I hate CEOs

[Stiganator]

How do companies justify firing hundred to thousands of people making moderate salaries and then give the CEO a million dollar bonus on top off what is already 6 or 7 figures plus stock options?

Then look at the quitting bonuses they get? WTF, they get 30 million to quit??? Why do companies give away stockholders money?

 

[tfinch2]

What is this in reference to?

 

[SAWYER]

Why so jealous?

 

[Ns1]

Originally posted by: Stiganator
How do companies justify firing hundred to thousands of people making moderate salaries and then give the CEO a million dollar bonus on top off what is already 6 or 7 figures plus stock options?

Then look at the quitting bonuses they get? WTF, they get 30 million to quit??? Why do companies give away stockholders money?

1. Firing lots of people = lower expenses
2. Profit = Income Less Expenses
3. It is a no brainer then that firing people will help the bottom line, which in turn will benefit the stockholders

Severance pay is bullshit though.

 

[IEC]

Agree with Ns1, #severance is the BS one.

 

[XZeroII]

You try firing hundreds of people. Would you throw all those people into the streets for minimum wage?

 

[kranky]

What's happening is that the executives are taking the company away from the stockholders. They make huge salaries and bonuses and are granted tons of stock options. And with the golden parachutes, they have nothing to worry about. They can run the company into the ground and when their poor decisions come to light, they get the big severance payment to go away. And they get to keep all the money they were given the whole time they were ruining things.

And if things really go in the dumper (a la Bear Stearns) who gets screwed? The stockholders. The executives already got their millions, and they get to keep it.

 

[Baked]

Start your own company.

 

[jackace]

It's because of corporate corruption. The board in most corporations is full of CEOs and top executives from other top corporations. They all vote each other HUGE salaries and extravagant severance plans.

 

[Special K]

One thing I find disturbing is that the average CEO pay, as a multiple of another mid-level position's pay, has been steadily increasing over the years. Does a CEO really do the work of 1000 people? More importantly, do the CEOs of today do 100x the work of the CEOs of past years?

My multiplier numbers may be slightly off, but I have read many articles that state CEO pay as a multiple of an average position's salary in the company has been steadily increasing over the years.

 

[Epic Fail]

No easy answer.

 

[compuwiz1]

RHIP - Rank Has It's Privileges.....always has, always will. In case you are new, welcome to the capitalist society we live in.

Don't hate CEOs because they are rich. I'm sure plenty of them are really nice people who just happened to be prepared when the right opportunity came along.

 

[Skunkwourk]

great, soon someone is going to make an "I hate UFO's" parody thread.

 

[her209]

Add fund managers to that list.

 

[fishjie]

share holders should have a say in how much a CEO gets paid. if the company tanks while the CEO is running it, he shouldn't get paid nearly as much. it should all be performance based really. if they do a good job, then they deserve that kind of pay and those kind of benefits.

 

[Squisher]

The company I just retired from.

He's a real piece of work, isn't he? If I wasn't able to retire I'd be out of a job right now, out on the street.


Funny thing is I probably said everyday at work that my job was to shove as many dollar bills in that man's pockets so he'd let me shove a few in mine. For many of my coworkers, this didn't work.

 

[thegimp03]

I agree with the rant about severance bonuses for upper management. Some of that stuff is way out of line. Look, if they're getting fired because the company basically tanked under their commands, they shouldn't get shit.

About their salaries, etc., I think that a number of CEO's deserve what they get paid (certainly not all). Look at the amount of risk that the CEO is taking on in his/her position. Basically if the company fails under his/her command (but the failure is not necessarily because of something they did), the C-level management is always blamed and lawsuits are thrown at everyone involved. Also, the SEC requires the CEO/CFO to sign off on the financial statements of the corp. If a material misstatement is made on accident by some lowly accounting manager, the CEO/CFO take the blame since their signatures are on the F/S and they get put in jail a lot of times.

The BOD makes a lot of the decisions to make mass firings in large corporations, it's not always just pushed down by C-level management, they're just the ones communicating the bad news.

 

[Mardeth]

Because the difference between a good and a bad CEO can mean billions of dollars more or less as profit for the investors. A few million is a cheap price to pay for a billion.

Youd work as a CEO for say 200k a year and then make a billion in profit. An experienced and skilled CEO who work for 1 million make 3 billion...

The same goes for workers and CEO. If a worker is skilled and a hardworker, he can make 25k for the company compared to a lazy one. Again for the CEO its in the millions and billions...

 

[her209]

Originally posted by: Mardeth
Because the difference between a good and a bad CEO can mean billions of dollars more or less as profit for the investors. A few million is a cheap price to pay for a billion.

Youd work as a CEO for say 200k a year and then make a billion in profit. An experienced and skilled CEO who work for 1 million make 3 billion...

The same goes for workers and CEO. If a worker is skilled and a hardworker, he can make 25k for the company compared to a lazy one. Again for the CEO its in the millions and billions...

How does one gauge that the increase in revenue is directly related to the CEO's action and not from macroeconomics?

 

[Engineer]

I don't hate them all...I hate mine though.

 

[LS21]

Originally posted by: jackace
It's because of corporate corruption. The board in most corporations is full of CEOs and top executives from other top corporations. They all vote each other HUGE salaries and extravagant severance plans.

+
its just a big good ole boys network. get "fired" from one company, go be ceo of another company.

 

[Nitemare]

Home Depot paid Nardelli over 200 million dollars to do a job that a Mexican janitor named Pepes could have done a better job. The chain stagnated and corporate performance fell 13%. Bonuses for non-management fell by more than half and most quality associates left for greener pastures.

His reward for being a shitty CEO and making 10x the Lowe's CEO... a $210 million severence package

and getting elected CEO of Chrysler by mentally retarded board members.
the results, sales for Chrysler are down 22%.

I guess there is a shortage for absolutely horrible CEO's that these guys get recycled so much.

 

[jackace]

Originally posted by: LS21

Originally posted by: jackace
It's because of corporate corruption. The board in most corporations is full of CEOs and top executives from other top corporations. They all vote each other HUGE salaries and extravagant severance plans.

+
its just a big good ole boys network. get "fired" from one company, go be ceo of another company.

yep it's true. You can completely fail at your job and still making a huge income all while getting another job for another large company. Only happens with politics and top executives. For the rest of us if we screw up we get fired (no severance), demoted, etc.

 

[jman19]

Ok, great. What is the solution? Or is this more class and wage warfare griping?

 

[Ns1]

Originally posted by: jman19
Ok, great. What is the solution? Or is this more class and wage warfare griping?

class and wage warfare griping