(tco 3) what must be limited according to limits of growth critics
The Limits to Growth Criticism of LTG was immediate. Peter Passell and two co-authors published a 2 April 1972 article in the New York Times describing LTG as "...an empty and misleading work .... best summarized ... as a rediscovery of the oldest maxim of computer science: Garbage In, Garbage Out." Passell found the study's simulations to be simplistic, while assigning little value to the role of technological progress in solving the problems of resource depletion, pollution, and food production. They charged that all LTG simulations ended in collapse, predicted the imminent end of irreplaceable resources, and, finally, that the entire endeavor was motivated by a hidden agenda: to halt growth in its tracks.[17]
Executive compensation In a modern corporation, the CEO and other top executives are often paid salary plus short-term incentives or bonuses. This combination is referred to as Total Cash Compensation (TCC). Short-term incentives usually are formula-driven and have some performance criteria attached depending on the role of the executive. For example, the Sales Director's performance related bonus may be based on incremental revenue growth turnover; a CEO's could be based on incremental profitability and revenue growth. Bonuses are after-the-fact (not formula driven) and often discretionary. Executives may also be compensated with a mixture of cash and shares of the company which are almost always subject to vesting restrictions (a long-term incentive). To be considered a long-term incentive the measurement period must be in excess of one year (3â€“5 years is common). The vesting term refers to the period of time before the recipient has the right to transfer shares and realize value. Vesting can be based on time, performance or both. For example, a CEO might get 1 million in cash, and 1 million in company shares (and share buy options used). Vesting can occur in two ways: "cliff vesting" (vesting occurring on one date), and "graded vesting" (which occurs over a period of time) and which maybe "uniform" (e.g., 20% of the options vest each year for 5 years) or "non-uniform" (e.g., 20%, 30% and 50% of the options vest each year for the next three years). Other components of an executive compensation package may include such perks as generous retirement plans, health insurance, a chauffeured limousine, an executive jet, and interest-free loans for the purchase of housing.