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Amazing- every CEO of major companies could probably afford to do this- if only they would. Personally, I believe everyone should be able to live on 70 grand a year.
Are you saying everybody can live on 70k or everybody should be making 70k? Because if its the latter then that's one of the dumbest things I've read on here and pretty much what the communist tried to do and failed miserably.
"No. A CEO should make 300-500 times the rank and file employees, as clearly their skills and value are so much greater than the average person's. Their pay doesn't need to be based on performance, as they are simply better than most Americans. If they run things so badly that the company goes bankrupt and their tenure needs to end, they should be ensured a comfortable living with a golden parachute severance package and a job at another company or think-tank. The rank and file employees can then be told to go work at Wal-Mart or 'get some skills."
Amazing- every CEO of major companies could probably afford to do this- if only they would. Personally, I believe everyone should be able to live on 70 grand a year.
in other words you have no clue about how to do simple math with large numbers do you? you have no idea the numbers involved because you have never bothered to even try and run the numbers have you?
Quote:
Originally Posted by SOON2BNSURPRISE
Not sure how any of those stock options are helping him out now. Then again maybe he found a way to keep the benefits coming.
you dont know how stock options work regarding CEO compensation do you?
You realize that something like this is only possible in a small company where there are few employees, right? If your desire is to see this happen at large companies with thousands of employees, then you are destined to be disappointed. Mathematically impossible.
Are you saying everybody can live on 70k or everybody should be making 70k? Because if its the latter then that's one of the dumbest things I've read on here and pretty much what the communist tried to do and failed miserably.
I'm saying everyone should be able to live on that. I am not promoting limiting salaries. Those making millions should have no complaints.
in other words you have no clue about how to do simple math with large numbers do you? you have no idea the numbers involved because you have never bothered to even try and run the numbers have you?
you dont know how stock options work regarding CEO compensation do you?
Your insults hurt my feelings! I want to be like you when I grow up- able to bravely inslult others with my arrogance over the internet- very impressive! Does Mommy know you have these capabilities?
Lol, Steve jobs was worth billions. That was more a publicity stunt, kinda like this guy. Hey look at me I'm only getting paid a $1 a year. If Steve jobs came back to Apple broke he would have taken full ceo pay package. Im not going to praise the guy in the op for taking a "pay cut". He's probably worth millions dollars. I guarantee him and his family ain't taking a lifestyle cut.
Why not praise him? Instead of keeping more for himself he gave it to his employees. Sure he can probably afford it but he does not have to do it.
it also helps that the company pays for his expenses. and steve jobs is also quite rich because of apple, and i am willing to bet that he put a lot of the money he made since starting the company into a tac free foundation that pays him to administer said foundation, and he probably gets lots of stock options from apple that he can cash in regularly as well.
as for the OP, that can work on a small scale, but try that at ford or GM and see what happens, and i dont mean just cutting the CEOs salary either.
and remember that at most corporations, the CEO is an employee of said corporation, and the board of directors sets the CEOs salary, not the CEO himself.
Somewhat true about scale, but Nucor Steel did a version of this. ALL employees from the CEO down to the guy sweeping the floor are tied into a fairly flat bonus structure. If the workers aren't getting a bonus, neither is the CEO or other managers. ALL employees are given stock options. If the company is not making money, then the options are worthless. Several other benefits like this.
Obviously, things need to be looked at differently at this scale (Nucor is a huge company), but the principle is solid, and can be implemented.
My information is based on old knowledge, so I googled it, and came up with the link below. Some has changed, but the concept still guides the company culture.
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