Thursday, July 10, 2008

Career Change

Apparently I should have pursued a career as a Houston police officer! Check out this link. I wish I had both a high base salary and the opportunity to receive overtime wages. Anyway, I am not sure how I feel about the Houston newspaper that reported all of those people's incomes. On the one hand, those people are public servants and we (as taxpayers) pay their wages. On the other hand, I feel bad for those people due to the lack of privacy they are now experiencing. All I can say is that public officials are lucky that they do not have all of the disclosure requirements that corporate executives deal with every year. In fact, I watched a TV news story about the Houston story and it was reported that many of these police officers have union negotiated base and overtime wages. I find it interesting that many unions fight so hard to make sure that employees receive guaranteed wages and severance rights, and at the same time fight so hard to make sure executives cannot receive similar protections. Unions are institutional shareholders of many large corporations and are big proponents of "say on pay" proxy proposals. That is fine. I agree that a large portion of an executive's salary should be tied to company performance measures. It is in the best interests of everyone if that is the case. I just find it hypocritical that many union employees are not subject to the same performance standards. In fact, many union contracts do not require the same performance standards for their employee members. Therefore, an employer and the shareholders are penalized because they are not allowed to hold workers to the same level of accountability that unions and other institutional shareholders enforce against executives.

Oh well. Most of my fellow classmates and most of the public isn't sympathetic to what I am saying. I simply think that accountability for all individuals is a good thing, whether or not you are an executive or average worker.

3 comments:

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Katy said...

I said some of those same things in my A paper which was about exec. compensation and golden parachutes. I hope all is going well and you are enjoying your new job!

Katy

Dagny said...

Thanks Katy! You should shoot me an email if you are interested in getting in to this field. :)