Today's Outrage: Readers Riled by Citi, Apple
Today's Outrage is published weekdays at 9:30 a.m. EDT and is available as an RSS feed.
When it comes to outrage, Citigroup salaries and the health of Apple Co-Founder Steve Jobs stir up more emotion than just about anything else these days. From former Citigroup(C Quote) executives angry that corporate profitability no longer seems to factor into the bank's reward structure to doctors defending Jobs' right to privacy, readers had plenty to say this week. The lone opposing voice came from an Apple(AAPL Quote) shareholder who consider the health of Apple's visionary leader to be a material fact that should be publicly disclosed. No one defended Citi so far. Here's a sampling of reader outrage from this week:Citigroup Salaries
What I don't understand is that "bonuses" are a reward for exceptional work and performance, yet based on, among other things, Corporate profitability. This was the case under Reed and prior leadership, and has been royally screwed up since Traveler's management and now Pandit run the place. IT is a shame to take what otherwise should be incentive, and convert it into an expectation of regular pay and to increase the true cost to the Corporation and the Shareholder. If there ever was a reason to get rid of the current leadership, it is now. Let's bring back sanity.....get the old leadership back for one year to both shape the place and pick leaders to continue that are honest, ethical, and know what they are doing.So we are angry...but the beat goes on with business as usual because Washington only looks to the next election and staying in power. Rocking the boat by telling Citi "no, you can't" is beyond their ability, as is the message about NO MORE SPENDING until we get things back in balance and you have repaid TARP. But here's the thing...it takes one to do and one to let them do. And Washington is obviously letting Citi spend, spend, spend our tax dollars. How long before taxpayers revolt? I'd love to see that movement begin...and participate in it!! I'm frustrated and I know I'm not alone
I once thought that Citi Bank had exceptional managers. I still do - Exceptionally stupid and greedy! Instead of raising their pay like government officials do, let them buy back my 500 shares of stock I bought at $25.00. Then ask me to come to work as a manager. I promise I won't ask for any salary over $40,000 a year. I didn't graduate from Yale or Harvard but I know how to pay off my debts and taxes while keeping my small finanical situation healthy and growing.
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