Unfortunate that the author couldn't resist jumping on the old carousel and riding the old pony:

"There is arguably a creeping socialism in motion by proposing to place a cap on CEO salaries, and does it risk setting a future precedent targeting other salary earners, or even the maximum assets any one individual can own? The Australian Government therefore needs to be heedful in not rewinding the clock to pre-deregulation days and risk becoming an increasingly regulated “sickle and hammer” state."

A "creeping socialism" in motion? Is that like one of those Portuguese centipedes, searching for sex on the night-lit walls of Tasmanian homes?

Fortunately the author otherwise rises slightly above "creeping stupidity and "creeping credulousness", which can lead to an increasingly blinkered and feedbagged state of mind.

I wish I could say as much for bigmal, who evidently has convinced himself that, regarding ill-timed executive bonuses,

"Only the Americans would be so incompetent and stupid."

Myself, I expect it is not so much a matter of nationality as of policy and legal framework. Bigmal, wherever you live, you had better look closer to home. Watch Out! Stupidity and incompetence could be creeping, from nearby government and corporate offices, toward you. In fact, they may already have arrived, just like the Pod People.

A cap on SERF wages - creeping capitlism?

"Portuguese centipedes", "sex" and "the night-lit walls of Tasmanian homes?"

Now there's a group of words I never expected to see in the same sentence.

On topic:

As there are already caps on the wages on below exec-level workers, why is the suggestion of putting a cap on executive staff considered to be socialism of any speed?

I owe an apology to all about this Portuguese centipede business. It should have been millipede, not centipede. But I strongly encourage you to read through the primary source, in its entirety, in the Hobart Mockery; substituting substituting as you go, the word "socialist" for the word millipede. And see if you don't agree that the subtly vilifying portayal is worthy of Ayn Rand (at her best).

http://www.themercury.com.au/article/2009/03/16/61491_tasmania-news.html

"Dim lights for sexy posts"
ANNE MATHER

March 16, 2009 04:00am

THESE invaders are drawn by bright lights and sex.

Portuguese millipedes are on the march in huge numbers, invading homes around Tasmania. Experts say autumn is the breeding season and they are searching of a mate. They also have a penchant for light.

Pest controllers have noted a recent increase in people wanting to know about how to deal with the black invaders, but there are natural ways of dealing with them.

"Draw the curtains and use draught stoppers," said entomologist Cathy Young, senior curator of zoology at the Tasmanian Museum and Art Gallery."

and so on

Sir Vivor

My criticism of the bonuses is not so much as to their bad timing but the way they were contracted without being linked to KPI;s.

In short they were not bonuses at all but deferred salaries.

All of this done whilst the share holders were kept in the dark

If only Darwins Law worked in situations like this.

bigmal,

The law that applies here is,"survival of the fattest".Many corporate executives are essentially rentiers who use their positions to divert real profits from the shareholders or to produce illusory "profit" which rapidly evaporates.