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Started By
Message
re: Funny how the socialists devalue a CEO
Posted on 12/29/23 at 4:06 pm to Klark Kent
Posted on 12/29/23 at 4:06 pm to Klark Kent
quote:A board of directors hiring a CEO may not be capitalism at its core.
They hate all facets of capitalism. They want each person, regardless of the circumstances, effort, or investment to have the same outcome. Equity.
1
Posted on 12/29/23 at 4:06 pm to dgnx6
You highlighted this:
But not this?
Seriously? CEO’s payment aren’t primarily an actual pay check but other compensation like stock awards, stick options, etc…
quote:
His annual salary at Chrysler was $1
But not this?
quote:
with other compensation not publicly disclosed.
Seriously? CEO’s payment aren’t primarily an actual pay check but other compensation like stock awards, stick options, etc…
Posted on 12/29/23 at 4:08 pm to fightin tigers
Jimbo fisher was the CEO of a football team and he made $70 Million for being a complete failure
Posted on 12/29/23 at 4:11 pm to 75503Tiger
well, for me it is a different story.
when I worked for EDS back int he day, the the CEO Dick Brown, sold several hundred thousand shares of stock and banked 30 or so million bucks, the next day he announced we would miss earnings and out stock dropped from 120+ a share to 14 bucks a share. he then paid out bonuses to upper management, and announced they were laying off 15% of the work force.
when asked why he would accept a 15 million bonus, and lay folks off - he said it was because he had an expensive wife. he was investigated for insider trading, which he did, found innocent, shocker, and accepted a 35 mil buyout to leave the company.
so yeah - I appreciate what they do to keep the companies going, but i also do not delude myself to believe they are in it for anything more than lining their pockets and keeping the Board members rich - the little guys are meaningless.
when I worked for EDS back int he day, the the CEO Dick Brown, sold several hundred thousand shares of stock and banked 30 or so million bucks, the next day he announced we would miss earnings and out stock dropped from 120+ a share to 14 bucks a share. he then paid out bonuses to upper management, and announced they were laying off 15% of the work force.
when asked why he would accept a 15 million bonus, and lay folks off - he said it was because he had an expensive wife. he was investigated for insider trading, which he did, found innocent, shocker, and accepted a 35 mil buyout to leave the company.
so yeah - I appreciate what they do to keep the companies going, but i also do not delude myself to believe they are in it for anything more than lining their pockets and keeping the Board members rich - the little guys are meaningless.
Posted on 12/29/23 at 4:26 pm to Rouge
quote:
They get pissed about the golden parachute that is given regardless of performance.
People hate head football coaches for the same reason.
And these happen for the same reason. The CEO has an outsized effect on a company. Our CEO (probably will read this and knows who I am) will make about $1.5 million this year. Most of that is incentives based on earnings. But he can make a difference in earnings on $20 million per year one way or the other. So we are very willing to pay well when we think we have the right one. If we’re wrong, and we pay a million dollar severance when we have to fire him, that is 2% of annual earnings, so big deal. if we lost him because we would not agree to that, and our earnings plateaued at $20 million lower, that would be catastrophic relative to that payout.
In case he reads this…
Posted on 12/29/23 at 4:29 pm to 75503Tiger
I started this thread in response to the Pizza Hut thread where they were all bemoaning the CEO receiving a huge salary. This guy understands business, finance and law while operating on an international level. His pay, in relation to the number of outlets he is responsible for maintaining, may only equate to a few thousand dollars per store. Is he not entitled to a piece of the action? I seriously doubt he takes a few rips off his bong between meetings.
quote:
Aaron Powell serves as Chief Executive Officer of the Pizza Hut Division, reporting directly to the Yum! Brands CEO. In this role, he is responsible for driving Pizza Hut’s global growth strategies, franchise operations and performance. Before joining Yum!, Powell spent more than 14 years at Kimberly-Clark serving in a variety of global leadership roles across the business-to-business and consumer operations with extensive experience in corporate strategy, M&A, sales, marketing, e-Commerce, and operations. Powell served as President of Kimberly-Clark’s Asia-Pacific consumer business and was responsible for the Company’s largest international region with operations in more than 30 countries, covering Australia, China, India and South Korea. Prior to that, he led the Kimberly-Clark Professional business globally, including a wide range of commercial products and services; led the Company’s consumer business in Europe, the Middle East, and Africa; and served as Managing Director of its consumer business in Central and Eastern Europe. Powell previously spent four years with Bain & Company, one of the world’s largest strategic management consulting firms, serving in its consumer practice, and eight years in sales leadership and brand management roles at Proctor & Gamble. He holds an MBA from the Wharton School of Business at the University of Pennsylvania and a bachelor’s degree from Washington University. He currently serves on the Board of Directors for Sherwin-Williams.
This post was edited on 12/29/23 at 4:38 pm
Posted on 12/29/23 at 5:02 pm to kjp811
quote:
So the are beholden to the shareholders and the boards.
Shareholders have no real power except for major fund managers, maybe.
And the execs all serve on each others boards. It’s a bit of a high dollar circle jerk
Posted on 12/29/23 at 5:17 pm to LSUFanHouston
quote:
If a CEO is good, pay him tons of bonuses but don’t forget the workers who execute the strategy.
An engaged workforce is part of being a “good” CEO.
Posted on 12/29/23 at 5:33 pm to SUJagsfan
quote:
SUJagsfan
Awe look at the little self entitled “democrat trying to sound like it’s an intellectual. You people can be spotted a mile away the minute you start using words that are never in your daily dialect.
Posted on 12/29/23 at 5:50 pm to 31TIGERS
quote:
Awe look at the little self entitled “democrat trying to sound like it’s an intellectual. You people can be spotted a mile away the minute you start using words that are never in your daily dialect.
are you replying to this?
quote:
So you're not a fan of socialism or liberalism but you seem to be a fan of totalitarianism and forced collective thought....interesting
which was in response to this?
quote:
A severe mental disorder just like liberalism. Both need to be wiped out completely because BOTH never work in any way, shape, or form. And both are completely useless and destructive if not put down!
seems pretty on point to the self proclaimed constitution thumpers
Posted on 12/29/23 at 5:57 pm to hubertcumberdale
quote:
hubertcumberdale
So you’re all in on socialism. Typical of you libtards.
Posted on 12/29/23 at 6:18 pm to 75503Tiger
shite I'm late to the Boomer meeting
Sorry fellas how's it goin
Sorry fellas how's it goin
Posted on 12/29/23 at 6:25 pm to tigerfoot
quote:
A board of directors hiring a CEO may not be capitalism at its core.
that’s fair
Posted on 12/29/23 at 6:27 pm to 75503Tiger
ghvjbknl
This post was edited on 12/31/23 at 11:46 pm
Posted on 12/29/23 at 8:58 pm to OKBoomerSooner
quote:
shite I'm late to the Boomer meeting
The clueless fricktard meeting ran long?
Posted on 12/29/23 at 9:13 pm to GreatLakesTiger24
quote:having a landlord is trashy
I tip my landlord
Posted on 12/29/23 at 10:01 pm to 75503Tiger
quote:
The clueless fricktard meeting ran long?
What makes you think they would invite ME in?
Posted on 12/29/23 at 11:36 pm to hubertcumberdale
quote:
by hubertcumberdale
swinging and missing is better than not trying at all, isnt it hubert? don’t worry comrade, maybe one day we’ll achieve true equity and you can get your own place away from Mom.
Posted on 12/30/23 at 12:14 am to Klark Kent
Go to bed, wake up and try again brother
Posted on 12/30/23 at 6:21 am to KiwiHead
Definition of failing upwards
I am this way too.
As evidence I point out the fact that EVERY company I have worked for is now bankrupt and out of business going back to when I was 16. The last 2 I got laid off when they closed and hired prn where in 2 weeks they fired my boss and promoted me over her (that’s when I found out they could not manage worth a flip and business was going under).
I am this way too.
As evidence I point out the fact that EVERY company I have worked for is now bankrupt and out of business going back to when I was 16. The last 2 I got laid off when they closed and hired prn where in 2 weeks they fired my boss and promoted me over her (that’s when I found out they could not manage worth a flip and business was going under).
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