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CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

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Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#11

Post by SirSourdough »

_fat_santa wrote: post #6

> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…

I don’t think there’s all that much concern about incentive packages tied to performance.

The question in my mind is: how much compensation is required to provide that incentive? And is it reasonable for that to result in a small portion of people making not just more than the typical person, but astronomically more to the point where the typical person is left very nearly broke and powerless?

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#12

Post by lm28469 »

_fat_santa wrote: post #6

> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…

Damn, why did people create companies for the past 300 years ? Why did people become entrepreneur ? They didn't have anywhere close to 400 times their workers salary, must have been a miserable life

What's the point of it all when you have enough money to sustain your entire genealogy tree from the birth of earth to the heat death of the universe ?

These people are clinically ill

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#13

Post by whatshisface »

lm28469 wrote: post #10
walkhour wrote: post #4

Earlier quoted context omitted.

What does a revolt look like? People can live in unimaginable conditions and not revolt. The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world.

CEOs getting insane pay doesn't exist in a vacuum. You can't use the "trickle down" economy as a proverbial carrot when people can't put gas in their car or heat their home while Bezos&co buy a new yacht every other day > The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world. Or I'm French, who knows ;) Continue selling ports…

Last time heads were rolling in France people were starving.

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#14

Post by klyrs »

walkhour wrote: post #4
lm28469 wrote: post #2

It's just a matter of time before people revolt, we went from something like 1:6 employee:employer comp ratio to 1:400 (and much more for a lot of companies, up to 1:5000+) If we could harvest energy from the hardcore early capitalist theorists rolling in their graves we'd have infinite energy at that point

What does a revolt look like? People can live in unimaginable conditions and not revolt. The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world.

I'm not sure about a revolt, but this is what we're seeing:

People mobbing into stores, grabbing things off the shelves, and just walking out. Sleeping in tents in massive encampments, turning parks and sidewalks into shanty towns. Pissing and shitting on the street in broad daylight.

The richest are driving up rents and housing prices in cities. Gas is increasingly unaffordable, driving up cost of living in rural areas. People who cannot keep up will find other solutions. It might not involve guillotines, but the US has more guns per capita than anywhere else in the world.

edit: what I've described above is not a revolt, per se, but it is revolting.

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#15

Post by adamedw »

DaveExeter wrote: post #5

If that pay didn't go to the CEO, who would get it? The shareholders. And who are the shareholders? The wealthiest 10% own almost 90% of stocks.

It could go to the people who produce the value in the first place: the workers.

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#16

Post by iforgotpassword »

_fat_santa wrote: post #6

> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…

No, it's not necessary. It's exactly why things like Intel's current situation happen. You get some douche with an economics background in charge that spends a decade optimizing for profit, and when you realize the company is fucked because everybody else is suddenly ahead of you, you just move on an sell your time there as a success, while the next guy tries to fix it. Which obviously means it will get pretty bad for a while, but that's ok, because when shareholders are fed up with it after a few years, you put one of those douches in charge again that can take credit for the eventual success of the previous guy's work.

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#17

Post by ajsnigrutin »

lm28469 wrote: post #12
_fat_santa wrote: post #6

> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…

Damn, why did people create companies for the past 300 years ? Why did people become entrepreneur ? They didn't have anywhere close to 400 times their workers salary, must have been a miserable life What's the point of it all when you have enough money to sustain your entire genealogy tree from the birth of earth to the heat death of the universe ? These people are clinically ill

How many companies in the last 300 years were as large as amazon or walmart?

A local hairdressing salon owner/director doesn't earn a lot more than the employees there.

Maybe it's time to disincentivize huge companies in favour of many smaller ones.

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#19

Post by lm28469 »

whatshisface wrote: post #13
lm28469 wrote: post #10

Earlier quoted context omitted.

CEOs getting insane pay doesn't exist in a vacuum. You can't use the "trickle down" economy as a proverbial carrot when people can't put gas in their car or heat their home while Bezos&co buy a new yacht every other day > The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world. Or I'm French, who knows ;) Continue selling ports…

Last time heads were rolling in France people were starving.

Well we have 10m people living under poverty, even armed with forks and spoons they'd take the Elysee in a day. Even the 42 000 homeless children living in France could take care of it

Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker

#20

Post by SirSourdough »

DaveExeter wrote: post #5

If that pay didn't go to the CEO, who would get it? The shareholders. And who are the shareholders? The wealthiest 10% own almost 90% of stocks.

If this money was distributed among the wealthiest 10% it would be far more distributed than it is now.

Most of the people driving the 399x compensation figure are in the top fraction of a percent for wealth, and even small-time CEOs are mostly well above 90th percentile earners.

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