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CEOs pay themselves millions, while their companies lose billions and layoff thousands of 'common' workers. They can no longer use the excuse of being paid for their 'performance'. If that were the case they should get no salary at all.
CEOs pay themselves millions, while their companies lose billions and layoff thousands of 'common' workers. They can no longer use the excuse of being paid for their 'performance'. If that were the case they should get no salary at all.
CEOs in 21st century America are NOT capitalists, they are corporate bureaucrats, regularly denounced by shareholder activists.
This people don't own any company, they were hired to manage it.
They are NOT above criticism.
french I strongly disagree. American CEO's are capitalists, they've just changed the beneficiaries of their work. It's not about long term health, or even about the company anymore. It's about self service get rich quick contracts for shareholders who live for a happy dividend even if they squander true worth of the company in the process.
American CEO's (as well as govt politicians) have shifted away from long term goals to the detriment of all.
newtoca- which is why they front load salaries for new hires to compensate for unemployment for a bad plan???
Do you see the insanity in that thinking?? What new hire on any job OTHER than CEO gets a free pass like that? Answer: NOBODY.
Would it be my ability to re write the rules for the whole world (which is not my authority), I'd say UPS has the right idea about keeping it's mgmt in touch with the reality of the company product. The CEO himself has to load trucks with everybody else in labor and mgmt when the demand calls.
I'd also say that the further away from seeing employees as full time shareholders of company health, the worse a company performs. The more employees are looked upon as liabilities instead of true producers, the worse the long term outlook becomes.
I personally subscribe to Carl Icahn philosophy. Corporate bureaucracy is out of control.
In a (large) company it makes no sense to promote competent individuals to executive positions. The most loyal employees get the jobs, not the most competent.
Corporate bureaucracy is politics.
Quote:
"Too often it's not the most creative guys or the smartest. Instead, it's the ones who are best at playing politics and soft-soaping their bosses. Boards don't like tough, abrasive guys." - Carl Icahn
French while I do not subscribe to many of your views, I can say first hand that I've witnessed Carl Icahns statements first hand. I find it morally repugnant, and results in playing to lose.
The more shareholders beg to be told what they want to hear, the worse american companies do, so you can't villify one person. This trend was started with more than one player. It's a trend that has to stop or america will turn into flint michigan.
One mistake by an employee that would cost the company any money and they’re fired. A CEO continues to destroy a company and stockholders with wrong decisions and profiteering and they allow him to leave with a big severance package. I call it white collar crime not capitalists.
Ohh look.. another boo hoo hoo.. CEO's are making more then me because I'm to darn lazy to start my own company or become CEO of another company.
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