Davos Live Talk Transcript

generally speaking, people think it's good news. but if the intent is to avoid a recession, or a significant slowdown, it may have come too late--as stimulus packages almost always do.

Orlando, FL: Does anything really get done at Davos? Or is it just a bunch of cocktail parties for rich white people?
Dan Gross: It's more like a bunch of cocktail parties for rich people of all skin colors. Some of the companies with the biggest corporate presences here are groups like Tata Consultancy, the big Indian outsourcer. I've received about as many invitations from Chinese, Indian, Turkish and Persian Gulf countries and companies as I have from European and American ones.

But in terms of practical things getting done, I don't think much happens -- at least in the rooms in which I'm allowed.

Greenville, SC: The Democratic candidates have been very critical of CEO salaries and separation packages that seem to reward failing executives. Has this come up at Davos? Do any corporate leaders see runaway salaries and compensation (while stocks drop and the working man gets stiffed) as problems? Are they worried about a potential Democratic White House next year?
Dan Gross: Hi - thanks for the questions. Yes, this has come up. Massive separation packages are pretty much an American phenomenon, so Europeans and Asians are generally horrified/in disbelief when the see the numbers. There's a sense afood that American executive compensation is out of control. And, especially when you're talking about Europe and Japan, they have a much stronger sense that there shouldn't be such a massive disparity in wages between CEOs and workers.

And re: concerns about a Democrat in the White House? I'd say it's the opposite. The Bush administration isn't held in particularly high regard by the Davos crowd. Condi Rice was here last night and got a pretty subdued reception. She's the highest ranking American here.

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