Posted on 04/24/2020 7:00:08 AM PDT by CodeToad
DENVER (CBS4)– Top executives at Denver Health Medical Center received significant bonuses this month for their performance in 2019, ranging from $50,000 up to $230,000, one week after frontline hospital workers were asked to voluntarily take leave without pay or reduce their hours as the hospital dealt with the financial downturn resulting from the coronavirus pandemic.
(Excerpt) Read more at denver.cbslocal.com ...
As bad as it look the system is honoring a contract they made, and its likely it would be much more expensive to recruit talent to replace them than it is to pay the bonus—not to mention the fact anyone who would take the job knowing the organization breaks contracts would likely not be qualified or competent in the first place.
Yep
Did I wake up and FR became DU overnight? Didn’t think I’d see attacks on capitalism here or people advocating “for the workers” which seems like a plank right out of the Bernie campaign.
Totally tone deaf.
“Didn’t think I’d see attacks on capitalism here”
Capitalism isn’t about raping an organization of the money it needs to survive. That’s called corruption.
When executives, especially of a government organization like Denver Health, find they can pay themselves whatever they want and short the payroll budget to do so, that’s not capitalism, that’s swindling or grifting. We also call that embezzlement. Just because the board votes itself the money doesn’t mean it isn’t cooperative embezzlement when undeserved.
“its likely it would be much more expensive to recruit talent to replace them than it is to pay the bonus”
Actually not. I know many of the execs at Denver Health, and all it takes is to sign onto the grifting as an executive. Be one of the club.
There is no way you can explain that a senior manager or director making $140,000 one day is now worth $400,000 the next day with a simple promotion to the next level.
A successful business requires a synergy between management and labor. When the scales tip too far in one direction, either via excessive executive compensation at the expense of labor, or the flip side - labor (typically via a union) making unrealistic demands upon management, it is usually to the detriment of the business as a viable entity.
I've worked with LOTS of top execs in energy and tech and that was never my experience. The men and women always amazed me with their depth of knowledge of products, manufacturing, distribution, promotion, the competitive landscape, engineering, contract law.
crony capitalism strikes again....
I guess all I can say is that our experiences have varied. Most that I’ve personally encountered are fantastic with numbers and statistics, but couldn’t pour piss out of a boot if the instructions were on the heel.
there is a certain kind of person who gravitates in health care to management....because they stink at their beginning profession...
those that can, do....those that can't..teach.....or manage....
Great, now they can finally afford that $13 a Pint Ice Cream recommended by Nancy Pelosi.
My Dad hired a lot of PhDs in his aerospace career. He always said so many candidates “didn’t know which end of a hammer to pick up.” LOL.
Yes, I do understand that.
But I also know that socialism is not the answer because nothing changes for the elite.
Yes, but.......
Sauce for the goose is sauce for the gander. They also made a commitment to the other personnel. Ethically the pain should be shared.
Whether you agree with that or not, these people were idiots for not recognizing the public relations aspects of not sharing the pain. And morally, these executives should have made at least a token effort.
These people are all over paid if they don’t see that losing the respect of the people who work for you makes you less valuable.
One other aspect that I neglected to mention in my first response. These are not salaries we’re talking about, they are performance bonuses. Most the time bonuses are contractually contingent upon the economic well-being of the company. If the company is hurting financially such bonuses are void.
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