The rich keep getting richer

[Localizer]

Re: The rich keep getting richer

No offence, but how much experience do you have in the "business world"? Judging from your post very little I'd say...

Man, last I remember businesses/CEO's exploit? The view from outside the box. Maybe you can fill me in on how the CEO isn't cheating his/her employees.

[FM]

Re: The rich keep getting richer

now let's look at the opposing side:

http://www.motherjones.com/news/exhibit/2006/07/exhibit.html

[KinKyJ]

Re: The rich keep getting richer

Man, last I remember businesses/CEO's exploit? The view from outside the box. Maybe you can fill me in on how the CEO isn't cheating his/her employees.

Maybe you can fill me in with facts to show me "most CEO's don't have anything more than a bachelor" and that manipulation is the key word in business, more than strategic management, market knowledge, enterprise resource planning and what not.

And btw, if you're that certain that businesses and CEO's exploit, you should move to Cuba or North Korea.

[Troklo]

Re: The rich keep getting richer

I belive that a person in a higher postion should get paid more but should not get exoirbitant salaries, there should be a better dsitribution of the goods, someone here put the example of bill gates I mean he´s the richest man on earth (I know I know he has a lot of social programs) why does he need another million dollars for?
And at least back in Mexico the middle class is disappearing leaving about 5% of really really really rich people (example Carlos Slim 4th richest person in the world) and all of the rest poor.
I guess it all comes down on how´s the way you think, I just don´t see me living living in my 100 millon dollar house knowing that some of my workers can´t even aford a car, a decent home even send there kids to college.
There should be a limit, for example here in Austria rich people have 50% of there income taken away by taxes. I guess amog other things is why this country has the 4th best living standar in the EU.

[thesightless]

Re: The rich keep getting richer

1. i work in this feild, and with some rather successful individuals.. a bachelors degree isnt getting you anywhere nowadays.

2. bill gates made is fortune in stock sales and valuation, moreso than his salary, he owned something that had its value increase millionfold.

3. if you dont earn it , you damn sure dont deserve it. ill use dick cheneys construction firm for example. putting aside politics. why in the work does a guy who never got through highschool and works welding rebar on prodjects deserve more while the guy who got the engineering degree (not cheney) and the guy who sets up the contracts and deserve less... im sorry they dont. everyone has the chance, and if you take it, they enjoy the spoils.

4. look at jenks, im damn positive he isnt giving the low lvl clean up guy a share of his money because he owns and operates his shop.

[Lorn]

Re: The rich keep getting richer

he owns and operates his shop.

Thats a key issue in this debate. Take Bill Gates for instance, since he seems to be on everyones list. Gates is an OWNER of his company. He started it and still owns most of it. Shareholders and owners take most of the risk and in most small companies do most of the work. They deserve every penny they earn.

Now I do have a problem with CEO's who are hired by huge public corporations earning what I would call astronomical sums. It is definately taking shareholders and employees to the cleaners.

[rubyraks]

Re: The rich keep getting richer

I'll grant you that a CEO needs more than a bachelor's in just about every case, but why is there a disconnect between what the CEO brings to the company and how much he's earned and what the average employee brings to the company and how much he's earned? To find it conscionable that a CEO could make 100s of millions a year while their own employees are paid poverty wages is beyond my undersdanding and imo pure greed. I'm sure a CEO like that could easily give up a few mil without hurting his finances whatsoever and live his life exactly as he would before without a problem.

This is the issue I believe that resonator is trying to take up here...the income disparity between the rich and the poor. It should be a crime, but unfortunately our Congress by defining minimum wage at such ridiculously low poverty levels has essentially justified CEOs in doing this.

And before any of you start the well they negotiated it and they earned it BS defense, let's take a look at who they're actually "negotiating" this with. The board of directors, one of the greatest boy clubs ever invented in the history of business. We've created a corporate system that essentially shields that board, who are supposed to be held responsible to the shareholders, from most lawsuits, unless they've done something that is so explicitly and obviously wrong. From a legal perspective, that board usually has to go well beyond negligence and general incompetance to be held liable.

Now let's look at who composes most BODs. Most board members sit on the boards of many different companies and get paid a handsome amount to sit there. The amount of incestuousness within those boards is simply astounding. So what you end up with is a CEO "negotiating" their salary from a board that is truly made up of their peers (buddies) and when one of those peers is "negotiating" their own salary with some other board, very often you find that same CEO sitting on the other company's board (or at least some of their friends). How convenient...

I've seen this scenario play itself out many many times and the wonderful insulation that the law (especially in Delaware) gives to these boards helps to strengthen these conspicuous ties.

So I ask, why provide these boards and executives such great protections if they have no duty to perform at least at some conscionable level? Shouldn't there be a fair tradeoff between the public and the board/executives for the protections that the laws are giving them? In legal speak, where's the consideration to the public for what they're giving up?

[thesightless]

Re: The rich keep getting richer

its all different viewpoints. i have sat with the board of lehman and trust me, these guys earn every penny they make. the sheer amount of stress on a CEO to maintain performance of billion dolalr companies, while keeping the shareholders in the loop and being accountable to shareholders, local governments anc ommunities, the SEC, and thier own employees while keeping the bottom line profitable while expanding into new ventures... trust me, a multi million dollar salary is right where it should be.

[rubyraks]

Re: The rich keep getting richer

I'm not disagreeing with the multimillion dollar salaries, it's just the ridiculous ones that have no relation to the company's size or profitability.

[thesightless]

Re: The rich keep getting richer

ben im telling you, you are in the wrong feild man. i know enough about law to tell you would rock in market regualtion.

[rubyraks]

Re: The rich keep getting richer

maybe, just maybe....hmmm........how's the pay?

[thesightless]

Re: The rich keep getting richer

easy 170K a year once they get you partnership.

[Troklo]

Re: The rich keep getting richer

3. if you dont earn it , you damn sure dont deserve it....

Yes and no. I think that people that just put there hand out and say "give me I?m so poor" deserve to be where they are, but come on there are lots of people that bust there ass every day and get no where I mean (i?m sure you don?t have them but we do) for example a common peasant works since the sun comes out till the sun gets down and wins nothing well almost nothing, I mean with all the work they do they should be millionaires.
What I mean is: here is where you take a bit (i?m sure it wont hurt to take a few thousands or maybe 1 million a year to some who makes millions) from the overpaid CEO?s or what ever the case is and help these people out, give them something so there kids can go to school and don?t have to stay home and work. Now if they don?t take the chance, there again they deserve to be where they are.

[thesightless]

Re: The rich keep getting richer

they should have taken advantage of education. they can always go back and learn something. sorry, i have no pity for the labor feilds. if by now you dont realize that a college education is required in this world to make a decent check, then you frankly dont deserve one.

[thesightless]

Re: The rich keep getting richer

call it darwinism for the professional