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Old 07-03-2010, 03:11 PM
 
Location: Planet Eaarth
8,955 posts, read 18,758,788 times
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This is something we all suspect but if nothing else it's outrageous!

Walmart CEO Michael Duke's Pay: More in an Hour Than Workers Get All Year? - ABC News
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Old 07-03-2010, 03:26 PM
 
Location: South Jordan, Utah
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I imagine it is a little more difficult to run a worldwide, multi-billion dollar, massively large company as opposed to watching me use the self-checkout scanner and push a button when it malfunctions. I doubt very many people have the skills necessary for the first job, if they did competition would be driving the price down.

The gap between the rich and poor always cycles, we are at a peak now. Much of the increase in the mega wealthy is due to the tech revolution, just as the prior peak (1929) was due to the auto giants and other "tech" giants of the day, wealth concentrates in the hands of the entertainers of a new tech cycle.

Another factor keeping is the tax code penalizes the so called “rich”, people who make a high income of $250,000 a year or more. It is much harder to grow a business when your wages are taxed and the wealthy such as Buffet push for higher taxes on the high income earners, he knows it will keep down his future competition, not him.

The cycle will reverse just as it did from 1929-1974 until the next tech revolution kicks in, unless the government does more things to stifle ingenuity.

This is not to say that there aren’t big problems, watching a guy create synthetic CDO's of sub prime bonds and bring home $30 million a year is much worse than a talented CEO running a huge company.
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Old 07-03-2010, 03:42 PM
 
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I would have no clue how to run a retailer on the global scale of something like WalMart, so I've no inclination to disparage the salary someone who does, especially if we're doing it on the basis of how much he makes compared to someone running items over a scanner. Yet another angry thread by the always angry Tightwad, seeing injustice at every turn. It's not even like they are some big bank losing billions yet paying the executives, WalMart is doing great.
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Old 07-03-2010, 04:01 PM
 
12,022 posts, read 12,229,964 times
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I never understood statements like this, OP. What should we being doing? Trying to narrow the gap? What gap is acceptable? What is the maximum ratio someone should make as the head or founder of a company compared to the 9-to-5 worker who just shows up and does what he/she is told to do?
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Old 07-03-2010, 04:53 PM
 
2,721 posts, read 3,921,983 times
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Unfortunately if Walmart were to raise the pay of its employees, it would have to lay a lot off. One of the great things Walmart does is hire so many people, even handicapped and seniors. Talk to any senior at Walmart, they may hate their job, but at least they have one, they'll also probably tell you this is the only job they could find that would hire them. If walmart were to raise its employee pay, a lot of these seniors might have no where to work.

But yes, I hate seeing CEO's make 30 million as well. But thats capitalism, and there is nothing we can do about it. Capitalism isn't great-- but it's better than the alternatives.
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Old 07-03-2010, 05:06 PM
 
Location: Phoenix
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Companies have to adapt to operate profitably in the environment they operate. Policies of the Federal government are killing the middle class. Excessive taxation on American based industries, making it attractive to have all our manufacturing jobs sent offshore and allowing a permanent uderclass of leeching illegal immgrants to develop, God love them, is murdering us.

They peddle this crap that all the kids need to go to college and be professionals because we are no longer going to have manufacturing and the service industry is not the place to earn a decent wage. Of course working for the government is actually the most secure, best paying job for most because the govrnment takes the first cut of all our income keeping/wasting most of it and doling out the rest to us for which we are supposed to be thankful.
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Old 07-03-2010, 05:18 PM
 
12,022 posts, read 12,229,964 times
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Quote:
Originally Posted by cyclone8570 View Post
Unfortunately if Walmart were to raise the pay of its employees, it would have to lay a lot off. One of the great things Walmart does is hire so many people, even handicapped and seniors. Talk to any senior at Walmart, they may hate their job, but at least they have one, they'll also probably tell you this is the only job they could find that would hire them. If walmart were to raise its employee pay, a lot of these seniors might have no where to work.

But yes, I hate seeing CEO's make 30 million as well. But thats capitalism, and there is nothing we can do about it. Capitalism isn't great-- but it's better than the alternatives.
Bingo. It's well-known that countries with excessively high min. wage laws have higher rates of unemployment on a chronic basis. France is a great example.

As you said, Wal-mart provides a healthy supply of entry-level full-time and part-time jobs for teens, seniors, and those without advanced degrees. These populations have been the most vulnerable in the current recession, with some studies showing they have a true UE rate >25%. I'd rather have wal-mart hire people willing to work than to have them sit on their couch and collect welfare all day.

Working at wal-mart is an honest job and despite the propaganda from liberals and union-sympathizers they pay pretty decent and handed out billions in bonuses last year during the recession

http://www.bloomberg.com/apps/news?p...GYg&refer=home
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Old 07-03-2010, 05:57 PM
 
Location: Planet Eaarth
8,955 posts, read 18,758,788 times
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Quote:
Originally Posted by chopchop0 View Post
I never understood statements like this, OP. What should we being doing? Trying to narrow the gap? What gap is acceptable? What is the maximum ratio someone should make as the head or founder of a company compared to the 9-to-5 worker who just shows up and does what he/she is told to do?
There are two things everyone can do. First, vote. Second, learn all you can about how unions are supposed to work for the working people.

Throwing ones hands in the air and saying "there's nothing I can do" is not an option for the savvy worker.
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Old 07-03-2010, 06:07 PM
 
12,022 posts, read 12,229,964 times
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Quote:
Originally Posted by Tightwad View Post
Second, learn all you can about how unions are supposed to work for the working people.

Throwing ones hands in the air and saying "there's nothing I can do" is not an option for the savvy worker.
Yeah unions have done great for people in CA NJ and NY, if they happen to be work for a state union. If you're a private citizen in those states though, you've been taxed to death so the union can enjoy luxurious health and pension benefits.

Ditto for GM, and now we, the taxpayer, are bailing them out.

The "savvy" worker should learn that nothing is guaranteed life except "death and taxes" as Ben Franklin used to say. Unions hold back people who could excel on their own, and support people who would otherwise be weeded out due to being lazy, careless etc.
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Old 07-03-2010, 06:11 PM
 
Location: South Jordan, Utah
6,977 posts, read 7,800,469 times
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Quote:
Originally Posted by Tightwad View Post
There are two things everyone can do. First, vote. Second, learn all you can about how unions are supposed to work for the working people.

Throwing ones hands in the air and saying "there's nothing I can do" is not an option for the savvy worker.
Unions, ok I see. Using government sponsored force to throw off the natural balance of the economic eco-system. Ya, that works well.
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