Walmart CEO made 25.6 million (attorneys, program, voted, community)
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You'll have to ask them. But exactly who is the largest shareholder group in the country?
Already posted... the tens of millions (if not more) of American workers and retirees who have $27 Trillion invested in their pension/retirement accounts.
You DO understand that if the corporations in which they hold shares aren't profitable, that reduces those American workers' and retirees' retirement income, no?
The shareholder class includes about half of all working Americans, including myself. So how have us shareholders rigged the market?
The Dumbest Idea In The World: Maximizing Shareholder Value
by Steve Denning
Quote:
...“It isn’t just about the money for shareholders,” writes Martin, “or even the dubious CEO behavior that our theories encourage. It’s much bigger than that. Our theories of shareholder value maximization and stock-based compensation have the ability to destroy our economy and rot out the core of American capitalism. These theories underpin regulatory fixes instituted after each market bubble and crash. Because the fixes begin from the wrong premise, they will be ineffectual; until we change the theories, future crashes are inevitable.”
“A pervasive emphasis on the expectations market,” writes Martin, “has reduced shareholder value, created misplaced and ill-advised incentives, generated inauthenticity in our executives, and introduced parasitic market players. The moral authority of business diminishes with each passing year, as customers, employees, and average citizens grow increasingly appalled by the behavior of business and the seeming greed of its leaders. At the same time, the period between market meltdowns is shrinking, Capital markets—and the whole of the American capitalist system—hang in the balance.” ...
There are 2.1 million Walmart employees. If they work on average 1219 hours a year the CEO could forego his compensation so all other Walmart employees could make an extra penny an hour.
Imagine that is a salary of just one Walmart CEO. Consider when the salaries of all the CEOs are added up Leadership and then add to that the Walton family that gets $$$ for doing..........nothing! 1.5 million every hour adds up fast!
Quote:
If Sam Walton’s dependents actually worked for their Walmart dividend checks this year, they would be handed $1.5 million every hour. Meanwhile, Walmart workers get an average of $8.81 per hour and are routinely denied full-time work.
Already posted... the tens of millions (if not more) of American workers and retirees who have $27 Trillion invested in their pension/retirement accounts.
You DO understand that if the corporations in which they hold shares aren't profitable, that reduces those American workers' and retirees' retirement income, no?
Don't retire yet. The corporate CEOs have to take millions from the company first so that they can retire on their golden parachute. You investors will not be entitled to anything.
So... what's the alternative plan for funding tens of millions (if not more) of American workers' and retirees' retirement income? Social Security? Please, don't make me laugh. SS benefits aren't even enough to pay real estate taxes in the blue cities/states.
Don't retire yet. The corporate CEOs have to take millions from the company first so that they can retire on their golden parachute. You investors will not be entitled to anything.
How in the world has it escaped your attention that a large percentage of CEOs' compensation is paid in shares of corporate stock? If those shares are devalued, the CEOs earn less, but even worse... tens of millions (if not more) American workers and retirees get much less pension/ retirement income.
So... what's the alternative plan for funding tens of millions (if not more) of American workers' and retirees' retirement income? Social Security? Please, don't make me laugh. SS benefits aren't even enough to pay real estate taxes in the blue cities/states.
Are you suggesting it's unreasonable to question the type of 'conventional wisdom' that, very much more often than not, tends to make a very tiny number of people very large amounts of money?
How in the world has it escaped your attention that a large percentage of CEOs' compensation is paid in shares of corporate stock? If those shares are devalued, the CEOs earn less, but even worse... tens of millions (if not more) American workers and retirees get much less pension/ retirement income.
How has this escaped you?
Quote:
Executive largesse siphons off profits that could have raised share prices. Americans
invest roughly two-thirds of their 401(k) savings in stocks, which trade at a multiple of
profits. A company that earns $2.20 a share might sell for $22 -- or 10 times annual
profits, a fairly average multiple.
If executives took a smaller slice, profits would be higher, and it's fair to assume share
prices and 401(k) totals would be higher as well, said Paul Hodgson, a senior analyst with
The Corporate Library, a research firm in Maine. How much higher is impossible to say,
but "it's significant," Hodgson said.
• Pay isn't tied to performance. Investors might forgive this if CEOs were being rewarded
for raising profits. But that's often not how it works. Some of the most spectacular
rewards of recent years went to CEOs of companies now near collapse. (See "As banks
broke down, CEOs cashed in.")
FYI, don't quit your day job yet. You might find yourself asking if they want fries with that.
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