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Andy Stern
Labor leader

Andy Stern

Andy Stern is president of the two-million member Service Employees International Union (SEIU), the fastest-growing union in North America.

Wall Street Needs Its Own Leadership

I think it is actually time for Wall Street leaders to re-establish "merit" pay; the old-fashioned concept that you share in both the gain and the pain.

Bonuses that offer leaders compensation that ignore results or value added to the company should either be prohibited or excessively taxed as a matter of equity and fiduciary responsibility.

And companies that are rescued by taxpayers have even a higher standard. Taxpayers should not reward the market failure of its leaders.

If CEOs and corporations want to re-instill a sense of leadership in this country they do not need the President of the United States to be their moral leader. They should condemn instead of financially reward failure, broaden those who share in the gain, and not have capitalism on the way up and socialism on the way down.

By Andy Stern

 |  March 23, 2009; 10:50 AM ET
Category:  Presidential leadership Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati  
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