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krisi
User Rank
CEO
Re: The overpaid CEO
krisi   1/4/2014 6:30:45 PM
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The vote in switzerland was on 12:1 ratio...in USA it is well over 100:1, maybe 1000:1 if stock options are included

krisi
User Rank
CEO
Re: The overpaid CEO
krisi   1/4/2014 6:28:53 PM
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What is the ratio of CEO salalry to minimum wage in Switzerland vs USA?

otta
User Rank
Freelancer
Re: The overpaid CEO
otta   1/4/2014 6:06:59 PM
NO RATINGS
Well, 65% of Switzerland referendum voters do not agree with you so it looks that your statement "It seems we all agree that CEOs are overpaid" is quite incorrect.

_otta_

JeffL_2
User Rank
CEO
Re: Greedy CEOs
JeffL_2   1/4/2014 1:07:11 PM
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This could be THE big political challenge of the next several decades, starting with getting support and recognition of the need for reasonable reform of the existing system, since there's no "natural representation" of the middle class (although clearly the Tea Party is far from hostile to them). According to the "political elites" if you're a moderate on the left, the union system is supposed to "provide all the answers to your problems" and if you're not a union member then you're PART of the problem! If you're further to the left then you're an advocate of class warfare and income redistribution and the only possible "reform" to capitalism that's acceptable is to tear it up and start over. If you're a moderate on the right it's almost "politically incorrect" to even bring up the topic that the system is less than fair, if you're further to the right then "reform of the system" probably consists mostly of an agenda to get rid of unions altogether and to radically shrink government regardless of the consequences. And of course it's not at all helpful that the left represents the Tea Party as a social club of racist, homophobic, gun-loving redneck "haters"!

The closest that the political consultants have come to identifying the middle class as a constituency is probably "soccer moms" and that's clearly more than a little off the mark. And economists have for decades considered the measurement of economic "efficiency" nearly as important as profit itself, and historically that was OK because there were always new jobs coming to replace the ones that were lost. They never want to discuss economist David Ricardo's finding that "labor arbitrage" (which we see all the time in the form of offshoring, outsourcing and bringing in immigrants on visas and paying them very low wages) is such a fundamental disturbance to the economic system that it renders most economic models essentially worthless. Yes it's going to be a very long time before any kind of meaningful economic "equlibrium" is established, whether it's imposed by some sort of government decree or by the market itself.


Postscript: It seems there is starting to be some general interest in the topic of artificially low wages among tech workers, see http://www.cnbc.com/id/101312871 in which an analyst actually downgrades Apple and Amazon on "moral and ethical grounds".

j_b_
User Rank
Manager
Re: Greedy CEOs
j_b_   1/4/2014 9:01:08 AM
NO RATINGS
Basically if most of the people are working (hard) and over the years a higher and higher percentage of the total wealth of the nation ends up to be possessed by fewer and fewer people then something is wrong, isn't it ? I wouldn't point a finger at somebody particular. It's not an evil club of old men, it's just the "system" itself which makes that happen. Unfortunately the consequences are very unpleasant.

 

krisi
User Rank
CEO
Re: The overpaid CEO
krisi   1/3/2014 1:21:52 PM
NO RATINGS
It seems we all agree that CEOs are overpaid and this is not fair...perhaps only some CEOs will object to that statement ;-)...but they probably don't post at EE Times...the question then becomes what can be done about this? Kris

junko.yoshida
User Rank
Blogger
Re: The overpaid CEO
junko.yoshida   1/3/2014 12:27:34 PM
NO RATINGS
@Bert, you wrote:


Still, having the CEO of a company with ~100,000 employees or more paid a few hundred time more than the average worker means that it's not so much a question of his salary affecting negatively the workers' salaries. It's more a question of basic fairness, common sense, and you know, decency. Those intangibles.


I couldn't agree with you more.

junko.yoshida
User Rank
Blogger
Re: Connect the dots
junko.yoshida   1/3/2014 12:22:40 PM
NO RATINGS
@goafrit, you wrote:

Largely, you do not need a lot of money to live in Europe since most are socialized.


I do not think the CEO pay package reflects actual "needs" of a CEO. It is over here in the United States that things are so out of whack.

AZskibum
User Rank
CEO
Re: Greedy CEOs
AZskibum   1/2/2014 6:44:11 PM
NO RATINGS
One problem with the concept of "responsible to the shareholders" (owners of the company), is as Bert suggests, many of those shareholders are looking for quick returns and may in fact be shareholders only for a very short time. As an "owners," that type of shareholder has little regard for the company's health or future plans, and his behavior more closely resembles that of a gambler. Executive responsibility must -- and therefore usually does -- extend beyond the stock price movement this week or this quarter.

rich.pell
User Rank
Blogger
Re: Greedy CEOs
rich.pell   1/2/2014 5:22:25 PM
NO RATINGS
"Depending what "doing well" means, all you're saying is that keeping the stock value high is good business for the shareholder."

"Doing well" means being still in business and growing over time, which of course would be reflected in an increasing stock price over time. This would seem to be a good thing for employees.  

"HP is in the news these days, but surely you can think of many others. I can."

I can think of many successful companies too.  I'm sure you can too.



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