Asked on CBS’ “Face the Nation” on Sunday about chief executives’ compensation, Trump called it a “total and complete joke.” Trump added there is nothing he can do to change it. “It does bug me,” he said.
Trump bugs me.
He made no differentiation between private firms and public firms, although at one point he did say, high salaries were often approved by corporate boards made up of a chief executive’s friends.
There is something that a president could actually do on this, which indicates a tiny sliver of Trump's major limited understanding of economics.
These crony boards exist because government has put into position laws that protect such boards and laws that have eliminated hostile takeovers.
Get rid of these evil laws, instigated by individuals at crony corporations, and the raiders will come in and cut fat wherever it needs to be cut. A president can be a key driver on the removal of the current evil legislation.
-RW
RW: Genuine question here. What laws are in place restricting hostile takeovers? I presume this is the Securities Acts of 1933 and 1934 and the Sherman Act, but am not certain. Also, what restrictions do these place on the hostile bidder?
ReplyDeleteWe would need to do a full review of the anti-private property laws on the books.
ReplyDeleteI second that question: What laws are in place restricting hostile takeovers?
ReplyDeleteI'm familiar with poison pills and "super voting" shares, etc. but I'm not familiar with any laws restricting hostile takeovers
RW - I get it. You don't like Trump. Who would you rather see that has any realistic chance?
ReplyDelete