New Haven Independent

Posted by: William Doriss | April 18, 2008 12:41 PM

Funnneee! I loved it. $3.92 million? Holy schmoley, I'll do that job for half price. For Real!

Posted by: Paul Wessel | April 18, 2008 5:58 PM

While it's great, Paul, that you exposed the secret of how you go up by going down in City Hall, you really oughta take the stairs. It's good cardio, saves electricity, and helps the elevators last longer. Maybe your next expose can be about the road less traveled in City Hall, like the out-of-the way-stairs from the 3rd floor up to 3R....

Posted by: Esteban | April 18, 2008 7:44 PM

I have to assume that corporate salaries are subject to the approval of the shareholders of publicly held companies. How did this get to be your business? Are you a shareholder?

Posted by: robn | April 19, 2008 8:44 AM

Esteban

WRONGO

Boards of Directors set CEO pay...those board members may be CEO's in other companies where their pay is set by the other CEO sitting on his or her board. Effectively you've got interlocking directorates (i.e. golfing buddies who set each other's pay). Its gotten so bad and so out of whack with the rest of the world that Congress is currently considering a "Say on Pay" law which would require boards to submit CEO pay to shareholders for review...unfortunately its non-binding.

btw...its PB's business because he's a reporter.

Posted by: yale10 | April 19, 2008 6:38 PM

Any information on the triple shooting?

Posted by: Chris Gray | April 20, 2008 2:55 AM

Thanks for the public information, Mr. Bass. Some of us citizens (such as my lame self) don't have the luxury of getting our cardio exercise through stair climbing, Mr. Wessel, and the tip may help keep us from being frustrated by the arcane systems in place at city hall.

It is also always interesting to learn more about how the rich and powerful reinforce the wealth and power of others of their ilk, something they rarely feel is anyone's business but theirs until they pull an Enron. (Funny, I never noticed before how that sounds like "end run".)

Posted by: cedarhillresident | April 20, 2008 10:42 AM

I got lost in the elevator maze myself. Go to 4 looking for a meeting..."no they are not here" ....hmmm a women reluctantly telling me about the secret 4R elevator trick and a secret stairway trick to get there....ohhh it was like a treasure hunt finding it....not to mention hoping Allen my Alder would figure it out.

Hey how do I get on the New Alliance Board... I can help me pay my Property Tax!!

Posted by: Esteban | April 20, 2008 11:03 AM

Robn,

If enough of a publicly held company's stockholders sold their shares because they believed the company to be unprofitable because of the CEO's high salary, then you would see that salary diminish...golf buddies or not.

Yes, some would say that Mr. Bass is a reporter (I would not) but I fail to see how anyone's salary is newsworthy unless of course we are taxed to pay it or there is something illegal involved.

And Chris, are you suggesting that any of the CEOs Mr. Bass mentioned have done something illegal?

Posted by: Bill Saunders | April 20, 2008 11:39 AM

Mr. Wessel,

Since the stairs are not ADA compliant, yes, Paul's info was a valuable piece of information.

Posted by: JayC | April 21, 2008 5:38 AM

Very interesting list of names. How about posting them all and the dollar amounts?

Go for it!

Expose these guys and gals for what they really are.....ROBBERBARONS!

Posted by: robn | April 21, 2008 1:20 PM

esteban,

Shareholders are owners of a company and they shouldn't be forced to flee the investment becuase of bad decisions by the board of directors.

Salaries of major officials at public companies are just that...public.

To your point of the legality of the high salaries and interlocking directorates .... legality doesn't neccesairly make it right.

Posted by: Chris Gray | April 21, 2008 8:03 PM

No particu1ar charges, I just like pubic information to be in the public's knowledge base so we don't get blindsided.

In other words, what Robn said.

Posted by: Esteban | April 21, 2008 9:47 PM

Robn:
Yes shareholders are owners of publicly held companies and of course they will flee their investment if the board of directors makes decisions resulting in the devaluation of their investment, for whatever reason... high CEO salaries or not.

One invests in order to make money, not to lose it. I would have thought that to be obvious. If shareholders reap financial benefit from their shares in a company why would the shareholders be concerned with the compensation of the executives?

Yes, of course salaries of major officials at public companies are public. Who said they're not?

If legality doesn't necessarily make it right, what is it that makes it wrong?

Posted by: robn | April 22, 2008 8:58 AM

esteban,

what makes it wrong is two things..

1) Even though they are the company owners, most shareholders currently have NO say in the CEO compensation.

2) Although American CEOs make many times what their counterparts make in Europe and Asia, the American business climate is currently considered to be a laughingstock, so theres a discrepancy between performance and compensation. This is not to say that NAB has, or doesn't have a bad business model, but their industry is broadly in a tailspin.

Posted by: Esteban | April 22, 2008 11:44 AM

1) Once again, shareholders have the most important say in all company matters. If they don't like what the stock does for them, whatever the CEO's compensation, they will dump the stock and if things get bad enough, they will cause the CEO to be dumped. It's an economic law. Shareholders have the LAST say in the CEO's compensation. SHAREHOLDERS SAY WITH THEIR WALLETS.

2) So what?

3) 'Fess up Robn. This isn't about fairness, it's about envy.

Posted by: robn | April 22, 2008 12:39 PM

esteban,

You just don't get it. Its about accountability.

Posted by: Chris Gray | April 23, 2008 3:16 AM

Don't worry. esteban acknowledged that it is public information, which negates his first point. Whether out of envy or a sense of justice, it is our business and the press and Bass, in particular, has every reason and right to share the information.