STOP!!! No More Credit!

Please stop trying to force the banks to extend more credit. That is not the problem. We owe too much already and the last thing we need is more credit. What we need is:

• To be able to buy groceries and gas without having to use credit
  

   

• To be able to fix the car without using a credit card
  

   

• To be able to fix the leaking roof on the house without taking out a loan
  

   

• To be able to send the kids to school without taking out a loan
  

   

• To be able to pay off what we owe.
  

   

• To be able to put money in the bank for a rainy day
  

So please stop trying to get us more credit. That is the last thing we need.

A starting point for new Corporate Governance rules

Corporate Governance:

Board of Directors:

Members must be linked to the company.

50 % of the board must come from stock holders

50% of the board must come from employees

If there are no external stock holders, then board members must come from the employees

Members that are part of both groups would fall under the employee category.

Board of Directors members cannot be paid to serve on the board. This is an unpaid position, including no stock grants, stock options or other forms of compensation. They can only be reimbursed for expenses related to board meetings and corporate business.

 

Compensation:

Total comp of highest paid employee cannot be more than 40x (or an appropriate multiple) of lowest paid employee.

Corporate policy must apply to all employees equally.  Senior executives must follow same HR policies, including retirement, pension and medical.

No employment contracts are allowed that bypass HR policy or extend additional benefits, unless they apply to everyone.

Chief type senior positions (CEO, COO…) cannot be filled by consultants for extended periods of time.