Shyamsunder Panchavati

Shyamsunder Panchavati
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Tuesday, February 17, 2009

Pres. Obama. Rebuilding trust ,Capping Salaries boon or boomerang

President Obama's arguement looks quite convincing superficially. But on intense analysis it looks a bit arbitrary.The top executives will not mind the cuts so much as the way they have been suggested by President Obama. President could have reached the top brass through his government agencies or through the chamber of commerce,held discussions with the business leaders. The executives themselves would have come forward voluntarily with cap on their salaries as Citi Bank CEO has done. President's decision has made them appear less patriotic than they actually are.

We should not forget that these are the same executives who contributed to the growth of the organizations thus contributing indirectly to the growth of the US economy and creation of jobs,If US is the only economic super power in the world,the contribution of these corporate bosses is more than substantial.

The economic slowdown is not entirely of their making, though they are also responsible partly.they are as much US citizens as other populace,and responsible for Presdient Obama's victory.

Better option would have been to take them into confidence, and get voluntary
salary caps from them.This people Vs Industry battle does augur well for the growth of the country, because these two are interdependent.

Shyamsunder Panchavati

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