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How Much More Is Your CEO Making Than You?
Three years after Congress first told the SEC that it required public companies to uncloak the details of their CEO compensation relative to his lowly employees; the ever-ready SEC has yet to implement any rules. However, in an effort to ease the tough job that the SEC has, Bloomberg has calculated ratios for the Top 250 companies in the S&P 500, based on industry-specific averages for pay and benefits for the rank-and-file (since companies don't disclose median worker pay). The table below, of the top 50 companies (meaning highest CEO pay relative to workers), suggests it remains good to be king (and Ron Johnson just made another #1 Spot earning an estimated 1,795x the average JCP employee - money well spent...).
Source: Bloomberg
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Could someone show # of employees vs pay ratio?
I'm betting there is a nice correlation there... $1
doesn't matter because in a failed meritocracy where so many still cling to the false notion that this ratio is somehow based on the merit of said CEO, this data is irrelevant. If however,people wake up to the fact that these ratios have nothing whatsoever to do with merit, then it's game on. until then, yawn.
The whole thing is a big club. These guys go to Ivy League schools and get to know each other, then hire each other as they move from company to company, board to board, etc. And of course they grease the politicians to pass laws that make it virtually impossible for shareholders to do anything about it or claw it back when they fail miserably. Sadly, like all rigged systems, the only fix is going to be a major implosion.
and that's why the <idea>a of a meritocracy and its <practice> offer two entirely different results. the idea being the smartest and most capable rise no matter their background but in practice this is NEVER the case and the failed American meritocracy is the GOLD STAR in how not to run a meritocracy. Sadly the human condition of individual greed will always win over any "team" concept and you end up the Various States of Detroitification. <sound of air leaving balloon>
Now instead of penis envy, we'll start seeing pay differential envy among the top Fortune 500 company CEO's.
I think that is already happening
Who knew it is profitable to be named Leslie?
Who the fuck downvoted this? By the way, LetThemEatRand is a great username.
I'd like to see a list of how much graft the politicians are getting.
It would sicken your heart - any you might never recover.
remind me again why they are richer than me
Fuck you! (that's why)
BECAUSE IM RICHER THAN YOU, thats why.
No wonder J.C. Penny is broke. Fuckin' jerk off that sits around fapping all day gets paid 53 million a year.
http://www.youtube.com/watch?v=fyklt01lN_I
From Martin's blog
How to be sucessful...Promiss everything, deliver nothing.
A metric that I find more useful is what I call yield. That is the percentage increase in salary each employee would receive if you fired the CEO and redistributed their salary. I have computed that for the top 10 companies. For example, without a CEO, an employee at Oracle could potentially make 1.09% more. Using this metric, you can quickly see how much a CEO is costing each employee.
Awesome, thanks for that! It would also be useful to see what change in EPS would have been effected from excluding CEO salary.
Of course, we must remember this analysis ignores the net value destruction wrought in most cases by these CEOs, such as boneheaded acquisitions, and thus understates its case.
Very interesting. The "yield" in some of those companies is better than the bonds AAPL is selling.
Oh Lord I can pick a bale of cotton
Oh Lord I can pick a bale a day...
old man river......
, called the Mississippi.
https://www.youtube.com/watch?v=eh9WayN7R-s
I keep waiting for them to do something like this for pro sports teams - athletes vs. the back office folks.
Or maybe Hollywood actors vs. the staffers behind the cameras.
It probably wouldn't fit with the anti-business rhetoric though...
How about ratio of toilet flushes in the NY FED building vs number of dollars Bernanke has printed.
All too often, CEO pay is analagous to athlete's guaranteed contracts. As a former CFO, I have no issue with paying "for performance", which is why I've always advocated for no ceiling on the compensation of my sales staff. I think more executives should have a respectable salary with the significant portion of their comp tied to the bottom-line performance of the company (i.e., 2/3rds), via some metric appropriate to their industry. As for whether the executive staff deserves more compensation than the "average" employee, that is without question. It's a mistake thinking otherwise.
As for whether the executive staff deserves more compensation than the "average" employee, that is without question. It's a mistake thinking otherwise.
Agreed, but there is a range of 'golden mean' that makes such ridiculous payments as some CEOs get apparently outrageous.
The Europeans, Japanese, Chinese, Indian, Australian, New Zealand and Canadian successful corporations do not have such ridiculous ratios of compensation and they do just fine. So why is it a requirement for a successful corporation in the US?
Henry Ford abserved a long time ago that if you pay workers well then you grow your business more as they buy your products. The consumer market cannot grow if all the wealth is going to the top 1% and the 90% who labor are told to make do with what they already make.
I agree with the Henry Ford concept within a limitation, that being there needs to be differentiation between those that could be C_O and those whose could not be (because they have neither the technical nor business skills/experience to function in that capacity). You're not going to find that the stereotypical factory worker could take Mulally's place without negatively impacting the business performance. But like I said, I would prefer to see a CEO earn $10M comp in a given year as a result of a $2.5M salary and $7.5M bonus/equity tied to the bottom line performance of a company, since that should also translate into increased share price to benefit all shareholders. That alignment is VERY important. More often than not, CEO's are given a particular-sized annual equity award to get their total comp into what the "crony" Board (Comp Committee) feels is a "market" range for their comp package. That's merely a case of "friendlies" having one another's back. That's why the pay is generallly objected to by those outside the executive group. But, corporate America isn't the only place with this issue. Hollywood and pro athletes also deserve similar scrutiny, although people tend to feel more sympathetic to them because of their celebrity.
Outsource CEO jobs,not workers.
How about ten or even twenty times the average salary? That way, they have an incentive to raise the average salary of their employees. It brings team into the concept.
I think it would also work well for congress and the president. The numbers would be a bit different though. Two times the average American salary for the congress and three for the president. They would start working for their constituents at that point and not for their hand greasers(assuming you got rid of the grease)
I keep waiting for them to do something like this for pro sports teams - athletes vs. the back office folks.
Or maybe Hollywood actors vs. the staffers behind the cameras.
False analogy. The entertainment industry is entirely dependent on star power to succede otherwise the owners wouldnt pay them jack. And as far as it goes, cameramen and office folks for pro-sports teams usually make some pretty good money.
But in industries where a product is manufactured or a service provided, the CEO is not the equivalent of a Hollyweird star or an NFL quarterback, far from it. They are merely the best ass kissers who got the gold ring and they still get their golden parachutes whether their companies make a lot of profit or not.
You mean like Steve Jobs.....or Bill Gates? Yeah, they must have kissed A LOT of Board ass to get what they did in their companies. But Kim Kardashian has earned all she is due. Talk about someone that hasn't the first fucking concept about what is involved with running a company. When I was a CFO, I lived with the job 24/7 and couldn't even take a family vacation without staying connected and being reachable whenever shit was happening and wherever I was. Yeah, but keep paying those star athletes and movie stars because they all deserve it so much more than someone like me.
Wall Street stays out of this as the spead their ill-gotten gains across the top bracket.
Welcome to the serfice economy.
You wanna supersize that loan, sir?
McLoan?
Where is the CEO of McDonalds on the list? Does he get paid in McRibs or Shamrock Shakes or something?
If he were paid in McDonalds' food, he would have been poisoned a long time ago.
..'A Utah man says he's hung on to a McDonald's hamburger for 14 years, but even stranger than that --the burger looks almost new."
part of the executive compensation is an embalming service.
I saw the photo, and "almost new" does not describe it at all. It looks pretty nasty. Why do people fail to understand that grease and salt act as preservatives? You could cook up your own hamburger and set it someplace for 14 years and it would look the same way. I've seen gingerbread houses that were 10 years old that look the same as the day they were put together. It's not newsworthy.
Words are strange things. When you eat a chicken its called poultry, cows are beef, lamb is mutton, duck is fowl, pig is pork and horse is called McDonalds.
Then how does Moochelle chomp down so may McRibs?
Here is how you can do it:
http://www.youtube.com/watch?v=TOOhBeewUOE
Sucks to be a PT sales clerk, or a barista.
(/notsarc)
I'm glad I work for the gummint now. At least I know that my boss' pay is just as frozen as mine, and that our munificent elected officials have similarly low pay and are prevented from legally skimming any off the top.
(/sarc)
"I'm glad I work for the gummint now". Not if you're expecting a pension based on taxing your neighbors.
ps. haven't worn my caulked boots for 10 years, thank God.
Living large on the backs of those who are probably stronger better, and more straight than the lying cunts ripping them off.
Make no bones, the big or pig men at the top of these large firms couldnt give a fuck about the man at the bottom of his firm as long as he gets his.
We have long passed the rubicon of extreme greed and personal welfare, just for the rich mind, we are long overdue for these fuckers to be brought back down to earth. Lets make these cunts know what its like to work for a living, and by that I mean real fucking work, not just ripping the company or his work mates off.
Tick fucking tock kids.
I'm telling you... 1870s America is where we're headed: Robber Barons, child labor, etc. Start working out now, so you'll be strong enough to do the back-breaking labor.
Hehehehe edifice,
I own my own firm mate, and I am more than fair with my lads, but then I have no aspirations to be a rich bloke, I never have and I enjoy the work I do along side them.
These fucking parasites though? I would break each and every one of their necks, with a smile on my face.
I hate people being ripped off and paid shit, while these fuckers skim the fuck out the firms they work for, get people in to tell them they deserve more money, fucking hell look at hostess? Ruin a company and get a 200% + bonus for it? And a massive pension for life? And we wonder why we are fucked?
I rest my case.
Could you come to the US and run for President?
We can fake you a good birth certificate.
Cheers jim,
But sorry mate, these daft cunts over here need sorting out first.
I might be able to fit you in at the weekend though. These idiiots make in-breds look smart, so it may take some time.
Got my vote. My graphics department can work that cert. Fucking amatuers did Obamas.
this is what happens when everything is TOO fucking big. decentralization of everything is the only answer. companies too big, governments too big, too much central control over every damn thing...
Watch out folks.
We have a phantom down voter who is either a CEO or someone who dont like swear words.
Anyhoo, fucker cant speak his mind and resorts to drive by down voting. Speak up Mr CEO, I would like nowt better than to tear you a new arsehole.
Speak your minds bitchez, even if we dont agree.
+1 from me. Always enjoy the rants. Spot on as always. Clearly we are heading into the event horizon. There won't be as much as a blink. Just a bunch of us screaming all the way in. lol. Sucks that it has to be this way. I could care less about myself at this point... bring the pain. I worry for my kids.
Centerline,
I may come across as a fucking lunatic but I aint in real life. And for the record I agree with most things you post. I dont rant mate, I just point out with profanities how daft this world has become.
I find, and it works, that people respond to anger, whether typed, or expressed from the mouth.
Cheers anyhow mate, and keep on, keeping on. And as the father of two kids, I worry myself. We will be OK though mate, there is plenty good guys left in this world.
No offense intended in calling anything a rant. Used the word in a sincere manner lacking anything better to call it at the moment (my writing skills suck - am a technical person). Your posts sound about as sane as it gets.
If you ever see anything I say that does not seem to add up, say something. Feel free to poke me in the eye. I am here to learn as much as I am to stay alert and offer what I can to the mix.
Have family over in Blackheath and worry about them as well.
edit: my wife says that I love to "rant." So, I suppose I use the term rather loosely and with a sense of pride!
I didnt take that in offence centerline.
I am used to a laugh, I can only put down what I see as a world falling apart. And yes mate, we have big problems here, no bigger than yours though. Dont worry too much mate, there is still a lot of good folk out there who will do what needs to be done when the time arrives, take care of yourself and your kids mate, its all we can do and be rest assured friend, you are not alone.
There really is some good and genuine people our there. You are one of them.
Inthemix. If we can mate, we will. Its the way of life.
forgot to mention... I am fluent in two languages, english and profanity! Rock on with the posts.
I am not to bad meself mate in them tongues.
To be fair I am fucking mint at taking the piss with swear words.
If you know what I mean. :-)
Dude you dont come across as a lunatic, not at all.
But I do.....
Defining sanity these days seems to be a real challenge. lol.
Personally,I believe in free enterprise...and I'm not the envious or jealous sort....someone thinks that they are worth it...not my business
'Personally,I believe in free enterprise.'
When it's here would you let me know?
Every major bank or corporation is in the top 3 or 5 in their business. Buffet or GE wouldn't even look at buying a company that wasn't dominant.
Why did Buffet buy BNSF ? No competition.
Free enterprise is a text book concept to entice the great unwashed into thinking they have a chance in a rigged game run by Big Money and Big Government.
'Big Money and Big Government' are never at the heart of free enterprise, they only hijack and destroy.
Dancer
thanks you make my point better than I could;
doesn't matter because in a failed meritocracy where so many still cling to the false notion that this ratio is somehow based on the merit of said CEO
/ You know what, you are soooo right! These lords do indeed "deserve" everything they got, just like we do.
After all, if they make 1000x more, in a merit-based society (not entitlement-based society) that must mean that they are soooo much more productive, given that...
1. They work 1000 x 10 hrs per day (10,000 hrs/day)
2. They must have a brain that is 1000x bigger, faster or smarter
3. Have communication links and speed ('bandwidth') 1000x faster
4. Are 1000x stronger and faster in Operations/Mfg
5. Have invested/spent 1000x more time at University, and written 1000 grad-school thesises
6. Have 1000x bigger student loans
7. Have created 1000x more business models from scratch
8. Their Motivational, PR or Shareholder speeches are 1000x better
9. Have NOT convinced at least 1000 others to work for them, so that they won't have to -- but will still take their share of daily wages.
10. Have NOT borrowed 1000x more (money from thin-air) from banks than avg worker. So that they could "build" or "buy" the company.
We do live in a merit-based society, not an entitlement-based society, right? Or do these terms apply only to the 'employees' (workers/peasants)? And when the ex-employees get money from the rest, it's called "welfare", but when the bosses get money from the rest it's called "incentives" -- because they are sure to do everything 1000x better, faster, smarter, stronger.
Silly me! We the SSS (Stockholm Syndrome Serfs) do deserve everything we get. /sarc
Dancer friend, not only is fiat-money The wealth-Ponzi, but LoP (Laws of Physics) is right when he says that "Humans are The Ponzi". Indeed they are: "Humans are The Ponzi of Power".
Kirk out.
Personally,I believe in free enterprise...and I'm not the envious or jealous sort....someone thinks that they are worth it...not my business
Huge presumptions.
1) Pointing out excessive compensation has nothing to do with jealousy; just plain old right and wrong.
2) If you believe in free enterprize then I guess you are all for letting the Wall Street Banks collapse as they should or dropping all the tarriffs placed on foreign manufactured products, or allowing any US person to go over seas and buy whatever the hell they want without having to pay duties for it when they bring it back to the states, you know, like the corporations do when they go overseas to get H1-B visa applicants to come over here and work for spit and displace native US engineers. Nah, didnt think you really did.
3) Just because a board agrees to pay a CEO an astronomical salary doesnt mean they actually think he is worth it in terms of what is good for the company. They more than likely think it is good for them personally and their careers in the company if they kiss the CEO's ass and give him every godam thing he asks for. That is why stock holders should attend board meetings and throw out the sychophants who agree to pay these CEOs their weight in gold.
Multiply by at least 10 for apparel if you consider the average wage of the sweatshop slave in India and China.
Lists like this sometimes makes me wonder whether we would all benefit if companies were run like cooperatives, remuneration reflecting what you put into it, instead of hierarchy. I know - I expect a torrent of "commie" remarks.
There is no law forcing firms to have a CEO or at least, pay them the wage they earn. They could care less about "hierarchy". They don't make choice as to generate an image that fits preconceived notions...
Rewarding mediocrity, FTMFW...
I heard at one time that the tradition in Japan is (or used to be) for the CEO to make no more than X times the lowest paid worker, but I cannot recall that multiplier just now. It was much lower than the chart of above. But then, the Japanese CEO's are actually part of the society they run, not a tribe of outsiders with foreign allegiances.
My CEO? The average american asks. I gotta have a job first!
**edit
/ZINGER!
Obviously it is not a meritocracy.
It is the method for recruiting into and maintaining a close group of self-centered power hungry egocrats into a cohesive mutual admiration society. They each tell each other how important and worthwhile they are. They create a group of independent consultants that are paid to tell them they should be paid more money. Once accepted into the group all they have to do is surrender their free will and a group of paid consultants will create cover for them to steal money from the company and shareholders by creating a set of ludicrus standards for what executives of their (choke, choke) superior caliber must be paid.
... and viola it self propagates the theft from employees and shareholders.
but you are NOT describing the "american dream" but instead the "american reality".
About 10x, just in base wages, not counting fringe benefits (I work for a "non-profit").
Well, in Texas, people said to heck with Penney's when they ran the gay ads. Which makes me think Irish Poem!!!
Penney's Makes No Cents
When Johnson designed the sales promos,
He decided to cater to homos.
So here comes the ads,
With the kid with two dads,
It's like watching a train wreck in slo-mo's.
Squeeky Fromm, Girl Reporter
Oh, and here's another Irish Poem, which is kind of naughty:
Gay Puree
The Penney's Board cried "Oh, Alas!"
For embracing the Gay crap en masse'
But it's Karma, you know
And quite apropos' . . .
That stockholders got fucked in the ass.
Squeeky Fromm, Girl Reporter
Don't stop there:
No politician's family wealth should be more than 100 times the poverty level.
No actors salary should be more than 100 times the ticket price.
No ballplayers salary should be more than 100 times Tue price of the cheapest ticket.
Lets see... Actors salary vs ticket price?
Ticket price= 12 bucks
12X100=1200
Ww that kinda sucks
D you mean broadway and shit?
Actually, that's not far off the Screen Actors Guild union minimum wage. In fact, for small budget films, it's lower. The only actors that make "press worthy" salaries are the actors who's name can get a film financed. Harrison Ford, Tom Cruise, Brad Pitt, etc etc etc.
Most actors, even steady working ones, make just a living. No private jets, no mansions. Just working stiffs.
Check out a documentary called "The Guy Who Was In That Thing". Lots of steady working actors telling the real story of what it's like. It's very interesting.
That would be like...ethical and moral for people and corporations to limit themselves and not be greedy.
Unfortunately, the modern continent of Sodom and Gomorrah looks at individual morals and ethics as quaint - if not foolish.
"No politicians" Okay, stop there.
That price fixing was a fucking great idea, Diocletian!
OBSCENE
Unfortunately, there is no free market when it comes to setting CEO compensation because of collusion among all of the participants (BODs, CEOs, "indpendent" compensation experts, etc.). In contrast, the average worker (and every employee below the top tier for that matter), does not get to set his or her own pay so it is determined by "market forces".
i make a bit less than my highest paid employee, i have to do work at night, weekends, etc.
i am the most fucked.
i am a small business owner.
Yes. And once they're done with the CEOs, you're next on their hit list buddy because while you work 80hrs a week, these people flip burgers and mop floors and have 200,000$ student debt for a worthless degree and they'll be pissed at the "income disparity" between them and you!
And when business is bad, you are the last to get paid and often times have to dig into your own pocket to pay others.
I feel ya man. Been there, done that, got the blood stained t-shirt.
That's the true state of small business.
And the backbone of society.
these days it sucks to be a small business owner. it was fun till 2006 in my case. it has been a torture since then and things are getting worse as days go by.
i have a few friends who are high ranking managers in large companies. they are doing fine. it's me whose ship is sinking.
*YOU* are the kind of businessman that makes this country work. You guys put out most of the product, most of the services and hire most of the workers in this country.
Please grok this concept; you are the kind of guy the top CEOs want to put out of business then hire you to work in their megashit warehouse stores or sweatshops as a manager and make money for them.
THE TOP CEOS DO NOT THINNK OF YOU AS ONE OF THEM!!! To them you are enemy number one!
i sometimes feel like giving up. i haven't had a raise in 5 years, nor a vacation since a triple bypass in 2009. i keep shaving cost and holding on. business has been off since 2008, and just remains steady, in the meantime, healthcare, energy, supplies go up,up,up.
sometimes i read the old saw about going broke slowly, then all at once and have a mini-panic attack, as it is my business owns me, and if not for my "employees", and a glimmer of hope that things will change, i would have said fuck this and retired to a 40 ft sailboat 4 years ago.
i'm hard working, educated, academy veteran officer, eagle boy scout. who knew all of these things would be counted against you in the new world we inhabit.
character, honor, integrity-------bet none of those mega-ceos have any.
I hear you. while you were defending the country and/or working to make it prosper, the nation redefined itself in ways you probably couldnt have imagined.
It's time to reform our ruling oligarchy. Not to throw all of them out, but to cull that herd, recondition those worth the time and put the rest out to pasture.
Maybe in God's pasture.
#50 ford wtf? (both figures)
And another thing...
Why would I want to be a shareholder in any of these companies when they waste my money on these Hyenas?
Most of their jobs could be done and probably done better by a Chimpanzee in a suit with a good Secretary and trainer.
You know, a lot of these companies like to insource and outsource cheap foreign labor, so why can't they do the same with executive positions?
What they teach you at Ha'va'd and MIT in their Business and Economics Schools -- should you be sma't and special enough, and actually chosen:
The ratio, economics and politics of Executive Pay is similar to that for the economics of Foreign Aid. The Foreign Aid for any country ("iCountry") is given by equation [1]:
[1] I Own You = IOU = (I-U)/U -1
Where: I = iExec (iCountry), U = Uworker (USA) = You the taxpayer (i.e. those actually paying Federal taxes from paychecks not issued by the US Treasury!)
As U gets smaller and smaller, the ratio is dominated by I, and the IOU goes up. I Own You!
Conversely, as U gets larger and larger, the ratio is dominated by U, I becomes neglibible, and U/U - 1 = 0. IOU goes to zero, and I do not own you.
Bottom line: If there is no Foreign Aid from Washington or Foreign Influence/Domination in Washington, I do not own you. If there is, I do own you.
America is a corrupt oligarchy, and Americans are serfs, so nothing will ever be done about it except for the system to collapse.
And it's not political, by the way. Both major parties are owned by the banks and corporations.
Part of the reason they make so much is because we allow them to. When was the last time you heard an American say "I don't need to buy that, I'm trying to save money." "I think the stock market is a rigged casino, and I'm staying away from it"
Have any of you heard that?
All I ever heard was, "dude, you get 4% matching on your 401k!"
When was the last time you heard an American say "I don't need to buy that, I'm trying to save money." "I think the stock market is a rigged casino, and I'm staying away from it"
Have any of you heard that?
Yeah, between me and my few friends that can keep up with the subject.
The rest dont give a shit because they trust the PTB to be fair with them. If the implosion does come, the PTB are going to get the shit kicked out of them because Bubba isnt as weak as he is dumb and once he gets pissed, he will break things. Lots of things.
"I don't need to buy that, I'm trying to save money." "I think the stock market is a rigged casino, and I'm staying away from it"
I hear it a lot these days, actually. A few people are understanding it. But, still, no matter how corrupt the MSM, government, schools, etc. become, they are still the only game in town and people will keep playing the game despite their grumbling.
Love how it's average salary vs total comp. It's not total comp vs total comp. Or total employment cost (including all those wonderful safety nets like SS, health insurance, 401k match, bonuses, withholding taxes, discrimination suits, liability insurance, and OSHA fulfillments).
[Insert antiquated jacobin/socialist epigramhere].
"My garbage disposal eats better than 98% of the world"
And you garbage disposal contributes more value than 98% of the world...due to better nutrition, of course...
Only 50 people we have to arrest and then re-distribute their wealth to restore America to competitive free markets. That shouldn't be too difficult.
while the Adam Smith in me recoils at your suggestion, there is a certain anarchic element within that delights at the very thought. Oh Happy Day.
Holy shit! My CEO is only making 170ish times more. We need to give our man a 10 fold raise.
Crap! 10 years ago, I worked for a CA tech startup, where I had a 6-figure salary and our CEO (the Taiwanese-American who started the company) only made 3x.
MFer 'Commie'! He should have paid himself 100-1000x more! And he should not have gifted me 1/2 the down-payment on the house -- that doubled in market price the next few years. And I wasn't even in his Clan/Tribe. MFer!
/s
Why is there all this fuss about CEOs when they at least need to think about what they do. Sports players, musicians, and actors don't do anything productive and can make just as much.
Scientists and engineers who actually make the products get little more than average pay, which in modern terms means being unable to support a family. The man at the top, who did little more than spend 5 minutes each week thinking up 'high-level' decisions gets all the dough.
I really don't have any issues with CEO's making outrageous salaries and bonuses - in a 'normal' market, that is. Such payments 'should' reward success. If the company is not successful, and still pays such compensation, the stock should get hit and the investors will take action. However, in a 'rigged casino market', companies can make mistakes, they can overpay their execs, and the flood of free money from the Fed will STILL cause the stock price to rise.
'Such payments 'should' reward success'
Not likely that a company will succeed if the CEO is the only person who is successful, and everyone else is a failure. Therein lies the rub.
Fuck, I can't even count that damn high.
I see the same pattern here though, at a fortune 50 <ahem that sells life insurance>. It's a goddamn welfare state in the micro. Womyn and "men of distinction" are promoted. Technical decisions are discussed at near endless, emotion filled lengths and finally sent to the "cloud" which recently replaced "offshore" but mean the same thing. Dithering, delays and sub par applications.
There's no contribution to velocity here, we're coasting along on the gains of men who were before us. Men who were unhindered by the effinization and PC dead weight movements.
If the founder of this company came back today, the company he built from the fucking ground up in the 30's, he'd have a shit conniption and a fucking embolism all at the same time. It would look like they decided to refilm Scanners, his melon would just plain explode.
Politics=Increased overhead=deadweight=economic collapse=rebirth... Cycle of life. Just a matter of time.
Understand the issue and the sentiment, but want to understand the fix. Who should decide what the right pay level is and how will they determine what is the "correct" amount?
If Shalom Buttfuck wasn't printing fraud money for incorporated racketeering, CEO pay would not be a talking point.
Fascism in plain sight
OMG - what a bunch of whiners. If you don't like what you're getting paid, get a better job. If you think the CEO is getting paid too much, buy the company (or at least a controlling share) and reduce his comp, stop shopping there, quit if you're the underpaid schmuck at the bottom of the ladder. Better yet, get the job of CEO and voluntarily reduce the pay as an example.
Why should the general public, or even the other employees, have any say in how a private company is being run?
"Why should the general public, or even the other employees, have any say in how a private company is being run?"
Sadly, because the majority are redistributionists / collectivists.
And let the hail of comments begin -- calling all corporations evil since they all are fraudently benefiting from government largesse/corruption in some way -- when the reality is the vast majority of corporations have virtually no control or input to how the system is designed - they are just figuring out how to best play the cards that have been dealt and shockingly some figure out how to make some real money.
What's even more inflammatory is the CEO pay( and practices) for so-called charities, for example:
Goodwill CEO makes over 2 million a year plus pays disabled persons under minimum wage using a special exemption law: http://www.huffingtonpost.com/john-hrabe/the-worst-corporation-in-_b_187...
The American Red Cross, Gail J. McGovern, earned $467,252 in 2008 plus expenses: http://money.cnn.com/2009/09/29/news/companies/nonprofit_salary/index.ht...
President and CEO of the U.S. Fund for UNICEF, Caryl Stern earns $454,855.00: http://www.unicefusa.org/about/faq/ceo-salary.html
To name a few...
It's a big club and you ain't in it!: http://www.youtube.com/watch?v=4nyx-z5cods
Disgrace,....this is what happen when humans have their balls cut off and fed to them.