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Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

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Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#251

Post by jedberg »

kortilla wrote: post #80
throw0101b wrote: post #41

Earlier quoted context omitted.

> There is no training to be a good CEO. They are not easily replaceable. If Steve Jobs—who first created and then basically rescued Apple and started it on the path to where it is today—can be 'replaced' then any other leader can be replaced. Similarly there are plenty of CEOs that are paid oodles of money that were or are absolute garbage: see Boeing for the last 15+ years as Exhibit A.

He was replaced, but not with someone as good. Apple has done well under Tim Cook, but there is an obvious lack of innovative vision since Steve’s passing.

The Apple Watch launched 4 years after he died. He probably wasn't involved in that at all, or just barely. Which means that was all Cook's doing. It's now a multi-billion dollar business on its own.

AirPods launched 5 years after he died. It's highly unlikely he was involved at all. That's now also a multi-billion dollar business.

Apple Vision is about to come out. I wouldn't be surprised if that turns into a mult-billion dollar business after a few years.

Yes, Tim Cook does not have the charisma of Steve Jobs, and probably doesn't have the design sense either. But he's awfully good at putting the right people in the right places to steer the ship with him and have quite a strong vision of the future.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#252

Post by ken47 »

nemo44x wrote: post #145

Why does LeBron James make so much more than the ball boy and concession stand workers and ushers? A CEO that delivers alpha deserves a big cut of that. The board exists to hire leaders that can deliver alpha. A good deal fail to. But the ones that do are more than worth their compensation. And btw you have 0 chance of attracting the kind of CEO that can deliver alpha by offering peanuts. It doesn’t always work out a…

My understanding is that the CEO's in question are not even remotely comparable to Lebron James's stature in basketball.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#253

Post by jjoonathan »

vel0city wrote: post #78
astrange wrote: post #38

Earlier quoted context omitted.

It depends how they're counting. There was an example in Money Stuff this week where a CEO got a pay package "worth $110 million". It's actually made of stock options that vest if the share price went above $150, but the expected value was $110 million so that's what was reported. …But the share price only reached $66. So in fact he was paid zero, and he quit. (Well, $1.5 million in cash.) https://www.wsj.com/busines…

> paid zero > paid $1.5 million in cash These are two wildly different things.

Just think of all the risk that executive took by potentially only earning $1.5 million dollars! EDIT: called it, MichaelDickens just made this argument unironically.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#254

Post by lucaspm98 »

mschuster91 wrote: post #175
astrange wrote: post #159

Earlier quoted context omitted.

Sounds like they made a lot of money they wouldn't have otherwise. If they're not making that in the future, that's still better than the alternative. You could always sell to the rest of Europe, but since they're in a fiscal union with you and you refuse to deficit spend, they're not very good customers.

The problem is the car manufacturers are massively leveraged against and now China has our economies by the balls. All the CCP needs to do is squeeze them and we're in for many years of pain as we unravel our unhealthy dependency on both China and the automotive industry.

That seems more like a mismanagement of risk outside of, and confirming, the windfall from the overwhelming success of the export promotion.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#255

Post by sudosysgen »

nerdponx wrote: post #133
amarshall wrote: post #94

Earlier quoted context omitted.

> If you're the CEO of a company and you increased profits by 92% This assumes that the increase in profit is attributable primarily to the CEO. Well, that at least 43% (40/92) of it is. > Just ask for what you think you deserve and don't work if you don't get it. It's as simple as that. This only really works with unions. Fortunately, these workers have one.

> Just ask for what you think you deserve and don't work if you don't get it. This is the most wildly privileged take possible on the issue.

It's called a strike and it seems to be working. The key is that everybody does it at once.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#256

Post by chii »

wins32767 wrote: post #197
olliej wrote: post #180

Earlier quoted context omitted.

As someone pointed out "1.5 million in cash" for not doing the job you were hired for is .. not zero. I'm fairly sure I could achieve the same results for considerably less. Moreover making compensation dependent on stock price movement encourages corruption and fraud - look at the numerous Enrons and other financial claims. All of which left the majority of those responsible enriched while destroying the lives of ot…

> I'm fairly sure I could achieve the same results for considerably less. I'm highly skeptical of that. Not driving the company value to zero is worth a significant amount of money; anyone who has worked under a bad executive or CEO can tell the difference between one that didn't accomplish aggressive goals and one that's objectively bad. If you have a bunch of executive experience, maybe you'd be able to replicate t…

well the CEO's been set a target share price, and he did not reach it. Dunno if you could consider that as failing.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#257

Post by catchnear4321 »

hellojesus wrote: post #231
highwaylights wrote: post #57

Earlier quoted context omitted.

To paint the above in starker terms: Worker pay is set by the leadership, leadership pay is set by the leadership.

Leadership is set by shareholders. There is still accountability. Public unions seem more undesirable. There we have the gov negotiating with itself with no external accountability, unlike your example.

institutional ownership has entered the chat.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#258

Post by Exoristos »

ftxbro wrote: post #195

imagine a line worker comparing themselves to a ceo. tim gurner is right the workers really are becoming arrogant

The word you're looking for is "uppity." "Arrogant" is the CEO assuming he's worth hundreds of times more than a different man.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#260

Post by anigbrowl »

Alupis wrote: post #182
sgarland wrote: post #151

Earlier quoted context omitted.

A bad SRE team can destroy your company. Yet, even at the best places, you’re lucky if you get a small per diem when you’re on-call. I’m not saying SREs are poorly paid, but they often are keeping entire companies afloat, and their pay is nowhere near that of the C-Suite. If the entire SRE team quit / went on strike, there is a non-zero chance the next incident would utterly break the company. If the entire C-Suite q…

> A bad SRE team can destroy your company. Ah, and the SRE team assembled themselves, hired themselves, decided what to work on, direction, technology, plans, etc all on their own? Or is there a C-Suite running the SRE team, even if indirectly? > If the entire C-Suite quit, uh… what exactly would happen? People would continue doing what they had already been doing? This is beyond naïve, I'm not sure what to call it.…

It seems to me that a lot of these skills can and should be cultivated inside the company. Toyota famously incorporated this idea into their corporate culture from top to bottom. The company has done very well, yet the CEO's pay is modest by US standards - about $7 million this year, some 80% of which is in the form of stock options. This was a record; in recent years the job has paid in the $-5 million range. Toyota isn't the world's most bleeding edge company, but it's fair to rank it among industry leaders globally. I've never heard anyone saying they wish they hadn't bought one of their vehicles.

https://en.wikipedia.org/wiki/The_Toyota_Way

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