News, Fast-food CEOs make 1,000 times more than their workers. (owner, paycheck, job)
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The problem with this Adam Smith story is the boards are so incestuous; the CEOs all know each other and tend to be on the boards of other companies.
So why do CEOs get fired when the company doesn't perform well? Their performance is held accountable just like anyone. I have a feeling you made that up anyways.
USA has the largest CEO to worker pay gap in the world. It has proven beneficial, in other nations, to have a lower gap.
How so? We are the worlds riches country and superpower. The financial capital of the world in NYC with all the global corporate headquarters. Look at Silicon Valley. Last I checked, all the global corporate leaders are headquartered in the US. Mcdonalds and dozen of other fast food companies are everywhere in the world, but the CEO makes sooo much. Where are all these foreign food companies? It has actually proven beneficial to the US.
The professional athlete pay gap is also larger in American than the world. So are movie stars compared to min wage workers.
What you don't seem to understand, and don't want to, is that the CEO of a large corporation in a person of incredibly rare talent and ability. Very few people have what it takes to do that job. They deserve to be paid thousands of times what their low end employees make.
The bottom line is that income inequality is a phony issue. If an individual doesn't like his income level, it is up to him to make himself a more valuable commodity. In fact the only income inequality that matters is your own. If you would like to be making A but are only making B, that is your problem, and only your problem.
If you are common and easily replaceable, you will never be worth much money. That's life, and that will always be life. To rebel against that is to rebel against reality itself. You need to make yourself good at something to be worth more money. And really good to make more. And the best to make the most. That is fair, that is just, and that is real.
LOL yeah right. They're in those positions because of who they know, not skill.
So why do CEOs get fired when the company doesn't perform well? Their performance is held accountable just like anyone. I have a feeling you made that up anyways.
You should read the book "Money for nothing" by John Gillespie.
So why do CEOs get fired when the company doesn't perform well? Their performance is held accountable just like anyone. I have a feeling you made that up anyways.
Getting fired means nothing when you made 8 figures and get a huge bonus!
LOL yeah right. They're in those positions because of who they know, not skill.
Well along with being competent, experienced, having a proven track record, and educated, being well liked and having the ability to network (as you put it who you know) also helps.
Oh. On more thing... CEOs are elected by a board of directors. It's not one of those jobs where you can just "know someone" and get paid millions.
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