Tuesday, March 5, 2013

Swiss Say No to Excessive Pay - Dumping S'pore Further Behind

After i've written Gotthard Base Tunnel - Reflects How S'pore Veers Off-course , Sillypore is being dumped further behind as our role model Switzerland progresses.

Cut Down Traffic, Congestion & Preserve Environment
Swiss Referendum:
64% of Swiss voted Yes to building the Gotthard Base tunnel.

Shaft down sinkies throats:
More congestion by greedy govt selling more vehicle ownership permits. Increased fuel consumption -> taxes. Increased pollution.

And yesterday the Swiss voted again on an important issue.

Curbing Excessive Salaries & Bye Bye to Golden Parachutes
Swiss Referendum:
  • curb executives' pay
  • ban golden parachutes
Shaft down sinkies throats:
Govt ministers are paid excessive salaries while delivering pathetic results.

Monkey see monkey do. Seeing the american CEOs being paid $M salaries, sillypore ministers also pay themselves $M salaries. Whole country is being turned into S'pore Inc.

We have seen from the 2008 financial crisis that CEOs of american companies like Lehman Brothers, General Motors, Ford, Citigroup etc have performed miserably. There's no justification for american CEOs to be vastly overpaid when their companies are losing out to their japanese & european rivals.

French CEOs don't have excessive salaries.
German CEOs don't have excessive salaries.
Japanese CEOs don't have excessive salaries.

Similarly there's no justification for sillypore ministers $M salaries when their performance are compared to other 1st world countries govt ministers.

We have seen:
  • US CEOs excessive salaries -----> badly run companies -----> financial crisis spread to rest of world
  • Sinkie Ministers excessive salaries ---> badly run sillypore ---> financial hardship for peons in sillypore

You can see from the above graph that in 1980 the average US CEO pay is 42x of average worker. Whole mess started when Ronald Reagan was voted into office in 1981 by daft americans who got conned by the actor's sweet talk which is why i consider Jimmy Carter Is the Last Great Modern American President.

More is not necessarily better.

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