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Posted by: Progressive 10 months, 3 weeks ago

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Progressive10 months, 3 weeks ago

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Good article, Beau...thanks for the invite. This part has distressed me for some time:

"In 1980, executives at large companies made about 40 times what the average worker made. Last year, CEOs made about 360 times more than the average worker."

This ratio is unique to the U.S.

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  Beau789010 months, 3 weeks ago
  
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  Yeah, that bothers a lot of people. I liked this quote from the article too:
  
  "On the NYSE today, the average share is held for less than a year, as compared to about five years in 1960 and two years in 1990. What matters isn't what the companies are actually doing but the expectation that the shares can be unloaded to a "greater fool" at a higher price."
  
  But the idea of "market value" creating the opportunity for those in charge to make such ridiculously large sums of money (even though they don't own the companies, aren't in for the long run, and don't even necessarily perform well) is deeply entrenched. I liked that the writers pointed out how stakeholders see companies as personal ATMs, and that any value they might actually bring to the long-term health of their companies is ancillary to their main purpose, which is to extract as much value as quickly as possible from their companies.
  
  Just yesterday, I was having dinner with a good friend who was arguing that because outrageous CEO pay is in line with the "market" for them, he has no problem with them taking home those large sums. My argument was that there needs to be some pressure to bring that market in line with reality, and it shouldn't be so hard to attract talented heads of companies for far less than most get. And really--how many executives really deliver enough value to their companies to be worth $20 million or more a year?
  
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    Endoscopy10 months, 3 weeks ago
    
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    This article is the very left wing view of corporations. It is all about greed. there is a difference between greed and wanting to make money to pay for your expertise. What do Baseball, Basketball, football, etc players get. Their pay is based on what they can get out of the owners of the team based on how well they perform. Top level managers get bonuses and pay based on their previous handling of the company in keeping the company in good health, make a good profit, and expanding the company. Good ones get paid more than mediocre ones.
    
    If the salaries are capped the good people will find other jobs and that leaves a company in trouble getting mediocre people to lead it. Will liberals ever understand that people will do what it takes to EARN more money? Probably not. Then they will say it is all about greed.
    
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      cowboygrandpa10 months, 3 weeks ago
      
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      Endo:
      
      Sports professionals are overpaid as well.
      
      Your problem seems to be that you think money is all one should work for.
      None of the executives at the bailed out banks and other businesses did a good job.
      
      They are rewarding themselves for stealing from the tax payers.
      
      You seem to think you know all about businesses. Ever heard of long term planning, long term financial strength. Debt analysis, planned growth vs. irresponsible and unsustainable growth.
      
      These excutives have the reponsibility not only to the stock holders but also to the public at large. You are probably a profit taker and see nothing wrong with it.
      
      One thing when everybody is a profit taker there are no funds to reinvest with.
      Then we are left with worthless paper.
      
      It seems like you want the thieves at the top to continue stealing from the investors.
      
      You make a good point for controlling the salaries of the thieves. To me your concept of business is what is wrong in America today. Short term profit taking versus long term strength and profitability.
      
      You are part of the problem !!!!!!!!!! Not part of the solution.
      
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