Obamanomics...

It's been just couple of weeks, since he became President of USA but he has already started to show the impact & change that he was talking about all the while during the presidential campaign.

The massive bailout package, the health sector improvement, softening on the mortgages etc.
But the best was about his vocal outcry on the massive bonuses and salaries taken by the top executives of the troubled companies. In fact, every person impacted by this turmoil will agree with Obama and find the act of these executives not just shameful but disgusting.

The same set of people who are responsible for making this historical mess continue to enjoy even when there are thousands of layoffs on a daily basis. I am further pained by the fact that one of them is an Indian - CEO of Citibank that is the worst performer. With a pay packet for US$215M, he is earning more than some of the IT companies earning as an YoY revenues, they have shown extreme inability, incompetence and lack of appreciation to their government.

I think, the idea to cap the salaries of all these CEOs less than that of the payout of the President's salary is great idea but needs to be implemented globally because many of these companies can get these greedy and selfish top executives into another friendly nations and make them operate from there.

In fact, the solutions lies in the corporate governance and applicability of the same cross board with everyone. We have seen, employees and middle and junior level under heavy stress to follow guidelines but at the top, it is freedom from every single rule. I have seen CEO/ CFOs sending/ calling employees to cut travel costs (even if the travel is important) but they fly in and out on a daily basis and that too first class.

Gone are the days, when the top management used to be the role-models for juniors but in this new world of greed, corruption and "me-first and me-only" world, we are left with a bankrupt top management in terms of values, culture, leadership, competence and governance.