Everyone loves to scream "Hey too bad, global competetion". Do they not realize that, we can improve our "cost efficiency" without reducing the wage/benefit? EatSpam raise seriously valid points about our completely retarded corporate culture in the US. Executives in US are overpaid, overcompensated, and over-rated. Incompetent executives running healthy companies into the ground became our norm. Yet, these morons are paid in millions for their failure and given numerous chances at ruining other corporations by their "good ole boys".However, as with any company, hard-working top executives who's willing to take "reasonable" pay is few. Even in Japan, there are tons of executives who takes in bribes and cooks the book. In fact, many of the Japanese brand-name companies are kept floating by loans handed out from the bank, even though these companies are practically financially-insoluble.
Whenever someone touts Walmart and/or Global labor whoring, I love to shove Costco in their face. There are several articles written recently comparing Walmart & Costco. The biggest difference between Walmart & Costco is how they treat their labor. We all know how Walmart treats their employees, so let's just think that Costco is the Anti-Walmart. Costco pays their employee above average wages for the area. One article cites that Costco pays $15/hr for their typical unskilled retail/warehouse workers. That's easily 2x the amount of Walmart employee. Along with higher wages, Costco actually provide decent healthcare and benefits for their employee. Compare that to Walmart, who uses public services as their employee healthcare and benefits. And how much does Costco CEO gest paid in cash? Not even a million.
Remember, the money paid to the workers are the essential lifeblood in our economy. Any moron who have taken economics class can tell you how important it is for business to have many customers who's "willing and ABLE to buy" their product. As the majority of populace have lesser financial freedom, the whole economy suffers. There are too many people in power going for maximum short-term profit at the cost of long-term future. But then again, who cares? Average Joe can go buy his latest and cheap gadget, while the top executives gets to spend their cash on bling-bling.
Facebook
Twitter