Costco CEO only makes $350,000 a year?

[pontifex]

Originally posted by: Linux23
Just watched 20/20. The CEO only makes 350K per year (obviously he has stock options), and he has a contract that states he can be fired if he is not doing his job?:Q

Most CEO's make 12X more than that. Why is he so humble? And why are other CEO's making so much damn more money?

I love this guy, seriously.

ONLY 350K????????
wtf dude, i'd take it.

 

[mugs]

Originally posted by: JLGatsby
Your original statement was an attempt to prove that paying a CEO less will still result in the same performance.

It absolutely was not, that's your misinterpretation.

 

[mugs]

Originally posted by: JLGatsby

As a stock trader I need to judge the short term health of a company. I know how to judge earnings and revenue and other vital financial statistics.

Because some dolt on ABC said Costco is "cool," that does not mean the company is doing well relative to it's respective industry and competitors and it's "expected performance."

Do you have a hard time staying on topic? I said Costco is doing "alright." I'll upgrade that to "doing well," because that's clearly what I was implying.

I said nothing about their stock. The fact that they are the number 4 retailer in the country is proof enough for an rational person to say they're doing at very least pretty well. I'm well aware that wall street doesn't "like" Costco because they could potentially increase profits by paying their employees less. That doesn't mean they're not doing well.

And you know, for someone who likes to spout off about finance, you've proven you're pretty clueless about personal finance.

 

[sonoma1993]

alot of these ceo's are crooks. look at delphi for example, they want there employees to take a wage cut down to $9-12hr and the ceo give thereselves a nice fat bonus.

 

[Reckoner]

Only 350k? The Sheer Agony! How does he put food on the table. Can we send in donations? 🙁

 

[BlueWeasel]

Originally posted by: mugs

Originally posted by: JLGatsby
And you know, for someone who likes to spout off about finance, you've proven you're pretty clueless about personal finance.

:shocked:

 

[mugs]

Originally posted by: sonoma1993
alot of these ceo's are crooks. look at delphi for example, they want there employees to take a wage cut down to $9-12hr and the ceo give thereselves a nice fat bonus.

I believe the bonuses you're referring to are conditional on their pulling the company out of bankruptcy. That's a good thing.

And if those employees think they can do better than $9-12 an hour, they ought to seek other employment - at Costco for instance. 🙂

 

[imthebadguy]

google ceo makes $1/yr

 

[JLGatsby]

Originally posted by: imthebadguy
google ceo makes $1/yr

Atleast try to verify it before you make a dumb statement.

http://finance.yahoo.com/q/pr?s=GOOG

 

[JLGatsby]

Originally posted by: mugs

Originally posted by: JLGatsby

As a stock trader I need to judge the short term health of a company. I know how to judge earnings and revenue and other vital financial statistics.

Because some dolt on ABC said Costco is "cool," that does not mean the company is doing well relative to it's respective industry and competitors and it's "expected performance."

Do you have a hard time staying on topic? I said Costco is doing "alright." I'll upgrade that to "doing well," because that's clearly what I was implying.

I said nothing about their stock. The fact that they are the number 4 retailer in the country is proof enough for an rational person to say they're doing at very least pretty well. I'm well aware that wall street doesn't "like" Costco because they could potentially increase profits by paying their employees less. That doesn't mean they're not doing well.

And you know, for someone who likes to spout off about finance, you've proven you're pretty clueless about personal finance.

I'm not an expert in "personal finance."

And I know little about credit cards because I've never needed one.

 

[RossMAN]

No one badmouths CostCo, no one!

 

[Minjin]

Originally posted by: mugs

Originally posted by: JLGatsby

As a stock trader I need to judge the short term health of a company. I know how to judge earnings and revenue and other vital financial statistics.

Because some dolt on ABC said Costco is "cool," that does not mean the company is doing well relative to it's respective industry and competitors and it's "expected performance."

Do you have a hard time staying on topic? I said Costco is doing "alright." I'll upgrade that to "doing well," because that's clearly what I was implying.

I said nothing about their stock. The fact that they are the number 4 retailer in the country is proof enough for an rational person to say they're doing at very least pretty well. I'm well aware that wall street doesn't "like" Costco because they could potentially increase profits by paying their employees less. That doesn't mean they're not doing well.

And you know, for someone who likes to spout off about finance, you've proven you're pretty clueless about personal finance.

I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

 

[imported_goku]

Originally posted by: Linux23

Originally posted by: JLGatsby

Originally posted by: Linux23
Just watched 20/20. The CEO only makes 350K per year (obviously he has stock options), and he has a contract that states he can be fired if he is not doing his job?:Q

Most CEO's make 12X more than that. Why is he so humble? And why are other CEO's making so much damn more money?

I love this guy, seriously.

You love him because he is underpaid?

Jealous much?

I love him because he's not a greedy fsck.😛

QFT

 

[Xyclone]

Originally posted by: ThisIsMatt
Only?

Dude, he's the CEO of ALL of COSTCO!!! What do you mean only?!? :shocked:

 

[JLGatsby]

Originally posted by: Minjin
I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

I don't understand you using Sears as an example.

 

[Minjin]

Originally posted by: JLGatsby

Originally posted by: Minjin
I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

I don't understand you using Sears as an example.

Are you suggesting that Sears Holding is in perfect health and has a bright future ahead of it? 😉

Mark

 

[Dissipate]

Originally posted by: ElFenix

Originally posted by: Dissipate
Do you believe that given a progressive income tax the government wouldn't be tempted to shift the distribution of income upwards to get a higher overall tax take due to higher percentage taxed?

while that may be true, that isn't reality.

delaware's government doesn't see a dime from the federal income tax, and doesn't see a dime from the state income tax of most CEOs. no, i don't think delaware's business judgement rule is influened by the want of more income taxes. franchise fees? you bet. but not income taxes.

I'm talking about the federal government. You don't think the feds would want to use CEOs as a front for getting a 30% tax rate as opposed to a 10% or 15% tax rate?

 

[kalster]

Originally posted by: K1052
+ bonus
+ stock options

 

[JLGatsby]

Originally posted by: Minjin

Originally posted by: JLGatsby

Originally posted by: Minjin
I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

I don't understand you using Sears as an example.

Are you suggesting that Sears Holding is in perfect health and has a bright future ahead of it? 😉

Mark

Sears Holding is the next Berkshire Hathaway since they reorganized under Eddie Lampert's control.

Where have you been?

Lampert has gained permission to invest excess profit (and the company is making a ton) in non retail related businesses.

 

[Minjin]

Originally posted by: JLGatsby

Originally posted by: Minjin

Originally posted by: JLGatsby

Originally posted by: Minjin
I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

I don't understand you using Sears as an example.

Are you suggesting that Sears Holding is in perfect health and has a bright future ahead of it? 😉

Mark

Sears Holding is the next Berkshire Hathaway since they reorganized under Eddie Lampert's control.

Where have you been?

Lampert has gained permission to invest excess profit (and the company is making a ton) in non retail related businesses.

I'm fully aware of the 'theory' that Eddie Lampert is going to use Sears Holding just like Buffet used Berkshire Hathaway, by gutting it out and using it to hold his investments. Might happen. Might not. But even if it does, Sears Holding as a retailer is dead.

Mark

 

[AgaBoogaBoo]

Originally posted by: mugs

Originally posted by: JLGatsby

As a stock trader I need to judge the short term health of a company. I know how to judge earnings and revenue and other vital financial statistics.

Because some dolt on ABC said Costco is "cool," that does not mean the company is doing well relative to it's respective industry and competitors and it's "expected performance."

Do you have a hard time staying on topic? I said Costco is doing "alright." I'll upgrade that to "doing well," because that's clearly what I was implying.

I said nothing about their stock. The fact that they are the number 4 retailer in the country is proof enough for an rational person to say they're doing at very least pretty well. I'm well aware that wall street doesn't "like" Costco because they could potentially increase profits by paying their employees less. That doesn't mean they're not doing well.

And you know, for someone who likes to spout off about finance, you've proven you're pretty clueless about personal finance.

Agreed, there's gotta be a point where a person draws the line between satisfying stock holders and just doing what they feel should be done.

 

[LongCoolMother]

How about the CEO of Cisco Systems? Who for a while had a base salary of 1 dollar annually? *edit for dollar*

 

[JLGatsby]

Originally posted by: Minjin

Originally posted by: JLGatsby

Originally posted by: Minjin

Originally posted by: JLGatsby

Originally posted by: Minjin
I think you know better than this. Size of a company and how much total revenue it pulls in has nothing to do with current financial health. GM ring a bell? Or Sears Holding (Sears and KMart)?

Mark

I don't understand you using Sears as an example.

Are you suggesting that Sears Holding is in perfect health and has a bright future ahead of it? 😉

Mark

Sears Holding is the next Berkshire Hathaway since they reorganized under Eddie Lampert's control.

Where have you been?

Lampert has gained permission to invest excess profit (and the company is making a ton) in non retail related businesses.

I'm fully aware of the 'theory' that Eddie Lampert is going to use Sears Holding just like Buffet used Berkshire Hathaway, by gutting it out and using it to hold his investments. Might happen. Might not. But even if it does, Sears Holding as a retailer is dead.

Mark

"Sears Holding" is the holding company for Sears and it's investments.

Who cares about the actual retail operation? As long as profitability is maintained.

 

[JLGatsby]

Originally posted by: LongCoolMother
How about the CEO of Cisco Systems? Who for a while had a base salary of 1 dollar annually? *edit for dollar*

Please, you must understand, this is only "cash" salary.

What many companies will do is pay their CEOs only one dollar, but then pay them in stock options based on how well they performed.

Logically, their "pay" isn't "one dollar."

They didn't work the entire year for one buck.

 

[LongCoolMother]

Originally posted by: JLGatsby

Originally posted by: LongCoolMother
How about the CEO of Cisco Systems? Who for a while had a base salary of 1 dollar annually? *edit for dollar*

Please, you must understand, this is only "cash" salary.

What many companies will do is pay their CEOs only one dollar, but then pay them in stock options based on how well they performed.

Logically, their "pay" isn't "one dollar."

They didn't work the entire year for one buck.

yup. i know this. i stated it to make a point to the OP. chambers, in fact, had an income of tens of millions.