I dont know what or how much to believe. While I feel AIG's actions were not appropriate at this time, it perhaps wasn't as bad as what was reported in the media, who were either sloppy in their research or deliberately chose to phrase things in a manner to make the story more newsworthy.

Question: How can GM executives expect public sentiment when they fly to bailout hearing in private jets? ? I know this is normal for top execs to fly everywhere in executive jets. But, this just shows a lack of common sense on the executives part. Take the jet anywhere- just not to a hearing where your begging for 50 billion dollars of Americans money. Without common sense, how can you expect these executives to be capable of running such a company. This just wasn't smart. Plain and simple. If you want public sentiment, fly Southwest then stay at a Hampton Inn. Leak the story to the media, and you would get public sentiment and your 50b. Give the public something to work with. Everyone knows you don't meet the IRS wearing your good jewelry. C'mon guys- common sense.

Answer: Though I agree this was bad move on their part. The workers should be the concern. The states that have been in a recession long before the rest of us took notice should be the concern.

Question: What should the government do to get the bonuses paid to Merrill executives with taxpayer funds back? http://ca.news.yahoo.com/s/reuters/090211/us/politics_us_merrilllynch_cuomo Should the government reopen Alcatraz to house these executives for the next 20 years for embezzlement? Richard, the taxpayer did not contract to pay the bonuses. The company that made the contracts was insolvent and would likely have to honor obligations to other creditors ahead of the executives. There would have been no funds left for the executives. The directors failed in their fiduciary responsibility and could be personally liable.

Answer: The US Constitution specifically forbids the government from interfering with contracts between individual parties. The employees in question had employment contracts that said "If you do 'X' you will earn '$Y' in bonuses." That was Merrils contractual obligation to pay. the government had no authority to retroactively change the terms of an employment contract. The employees did their jobs within the framwork that the Democrats put in place. That the framework itself was a house of cards was something that everyone knew - but it benefitted the Democratic Party so much that it was untouchable. EDIT to additional details... "Richard, the taxpayer did not contract to pay the bonuses." No, the employer did. The government has no legal authority to to interfere with those contracts. "The company that made the contracts was insolvent..." No, the government made the decision to keep the company OUT of insolvency. That's what the bailout was for. The company remained in businesss, and therefore remained bound to its contracts. "...and would likely have to honor obligations to other creditors ahead of the executives." Again, who stands where in line to get paid only applies if the company goes into insolvency - files for bankruptcy or winds up. If they HAD gone insolvent, though, employee paychecks (which include bonuses) are VERY close to the top of the line. Only taxes are invariably ahead of the employees. "There would have been no funds left for the executives." Untrue. Merril had billions in assets - they just had more in debts. The employees would have gotten their pay ahead of depositors getting their money out. "The directors failed in their fiduciary responsibility and could be personally liable" Whether the Directors could be sued for breach of fiduciary responsibility for the way they set up the pay structures in the first place is a whole different question. Even if they were negligent in doing so, that STILL doesn't stop the employees getting paid the wages they earned - including bonuses. Richard

Question: Why do some people think AIG executives should get their bonuses? I've noticed a bunch of Cons on here think that AIG execs should still get their bonuses. A bonus is paid if the executives perform well and the company itself is doing well. It's kind of like a reward. Why should the execs be given a bonus when the company is getting ready to tank?

Answer: And no one saw this comming? Greed is written all over our financial melt-down. And those bonuses were not earned... retention? top/brightest financial minds? that would be a matter of perspective. they dont need to be retained, they need to be fired if not imprisoned. or loose their credentials because theie practices are clearly and grossly unethical. Let's see what matters most, that bonus check or their reputation. Give them the "option" to get that bonus... Make them come one by one on stage...called by name.... with a nation-wide live broadcast-also among live audience... to accept the check. Let them give an acceptance speech... let's see if they are willing to stand before us justified. They want to talk about what they are "contractually entitled to"... but what about accountability and professional integrity regarding their actions? If they deserve a bouns, then we deserve restitution for their negligence. Those issues need to be addressed as well. And I hope they are. What I dont want to happen is for America to get distracted and not pay attention to the OTHER major banks doing the same thing while eyes arent on them. AIG does not stand alone. Each bank that received federal money needs to provide the same data in the same time frame to show who (if any) exec's are receiving money, what their job titles are and then what their performances were. Last, I dont think the govt should can the contracts per-se and open the door to being sued, because there are pleanty of greedy lawyers just waiting to get a piece of that.... I do however believe that our govt (who was ASKED to become involved) works to follow through and produce new laws to be put in place to off set this error in judgment and get that money out of corrupt hands. and BTW If AIG (or any other company for that matter )doesnt want our govt hands in their business, they should not have come knocking at our door and asking for our taxpayer money.