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Posted on 9/15/23 at 1:50 pm to SlowFlowPro
quote:
Ok..and
And socialists hate that.
Posted on 9/15/23 at 1:54 pm to justaniceguy
Why should I worry about what a CEO makes at a private company?
Posted on 9/15/23 at 1:56 pm to Taxing Authority
quote:
100 years ago if you were a really good riveter, you'd make a good living. Now a robot does it.
And what more does a ceo do now than 100 years ago other than churn out WEF propaganda and take government bailouts for incompetence? Why should they be the only benefactors of mechanization?
This post was edited on 9/15/23 at 2:04 pm
Posted on 9/15/23 at 1:56 pm to Lsupimp
quote:
The problem imho is that The State has to a large extent disincentivized the TRUE Free Market. And quoting political/economic philosophy becomes like white knighting for the prevailing State power grab. I don't really see GM like a legit private company that can fail. I see it as a State partner.
That's a really good analogy.
Major banks, auto makers, Amazon, Facebook- they're less business and more government partner.
Also hunts as to why government is after Elon.
Posted on 9/15/23 at 1:57 pm to BilbeauTBaggins
quote:
be the best interest of Americans, not whoever is in his pockets.
Lol he let lockhead come build war planes in vermont. His state profits off of war.
Posted on 9/15/23 at 1:58 pm to Lsupimp
quote:
This is not a value statement but rather a statement of fact; Huge income inequality destabilizes societies.
Correct. It has gotten out of hand with these wealthy people and companies basically lobbying and shadow ruling us.
Posted on 9/15/23 at 1:58 pm to Lsupimp
quote:
Huge income inequality destabilizes societies.
No it doesn't. Societies have always has the extremely wealthy who live in castles and luxury. They have come, prospered, and gone. They are super rich but a ridiculously small subset of the driving economy. It's just not a factor.
Apart from major outside forces like war, pestilence, plague, drought, etc, the only thing that can truly destabilize market economies is government regulation.
Posted on 9/15/23 at 1:58 pm to SammyTiger
quote:
Could an entry level Gm employee pay for Stanford today?
If he or she was in the right demographic, he/she wouldn't have to afford it. Hell, all Ivy League financial aid is need based. The true question would be whether that entry level employee was willing to pay the price in terms of scholastic effort to qualify. And FYI - she got her MBA at Stanford. Her undergraduate degree was from a school that was basically a technical trade school that partnered with GM.
Posted on 9/15/23 at 2:00 pm to pankReb
If corporations are not going to self govern themselves and be more equitable. The the only recourse would be government, which I would not recommend.
Posted on 9/15/23 at 2:02 pm to UnrealMFer
quote:
It's just not a factor.
When you include the wealth of companies and endowments it is a factor on us peasants. They are shadow ruling over us.
Posted on 9/15/23 at 2:12 pm to lsu13lsu
Prophetic article from a billionaire on this very topic a decade ago warning that the pitchforks are coming:
Politico
Politico
quote:
At the same time that people like you and me are thriving beyond the dreams of any plutocrats in history, the rest of the country—the 99.99 percent—is lagging far behind. The divide between the haves and have-nots is getting worse really, really fast.
In 1980, the top 1 percent controlled about 8 percent of U.S. national income. The bottom 50 percent shared about 18 percent. Today the top 1 percent share about 20 percent; the bottom 50 percent, just 12 percent.
But the problem isn’t that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution.
No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out. You show me a highly unequal society, and I will show you a police state. Or an uprising. There are no counterexamples. None. It’s not if, it’s when.
This post was edited on 9/15/23 at 2:13 pm
Posted on 9/15/23 at 2:12 pm to LSU82BILL
quote:
Her undergraduate degree was from a school that was basically a technical trade school that partnered with GM.
she got her undergrad from Kettering a private university that partnered with GM and costs 40k to go to currently
Posted on 9/15/23 at 2:16 pm to Oilfieldbiology
quote:
CEO salaries have absolutely ballooned to insanely high levels. I know there is stress, I know they make multi billion dollar decisions, but their compensation ratio to the median compensation of their companies has skyrocketed.
I’m very far from a communist or socialist, but I can agree that CEO salaries seem exorbitant
Because the size of organizations has ballooned to an insane ratio of workers to CEO.
The way to cap CEO pay is to cap market share in an industry. I'm not advocating for that, but if you understand that a CEOs comp is directly based on the value of the organization, you understand how it's the value of the organization that needs to be reigned in if you want to close the gap.
Posted on 9/15/23 at 2:17 pm to BoudinChicot
quote:
But the problem isn’t that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day.
Thank you.
Posted on 9/15/23 at 2:22 pm to rrboy
and if the ceo fricks up their job no one makes money
Posted on 9/15/23 at 2:25 pm to DVinBR
quote:
if the ceo fricks up their job no one makes money
That's not true. The CEO gets paid. Everybody else might be fricked, but the CEO never is.
Posted on 9/15/23 at 2:25 pm to Fun Bunch
Joe Burrow is also a union worker
Posted on 9/15/23 at 2:26 pm to DVinBR
Sure they do. Workers get laid off, company gets a bailout and CEO either gets a golden parachute or a lateral move to another fortune 500 company, or both.
You cannot provide a single rationale for current exec compensation being anywhere near proportional to the value they bring to a company.
You cannot provide a single rationale for current exec compensation being anywhere near proportional to the value they bring to a company.
Posted on 9/15/23 at 2:28 pm to BoudinChicot
You think a board of another company would appoint a CEO that made another company go under?
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