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What is the truth about CEO's pay?
Posted on 5/22/14 at 9:02 pm
Posted on 5/22/14 at 9:02 pm
I thought this was pretty interesting. Especially with McDonald's being in the news recently.
LINK
quote:
Let’s take McDonald’s as an example. According to the Christian Science Monitor in 2012, McDonald’s had the highest gap between CEO pay and worker pay in the nation (though some other sources grant JC Penny with this title), with CEO Donald Thompson earning 1,196 times what the average worker earns. Thompson earns $9,247 an hour — compared to $7.73 for the average McDonald’s employee. In 2012, Thompson was compensated $13.8 million for his role as CEO.
So is it fair that Thompson earns in a single year that a McDonald’s employee would have to work nearly 900 years to earn? The answer certainly would be yes if Thompson could simply solve this problem by paying himself less, but that wouldn’t do much. McDonalds employs roughly 440,000 people (full time + part time). Even if Thompson decided to work pro bono and distribute his annual compensation among his workers, this would only translate to a $31.36 a year raise per employee – or less than a 1 cent an hour raise.
LINK
16
Posted on 5/22/14 at 9:11 pm to La Place Mike
He is responsible for the well-being of 440,000 people plus the assets of a multi-billion dollar company. No way you take on that kind of responsibility for less than $10 million per year. People think these CEO's just sit in a leather chair and smoke fat cigars. Are some paid more than their worth ? Sure. But they need to ask themselves how much it would take for them to bear the type of responsibility he does ? Stupid people believe anything the damn magic box tells them. 
Posted on 5/22/14 at 9:17 pm to La Place Mike
Most McDonalds are franchises.
Posted on 5/22/14 at 9:19 pm to La Place Mike
I wonder how much more Oprah or LeBron earns than their lowest paid employees. Yet Liberals don't care about that...because they "vote right".
Posted on 5/22/14 at 9:22 pm to La Place Mike
It comes down to jealousy, pure and simple.
Posted on 5/22/14 at 9:23 pm to stuntman
quote:
I wonder how much more Oprah or LeBron earns than their lowest paid employees. Yet Liberals don't care about that...because they "vote right".
Libs have problems with corporations and big companies based on their fear of "exploitation."
Posted on 5/22/14 at 9:23 pm to La Place Mike
I think the bigger issue is that the perception, and you can argue with this all you want and that's fine...i'm not arguing the merits, is that CEO's and the 1% in general are, unlike in boom years like the 90's, creating wealth for themselves largely at the expense of everyone else (and particularly the bottom 15-20%). I'm not saying that's right or wrong, I'm just saying that's how people feel.
Ultimately I think it's a really complicated issue on all fronts, but you shouldn't be surprised that people at the bottom end, who can't make ends meet on 40 or even 50 hour work weeks, are upset when they see the top earners get bigger and bigger paychecks. And on top of that if the CEO does something shady not only do they not get punished but they get a golden parachute payday.
I think the left often times attacks "income equality" from the wrong angle, i'm not convinced increasing the minimum wage is a cure all or even a positive thing in general, but at the same time it's bad for America when the income disparity is growing at the rate it's growing.
Ultimately I think it's a really complicated issue on all fronts, but you shouldn't be surprised that people at the bottom end, who can't make ends meet on 40 or even 50 hour work weeks, are upset when they see the top earners get bigger and bigger paychecks. And on top of that if the CEO does something shady not only do they not get punished but they get a golden parachute payday.
I think the left often times attacks "income equality" from the wrong angle, i'm not convinced increasing the minimum wage is a cure all or even a positive thing in general, but at the same time it's bad for America when the income disparity is growing at the rate it's growing.
This post was edited on 5/22/14 at 9:25 pm
Posted on 5/22/14 at 9:26 pm to stuntman
quote:
I wonder how much more Oprah or LeBron earns than their lowest paid employees. Yet Liberals don't care about that...because they "vote right".
well in their respective fields, Oprah and LeBron are the "workers". I'd much rather LeBron get the money being generated as opposed to whoever owns the Miami Heat.
This post was edited on 5/22/14 at 9:27 pm
Posted on 5/22/14 at 9:27 pm to Draconian Sanctions
quote:
I think the left often times attacks "income equality" from the wrong angle, i'm not convinced increasing the minimum wage is a cure all or even a positive thing in general, but at the same time it's bad for America when the income disparity is growing at the rate it's growing.
Not sure I agree 100% but maybe?
The perception is a problem...but there isn't much that can change it. Like you said, I think it is approached in a poor manner. All the talk popping up now is doing nothing but exacerbating the issue (perception).
Is the gap a good thing? Probably not.
Is there a reason it is there? Yup.
Is there anything the government can/should do to fix it? Nope.
Posted on 5/22/14 at 9:28 pm to Draconian Sanctions
quote:
you shouldn't be surprised that people at the bottom end, who can't make ends meet on 40 or even 50 hour work weeks, are upset when they see the top earners get bigger and bigger paychecks.
Which is why they re on the bottom and can't make ends meet on 40 or even 50 hour work weeks.
quote:
I think the bigger issue is that the perception
i'm tired of "we have to adjust" to spare the delicate sensibilities of the dumb or poor or children.
Posted on 5/22/14 at 9:29 pm to Draconian Sanctions
quote:
it's bad for America when the income disparity is growing at the rate it's growing.
That in and of itself is not necessarily a bad thing. What makes it bad is what's causing it today...crony capitalism.
Liberals don't realize that the regs, taxes and relentless money printing they constantly advocate for are the very drivers of the "income gap" they are always bitching about.
Economic illiteracy is at epidemic levels in this country.
This post was edited on 5/22/14 at 10:05 pm
Posted on 5/22/14 at 9:31 pm to BlackHelicopterPilot
quote:
Which is why they re on the bottom and can't make ends meet on 40 or even 50 hour work weeks.
Well IMO if you show up to work every day and you give it your all, you should be able to make ends meet on 40-50 hours a week. If you're a lazy POS that's another discussion but there are a lot of very hardworking people out there who are doing everything they can and either it's just not enough or they have to spend every waking moment of their lives working. I just don't think that's a good thing.
Posted on 5/22/14 at 9:34 pm to stuntman
quote:
Economic illiteracy is at epidemic levels in this country.
And the "powers that be" with their willing media accomplices have every intention of seeing that it stays that way.
Posted on 5/22/14 at 9:36 pm to Draconian Sanctions
It all comes down to one very important phrase my father taught me when I was about 4 years old and that has stuck with me ever since.
"Son, sometimes life just isn't fricking fair and you have to deal with it."
"Son, sometimes life just isn't fricking fair and you have to deal with it."
Posted on 5/22/14 at 9:40 pm to Draconian Sanctions
quote:
Well IMO if you show up to work every day and you give it your all, you should be able to make ends meet on 40-50 hours a week
And, you CAN. I clearly said the one's that cn't understand why the CEO makes so much MORE are too dumb to be able to not spend all of their money on trifles OR are in dead-end min wage jobs...because they are dumb.
Those that DO understand, have better jobs and make okay choices and do make ends meet
Posted on 5/22/14 at 9:40 pm to deltaland
quote:
It all comes down to one very important phrase my father taught me when I was about 4 years old and that has stuck with me ever since.
"Son, sometimes life just isn't fricking fair and you have to deal with it."
I mean sure I understand that and that's fine. I just think that our goal as a society should be that if you're out there working your arse off you should be able to survive. I know there are mitigating factors like drugs and kids and whatever but IMO if we're going to give people welfare or food stamps, and i don't think i should get a lot of argument on this, they should be going to the people who are working hard and trying as much as they can to make it, and society should help those people live comfortable enough lives. If you can't be bothered to show up for work or something that's a different discussion.Posted on 5/22/14 at 9:42 pm to BlackHelicopterPilot
quote:
are too dumb to be able to not spend all of their money on trifles OR are in dead-end min wage jobs...because they are dumb.
Those that DO understand, have better jobs and make okay choices and do make ends meet
you do realize that there are more people out there looking for a "good job" than there are "good job"'s to go around, right? This isn't 1998.
Posted on 5/22/14 at 9:45 pm to Draconian Sanctions
quote:
you do realize that there are more people out there looking for a "good job"
I thought they were working 40 or 50 hours
Why must we always hear about these poor folks who just had wrong done to them?
Just be above average...and average ain't that high
Posted on 5/22/14 at 9:48 pm to Draconian Sanctions
quote:
you do realize that there are more people out there looking for a "good job" than there are "good job"'s to go around, right?
In your opinion, what are a few of the reasons for this?
Posted on 5/22/14 at 9:48 pm to Draconian Sanctions
quote:Are you admitting that Obama has done a piss poor job with the economy?
you do realize that there are more people out there looking for a "good job" than there are "good job"'s to go around, right?
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