As already pointed out, jealousy is a very evil emotion. Probably the worse there is because it leads, actually really feeds illogical thought.
As already pointed out, jealousy is a very evil emotion. Probably the worse there is because it leads, actually really feeds illogical thought.
Yes...
I guess Warren Buffett is jealous when he talks about the excessive executive compensation on Wall Street.
frostedflakes
Diamond Member
- Mar 1, 2005
- 7,925
- 1
- 81
Comments like that allow him to remain an endearing figure to the ignorant masses, even with his massive wealth.
His current or prior holdings in companies like UHG, GE, WF, etc. (all with extended periods of stagnating or decreasing performance coinciding with massive executive compensation) are rather contrary to that point of view.
Or perhaps he just likes to call it like he sees it? He has admitted some/much of his success was just being in the right place at the right time.
If you don't like it, don't invest in that company. Why do people always seem to have a hardon for executive pay when actors and sports stars can make similar amounts? If you want to compare CEO's pay to the average pay of the people in the company's workforce, try comparing a big budget film star (which all make their own share of turd movies) to the average pay of the remaining few thousand people it takes to make a movie. By the way, I believe only the first $1,000,000 of an executive's pay is tax deductible to the company and anything in excess does not reduce taxable income, not so for pay to actors and sports stars.
DrPizza
Administrator Elite Member Goat Whisperer
When the economy is booming & the company is doing great, it's all to the credit of the CEO & he gets huge fat bonuses.
When the economy tanks & the company goes down the shitter, it's the economy to blame & the CEO gets a huge fat bonus because he's not to blame.
It's the good ol' boy network.
When the economy tanks & the company goes down the shitter, it's the economy to blame & the CEO gets a huge fat bonus because he's not to blame.
It's the good ol' boy network.
This holds true in almost every other country besides the US.
Edit- Here is a link to some numbers from the PBS show NOW.
http://www.pbs.org/now/shows/311/executive-pay.html
This is true...Eddie Murphy was one of the highest paid actors last year taking in over $55 million...don't think he made any really excellent movies during that time. In fact, he made "Worst Movie of the Year" I believe with Norbit.
mugs
Lifer
- Apr 29, 2003
- 48,920
- 46
- 91
They usually are worth their salary, because the actions of executives affect the company's performance by far more than their salary.
Now, when they affect the company's performance for the worse and they still get a huge golden parachute... I don't know about that.
Now, when they affect the company's performance for the worse and they still get a huge golden parachute... I don't know about that.
Yea just like years ago when republicans got rid of all that evil and bad government regulation in the financial and housing markets. That did wonders!!!
:roll:
I don't like the idea that the guy getting all the glory for everyone else's hard work is getting paid the most.
BUT
I believe it's justified. Think about this: They might get all the glory if things go right, but they also get all the ridicule if things go wrong. In some companies and industries, CEOs don't last long.
A lot of times CEOs are paid because of the connections they have. The average worker at the bottom of the chain may bust his as for what the CEO makes in a day, but that doesn't entice people to do multi-million dollar deals with your company, now does it? I can't remember where it's from, but some of you may have heard the quote "Business doesn't get done in meetings, business gets done playing golf." For a CEO, their LIFE is the company's life. Every moment they are awake is part of a business deal and everything they do is scrutinized as a reflection of the company. They are being paid to stay out of trouble as much as they are anything else.
I do think some salaries are completely outrageous. But I also think that the companies that pay them are more in tune with WHY they are paying these people than I am, and if a company can justify the money spent on these people, what decent reason do I have for complaining?
BUT
I believe it's justified. Think about this: They might get all the glory if things go right, but they also get all the ridicule if things go wrong. In some companies and industries, CEOs don't last long.
A lot of times CEOs are paid because of the connections they have. The average worker at the bottom of the chain may bust his as for what the CEO makes in a day, but that doesn't entice people to do multi-million dollar deals with your company, now does it? I can't remember where it's from, but some of you may have heard the quote "Business doesn't get done in meetings, business gets done playing golf." For a CEO, their LIFE is the company's life. Every moment they are awake is part of a business deal and everything they do is scrutinized as a reflection of the company. They are being paid to stay out of trouble as much as they are anything else.
I do think some salaries are completely outrageous. But I also think that the companies that pay them are more in tune with WHY they are paying these people than I am, and if a company can justify the money spent on these people, what decent reason do I have for complaining?
Problem is those workers probably aren't exactly qualified to make decisions on what to do with the future of the company. They may be able to do tasks they are trained at...
I don't think people understand how much money big businesses really make, and that the responsibility a single executive holds is well worth the amount of pay they are giving themselves. Don't think of it as a person getting a lot of money, think of it as a resource that is critical to the success of the company. Without good executives a corporation is nothing. The money they are payed is miniscule in comparison to the money they are responsible for.
Here's the perfect naive example. Executives are hired for their decision making ability, not how many pens they can put together each hour or how many license plates they can stamp out in a day. An executives productivity is not limited by manpower...
Here's the perfect naive example. Executives are hired for their decision making ability, not how many pens they can put together each hour or how many license plates they can stamp out in a day. An executives productivity is not limited by manpower...
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
yea, for the most part, they're worth it.
there's a reason why they're running publicly traded companies and we're not
there's a reason why they're running publicly traded companies and we're not
The salaries and options didn't explode until the Sarbanes-Oxley Act was passed. Why? Because suddenly you had to have a diamond-pure record, the risk of being an Exec/CEO was much higher-- if there were accounting errors, you could suddenly be jailed, even if it wasn't your fault. It's impossible to know every single detail of the finances of some of these larger corps, so what you're getting into is simply a gamble-- the CEO says "I am willing to risk being jailed for life from working at your company for $XYZ million." The market of CEOs as a whole immediately demanded that due to the higher risk.
Also, it has to do with motivating the 10 or so people working directly under the Exec working to take his place.
Also, it has to do with motivating the 10 or so people working directly under the Exec working to take his place.
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