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Message
re: This is whats wrong with corporations these days
Posted on 1/15/26 at 9:22 am to Volvagia
Posted on 1/15/26 at 9:22 am to Volvagia
Golden parachutes are the good ole boy networks of Corporate Boards. All the board members are CEO’s or COO’s of other companies and they all approve each others salaries and buyouts.
0
Posted on 1/15/26 at 9:48 am to HouseMom
quote:
The premise of the OP is that CEO's are paid too much relative to the average worker, but isn't this just the free market doing it's thing?
No, it's rational actors doing what's perceived to be best for them as individuals within the paradigm in which they find themselves in. To add form to the hypothetical, let's say that the State no longer acknowledges the fictional "juridical person" known commonly as the "corporation", particularly removing limited liability protections. If every person who owned equity shares of a given business was also personally liable for its damages and debts, do you believe that the current paradigm we find ourselves in: short term investors demanding short term profits and paying exorbitant CEO salaries in order to get them, would exist? Or would people likely behave differently?
If you believe the latter, then definitively no, this is not the "free market" at work.
Posted on 1/15/26 at 9:52 am to FLObserver
quote:which also usually includes cutting expenses to the absolute bare bones in all corners of the company, travel and accommodations for the executives excluded of course.
company performance
Company I work for puts drivers in flea bag motels when their trucks are in the shops, but the bosses are staying at 3* minimums with their mid level rental cars and airfare.
Posted on 1/15/26 at 9:56 am to FLObserver
quote:
Well how do you save money quickly and show increased company performance? Cutting the workforce and expecting more work from current employees.
Posted on 1/15/26 at 10:37 am to Kenna City Solja
quote:
What’s wrong with you people?
You don’t like pizza parties?
A pizza party on casual Friday is a slice of heaven. But make sure you clock out every time you grab a slice of pizza. They're not paying you to stuff your face.
Posted on 1/15/26 at 10:46 am to Kenna City Solja
quote:
What’s wrong with you people?
You don’t like pizza parties?
I prefer waffle parties.
Posted on 1/15/26 at 11:05 am to Horsemeat
quote:
which also usually includes cutting expenses to the absolute bare bones in all corners of the company, travel and accommodations for the executives excluded of course.
Company I used to work had a couple of jets used by corporate people to go out to various plants. Used as a cost savings measure vs paying for commercial flights and hotel stays.
New CEO comes in and bans anyone below VP level from getting on the jet. Even if they’re needed at the site. So now you’ll have a contingent going from corporate to a plant, but half are taking the jet and the other half are now flying commercial and staying in a hotel (on company dime). Costs more, but CEO I guess just didn’t want to breathe the same air as a manager/director.
Also that same CEO graduated from a big football school in another state and he and his family take the corporate jet 8-10 saturdays a year to go watch their games.
Must be nice.
Posted on 1/15/26 at 11:16 am to baldona
quote:
If O&G people are working 2-3x as hard now, why were they only putting in 30-50% effort in the first place? Because they certainly can’t do more than 100% effort.
Life is a marathon not a sprint. Sure, I can go balls out for about 400 meters (short run) but impossible to keep up that pace for the long haul.
Frick these corporate elites. I believe in a free market economy, but things like this is why I also see the reasons that, gasp...unions are necessary so the average guy doesn't just get run over.
Posted on 1/15/26 at 11:22 am to Funky Tide 8
quote:
I prefer waffle parties.
Posted on 1/15/26 at 11:24 am to HouseMom
quote:
Is it though? People overwhelmingly misunderstand how employee pay is determined, as if the U.S. uses a socialist jobs program and somehow all jobs are equal in value. A person is not not paid, the job is paid.
For example, years ago I was talking with a teacher friend, and she was going on and on about how unfair it is that bus drivers aren't paid as much as teachers. Her line of thinking was that they are so important because they get the kids to school safely, yada yada.
Ok sure, bus drivers are important, but let's be honest, anyone with a half functioning brain and a license can do that job. To become a teacher, one must have a bachelor's degree and pass licensing exams, at a minimum. All teachers can drive a bus, too.
Thus the pool of potential bus drivers is huge, and the pool of potential teachers is much, much smaller. It's the same reason doctors are paid exponentially more than nurses, and nurses are paid exponentially more than the janitors. All doctors can clean a bathroom, but virtually zero janitors can perform surgery. Human value does not play into that equation.
How many Americans do you think have the skill set to run a major corporation, much less a bank with a trillion plus? Please reference the "If you can't pay cash for it, you shouldn't buy it" crowd here. CEO's are paid to make money for the company and to make the asset valuable on paper. Period. They are beholden to the board and the shareholders.
Now, SHOULD a person be able make that much more than other employees is a totally different conversation.
I'm in agreement with you for the most part.
But someone else mentioned earlier the scenario where a CEO will often times be a board member of several other companies.
An extreme example would be 10 companies with 10 CEOs, and each CEO sits on the board of the other 9 companies.
The boards determine the compensation for the CEO, so they all do each other a favor and vote to give each other a raise.
That is a very simplistic example, but it illustrates the conflicts of interest that can occur when corporate boards are like the "good ole boy" system, and how CEO compensation inflation can occur at higher rates than that of the worker-bees.
Posted on 1/15/26 at 11:34 am to JohnnyKilroy
quote:
Company I used to work had a couple of jets used by corporate people to go out to various plants. Used as a cost savings measure vs paying for commercial flights and hotel stays.
New CEO comes in and bans anyone below VP level from getting on the jet. Even if they’re needed at the site. So now you’ll have a contingent going from corporate to a plant, but half are taking the jet and the other half are now flying commercial and staying in a hotel (on company dime). Costs more, but CEO I guess just didn’t want to breathe the same air as a manager/director.
Also that same CEO graduated from a big football school in another state and he and his family take the corporate jet 8-10 saturdays a year to go watch their games.
Must be nice.
Most executives are on independent employment contracts, so if your CEO is using the company jet to attend football games, it must be part of his contract. That is on the board of directors for approving that.
If it is not part of the CEO's contract, then the board is negligent if they are not taking action to curtail it.
Posted on 1/15/26 at 11:47 am to HouseMom
quote:
quote:Executive pay is ridiculous compared to employees
Is it though?
quote:
Now, SHOULD a person be able make that much more than other employees is a totally different conversation.
The statement you quoted and disagreed with is the opening salvo to the question you ended with. Nobody is saying that CEO’s shouldn’t be making millions of dollars, but why should a CEO that ran a company into the ground get a 10 figure golden parachute?
Posted on 1/15/26 at 11:51 am to Joshjrn
quote:
If every person who owned equity shares of a given business was also personally liable for its damages and debts, do you believe that the current paradigm we find ourselves in: short term investors demanding short term profits and paying exorbitant CEO salaries in order to get them, would exist? Or would people likely behave differently?
I would say shareholders take on a ton of liability just by investing. If the CEO takes the company in the toilet, a lot of people lose. You're just hiring a very expensive poker player to make sure a company makes money. And truthfully, every person on here depending on their 401k to grow wants the same thing.
Not to mention, the annual compensation of this lady wouldn't hardly make a blip on anyone's paycheck. Pretend she's paid in just cash and no other "compensation" types. Say she's now paid a straight $5 million per year and you divided up that other $25 million for the employees. Citigroup employs over 200,000 people. That's a whopping $125 per employee annually.
What is "fair" to pay her? How do we decide that? Again, I'm not white knighting for CEO's over here, I just think that the "big bad corporation" thing is a little overplayed. Mom and pop businesses operate the same way, albeit on a much smaller scale.
Posted on 1/15/26 at 11:51 am to HouseMom
quote:
The average CEO is playing the same game Lane Kiffin is playing, and some in BR act like he's the second coming of Jesus himself.
This is a totally unrelated and a poor parallel. Also, don’t think people are happy about college coaches buyouts?
Posted on 1/15/26 at 11:55 am to FLObserver
Exactly what is happening in hospitals across the country. Sacrifice patient safety by controlling staffing ratios.
Posted on 1/15/26 at 11:55 am to FLObserver
Not to the OP specifically…
Here’s the conundrum: if you own any stock, even thru an ETF or mutual fund, of one of these companies run by fat cat exec, you are part of the problem.
Own one share of VTI? Don’t complain.
Here’s the conundrum: if you own any stock, even thru an ETF or mutual fund, of one of these companies run by fat cat exec, you are part of the problem.
Own one share of VTI? Don’t complain.
Posted on 1/15/26 at 11:56 am to TulsaSooner78
quote:
But someone else mentioned earlier the scenario where a CEO will often times be a board member of several other companies. An extreme example would be 10 companies with 10 CEOs, and each CEO sits on the board of the other 9 companies.
This is on Congress, in my opinion, to either allow this or don't. Is this possibly an antitrust issue or monopoly of sorts? I'm sure our resident attorneys will chime in.
Posted on 1/15/26 at 11:58 am to BabyTac
You're such a stupid friggen moron
Posted on 1/15/26 at 12:06 pm to FLObserver
The amount i don't give a shite about CEO pay compared to where my tax dollars go can't be calculated.
Posted on 1/15/26 at 12:19 pm to Oilfieldbiology
quote:
This is a totally unrelated and a poor parallel. Also, don’t think people are happy about college coaches buyouts?
It's not unrelated at all. My entire point is that a job costs what a job costs at a certain moment in time. How many people out there have the skills to coach a team like LSU? You can get a much cheaper coach to do it, but you're betting on a winning one.
Successful seasons put butts in the stadium, who will then buy concessions and merch. They also won't complain about season ticket prices going up because they're having so much fun. LSU as a whole benefits, as teenagers around the country think Louisiana looks like a good time. Also, ask any business owner in town if their sales are affected by the success (or not) of LSU football in any given year.
Toodle on over to the TD sports boards. People were calling for Brian Kelly's head. I'm suprised folks weren't marching on the TAF office with pitchforks.
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