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What is with this blatant pro capitalist bulls... almost everywhere for the last two centuries
Capitalism has carried more people out of poverty in the past 30 years than any other form of progress. With it freedom has been brought
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What? They just reported 4.9% inflation this morning.
2nd deriv is negative and we're likely to overshoot, hence, the decision and article about it
Yet CEO's bonus in 2022 was 20x bigger than his salary. I don't think it will be less this year either; with all-time high stock price and these "cost cuts", he will be wholesomely rewarded.
This kind of comment woups not have been here like 3 years ago. It was an amazing journey to watch HN denisens adjust their opinions as they went from creme de la creme and 'anyone can create a unicorn tonorrow' to, you know, being basically like a plumber but for JSON.
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So the people that gain the most income from stock decide to limit the income of those who don't. So their salaries effectively increase.
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I own 100 stock and are paid 150,000 - coder
I own 1,000,000 stock and are paid 1$ and 150,000 stock - CEO
- CEO: "I am freezing wages"
- Stock goes up 10% Year to Year (say 100->110$)
- inflation was 10%
coder: salary is effectively 135k, ($15k loss), stock went up 1k
CEO: salary is down to 90 cents (10 cent loss), stock went up $10,000,000)
HN commenter who apparently things they are some great economist but quite obviously can't do basic math:
"But everyone gets to own stock!!!"
So to the meat, does the employee have the option to be 100% compensated in stock? NO. The CEO is effectively compensated that way, and LOVES IT because the effective tax rate on long term capital gains is 15%. You know, I would have LOVED to have been compensated in 50% stock or some equivalent with stock options (backdate me pleeeze like the CEO of UHG got to!)
So maybe I'd take your dumb comment at face value if everyone got to participate in the great executive tax fraud, but... we don't.
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That doesn't prevent you from trading the stock and making (or losing) money.
Sure, but there is a clear disparity between how much you make on the amount of stock you can reasonably have versus how much executives make on the amount of stock they have. The parent comment implies there is some kind of level playing field here, which there really isn't.
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Every time a company is one day telling the employees that they need to take a pay cut to keep the company "competitive" (and this pay freeze is actually a pay cut), and the next day they're doing a stock buyback and the C-Suite is giving themselves enormous performance bonuses they need to worry about unionization.
Not to sound too much like a libertarian, and I'm not against unions, but isn't this something that can be more or less corrected by a lot of engineers finding work elsewhere? It's not like Microsoft has anywhere near a monopoly on the software engineering space anymore, and most of the engineers there can probably adjust to remote work without too much of an issue. Then we get the cycle of Microsoft complaining that…
In the long run sure. But in the short run, employment is sticky. Especially in the professional world.
Yet they're making huge stock buybacks and profits each quarter... something is fishy. This is going to royally backfire as soon as the first big tech company blinks and starts hiring and poaching frustrated engineers. The exact same thing happened in the aftermath of '08 where companies that cut and held salaries flat were scrambling in '09 to retain and keep engineers--I distinctly remember Microsoft doing an acros…
Reposting a comment from Reddit[1]: Microsoft has been bleeding talent for the last 5-6 years due to low compensation. It's why the SLT authorized a "correction" in pay last year that saw many people get a significant pay bump. Lots of new college hires have even stated that Microsoft's offer was the lowest offer they received. Levels.fyi tells basically the same story as well if you compare Microsoft to many other t…
Every time a company is one day telling the employees that they need to take a pay cut to keep the company "competitive" (and this pay freeze is actually a pay cut), and the next day they're doing a stock buyback and the C-Suite is giving themselves enormous performance bonuses they need to worry about unionization.
oh Zebra.. never change.
https://chainstoreage.com/zebra-acquires-reflexis-575-millio...