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Location: By the sea, by the sea, by the beautiful sea
68,330 posts, read 54,411,082 times
Reputation: 40736
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Quote:
Originally Posted by Greatday
Let's see - I'm a "CEO" - I own my own businesses. I employ people. I take the financial risks of such.
I pay my staff well. I provide them benefits.
Do I make a profit? Yes - I would not stay in business if I did not. Do I apologize for making a profit and providing my family a comfortable lifestyle? Not in the least - why should I.
IMO, your "vision" about CEO's is somewhat "skewed" to say the least -
CEO's don't suck. They are necessary. You have a job because of a "CEO"
You say you pay your staff well and provide benefits.
You obviously understand that while they have jobs because of a CEO, you're also a CEO because you have a staff that works well for you.
Let's see - I'm a "CEO" - I own my own businesses. I employ people. I take the financial risks of such.
I pay my staff well. I provide them benefits.
Do I make a profit? Yes - I would not stay in business if I did not. Do I apologize for making a profit and providing my family a comfortable lifestyle? Not in the least - why should I.
IMO, your "vision" about CEO's is somewhat "skewed" to say the least -
CEO's don't suck. They are necessary. You have a job because of a "CEO"
Hey Greatday, long time no hear. I dont call you a CEO. You are a small business man and I so greatly admire the position. I sit in the same desk as you in my own business but I cant bring myself to call myself a CEO.
The point of this discussion is the big fat clowns who suck millions from the economy and give nothing back. The vast majority of CEOs in charge of mega corporations have no job, just a title. They attend a few meetings and flirt with all the pretty girls and collect a salary each day that is greater to what most normal people make in their entire working career.
It's not fair. And even though I P { MARGIN: 0px } UL { MARGIN-TOP: 5px; MARGIN-BOTTOM: 5px } OL { MARGIN-TOP: 5px; MARGIN-BOTTOM: 5px } reluctantly admit that life is not fair, I dispise those who have it and brag about it.
The people you are talking about in Enron got prosecuted - not exactly rewarded.
Enron was made an example of, but it's only the tip of the iceberg. CEO's fleece corporations on a regular basis, and usually, they get away with it. Even those Enron executives, though, sure got a better deal than many of the people that they ruined or killed. Their families weren't reduced to poverty, for one thing. Twenty years from now, those Enron executives will be kicking it at their tropical villas in a comfortable retirement. Their victims will be kicking it in state-run nursing homes.
Quote:
Originally Posted by Bagz
This provided a good example to investors to pay better attention and diversify.
This has nothing to do with anything. What are you saying, Enron executives did their investors good? What, like their acts were meant to be educational? That's like saying a murder victim is responsible for his own death because he should have paid better attention and worn a bullet-proof vest. And how does diversification make corporate theft any less despicable? CEO's are fiduciaries. They are entrusted with other people's money and assets -- and they have an obligation, legal and moral, at the very least not to steal it; especially since by law shareholders have very limited control over executives. This obligation is very rarely enforced -- and that is truly disgusting.
Quote:
Originally Posted by Bagz
Golden parachutes are negotiated beforehand and it is very difficult to negotiate one in the current climate.
Executives also name their own salaries and benefits. Golden parachutes are often renegotiated in the context of a bankruptcy, for example -- renegotiated upwards, that is. Once a business falters, it is time for plunder. I am talking about publicly held companies, of course.
Location: By the sea, by the sea, by the beautiful sea
68,330 posts, read 54,411,082 times
Reputation: 40736
Quote:
Originally Posted by Greatday
I disagree - most CEO's know it all to well -
They have to balance their obligations to the owners of the company (the stockholders) and those that are workers
So the ones who stroll away with their golden parachutes while the company is circling the drain actually give a rat's behind about anyone/thing than themselves?
The way many movies are tanking at the box office and the way the entertainment industry is faltering, I hope their salaries will come down to earth. Professional athletes make way too much as well. Some sports franchises are worth a billion dollars. Did you know in Pa we gave each pro team( 2 baseball, 2 football) one hundred million dollars each to build new stadiums?
A CEO paid tens of millions of dollars only to have his company tank from his misdirection needs to be sued into poverty and bankrupted in class action lawsuits. Sure only the lawyers get rich, but it might send a message. I know of cases where burned investors got the ultimate revenge on people who ruined them financially. Drastic, but you can't spend money in the cemetary.
So the ones who stroll away with their golden parachutes while the company is circling the drain actually give a rat's behind about anyone/thing than themselves?
I find that difficult to believe
Let me ask - who provided that "parachute"?
Answer: It was those who hired - sought out, the CEO (usually a BOD) - It was part of the employment contract.
Let me ask you - if your employment contract provided for your employer to pay your medical insurance and to put some money in a retirement account - would you expect them to do so? Would you have the right to sue if they did not?
The way many movies are tanking at the box office and the way the entertainment industry is faltering, I hope their salaries will come down to earth. Professional athletes make way too much as well. Some sports franchises are worth a billion dollars. Did you know in Pa we gave each pro team( 2 baseball, 2 football) one hundred million dollars each to build new stadiums?
A CEO paid tens of millions of dollars only to have his company tank from his misdirection needs to be sued into poverty and bankrupted in class action lawsuits. Sure only the lawyers get rich, but it might send a message. I know of cases where burned investors got the ultimate revenge on people who ruined them financially. Drastic, but you can't spend money in the cemetary.
I tried to stay away from sports and salaries. But you got me thinkin. I do dispise what pro sports people make. I try very hard to overlook that when Im watching a game and the team I love.
Do you remember way back in 94 when MLB players went on strike and most of the season was canceled? That was all over more money. Greedy players. Baseball lost so very many of their loyal fans due to this strike which made way for football becoming Americas sport over taking baseball which has been Americas sport prior
I cant use movie stars as an example because I dont go to movies nor do I rent videos. Partly due to my protest to their grotesque salaries and greed.
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Ummm it's called greed. Take a look at your politicians you all vote for and support. Look at that 84 YO Billionare Alaskan politico up on charges for stealing in the news now? Look at that other clown Strom Thermond...92 years old and still on the job. He ain't doing anything like the rest of those criminals in the White House but he is on the job. GREED !!!
Why does Warren Buffet contine to go to work? Why does Donald Trump continue to go to work? They have enough loot to survive a million years if they could live that long. GREED !!!!
On the other hand, greed is the American way. It is engraved into our culture. For that it is none of our fault.
That doesnt answer my question. Someone who is greedy would not risk a billion dollar net worth on an illegal activity to make a little more. A rich person has more to lose by breaking the law and therefore less likely to do so. Greed it the motivator for that.
Warren Buffett and Donald Trump are providing jobs for thousands of people. Maybe he is working out of a sense of responsibility to them. To automatically assume they are greedy is nothing more than class warfare fear mongering.
The way you are bragging about and defending this gloat of a CEO dead weight that sits next to you is making me suspicious.
If he is only making $100K then I cant say much bad about him. If he is one of the average CEOs that we are all talking about, those who make enough in a year to almost erase an entire states budget deficit and run a company to the ground and walk away with a few billion bonus/reward, that is what makes us all angry.
What if this happened to you? You might find yourself walking around looking like an ex Enron employee who lost their entire retirement savings and now have to work far past retirement age.
Ken Lay got what he deserved. For that us little people are happy. We just wish he suffered a bit more before he kicked the bucket.
Why? Because I am proud of him? He is my boss (and does not sit next to me) and has been my boss for 10 years. I have had a lot of jobs and I could not ask for a better boss. He actually knows what appreciation is. Can't say as much for some of my former bosses who where nowhere near his ranking.
I never said that he makes 100K. He probably makes 1 million or so a year.
Kristine
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