Calculate Your Own Pay If You Were a CEO!

AFLCIO ^ | January 22, 2002 | AFLCIO/parsifal

[parsifal]

"You may picture CEO's out on golf courses, but if you want to picture the truth, picture them with 2 hours of sleep at 3 in the morning running over some statements having spent about a total of 5 hours with his/her family in the last week."

More likely, tshe American Express "statement" to make sure their trip to Mistress Pollyanna's House of Discipline and frequent charges to Player's Elite Escort Service doesn't show up where wifey-poo can find it, where some sharp lawyer will grab half of his ill-gotten gains for the little woman. parsy.

[parsifal]

"I think most of us here on FR work hard, are fairly successful, and prefer capitalism over any alternative that's been tried. '

Me, too. Just want some reasonable regulation thereto. parsy.

[Texaggie79]

Disgruntled workers usually vote Democrat and Union. What happened to you?

[Tempest]

"How about "Calculate Your Own Pay If You Were a Labor Union Leader!"

LOL!! Too true, too true. Union leaders are a greater evil than CEO's any day.

At least your CEO is responsible for providing your paycheck. While the Union leader is responsible for taking it away ;)

[Tempest]

"More likely, tshe American Express "statement" to make sure their trip to Mistress Pollyanna's House of Discipline and frequent charges to Player's Elite Escort Service doesn't show up where wifey-poo can find it, where some sharp lawyer will grab half of his ill-gotten gains for the little woman. parsy.

Are you talking about a CEO or the a Union Leader :O !!!!

[parsifal]

The CEO of course. The Union guys usually pay in cash. parsy.

[glory]

I think most businessmen share the same mental make-up as criminals and welfare-recipients.

I'm sure my terrific, balanced, loving, caring husband will be glad to know this is what the envious think of him. How heartwarming. My guess is you don't really know any businessmen and your assessment of them is no better than an assessment of someone who is wealthy who've never known working poor.

I am not so sure the rich are being taxed too much, and indeed, tend to think they ought to be taxed more. I think there should be a 100% estate tax for most rich folks

LOVELY!!!! Sooooo, if someone busts thier a$$ to make something of themselves and save something to make lives a little easier for thier children and maybe thier children will even open ANOTHER new business which will employ even more people, but instead all my hard work should be rewarded by having every cent ROBBED from me once I'm in the grave, potentially leaving my own children who might be working poor themselves if they don't choose the same life as us, out in the cold? You are a pathetic THIEF parsi--nothing more!!! Anyone who would advocate STEALING someone's hard earned $$ to give to the government instead of the rightful heirs is a THIEF!

[parsifal]

I am glad your husband is normal, even though a businessman. Cherish him! He is somewhat rare. And yes, I have known many businessmen and their families. And I have friends in low places, too. But don't trust me. Read that DSMIV thing I posted above.

"but instead all my hard work should be rewarded by having every cent ROBBED from me once I'm in the grave..." Oooops. You are right. I screwed up in my reply. I meant to say 100% estate tax over a certain amount, not 100% period. That way you could still leave enough for your kids to be well off, without creating future hosts of Kennedy-like brats. Sorry. Does this revise your opinion of me any? parsy the meek.

[parsifal]

Oh texaggie79---look what I just found! Pinged to me by razorbackbert! Was I dead on point with my Mistress Pollyanna stuff or not....

Sex, Enron, Wild Living

[Texaggie79]

Read it the other day.

Gee, I know many many "lower rung" workers that have affairs and live sleazy lives. Guess I can label em all that way huh?

[Texaggie79]

Read it the other day.

Gee, I know many many "lower rung" workers that have affairs and live sleazy lives. Guess I can label em all that way huh?

[HamiltonJay]

It is unarguable that CEO and executive pay in the mid 90s through now has been insane... the system was ignoring reality in nearly every way for many reasons (booming times etc). However, reality is scaling those excesses back, and as the market stays flat (which yes people it will be doing so for QUITE A LONG TIME! Just look at the P/E ratios even today, they are all still way way too high traditionally) You will find that these types of things will not continue to ballon insanely.

In fact, many former CxO's now can't find work, because quite simply they should have never had a CxO position in the first place this is most of the startup/internet industry from 95 on. In larger corps, they also had booms, but are locking down spending to more tranditional ways..

I still don't think you are going to see "equity" as some people want, but the 50% a year increases are over. That doesn't mean a company will not pay big bucks to bring in a competent and proven Exec if they desperately need it... but the free pass is over.

[parsifal]

You should cut the poor folks some slack. They don't have as much to do with their free time. They can't afford country clubs, hobbies, golf, yachts, vacations, shopping extravaganzas, digital cable, collectibles, etc. The rich have little excuse for being such degenerates. parsy.

[parsifal]

"but the free pass is over."

I hope so. I also hope the obfuscatory conglomerate-then divest cycle ends. So many CEOs screw things up, then get rewards for "un-screwing." Nice work if you can get it. I could never believe some of the P/Es people were buying either. parsy.

[cactmh]

A good CEO makes more money for shareholders (the owners, and actually the only ones who should have anything to do with this issue) than any Union Rat will ever make the company...

[Texaggie79]

Excuse? So you excuse denigrate behavior in the poor? Sounds VERY liberal to me.

[HamiltonJay]

I meant to say 100% estate tax over a certain amount, not 100% period. That way you could still leave enough for your kids to be well off, without creating future hosts of Kennedy-like brats. Sorry. Does this revise your opinion of me any? parsy the meek.

Have you actually looked at the super wealthy? Almost without question by the 3rd or 4th generation there true wealth is gone. Sure they may still live comfortably, but they do not grow wealth, create new wealth and usually desemate it.

The pattern is something like this:

• First Generation builds great wealth
• 2nd Generation, by being raised, trained and watching the 1st generation build the wealth, work hard and build even more wealth.
• 3rd generation having never seen or being exposed to never having wealth, do not appreciate nor understand their position and do not have drive or desire (generally) or ability to effectively build. (Not to mention the natural division of the overall wealth through the generations) SO it begins to decline.
• and this continues for many generations afterward, by 4th or 5th generation money is mostly if not completely gone.

Remember the Kennedy's are only in their 3rd generation since old Joe made his millions... and have pretty much lost most of their wealth. Same for the Vanderbuilt's, and Rockefeller's... sure they still have money, but their money and power is far reduced from its height, and none of the current generations will ever produce anywhere near the success of their predacessors.

Inheritance Taxes do not prevent spoiled brat wealthy offspring... Good parenting does.

[parsifal]

That's like saying quarterbacks and running backs score more touchdowns than the offensive line. It's true, but if you think about it, it takes both to paly the game. And check the wage differentials sometimes between tackle and QB. ---A CEO should be paid more than Joe Blue Collar. But 1,000 times???? Sorry. Don't go for that. parsy.

[parsifal]

What was the old saying, "Shirtsleeves to shirtsleeves in three generations."-- I'm not so sure that the wealth disappears. Statistics can be misleading, but I think I read the other day that 1/3 of current millionaires inherited over a million to start with. parsy.

[HamiltonJay]

A good CEO makes more money for shareholders (the owners, and actually the only ones who should have anything to do with this issue) than any Union Rat will ever make the company...

This is a very narrow minded view, CEO's actually in my experience do not do extremely great things for a company, but are more of an administrative neccessity. The BUCK has to stop somewhere... most do not CREATE the visions their companies will follow, (Especially in LARGE corporations.) Those visions are developed by others beneath them, and he gives the final yay or nay, and then chearleads them.

Now don't get me wrong there are some great CEO's out there, but often times the CEO is not the guy driving the plays or running the ship. As to shareholder value, this is actually done my adding value, and production adds value to a company...