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1 Vicious Babushka  Wed, May 1, 2013 5:45:51am

Of course, wingnuts will insist that Michael Duke works 1,000 times HARDER than all those moochers and layabouts who stock the Walmart shelves and attend the register stations.

2 Romantic Heretic  Wed, May 1, 2013 5:48:08am

In my opinion that’s because of a delusion that CEOs, other upper management and many others share: that upper management of companies are capitalists, and that capitalists are wealthy.

But they are not capitalists. Actual capitalism is risky. Most capitalists lose their shirts several time before they even begin to make a living, and most only make a living. Damned few become rich.

What CEOs and other upper management are is employees. Executive employee, but employees nonetheless. Until they realize that this problem won’t go away.

3 Vicious Babushka  Wed, May 1, 2013 5:53:02am

re: #2 Romantic Heretic

In my opinion that’s because of a delusion that CEOs, other upper management and many others share: that upper management of companies are capitalists, and that capitalists are wealthy.

But they are not capitalists. Actual capitalism is risky. Most capitalists lose their shirts several time before they even begin to make a living, and most only make a living. Damned few become rich.

What CEOs and other upper management are is employees. Executive employee, but employees nonetheless. Until they realize that this problem won’t go away.

One frequently-heard excuse for bloated CEO pay is “they have a unique and rare skill set, and if they are not paid what they are ‘worth’ some other company will snatch them up.”

Guess again.

4 Skip Intro  Wed, May 1, 2013 8:42:16am

Ron Johnson, JC Penny’s failed CEO, was making 1795 times more than his average worker.

bizbeatblog.dallasnews.com

5 Eclectic Cyborg  Wed, May 1, 2013 9:07:32am

re: #3 Vicious Babushka

One frequently-heard excuse for bloated CEO pay is “they have a unique and rare skill set, and if they are not paid what they are ‘worth’ some other company will snatch them up.”

The ability to colossally fuck things up and not give a shit while taking as much for yourself as possible is not a “rare skill set”.

What blows my mind is these can people can totally ruin one company, bail with millions and then get HIRED ON TO DO THE SAME THING at another company!

Hardly ANYONE else in the labor force gets that kind of sweet deal.

6 Decatur Deb  Wed, May 1, 2013 9:09:01am

re: #5 Eclectic Cyborg

The ability to colossally fuck things up and not give a shit while taking as much for yourself as possible is not a “rare skill set”.

What blows my mind is these can people can totally ruin one company, bail with millions and then get HIRED ON TO DO THE SAME THING at another company!

Hardly ANYONE else in the labor force gets that kind of sweet deal.

Requires at least an MBA.

7 Romantic Heretic  Wed, May 1, 2013 9:51:49am

re: #6 Decatur Deb

Requires at least an MBA.

The best book I ever read on running a business made it clear you do not hire MBAs under any circumstances.

8 EPR-radar  Wed, May 1, 2013 2:06:38pm

re: #2 Romantic Heretic

In my opinion that’s because of a delusion that CEOs, other upper management and many others share: that upper management of companies are capitalists, and that capitalists are wealthy.

But they are not capitalists. Actual capitalism is risky. Most capitalists lose their shirts several time before they even begin to make a living, and most only make a living. Damned few become rich.

What CEOs and other upper management are is employees. Executive employee, but employees nonetheless. Until they realize that this problem won’t go away.

Of course, they are never going to realize this because it is in their best interest to buy into the fairy tales they use to justify their skimming.

Executive compensation in the US usually comes down to embezzlement made legal with a few fig leaves of corporate governance.

9 DO WINGNUT WORDS SHOW THEY EVOLVED BRAINS?11!!  Wed, May 1, 2013 3:53:57pm

re: #7 Romantic Heretic

PG:63 “True Leadership must be for the benefit of the followers not the enrichment of the leaders”
And this was written 40 years ago.


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