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...Congress should be the first to know that dictating what executives can get paid doesn't always work as expected. In 1984, Congress passed a law eliminating the tax deductibility of golden parachutes that exceeded three times base salary. Corporate America took that to mean anything below that multiple was fine: golden parachutes worth 2.99 times base salary proliferated, where before there were none at all. In 1993, Congress said only $1 million of an executive's salary would be tax deductible. So companies began paying their CEOs massive amounts in other forms, like stock options and deferred compensation...
...Possibly the most important piece of advice is to be respectful of your roommates. Just because your half of the bunkbed might feel like a cozy sanctuary does not mean it actually is. Your roommate might wait until graduation to tell you this, but they can always hear you. ALWAYS. And don’t think you’re being respectful by moving things into the common room. Your roommates will eventually realize that the mysterious stains on the futon are not from Chinese takeout...
...country, at science camps and singing camps and sports camps, future Harvard students’ revolutions were being awkwardly thwarted by the exact same forces. But just because we were all here being awkward together at a sleep-away camp on the Charles doesn’t necessarily mean that the gawkish days have ended. I remember young Grant Noble’s first Harvard Carnival, baked beans and ranger cookies sliding around his white plastic plate as he tried to manage his cutlery, hold a hotdog, and escape from a girl with blonde dreadlocks who said she wanted...
...would only hurt their willingness to get on board. Critics in both parties say the threat of the executives' firms going belly-up should ensure their cooperation regardless of what restrictions are placed on their once golden parachutes. Mounting pressure from constituents on Main Street is likely to mean there will be some cap on compensation associated with the bailout. But corporate America usually finds a way around such limitations, and there are even legal questions about what kind of restrictions can be placed on the firms' compensation structures...
...mean Tim was a senior official here at Treasury, earlier, he knows the Treasury Department well; he actually helped me get acclimated and think about my job. I'd known him when I was in New York...