View Poll Results: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

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  • Disagree. Quality CEOs are in short supply. They must be paid more or companies can't survive.

    52 54.74%
  • Agree. Times are tough. CEOs should take pay cuts to help their companies be more profitable.

    43 45.26%
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Thread: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

  1. #41
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by Mach View Post
    CEOs of public companies? Depends on the strategy of the board and the CEO and what the shareholders want to gripe about.
    They will always come out ahead, any token "Salary reduction" would primarily be for show anyway, it would do *nothing* to address all this wrongfully perceived injustice.

    I can assure you that if you spent more time and energy on your own career and financial situation, it would yield far greater, and longer lasting returns on your investment, rather than on CEO bashing or CEO salary reduction gimicks. It may even be more fun.
    You don't know that people participating in this thread aren't investing time and energy into their careers. I certainly am. I suspect I'm not the only one.

  2. #42
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by BDBoop View Post
    Well, that's what it used to mean. The future has yet to be determined.
    Why wouldn't it still mean that?

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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by LuckyDan View Post
    Why wouldn't it still mean that?
    It's just not the way things are anymore. Look at BMW. There is no job security. There is no appreciation for a job well done. If it can be done cheaper elsewhere, cya-bye. You have no job. People are perceived as "overpaid", thanks to the unions, so fire them and start over. That's the America I see now.

  4. #44
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by BDBoop View Post
    It's just not the way things are anymore. Look at BMW. There is no job security. There is no appreciation for a job well done. If it can be done cheaper elsewhere, cya-bye. You have no job. People are perceived as "overpaid", thanks to the unions, so fire them and start over. That's the America I see now.
    Well, we don't agree.

    Of course companies want to reduce overhead and yes if they can produce the same product with less expense. Doing so is just good business. I don't agree that most corporations are eager to dump their people onto the unemployment rolls to save a penny on the dollar, tho.

    "Firing them and starting over" is a very expensive and difficult proposition, as is closing down and moving elsewhere. And there's no guarantee of a better result.
    Last edited by LuckyDan; 07-07-11 at 01:17 AM.

  5. #45
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by LuckyDan View Post
    Well, we don't agree.

    Of course companies want to reduce overhead and yes if they can produce the same product with less expense. Doing so is just good business. I don't agree that most corporations are eager to dump their people onto the unemployment rolls to save a penny on the dollar, tho.

    "Firing them and starting over" is a very expensive and difficult proposition, as is closing down and moving elsewhere. And there's no guarantee of a better result.
    I want to believe you. Time will tell.

  6. #46
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by BDBoop View Post
    I want to believe you. Time will tell.
    Business managers are in the same, uncertain atmosphere as everyone else. They don't know what Obama is going to do, or what he'll succeed at doing, but they sense he is hostile to their interests and they are waiting him out.

  7. #47
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by Mach View Post
    CEOs of public companies? Depends on the strategy of the board and the CEO and what the shareholders want to gripe about.
    They will always come out ahead, any token "Salary reduction" would primarily be for show anyway, it would do *nothing* to address all this wrongfully perceived injustice.

    I can assure you that if you spent more time and energy on your own career and financial situation, it would yield far greater, and longer lasting returns on your investment, rather than on CEO bashing or CEO salary reduction gimicks. It may even be more fun.
    I had more patents than anyone else in the division. I helped more other engineers develop patents than anyone else. I did a lot of mentoring, I think more than anyone else I was aware of. From engineers that I sent out the door I got thanks months later because what I had communicated to them was required everywhere, they were doing it now and now successful. The corporate CEO, from another state, could recognize me when he saw me down the hall and facing away from him, and call my name; but, always to work on a problem, never for a complement. My tasks included developing international standards in a way to benefit our business and the marketplace for our product. My pay was high but not what it should be. (There was prejudice at our division that affected many, and I was on the wrong side of it.) About ten years ago we had a RIF at our division. I volunteered because of the prejudice and I could meet the retirement requirements, though normally I wouldn’t retire for ten more years. (I found that I was already on the list later.) I’ve not been employed since. So what has happened to our net worth with my unemployment for ten years? It has tripled. If I continued working it would have cost us plenty. We invested in real estate and stock bought and sold mostly at the right time, I transferred wealth to us. I didn’t add much value to the economy when compared to what I was doing when employed. But I did what you advise “I can assure you that if you spent more time and energy on your own career and financial situation, it would yield far greater, and longer lasting returns on your investment, rather than on CEO bashing or CEO salary reduction gimmicks. It may even be more fun.” But, I sure didn’t benefit many other people by doing what you suggest.

  8. #48
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by LuckyDan View Post
    I haven't read the study but I won't question it.
    You seemed to be disagreeing with the study and questioning it.


    Yes, I found only one CEO who took a pay decrease, and I stumbled onto that one. I'm sure there are more.
    The study looks at the 200 highest paid CEO's and their salaries seem to be raised by 23% by 2009! That is ridiculous. Sure some CEO's pay have not been increasing but im still they are doing just dandy.

    The article is deceptive in that it exploits one study that appears to have examined only successful companies and then argues that CEOs are greedy.
    How are CEO's not greedy?
    Really does not go that direction, its just saying these guys are making a whopping while we give them a tax cut, and say hey not enough jobs here, were gonna cut back on these workers why we give ourselves a nice little increase in wages but we still cant hire you workers.

    I'm sure you didn't see where it says business has no right to be successful.
    Im sure i didnt cuz it never said that.

    It didn't in so few words, but it says that CEO pay increases must be considered against the backdrop of government cutbacks. I'm paraphrasig from memory, but that is I believe the thesis. And it is wrong.
    Really not what it said.
    Here is the whole "idea" of the article from the article itself:

    "These numerical indices of unrestrained self-enrichment by the corporate-financial elite provide the appropriate context for considering the unprecedented wave of budget-cutting taking place across the country. Record budget deficits—the result of depleted tax revenues stemming from the economic crash precipitated by corporate fraud, plus the multi-trillion-dollar bailout of the banks—are being used to justify the gutting of health care, pensions and education as well as pay cuts and attacks on workers’ bargaining rights and the right to strike.
    The universal claim is that “there is no money” to meet the basic needs of the broad masses of the people. As the CEO pay figures show, however, this is a modern-day example of the Big Lie."

    I'm much more content dealing with my company and my future in it than I ever would be in any socialist economy where my labor would be undervalued and heavily taxed.
    So as a worker under a socialist economy you believe you will be "heavily taxed"?


  9. #49
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Quote Originally Posted by TheDemSocialist View Post
    Really does not go that direction, its just saying these guys are making a whopping while we give them a tax cut, and say hey not enough jobs here, were gonna cut back on these workers why we give ourselves a nice little increase in wages but we still cant hire you workers.
    Yup, that's my perception exactly.

  10. #50
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    Re: With workers cutting back, wealthy CEOs should cut back too. Agree/disagree

    Of course the CEOs are getting pay raises. Unemployment is up and wages are down.
    “In politics, stupidity is not a handicap.” -Napoleon

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