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How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

CEO's are hired hands and have no personal risk in the corporations they run. They are protected from personal liability.

Sorry, but the liability for the CEO is extreme in some corporations. Which will be reflected in insurance premiums that address that. His private/personal assets are mostly protected, but he can be held liable for certain situations. And a great many CEOs are significant shareholders and/or have other significant assets invested in the company and every penny of that is at risk.
 
I didn't say they don't work hard. But that work has little to do with what the corporation produces and its ultimate success in doing so.

who the hell do you think steers the ship?

makes the decisions?

decides what products to go with, and which ones to trash?

which services to offer, and what pricing levels to charge?

how much to spend on promotion and advertising? what to do about the lawsuit pending over xxx?

who to put in charge of the sales division when the performance is weak?

every major decision is either made by, or cleared through the executive offices

in my case as the CFO....i even cleared new insurance carriers, whether or not to go BCBS or HMO for health care etc

yes...he delegates a lot of stuff to his staff....but that doesnt mean his fingers arent on the pulse of the company

i really dont think you have any freaking clue what a true CEO does....
 
The skyrocketing profits went somewhere didn't they? So if not executive pay, where? It certainly was not all put back into their companies.

to the shareholders

in the form of dividends, and stock buybacks
 
In a publicly held corporation the CEO's salary is the general public's business

and in a LOT of company's now...the shareholders have a say in what the executives packages will be

as it should be
 
To answer the question, I would need to know How many Dollars I would be making in the example.
 
It's no longer true that America is 'the land of opportunity', it really isn't and hasn't been for many years. Sure, 100 years ago a man could land at Ellis Island in New York from Italy or Ireland and open up a bakery and be successful enough to open a chain of bakeries eventually. Today, that's not possible. Times have changed and opportunities for people who come to this country with nothing will end up working thankless jobs for minimum wage and struggle to make ends meet. There's no more substantial industry left in this country. Manufacturing was modernized with robotics, profit-seeking corporations moved their assembly plants overseas or to Mexico or Canada where the labor is cheaper.

Overall, our work force has fewer options since labor unions are becoming a thing of the past and large manufacturing plants no longer have training programs to teach these people some valuable skills. It's difficult enough if you're white and speak English without a college degree. You're destined to work in a gas station or Walmart or McDonald's. If you're from another country and haven't learned the language yet then you're going to work doing landscape work or some other low-paying manual labor. How can people like this possibly have aspirations or dreams of success?

We aren't the America we once were, we're no longer the 'land of opportunity'. The America we are seeing now is one where long-standing issues of racism, income inequality and immoral capitalism are now clear to see. We've become a country that is fearful, reclusive and not adapted to the new global economy.

I feel for all you kids who have been taught that you are week and ineffective, requiring the benevolence and assistance of government to make it through the day. It's sad that so many people actually believe that crap and are oblivious to opportunities that come their way.
 
Thread: How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

I find the intellectual dishonesty inherent in this question inexcusable. The CEOs of Fortune 500 companies do not make $486 for every dollar any of their immediate subordinates make. No one's boss earns that many more dollars than their direct and immediate employees, hour for hour. These companies are gigantic, and their hierarchies are very tall.

They also don't earn the same type of money. Employees earn wages which are a company's operating expense. CEOs are paid mostly in equity, which is not an operating expense.

You're intentionally trying to be dishonest, misleading and provocative. I'm tired of this meme.
 
The skyrocketing profits went somewhere didn't they? So if not executive pay, where? It certainly was not all put back into their companies.

After all this time, and despite strong feelings on the topic, you still haven't bothered to understand the basics of financial accounting?
 
and in a LOT of company's now...the shareholders have a say in what the executives packages will be

as it should be

But it was the change in the income tax structure that made these exorbitant income possible and acceptable. Why do you think our ancestors instituted a top income tax rate of 90%?
 
A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"


View attachment 67254742

Aspire to be better.

Maybe you will make something of yourself someday.
 
Sorry, but the liability for the CEO is extreme in some corporations. Which will be reflected in insurance premiums that address that. His private/personal assets are mostly protected, but he can be held liable for certain situations. And a great many CEOs are significant shareholders and/or have other significant assets invested in the company and every penny of that is at risk.

They are legally protected from personal liability. That is how corporations work. Most CEO's are hired guns who easily move on.
 
who the hell do you think steers the ship?

makes the decisions?

decides what products to go with, and which ones to trash?

which services to offer, and what pricing levels to charge?

how much to spend on promotion and advertising? what to do about the lawsuit pending over xxx?

who to put in charge of the sales division when the performance is weak?

every major decision is either made by, or cleared through the executive offices

in my case as the CFO....i even cleared new insurance carriers, whether or not to go BCBS or HMO for health care etc

yes...he delegates a lot of stuff to his staff....but that doesnt mean his fingers arent on the pulse of the company

i really dont think you have any freaking clue what a true CEO does....

The CEO does not do all that. It is for the most part delegated. But my point was that they do not create the product or service nor do they even necessarily have to understand anything about it.
 
They are legally protected from personal liability. That is how corporations work. Most CEO's are hired guns who easily move on.

The corporation isn't protected if the CEO screws up though. Which is why there are only a handful of people in the country with the skill set, knowledge, ability, and temperament to be CEO's of large corporations just as there are only a handful of people in the country with star power in the entertainment industry and a handful of people with athletic ability of the caliber necessary to coach or play in high level sporting events. Such people command very high paying salaries and/or contracts.

Why is it that people like you seem to have such a problem with multi-million dollar salaries for CEOs of corporations but not with pro football, baseball, basketball players, boxers, singers, movie stars, etc.? Can you honestly say that it is not prejudiced to condemn one group for their prosperity and not all?
 
The CEO does not do all that. It is for the most part delegated. But my point was that they do not create the product or service nor do they even necessarily have to understand anything about it.

yes they do in a LOT of companies

ours was a 100 million + in sales....and the CEO did exactly those things and many many more

so are you talking ONLY about the elite 50 conglomerates in the world....or CEO's in general of good sized companies

because the two dont square up much.....
 
The corporation isn't protected if the CEO screws up though. Which is why there are only a handful of people in the country with the skill set, knowledge, ability, and temperament to be CEO's of large corporations just as there are only a handful of people in the country with star power in the entertainment industry and a handful of people with athletic ability of the caliber necessary to coach or play in high level sporting events. Such people command very high paying salaries and/or contracts.

Why is it that people like you seem to have such a problem with multi-million dollar salaries for CEOs of corporations but not with pro football, baseball, basketball players, boxers, singers, movie stars, etc.? Can you honestly say that it is not prejudiced to condemn one group for their prosperity and not all?

People like me? I have given no opinion on other high paying professions.

CEO's are not special. They are also the ones most responsible for the failure of corporations. And their failures hurt the lowest level employees, while the failed CEO most often walks away with more compensation for failure than your lowest wage earner makes in a lifetime. Just give me one example of a poor suffering CEO who paid for their failure and maybe I will try to squeeze out a little sympathy. That other professions are overpaid is irrelevant. If an athlete/singer/movie star fails it doesn't cause massive job losses and they don't get government bailouts.
 
Of those who came here by choice, most everyone. Inclusive of those seeking religious freedom, political freedom, and so forth. The Puritans came seeking land, for land in Europe meant wealth and power. Those with power could pray as they believed until someone with more wealth and power said no. The intended destination for the Puritans was NY Harbor, on their way to promised lands in Virginia and Pennsylvania. The landed at Plymouth rock because they ran out of beer. The land was free, they stayed, started making lots of babies, lusty people that they were, and rest is history. The families of the Mayflower today are among the very rich.

Jews who ran from the pograms of eastern Europe and Russia, came here seeking not only religious freedom but freedom to make a living, to gain wealth. And so on and on for every group that arrived. Some succeeded some didn't. Look at the Irish who fled famine and political oppression. Many found a living, and future generations found the wealth of the middle class, something that eluded the starving Irish under the hands of the English oppressors.

The ancient Norse who travelled here sought new fertile lands. Columbus was seeking a quicker route to the spices (wealth) of the east, and the Conquistadors who followed sought gold. The vision for European immigrants of America was wealth, as it was for Asians and all others who followed.

You obviously assume that other objectives excluded the desire for wealth. Nothing could be further from the truth. Not even for those who suffered and fled the depredations of Europe's endless wars and the suffering thereof because their ethnic groups had beens scapegoated. Wealth meant a future for subsequent generations and for most it proved out. Our poorest still live better than the nobility of Europe did during most of European history. Some don't, but the onus of failure is their own. Whether by drugs, alcohol, stupidity, laziness, luck of the draw, whatever, but the hope of their progenitors was always wealth and all that wealth carried with it.

Look in the mirror, you're fat, sassy, own a computer and have time for wasting on the net. A luxury not even imagined by those who came before you. Likely you own a car, have a warm place to sleep nights that isn't a pigsty, and can buy multiple sets of underwear. You have access to healthcare. That is wealth at work. Not mega wealth, but rich in the eyes of your ancestors.

Thanks, I love a good history lesson!

Roseann:)
 
People like me? I have given no opinion on other high paying professions.

CEO's are not special. They are also the ones most responsible for the failure of corporations. And their failures hurt the lowest level employees, while the failed CEO most often walks away with more compensation for failure than your lowest wage earner makes in a lifetime. Just give me one example of a poor suffering CEO who paid for their failure and maybe I will try to squeeze out a little sympathy. That other professions are overpaid is irrelevant. If an athlete/singer/movie star fails it doesn't cause massive job losses and they don't get government bailouts.

CEOs are quite special and only a handful of them are qualified and capable of managing a big corporation.

Unless there is gross malfeasance, the CEO leaves with what he is contractually/legally entitled. And yes it is exactly because so much is riding on the experience, expertise, ability, creativity, etc. of the CEO that they command all that money. More CEO's succeed than fail, but some do fail just as some entertainers just don't catch on with big audiences, some players and/or coaches with sports teams for which there were high expectations don't meet those expectations, etc. They still get paid for the contract period they were guaranteed. When NBC fired Meghan Kelly halfway through her current contract, she will still receive all the $69 million she contracted for. That happens fairly frequently among public school and university administrators and coaches and elsewhere in the public and private sectors.

As for employees who lose their jobs when a big corporation goes belly up, it is possible they could lose a paycheck but the vast majority walk away with the money they earned and go looking for a new job. They don't lose anything else. It's always tough to lose a job you need, but millions upon millions of us have been in that position. Nobody guaranteed them a lifetime job and if they chose to work for a failing organization, that's just the way the mop flops sometimes.
 
Of those who came here by choice, most everyone. Inclusive of those seeking religious freedom, political freedom, and so forth. The Puritans came seeking land, for land in Europe meant wealth and power. Those with power could pray as they believed until someone with more wealth and power said no. The intended destination for the Puritans was NY Harbor, on their way to promised lands in Virginia and Pennsylvania. The landed at Plymouth rock because they ran out of beer. The land was free, they stayed, started making lots of babies, lusty people that they were, and rest is history. The families of the Mayflower today are among the very rich.

Jews who ran from the pograms of eastern Europe and Russia, came here seeking not only religious freedom but freedom to make a living, to gain wealth. And so on and on for every group that arrived. Some succeeded some didn't. Look at the Irish who fled famine and political oppression. Many found a living, and future generations found the wealth of the middle class, something that eluded the starving Irish under the hands of the English oppressors.

The ancient Norse who travelled here sought new fertile lands. Columbus was seeking a quicker route to the spices (wealth) of the east, and the Conquistadors who followed sought gold. The vision for European immigrants of America was wealth, as it was for Asians and all others who followed.

You obviously assume that other objectives excluded the desire for wealth. Nothing could be further from the truth. Not even for those who suffered and fled the depredations of Europe's endless wars and the suffering thereof because their ethnic groups had beens scapegoated. Wealth meant a future for subsequent generations and for most it proved out. Our poorest still live better than the nobility of Europe did during most of European history. Some don't, but the onus of failure is their own. Whether by drugs, alcohol, stupidity, laziness, luck of the draw, whatever, but the hope of their progenitors was always wealth and all that wealth carried with it.

Look in the mirror, you're fat, sassy, own a computer and have time for wasting on the net. A luxury not even imagined by those who came before you. Likely you own a car, have a warm place to sleep nights that isn't a pigsty, and can buy multiple sets of underwear. You have access to healthcare. That is wealth at work. Not mega wealth, but rich in the eyes of your ancestors.

This was an excellent commentary. I would say that 99.9% of all those who have come to America did so in the hope of being able to prosper here. The other .1% came expecting a better situation or a happier situation than what they left. And those who have come have prospered.

I would note that the fact is that most--not all but most--of America's poor are unimaginably rich compared to the poorest of the poor in many countries.

The most amazing thing about America is there are no boundaries of what a person is able to achieve if he/she is has instincts to prepare, the work ethic, and the ability. Those who express envy and resentment of the very great prosperity of some when compared to others are dismissing the reality that the only real limits on any of us are in the choices that we make.
 
What is the (politically?) correct ratio of CEO pay to their average employee's pay? Why do you think that is not currently part of US labor law? Does it make sense that a college football coach makes many times the salary of the POTUS?

Wow! I had to look up College Coaches salaries since I had no clue what they made and I was very surprised!

Roseann:)
 
Wow! I had to look up College Coaches salaries since I had no clue what they made and I was very surprised!

Roseann:)

I included that rather bizarre fact simply to point out that comparing two jobs' (positions'?) salaries is an odd way to look at the matter. The broader point was whether: A) one could define the "correct" relationship between the salary of two very different jobs and B) there is any sound basis for making that relationship "fair".

Obviously, if the premise that CEO pay at 150X that given to a shelf stocker is "too much" then there must be some level at which the ratio is "too little" or "just right".
 
In a publicly held corporation the CEO's salary is the general public's business

Nope. The stockholders, otherwise known as the owners, get to make that choice.

Publicly held does not mean the general public runs the company.
 
Nope. The stockholders, otherwise known as the owners, get to make that choice.

Publicly held does not mean the general public runs the company.

Bingo! Nailed it! Way to simply explain how corporations work. Probably won't sink in for our loony, ever leftist friends.
 
yes they do in a LOT of companies

ours was a 100 million + in sales....and the CEO did exactly those things and many many more

so are you talking ONLY about the elite 50 conglomerates in the world....or CEO's in general of good sized companies

because the two dont square up much.....

One of the major skill sets required of any CEO is the ability to hire the best 2nd tier executives to make those decisions.
 
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