CEO gives part of his bonus to employees

[HomerJS]

As artfully stated by Senate candidate Elizabeth Warren and inartfully fumbled by Barack Obama sucessful people did not make it strictly on their own.

Props to the CEO of Lenovo for recognizing this and acknowledging the little people.

http://edition.cnn.com/2012/07/19/business/lenovo-bonus-ceo/index.html

 

[Phokus]

Disappointed, but not surprised, that it wasn't an American CEO.

I remember that video of that CEO of Japan airlines 'only' making 200k a year and laughing at the absurd amount of money his American counterparts made.

 

[PokerGuy]

Idiot leftist drivel from fauxahauntas and obummer aside, if someone wants to give it to charity or to their employees or to buy a new Porche is up to them. They earned it and can decide what to do with it.

 

[Phokus]

Idiot leftist drivel from fauxahauntas and obummer aside, if someone wants to give it to charity or to their employees or to buy a new Porche is up to them. They earned it and can decide what to do with it.

No, they did not "earn" it, as i've posted numerous times before, they capture the influence directly and indirectly through the boards. There's no independence when setting compensation for CEO's in America (and elsewhere). Lookup 'interlocking directorates'.

 

[Matt1970]

So now CEO's don't earn their money.

 

[Phokus]

So now CEO's don't earn their money.

Learn what interlocking directorates are and get back to me. When you can practically set your own pay and even 'earn' big payouts when you destroy a company, that's not earning shit.

Most CEO's are value transferers, the real wealth creators are a) The original entrepreneurs who created the company and b) the people below them, especially the engineers/scientists who create the products that they sell. There are SOME CEO's who actually do earn it, mainly in the tech sector (the visionary ones).

 

[PokerGuy]

No, they did not "earn" it, as i've posted numerous times before, they capture the influence directly and indirectly through the boards.

Unless he acquired the money by some illegal means, it's his and he can do with it as he sees fit. He performs some service for a company, they pay him for it. That's called "earning it". If you think it's too high because of interlocking directorates, be my guest and go on a rant about that. Either way, he's still earned it. Whether you think the recipient of the service (the company) overpaid for it or not is irrelevant.

I also find it funny that you think CEO's don't earn their money, but someone working for a union that artificially raises what they get paid above normal market value does 'earn' what they get.

 

[Icepick]

Learn what interlocking directorates are and get back to me. When you can practically set your own pay and even 'earn' big payouts when you destroy a company, that's not earning shit.

Most CEO's are value transferers, the real wealth creators are a) The original entrepreneurs who created the company and b) the people below them, especially the engineers/scientists who create the products that they sell. There are SOME CEO's who actually do earn it, mainly in the tech sector (the visionary ones).

So much truth it's hard to comprehend.

 

[Phokus]

Unless he acquired the money by some illegal means, it's his and he can do with it as he sees fit. He performs some service for a company, they pay him for it. That's called "earning it". If you think it's too high because of interlocking directorates, be my guest and go on a rant about that. Either way, he's still earned it. Whether you think the recipient of the service (the company) overpaid for it or not is irrelevant.

I also find it funny that you think CEO's don't earn their money, but someone working for a union that artificially raises what they get paid above normal market value does 'earn' what they get.

"Earning" doesn't have to do with legal/illegal means. Is there a competitive market for CEO's? No, there isn't. Anyone who argues otherwise is just being blind.

Workers collectively bargaining their wages aren't 'artificially raising their wages'. That's just silly. And CEO's don't have to compete with 3rd world labor while the working class does, the comparison is just plain dumb.

edit: I bet CEO's are in disbelief people like you are in their pocket. They must be rubbing their nipples in ecstasy.

 

[PokerGuy]

"Earning" doesn't have to do with legal/illegal means. Is there a competitive market for CEO's? No, there isn't.

Uh, yes, there is. To my knowledge there is no monopoly stronghold on CEO's, companies of all sizes are free to pick whatever CEO they want. How much you have to pay to get the one you want depends on how much he/she wants and how much you're willing to pay. This really isn't rocket science, it's not different than any other position, other than the dollars involved.

Workers collectively bargaining their wages aren't 'artificially raising their wages'. That's just silly.

Of course they are. They are acting as a collective to make sure an employer has to pay them more than they are otherwise worth on an open market. In other words, artificially raising the wage.

edit: I bet CEO's are in disbelief people like you are in their pocket

Yeah, anyone who can think rationally and doesn't just jump on the "ebil rich CEO's make lots and must be ebil" bandwagon must be "in their pocket".

 

[HomerJS]

Uh, yes, there is. To my knowledge there is no monopoly stronghold on CEO's, companies of all sizes are free to pick whatever CEO they want. How much you have to pay to get the one you want depends on how much he/she wants and how much you're willing to pay. This really isn't rocket science, it's not different than any other position, other than the dollars involved.

Of course they are. They are acting as a collective to make sure an employer has to pay them more than they are otherwise worth on an open market. In other words, artificially raising the wage.

Yeah, anyone who can think rationally and doesn't just jump on the "ebil rich CEO's make lots and must be ebil" bandwagon must be "in their pocket".

When the CEOs site on each others boards voting for each others compensation, the game is rigged.

 

[Veliko]

Uh, yes, there is. To my knowledge there is no monopoly stronghold on CEO's, companies of all sizes are free to pick whatever CEO they want. How much you have to pay to get the one you want depends on how much he/she wants and how much you're willing to pay. This really isn't rocket science, it's not different than any other position, other than the dollars involved.

The same CEOs sit on numerous boards, voting payrises for each other.

Of course they are. They are acting as a collective to make sure an employer has to pay them more than they are otherwise worth on an open market. In other words, artificially raising the wage.

My Lord, you really are a naive one.

 

[nobodyknows]

So now CEO's don't earn their money.

Some of them sure don't.

 

[Phokus]

Uh, yes, there is. To my knowledge there is no monopoly stronghold on CEO's, companies of all sizes are free to pick whatever CEO they want. How much you have to pay to get the one you want depends on how much he/she wants and how much you're willing to pay. This really isn't rocket science, it's not different than any other position, other than the dollars involved.

Of course they are. They are acting as a collective to make sure an employer has to pay them more than they are otherwise worth on an open market. In other words, artificially raising the wage.

Yeah, anyone who can think rationally and doesn't just jump on the "ebil rich CEO's make lots and must be ebil" bandwagon must be "in their pocket".

1) You do realize that union is not mutually exclusive to an 'open market', right?

2) Boards are supposed to have an Arms length relationship to management. They don't. Either directly or indirectly.

When i worked for IBM, not only was he a CEO (Sam Palmisano) who was ALSO the chairman of the board, but he sat on Exxon's board while an ex-Exxon exec sat on IBM's board.

But you probably think his pay was set independently in a competitive market, right? You righties need to learn how capitalism ACTUALLY works.

Your writing is embarrassing.

 

[child of wonder]

I'm not a leftist by any stretch of the imagination but executive pay is getting pretty ridiculous.

Companies are making record profits, they're finding more and more ways to cut costs in the global economy, and have more cash on hand than ever before yet prices are climbing faster than inflation and unemployment stubbornly stays at 8% or above.

Meanwhile, the gap in pay between those executives and the rest of their employees grows and grows and grows.

It seems pretty clear what's going on: those at the top are finding more and better ways of increasing their wealth at the expense of others. This is exactly what we should expect from a society of talking monkeys.

 

[MooseNSquirrel]

The Free Market (also called The Market) is what liberals and communists fear in the pit of their non-existent souls. The concept of the free market is capitalism at its finest. Free of regulation or oversight, the actions of The Market are dictated only by the pure pursuit of profit, set by supply and demand. Of course, when things go bad, these capitalists need the taxpayer to bail them out. But this is not socialism. Socialism is when black people get free cheese.

God guides corporate executives with a loving but invisible hand to do his will through messages sent by The Market.

Only corporate executives have the skill, foresight, and faith to properly interpret the Will of God as revealed through The Market. They are therefore given gargantuan salaries and are not expected to pay taxes.

The Market is responsible for the Great Bush Economic Miracle which allows CEOs to earn gargantuan salaries without paying taxes.

 

[MooseNSquirrel]

Uh, yes, there is. To my knowledge there is no monopoly stronghold on CEO's, companies of all sizes are free to pick whatever CEO they want. How much you have to pay to get the one you want depends on how much he/she wants and how much you're willing to pay. This really isn't rocket science, it's not different than any other position, other than the dollars involved.

Of course they are. They are acting as a collective to make sure an employer has to pay them more than they are otherwise worth on an open market. In other words, artificially raising the wage.

Yeah, anyone who can think rationally and doesn't just jump on the "ebil rich CEO's make lots and must be ebil" bandwagon must be "in their pocket".

One of the ways Democrats have chained the free market and the businessmen who run it is through Labor Unions. The greedy labor unions are a collective of workers from a specific skill field who have banded together to impose their demands on the owners and management of any given business. Such outrageous demands are safe working conditions, "fair" wages, health benefits and job security. What assholes.


Due to the egregious demands of unions, companies have started to outsource jobs to other countries, countries where the workers realize the blessing such companies have bestowed upon them by bringing excellent jobs with the opportunity for upward mobility off of 15 cents an hour.

 

[Incorruptible]

The Free Market (also called The Market) is what liberals and communists fear in the pit of their non-existent souls. The concept of the free market is capitalism at its finest. Free of regulation or oversight, the actions of The Market are dictated only by the pure pursuit of profit, set by supply and demand. Of course, when things go bad, these capitalists need the taxpayer to bail them out. But this is not socialism. Socialism is when black people get free cheese.

God guides corporate executives with a loving but invisible hand to do his will through messages sent by The Market.

Only corporate executives have the skill, foresight, and faith to properly interpret the Will of God as revealed through The Market. They are therefore given gargantuan salaries and are not expected to pay taxes.

The Market is responsible for the Great Bush Economic Miracle which allows CEOs to earn gargantuan salaries without paying taxes.

What utter nonsense, the fact that you believe the government wasn't responsible for the crisis is disturbing

 

[HomerJS]

One of the ways Democrats have chained the free market and the businessmen who run it is through Labor Unions. The greedy labor unions are a collective of workers from a specific skill field who have banded together to impose their demands on the owners and management of any given business. Such outrageous demands are safe working conditions, "fair" wages, health benefits and job security. What assholes.


Due to the egregious demands of unions, companies have started to outsource jobs to other countries, countries where the workers realize the blessing such companies have bestowed upon them by bringing excellent jobs with the opportunity for upward mobility off of 15 cents an hour.

Greedy labor unions is laughable when CEOs can get paid millions for running companies into the ground.

 

[child of wonder]

Someone's sarcasm meter is broken.

 

[Veliko]

Someone's sarcasm meter is broken.

Indeed.

Moose's post was very amusing!

 

[PokerGuy]

I can't help but laugh at some of you leftist fools and your 'down with the ebil CEO's, long live the proletariat" drivel. Thanks for the laughs guys!

 

[Phokus]

I can't help but laugh at some of you leftist fools and your 'down with the ebil CEO's, long live the proletariat" drivel. Thanks for the laughs guys!

I laugh at your inability to respond back to my real life example:

2) Boards are supposed to have an Arms length relationship to management. They don't. Either directly or indirectly.

When i worked for IBM, not only was he a CEO (Sam Palmisano) who was ALSO the chairman of the board, but he sat on Exxon's board while an ex-Exxon exec sat on IBM's board.

But you probably think his pay was set independently in a competitive market, right? You righties need to learn how capitalism ACTUALLY works.

Your writing is embarrassing.

 

[HomerJS]

I laugh at your inability to respond back to my real life example:

Yeah his rambling non-sequiturs while not answering questions qualifies for a night time show on Fox News.

 

[soulcougher73]

If you want to see a US without Unions look no further than all the 3rd world countries that we outsource to. Why do we outsource to them? Because its cheap, they dont have to worry about health insurance, they can put kids to work for as many hours as they want slaving away to make a widget.

I dont know about you guys, but i for one cannot wait to get back to the early 1900s ways of doing business. What a joyess time to have been an American worker.

So yes, lets get rid of unions and see how fast we get back to our roots. Id guess 10 years tops.

/sarcasm