Damn criminals!!! Ought to string them boys up. Them brownies are bringin down the good ol US of A. I'm with Pattersb aint' nottin wrong with haten as long as ya be haten the right people.
You're exactly right. There's much over compensation at the CEO level but doodoo's article gives ZERO info on median comp ect. Also the multiple comparisons between CEO pay and workers at other companies is meaningless. IOW, Larry Ellison may be paid 500 times what the typical American is but is he paid 500 times the rate of the average ORCL employee? Doubtful. Also I found this line interesting, "That ratio surged in the 1990s and hit 300 at the end of the recovery in 2000, according to EPI."
Actually I don't disagree with your post (except that I am a statistical retard of course ) but just because you personally don't have access to the underlying data used in the research and disagree with its results does not mean that it is skewed. Even if it was skewed there is no reason to think that it's skewed against the CEOs and not in their favor. Who knows maybe the actual number is 500 and not 265. The report was conducted by a well-known reputable organization which has experience in these kinds of surveys and understands "1, 2, and 3 sigma dispersions" as well as you do or even better, the findings of the reseach have not been disputed by any other reputable organization (besides Burkakus and Co), moreover the outcome of the research is absolutely in line with the data collected and the trends existing during the last 30-50 years. Alltogether these factors prove beyond reasonable doubt that the report is fairly accurate. PS The report compares the compensations of an average CEO and an average worker (if that's not apples to apples I can't imagine what is). Not all workers make $42K either, a few high-paid oracle employees can skew the statistics just as much as a few high paid Oracle CEOs.
It's a long term trend indeed, the difference is that in the 90s workers were getting 5% raises, CEOs were getting 50% raises and everyone was happy, now the CEOs keep getting 50% raises while everyone else is getting a paycut.
The average full time American worker makes $42,000 a year. That's exactly $20 per hour. Pretty good pay. My neighbor installs rain gutters. He makes 70-80k a year. He makes a tad MORE than the broker at UBS who lives across the street. I pay my Peruvian maid $50 cash for 3-4 hours work, (I have no idea if she's legal or not, or if she pays taxes or not) and she's so in demand she frequently cancels because she's too overworked. A close friend has a retail shop in suburban Chicago where it's hard to find cheap help. He pay's $11-13 an hour for counter people and the business is going broke.I see little correlation between Federally mandated MW levels and actual pay.
That's because the current MW is a joke, for all intents and purposes it does not exist, it made sense when it was introduced and did represent a living wage at that time but it has lost half of its value to inflation since the last time it was increased more than 10 years ago. You conservatives are funny, you claim that governments can't do anything right and then use failures of this republican administration and this republican congress to prove your point, you make sure that the government is powerless and then complain when it can't help you in your dispute with Refco or Etrade, you destroy the concept of the minimum wage and then claim that it does not affect the actual pay.
I have also seen the CEO give an employee a raise and then have to turn right around and stop drawing pay for several months just to keep the company afloat. I have no issue with a CEO, especially one who started a company form scratch, making money. Even if it is 100 - 200 times the average. They took all the risk and put everything on the line. The average employee cannot say that. Keep in mind, there is only 1 CEO and potentially tens of thousands of employees. That CEO gets a piece of the overhead he charges for each and every employee. When you see a company that employs a hundred thousand people, those dollars of overhead he charges for his workers efforts can add up real fast. Also, no one is forcing a person to work for a company where the CEO is making 300 times the average workers salary. If you are unhappy then get another job, or better yet, start a company as the CEO and if you and your product is in demand make your money. Otherwise shut up and stop your damned bitching. People in general today have a mindset that they are entitled to whatever they want and the whinersâ and politicians have only fed that mentality. That attitude will bring down the USA.
The job of a CEO has nothing to do with who started the company. People who do start profitable companies are compensated with a share of profits or company stock if that company goes public. CEO is just a job managing the business, don't confuse it with ownership. Yep, either that or demand better pay, better working conditions, benefits, work hours and other legal rights, do it by organizing in unions, electing politicians representing your interests etc. And by your own logic if CEOs are not happy they might as well get another job or move to another country like Paraguai where there is no minimum wage and no personal income tax. As they are grabbing a bigger and bigger share of the american pie most of the country will benefit with their departure.
And? We all know itâs safe. And itâs safe because his constituents are dishonorable and domestic enemies of our Constitution, and they cheer him on when he uses his office of public trust to misappropriate revenue from the federal treasury for purposes not authorized by the Constitution; and, uses his office of public trust to legislate and impose socialist concepts which his constituents adore but are contrary and forbidden by the intentions and beliefs under which our Constitution was adopted. One such concept being, that the unalienable right of people to be at liberty to contract among themselves would be protected by the Constitution, and not interfered with by folks in government who feel it is their duty to determine a contracting price for the sale of an individualâs labor. ââ¦the prices of products and services are established by supply and demand, not by the cost of production and cost of laborâ¦.â Really? And the cost of production and those involved in making services available simply evaporates into thin air and are not reflected in the purchasing price of goods and services. Your funny. I suppose you still believe that Canada or some other foreign nation such as Cuba is shouldering these costs for Americaâs businesses and industries. Oh, I know you had to say that to take a swipe at those evil CEOâs. Seems to me, even in socialist Cuba there is a CEO in charge by the name of . . . CASTRO. Wake up pal, someone has to do the thinking for those who are brain dead! What you should be worrying about is putting an end to income taxation so working people do not have their pay checks stolen from them by scum like Kennedy, who just loves to keep the poor poor through income taxation so he can then buy their votes! ââ¦..with all these blessings, what more is necessary to make us a happy and a prosperous people? Still one thing more, fellow-citizensâa wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement and shall not take from the mouth of labor the bread it has earned. This is the sum of good government, and this is necessary to close the circle of our felicitiesâ. Thomas Jefferson, First Inaugural Address Regards, JWK
Many time, if not for the majority of times, the person who starts a company is the owner adn CEO. For large public traded companies who have been in business for many yeears then there is a good chance that the CEO is not the person who founded the company. Just a a questions so please do not get offended about this. What is your age?