Busting the “Paid What You’re Worth” Myth

[newwurldmn]

only difference is one is also a shareholder and the other is not.

The shareholders (often through a proxy like a board of difectors) determine the compensation of the CEO.

There's a difference between a founder and a CEO, who is a paid employee who is supposed to meet targets. However, many don't and continue to get paid extravagantly. And, it's rather uncommon nowadays for a CEO to spend their entire career in one company and your strawman is ridiculous.
But yes, the savings from C level significant pay cuts could and would filter down to shareholders, wouldn't it? Of course, the alternative would be to increase employee salaries so that C levels could claim more income too...
Yes, I suppose so e companies would try to find a work around to my proposed rule. But I'm sure our government would find ways to prevent such abuses.

 

[Frederick Foresight]

The shareholders (often through a proxy like a board of difectors) determine the compensation of the CEO.

Board directors, some of whom are CEOs of other companies, voting for outrageous salaries for the CEO so that the same CEO in question -- a board member of other companies -- will vote for the ridiculous compensation packages for them at their companies. Round and round we go.

 

[Frederick Foresight]

I never said politicians are corrupt and regulations are not the answer. Maybe another poster did. I said people are different.

My mistake. You replied to a post of mine which was in response to another poster referring to the corruption and so on.

 

[gkishot]

Yep. And if you manage your ship to the ground you should not be rewarded. That’s fair.

Who is to decide what's fair or not. Definitely not some "intellectual" outsider who never was a worker or a CEO. Everybody in the business knows the risks and what the CEO and the worker are worth for the business.

 

[Frederick Foresight]

...I didn't see the video but saw some of the comments...

nb OP seems oddly defensive about any criticism of the video.

Spend the ~4 minutes watching the video. Then post.

 

[Frederick Foresight]

Everybody in the business knows the risks and what the CEO and the worker are worth for the business.

Does that include you? Do you know what they're worth?

 

[SunTrader]

Power wins.

Workers can get some power by uniting.

Its amazing how so many with so little, relatively speaking, are against workers simply uniting.

Typical of life in America 2023, where many don't even talk to or know who their next door neighbor is.

 

[Frederick Foresight]

Power wins.

That was the gist of the video.

 

[newwurldmn]

Board directors, some of whom are CEOs of other companies, voting for outrageous salaries for the CEO so that the same CEO in question -- a board member of other companies -- will vote for the ridiculous compensation packages for them at their companies. Round and round we go.

I'm not disagreeing with you that shareholders should take a more active stance on executive pay.

But this has nothing to do with the workers comp.

Let's be honest you don't give a fuck what McDonald's workers get paid. You only care what the CEO gets paid. And the same is true for Robert Reich.

 

[newwurldmn]

Power wins.

Workers can get some power by uniting.

Its amazing how so many with so little, relatively speaking, are against workers simply uniting.

Typical of life in America 2023, where many don't even talk to or know who their next door neighbor is.

Workers have a lot of power. Most just don't create a lot of impact to earn more in wages. No one will pay a worker more than the company earns from his labor.