GM's Whitacre urges U.S. to loosen executive pay caps

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Perhaps, I am the exception, but a lot of what I do in running a business has as much to do with the challenge of being successful, as it does with the dollar compensation. If I succeed, monetary rewards will follow. These guys want the rewards guaranteed up front, so they can't lose even if they fail to produce favorable results. If you are not up to the challenge, don't apply for the job. And if you are a risk taker only with other people's money, stay home. I am absolutely unconvinced that there are no capable leaders that can't be had for a reasonable salary, or that GM can't formulate a compensation package that can deliver a deferred bonus package that is based on proven long term success and not simply showing up for the job. If all the candidates for high level corporate posistions need millions to feed their ego and high-flying lifestyle as a pre-requisite for taking the job, the board of directors needs to re-write their job descriptions to include the words "entrepeneurial talents and attitude" along with a definition of the phrase.
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