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The CEO of UnitedHealth made 66 million in 2014. The health insurance company collects premiums from patients, pay medical bills, and keeps the rest as profit. I would venture to say there are many people in the world that can do this job for 500k a year.
Why 66 million? This is a great example of crony capitalism where the Washington protects these businesses in exchange for donations.
And you have the balls to talk about ethics?
Why don't you start a health insurance company? Then you could work for $10 an hour and pay all your employees $100 an hour. While setting your insurance premiums at $200 a year. Capitalism is wonderful-you have that opportunity just as much as anyone else does.
CEO is just another employee, no different from a janitor they hire.
Wouldn't you think, the board of directors, who are savvy business people with decades of experience, would have researched and compared the fair market rate for paying a CEO?
Do you just assume that the shareholders and the board of directors are so stupid and generous that they wouldn't like to pocket the extra 65.5 million for themselves even if they could find that $500K CEO?
I am sorry your assumption is just beyond being ridiculous!
According to you it is unethical to pay a nanny more than 15/hr but you see no problem with the ethics of paying 66 million a year for a CEO that does nothing out of the ordinary. This CEO does not create wealth or invents anything.
This CEO simply moves money from your pocket to the pockets of the investors. He is good at milking patients for money, paying medical bills, and keeping the difference as profit for investors.
I have nothing against companies making good money and creating wealth, but these type of CEOs do nothing spectacular.
IF not for the protection of Washington DC these CEOs would make nothing! And you are more worried about paying too much for a nanny.
Perhaps, you are a CEO of one of these companies. If that is the case I understand your strong desire to defend that sort of crony capitalism. Are you a CEO of a health insurance company?
Why don't you start a health insurance company? Then you could work for $10 an hour and pay all your employees $100 an hour. While setting your insurance premiums at $200 a year. Capitalism is wonderful-you have that opportunity just as much as anyone else does.
I see your cynicism!
But, you are not that far from the truth.
COOP health insurance may one day be the best alternative.
In March 2010, health care reform was signed into law. One important part of this new legislation was the program to create new health insurance organizations called Consumer Operated and Oriented Plans (CO-OPs for short). In insurance industry terms, a CO-OP is just another way of saying that the company is governed by its customers and the decisions that are made are to improve services for them. Additionally, any extra revenue that the CO-OP takes in is reinvested for its customer’s benefit – by improving coverage, controlling premiums, and expanding benefits.
Ok please tell me what companies you have worked for where you got to negotiate. If you make a quarter million dollars or more of course you can. If you make that, wonderful....but most don't. So what companies are we talking about.
According to you it is unethical to pay a nanny more than 15/hr but you see no problem with the ethics of paying 66 million a year for a CEO that does nothing out of the ordinary. This CEO does not create wealth or invents anything.
This CEO simply moves money from your pocket to the pockets of the investors. He is good at milking patients for money, paying medical bills, and keeping the difference as profit for investors.
I have nothing against companies making good money and creating wealth, but these type of CEOs do nothing spectacular.
IF not for the protection of Washington DC these CEOs would make nothing! And you are more worried about paying too much for a nanny.
Perhaps, you are a CEO of one of these companies. If that is the case I understand your strong desire to defend that sort of crony capitalism. Are you a CEO of a health insurance company?
Yes, it's unethical to pay anybody way above the fair market value. Frankly it's also an insult to the payee because you would be basically saying "I don't think your work is worth that much but out of pity, I mean compassion, I am going to pay you some extra."
Back to the CEOs. Moving the money from the consumers' pockets to the investors' is the job for every for profit business! Do you know how to move money from my pocket to the pockets of investors? I mean beside voting for the Democrat and having them tax the crap out of me so that you can get your hand-outs? Do you have a way to move my money with my consent and sometimes with me being very happily and willingly? If you do, you would be qualified for making millions in compensation.
Here's the fact, regardless what your opinion is, UnitedHealthcare has 200,000 people, a revenue of $157 billion and a net profit of $5.8 billion, which means the profit margin is about 3.6% If you know a way to keep a 200,000 people company afloat at the razor thin margin of 3.6%, you'd have million's people's votes to make $66 million salary.
I surely as hell do not have such ability and don't qualify anything remotely close to $66 million salary. I can't even run a small company with 15% margin, let along 3.6%.
I again question your assumption that the board of directors and shareholders are so stupid that they are willing to pay $66 million to the do-nothing CEO.
Last edited by lifeexplorer; 05-03-2016 at 08:57 AM..
That's just not true. Most companies have policies and your direct boss has no control of the policies and no authority to negotiate anything.
Again, if your skill is sought after, the terms will be changed for you.
I have put this into play myself and been able to negotiate a wage above union contract scale ( that I was first told was a ceiling set in stone )
Ok please tell me what companies you have worked for where you got to negotiate. If you make a quarter million dollars or more of course you can. If you make that, wonderful....but most don't. So what companies are we talking about.
Vacation, time-off, flexible hours, more pay, better office, bonus level. All can be negotiated.
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