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re: What is the truth about CEO's pay?
Posted on 5/22/14 at 9:50 pm to La Place Mike
Posted on 5/22/14 at 9:50 pm to La Place Mike
quote:
Are you admitting that Obama has done a piss poor job with the economy?
I think the problems with the economy go much deeper than who the president is.
although i'm not saying he has done a good job with it by any stretch.
2
Posted on 5/22/14 at 9:53 pm to Draconian Sanctions
quote:
I think the problems with the economy go much deeper than who the president is.
Posted on 5/22/14 at 9:53 pm to La Place Mike
quote:
Despite everything outlined thus far, there exists a gaping flaw in the statistic that the average CEO earns 300 or so times more than the average worker. The statistic tossed around isn’t exactly measuring the pay gap between the average CEO and the average worker, it’s measuring the pay gap between the average worker and a CEO at the nation’s largest companies.
Look at the AFL-CEO’s report that the average CEO earned 331 times the average worker in 2012, and you’ll see a footnote which explains that this is an “AFL-CIO analysis of 350 available companies in the S&P 500.” When the Economic Policy Institute states that “Average CEO compensation was $14.1 million in 2012,” it adds the caveat, “using a measure of CEO pay that covers CEOs of the top 350 firms.”
I happened to notice a convenient correlation that the more liberal leaning a website was, the more likely it was to omit the fact that compensation was only measured among 350 companies in the S&P500.
quote:
The Bureau of Labor Statistics places the mean annual Chief Executive wage at $178,400, and the median at $171,610. Both estimates exclude benefits
Forbes states that 2% of CEOs in America have an annual salary above $3 million (excluding benefits), while 77% earn $500,000 or less.
These stats can help put things into perspective. People put out certain agenda driven stats to try to paint a worse picture than is reality. In reality, most business owners and CEO's are not multi-millionaires preying on the labor of the poor.
The mega rich ones are running some the biggest companies in the world, in charge of hundreds of thousands of employees and billions of dollars. Yes, some people are super rich and some people are super poor, but comparing the two is of no relevance.
Posted on 5/22/14 at 9:54 pm to Draconian Sanctions
Income inequality is a symptom of upward mobility and economic growth. And it's not a zero sum game. The fact that a CEO makes more than a worker does not mean that he is 'stealing" a worker. Regardless of inequality, the low wage worker of today is WAYYYYYY better off than a poor lad in the 70s.
Posted on 5/22/14 at 10:04 pm to La Place Mike
quote:
La Place Mike
keep playing your red vs blue game
Posted on 5/22/14 at 10:18 pm to La Place Mike
I believe that if we're going to embrace the safety net for society which I believe we should, our rules shouldn't be created in a way that punishes the strongest and most successful but they should be made to protect the weakest and least successful.
Posted on 5/22/14 at 10:36 pm to Draconian Sanctions
quote:
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.
This is the big issue for me. I don't have a problem with the level of CEO pay - it's always been high and there is a lot of risk involved. They are responsible for tons of people and assets.
My problem is when a CEO gets a huge paycheck, runs the company into the ground, and then gets another huge paycheck when leaving. Or, they do all sorts of book-cooking, then get a slap on the wrist.
In exchange for that high pay, there should be real consequences when they screw up... especially if they do something illegal.
Posted on 5/22/14 at 10:41 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. 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.
Right now, our society is set up like this: A person who works 40 hours in one crappy job and 20 hours in another crappy job each week, is in the same financial situation as a welfare queen who pops out kids with her hurt back baby daddies. That is beyond messed up.
Posted on 5/22/14 at 10:45 pm to oklahogjr
quote:
they should be made to protect the weakest and least successful.
The rules reward a lack of success. You're penalized for trying to better yourself.
Why work two jobs and lose benefits when you can work one and have the same lifestyle courtesy of the taxpayer?
Posted on 5/22/14 at 11:17 pm to La Place Mike
They were talking about this on CNN earlier today. They said that the wage gap between execs and hourly workers at McDonald's was one of the largest. All I could think was no shite. When you are working somewhere that allows mentally retarded people to do the same work as you then the hourly workers aren't going to make much money.
Posted on 5/22/14 at 11:23 pm to oklahogjr
quote:
I believe that if we're going to embrace the safety net for society which I believe we should, our rules shouldn't be created in a way that punishes the strongest and most successful but they should be made to protect the weakest and least successful.
One of the craziest things to me is that if you are in college but not working 20 hours a week then you don't qualify for food stamps unless you are a sigle parent with a child under 12. While deadbeats sho do nothing but sit on their arse all day are able to collect.
Posted on 5/22/14 at 11:33 pm to Draconian Sanctions
What do you do for a living draconian sanctions?
Posted on 5/22/14 at 11:35 pm to Draconian Sanctions
Just a reminder that talking about the poor and rich as static groups is a failed start to any economic discussion. Nearly 75% of Americans will fall into the top 20% of earners at least one year during their working for lives. So many policies are based on the idea that the low wage earners working at McDonald's are the same group of people for an entire career.
Posted on 5/23/14 at 5:59 am to La Place Mike
quote:lol epic partisan fricktardedness bro xD
Are you admitting that Obama has done a piss poor job with the economy?
Posted on 5/23/14 at 6:12 am to LSUFanHouston
Food for thought: why are people upset about CEO compensation? Have you read McDonalds 14-A filing on how the guy gets paid or are you just reading the topline number? Have you read the guys history and what he has done?
If it's just about money why aren't you outraged with how much the average Wall Street trader makes by the age of 35? As opposed to some dude in his 60's that needs to be approved by a board and is very accomplished?
Stop buying the propaganda
If it's just about money why aren't you outraged with how much the average Wall Street trader makes by the age of 35? As opposed to some dude in his 60's that needs to be approved by a board and is very accomplished?
Stop buying the propaganda
Posted on 5/23/14 at 6:13 am to Hog on the Hill
quote:You disagree with the premise?quote:lol epic partisan fricktardedness bro
Obama has done a piss poor job with the economy
Posted on 5/23/14 at 6:18 am to NC_Tigah
Like DS said, it's a problem that goes deeper than who is currently president. The fact that you asked that question in response to DS belies that you think it's all Obama's fault. I disagree with that.
The question you asked is loaded, and I'm not going to be baited with it.
The question you asked is loaded, and I'm not going to be baited with it.
Posted on 5/23/14 at 6:25 am to Hog on the Hill
quote:No.
The fact that you asked that question in response to DS belies that you think it's all Obama's fault.
However, the fact you responded in the sophomoric way you did to the previous post (and to mine) indicates a willingness to underestimate negative impact of Administration Policy.
Question you should ask is whether your attitude is due to partisanship, ignorance, or a bit of both.
Posted on 5/23/14 at 6:32 am to NC_Tigah
Back in topic: the CEO of any company gets compensated in a very scrutinized manner. It is ultimately a free market and pay for performance in most cases. If is fair because they would pay less of they thought they could get te same performance, otherwise every CEO in america would make $200k or less. Why does the left focus only on the CEO and not the SVP of accounting? It'a hilarious that they focus only on the head guy as if everyone else is making min wage.
What the lowest worker gets paid is mandated by the government, just some food for thought.
What the lowest worker gets paid is mandated by the government, just some food for thought.
Posted on 5/23/14 at 6:43 am to OldTigahFot
quote:
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.
Your argument would work if there was some downside accountability. Often, these guys get paid regardless of their performance. Wal Mart's CEO missed his sales target last year and still got his bonus. CEO's have run their companies into the ground and walked away with severance packages in the tens of millions. Being a CEO is a risk-free endeavor in this era. Take a swing at the pinata using other people's money, and if you miss, NBD.
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