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Thread: Paychecks as Big as Tajikistan

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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by Wiseone View Post
    I haven't seen any numbers on percentages but I wouldn't disagree. Really my argument focuses more on simple morals, which tell me that those in that kind of position shouldn't reap in huge rewards, regardless if their "talents" demand that kind of wage when the company and its employees are suffering. I just don't think its right to take that kind of money and stick it in your pocket when it could be used to help the damn company you run and/or own, not to mention the people. I'm not saying what they do is or should be illegal, its just my opinion its morally disgusting.
    The last company I worked for was owned by three men. The company pulled in approximately $13 million in net income each year. We had 40 employees, three locations, and usually about $2 million worth of inventory on-hand. I was mid-range in terms of salary, making 35k a year (started at $10 an hour three years ago). There were weeks that I wondered whether I could afford the gas to get to work during that three-year run, but I never felt as though the owners should give up some of their millions because I was struggling. They're the ones taking the risk with the company, especially in a trick economy. Why should they not be the ones reaping the majority of the reward?
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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by tessaesque View Post
    The last company I worked for was owned by three men. The company pulled in approximately $13 million in net income each year. We had 40 employees, three locations, and usually about $2 million worth of inventory on-hand. I was mid-range in terms of salary, making 35k a year (started at $10 an hour three years ago). There were weeks that I wondered whether I could afford the gas to get to work during that three-year run, but I never felt as though the owners should give up some of their millions because I was struggling. They're the ones taking the risk with the company, especially in a trick economy. Why should they not be the ones reaping the majority of the reward?
    Like I said its really just personal opinion, and I think it comes from my experience in the Army. Like these business owners I have a lot of responsibility and control over people's lives, however I don't do it for monetary gain. When I think of being the "boss" or "leader" I think of someone who's there to help his people, someone who'll make sacrifices for his people, it doesn't occur to me that its only for personal economic gain and that the only reason you, the employee, are there is simply because there's too much labor for the owner to do.

    Beyond that I can't really justify it because again its personal opinion, its just how I feel, I'm not claiming a rock-solid argument its just how I feel.

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    Re: Paychecks as Big as Tajikistan

    Class warfare is not going to solve this nations problems, no matter how jealous of the boss's income one is.

    j-mac
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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by Wiseone View Post
    I think looking at how much CEO salaries have increased in the last decade, and how much better off economically in the last decade, that it's not going to hurt anything to reduce their salary. Companies should cut back on these ridiculous pay increases, now I'm not saying they don't have a right to do whatever they want in their company so long as its legal, nor I'm I suggesting it'll solve our problems, but frankly legal or not its disgusting to see these people who's company's are often driven into the ground and workers suffering, reap in huge amounts of money.

    You talk about capable, yes they should be capable, problem is many times they aren't, so by your own definition they shouldn't be paid that much.

    Executive PayWatch: Trends in CEO Pay

    Stocks may fall, but execs' pay doesn't - USATODAY.com
    Many times? How many? Who in particular do you mean?
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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by American View Post
    Many times? How many? Who in particular do you mean?
    I'm talking about individuals such as Bernie Madoff who basically ran a ponzi scheme with investors money. Or Richard Fuld who, while Lehman Brothers was collasping, managed to be paid at least 300 million by his own admission.

    Richard Fuld punched in face in Lehman Brothers gym - Telegraph

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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by tessaesque View Post
    So how much is it worth to:

    1. Run a company worth billions of dollars.
    2. Run a company that hires thousands of employees.
    3. Run a company with hundreds of locations.
    4. Be the fall guy any time something negative happens with the company.
    5. Be the fall guy when the board of directors wants answers on a poor quarter.
    6. Be the figured head of a mutli-national corporation.
    7. Be the guy begging Congress to provide a bail out, increase/decrease regulations, or approve a merger.
    8. Be the guy responsible for every decision made, even if you don't get to make them yourself.
    9. Be the guy who might not see his family for most of the year.
    10. Be the guy held responsible when one asshole in accounting (out of thousands of assholes in accounting) manipulates the system and loses millions of the company's profits.

    How much is it worth to be a top executive? Do you think we would find honest, capable, willing executives if we took them down to a rate of people equal to your justifiable level? Do you think cutting salaries to your justifiable level would ensure that executives put in time and effort to run companies properly? Do you think we would be able to fill empty executive positions at the rate of pay you'd like to see them earning? Do you think companies would be more successful?
    Being the top dog and working to become the top dog are two different things. It's much easier being the top dog. It would seem that you assume corporate heads are indispensable. They aren't. Often these days there is much too much compensation difference between corporate level directors and the rank and file staff and line workers.

    It's all a rather moot point anyway. Corporate boards and share holders aren't going to roll back compensation, the government damned sure isn't going to do anything and perhaps only a few CEOs, CFOs and COOs are going to be magnanimous and return excessive compensation to the employees.

    I will all be whiskey under the bridge by this winter when the country finally tanks.
    Last edited by Risky Thicket; 06-22-11 at 11:46 AM.










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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by Wiseone View Post
    I'm talking about individuals such as Bernie Madoff who basically ran a ponzi scheme with investors money. Or Richard Fuld who, while Lehman Brothers was collasping, managed to be paid at least 300 million by his own admission.

    Richard Fuld punched in face in Lehman Brothers gym - Telegraph

    Equating today's CEO's with Bernie Madoff is not only wrong on so many levels, but inflammatory too boot.

    Richard Fuld is another story, however, compensation like that wouldn't shouldn't be a question because it is the shareholders that determine the contracts right?

    j-mac
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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by American View Post
    Nancy Pelosi's wealth increased by 62% last year. I guess she's part of the greed problem.
    So she got 62% pay rise in Congress... ?
    PeteEU

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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by PeteEU View Post
    But the kicker is this one..

    Thirty-two companies paid their top executives more in 2010 than they paid in cash income taxes.

    Talk about a wacked out priorities ....
    ...except most corporations nowadays will take as much excess profit as they can, put it down as executive payroll, and pay a different tax on it. Doesn't mean the money goes untaxed, or that they're using it for take-home pay.

    Accounting 101.

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    Last edited by Jeezy; 06-22-11 at 01:03 PM.
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    Re: Paychecks as Big as Tajikistan

    Quote Originally Posted by PeteEU View Post
    So she got 62% pay rise in Congress... ?
    In terms of her wealth, not Congressional pay. Unless you really think that is her only income? But I suspect you are just being disingenuous here....

    Look, you are promoting class warfare, with this bitching about CEO pay, when you are smart enough to know how that is arrived at.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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