Highest paid job with least amount of effort

[nosivad_bor]

Let's say that these people add no value. What is the solution? In a free market, these companies would have dead weight and wouldn't be competitive and others would prosper and thrive and these would fail. But no, we can't have that. We need to bail them out.

But in today's economy, these companies aren't allowed to stand on their own. For the sake of the little guy, we need to punish the wealth creators at the top by garnishing their wages. We can't allow the little guy any pain. That is reserved for people making $250k or more a year.

This is true though: when the government comes in and sets wages for the top earners, they will leave if they can do better elsewhere. What a way to get an industry going again.

Mike there is no solution to corrupt people. You can try to change their morals but they believe they deserve this money. Their ego commands it and their cronies keep stroking that ego and ride the coat tails into the next position.

We all know about the Japanese businessmen that kill themselves if the company goes under, we'll that is a very honorable culture and a little extreme but highlights why we are fucked up. At any point at time the public can boycott a company they don't like, but they never will because it will wreck the "American lifestyle" of wasteful consumerism. The problem is American culture.

 

[JohnK]

US Senator

Did you have to bring Ted Kennedy into this?

 

[2FUELS]

"Consultant" is THE best way to earn scads of dough and literally do nothing...If the firm tanks after your advice, they obviously were not following your well thought out strategy. Cash the checks and move on to the next firm.

 

[spydrjon]

US Senator

BINGO!

 

[Mike_Rupp]

Mike there is no solution to corrupt people. You can try to change their morals but they believe they deserve this money. Their ego commands it and their cronies keep stroking that ego and ride the coat tails into the next position.

We all know about the Japanese businessmen that kill themselves if the company goes under, we'll that is a very honorable culture and a little extreme but highlights why we are fucked up. At any point at time the public can boycott a company they don't like, but they never will because it will wreck the "American lifestyle" of wasteful consumerism. The problem is American culture.

Rob, there will always be corruption in the workplace. The question is how to address it. Morals, like a person's personality, can't be changed. Ultimately, it is a question for the board of directors who represent the interests of the owners of the company: the shareholders. It is not a question for the government. If the owners of the company evaluate the situation and determine it to be corrupt, the owners will sell shares thus lowering the value of the company and the wealth of the corrupt people in question. This system of checks and balances has worked because it was a system in which actions have consequences. That is not so anymore. There is no consequence because the company will simply bail them out.

What has me more worried is the cozying up between large businesses and government. Take GE for example. They own NBC. They also are first in line to be handed billions in R&D money for "green" technology. Don't you see a slight conflict of interest?

 

[landrovered]

Mike,

I don't think we disagree that much, the problem is the "invisible hand" is busy jerking off the dick of government.

In many instances the members of the board/corporate officers vote themselves into royal status and the value that they transfer to themselves is hidden or obfuscated from the shareholders.

It is partly the fault of the shareholders because they don't follow the ins and outs of corporate governance in the stocks they buy and the institutional buyers representing the mutual funds and pensions are just hoping to get there themselves one day or in very rare cases will mount a proxy battle and throw someone out on the street. They land softly though because the parachute is part of their compensation package and they know it the first day the punch the clock.

 

[jim-00-4.6]

Usually, I land on the "free market" side of discussions.
But, really?
Shareholders will vote out the morally bankrupt?
I've owned some individual shares in my life; complete with proxy ballots, etc.
Do you REALLY think my single vote (or 10 votes, or 100) makes ANY DIFFERENCE AT ALL?
Typically, shares are owned in blocks by funds. Do you REALLY think anyone, anywhere managing this shit gives 1 single fuck about anything other than making another .05%?

How do I "boycott" Goldman Sachs?
Please. Tell me. I'm all on board with that.
Oh.
Wait.
They don't actually make anything I can not buy.
So, that'll work out well.

Our corporate overlords run this country.
They don't even try to hide it any more.

Boycott? Really?
Good luck finding anything that isn't make in fucking china.
When there aren't any options, you're kinda stuck. And that has nothing to do with watching american idol or michael jackson.

Corporate America has the salaries. In my book, you need to add a shitpile of "value" to be worth 10s of millions of dollars a year.
Athlete, CEO, whatever. I just can't relate.

 

[nosivad_bor]

Usually, I land on the "free market" side of discussions.
But, really?
Shareholders will vote out the morally bankrupt?
I've owned some individual shares in my life; complete with proxy ballots, etc.
Do you REALLY think my single vote (or 10 votes, or 100) makes ANY DIFFERENCE AT ALL?
Typically, shares are owned in blocks by funds. Do you REALLY think anyone, anywhere managing this shit gives 1 single fuck about anything other than making another .05%?

How do I "boycott" Goldman Sachs?
Please. Tell me. I'm all on board with that.
Oh.
Wait.
They don't actually make anything I can not buy.
So, that'll work out well.

Our corporate overlords run this country.
They don't even try to hide it any more.

Boycott? Really?
Good luck finding anything that isn't make in fucking china.
When there aren't any options, you're kinda stuck. And that has nothing to do with watching american idol or michael jackson.

Corporate America has the salaries. In my book, you need to add a shitpile of "value" to be worth 10s of millions of dollars a year.
Athlete, CEO, whatever. I just can't relate.

To boycott Goldman would take real commitment. You would need to investigate all the companies which do business with them and then single them out. It ends up becoming a political cause that would require the participation of a large group to have any effect. I'd bet these groups already exist, you just need to seek them out, join in and participate.

China? I have no beef with them. Again it is the consumer who demands low prices that has caused this shift. I would like to go back to the days when shit cost way more, lasts way longer and is made locally.

We can agree that most executives are not bringing enough value to justify thier pay. I am not going to devote my life to correcting this injustice. I simply live with it and find happiness in my own way. It's much less stressful this way.

 

[Mike_Rupp]

Mike,

I don't think we disagree that much, the problem is the "invisible hand" is busy jerking off the dick of government.

In many instances the members of the board/corporate officers vote themselves into royal status and the value that they transfer to themselves is hidden or obfuscated from the shareholders.

It is partly the fault of the shareholders because they don't follow the ins and outs of corporate governance in the stocks they buy and the institutional buyers representing the mutual funds and pensions are just hoping to get there themselves one day or in very rare cases will mount a proxy battle and throw someone out on the street. They land softly though because the parachute is part of their compensation package and they know it the first day the punch the clock.

Frightening isn't it? At one point there was some balance between those that sucked at the teet of government and those who rejected it. We are at a point where it is everywhere. It is a slippery slope that the corporate heads would be wise to avoid. We are at the point where it has crossed over from the corporations relying on government for help to outright ownership. Anyone with a rational mind should see the end game.

 

[Mike_Rupp]

Our corporate overlords run this country.
They don't even try to hide it any more.

Corporate America has the salaries. In my book, you need to add a shitpile of "value" to be worth 10s of millions of dollars a year.
Athlete, CEO, whatever. I just can't relate.

My ass. The "corporate overlords" will all be reporting to Obama soon. He is clearly running things.

People get paid what the market dictates. If they don't get paid that, they leave. It is that fucking simple. Do you actually have a job in the private sector? Have you ever taken a new job where you made more money and left the old one? Why do you think that it is any different for a CEO or other job in which the person is making millions of dollars per year? Just like any job, some fail and get booted and some add the value that they were hired for and flourish.

This class envy is out of hand. It completely plays to Obama's agenda.

 

[RBBailey]

I deal with Wall Street guys everyday and have for many years. A few are adding value, mostly the guys working their asses off but there is a culture of insiders that get the cushy board room jobs and top tier corporate officers that provide little or nothing because they have made it into the club. These are the folks I am reffering to, like Eisner's buddy who worked at Disney for less than a year and then jetted out the door with a severence package of eight figures.

Rationalize that for me.

I agree. Which means it's too bad we took the Liberal Socialist route and bailed out so many of these companies that would be forced to stop this type of practice.

There are going to be moochers here and their and everywhere, though, you can find examples no matter what the economy is doing or who is in charge.

 

[p m]

This class envy is out of hand. It completely plays to Obama's agenda.

:bigok:
He has a great will and chance to destroy health care, in the same way.

Only market should dictate how much a person earns.
For some odd reason, nobody mentioned David Beckham's Galaxy contract yet.

 

[gmookher]

I'm a consultant

I dont work here

 

[jim-00-4.6]

Do you actually have a job in the private sector?

yes.

Have you ever taken a new job where you made more money and left the old one?

yes.

Why do you think that it is any different for a CEO or other job in which the person is making millions of dollars per year?

I don't. What the fuck are you yapping about?

Just like any job, some fail and get booted and some add the value that they were hired for and flourish.

My point is that as far as I'm concerned, you should be adding a whole lot of value to be worth tens of millions of dollars a year. I believe I said "a shitpile" of value.

This class envy is out of hand. It completely plays to Obama's agenda.

Yes, it does.
Doesn't change my opinion that some people are wildly overpaid.

 

[Mike_Rupp]

You clearly don't get it. People in the long term get paid their value. In the short run, there can be differences in their worth and what they are actually paid. In those cases, they either leave or get fired. It is that simple.

How about a company that profits in the billions of dollars annually? Does a CEO of a company like that deserve the millions that they will make?

Another way to look at it: are there any regular joes that are wildly overpaid, like say autoworkers in the US? Do you have the same righteous indignation over a regular joe being wildly overpaid?

 

[landrovered]

Your free market principles break down when people game the system. Those in the club are clearly gaming the system. You cannot write it off as acceptable any more than you can insider trading.

 

[Mike_Rupp]

Human nature is flawed. Men have free will; some choose to break laws.

I'd rather go about life knowing that people act in a flawed manner and deal with it rather than have government come in and solve my problems for me.

 

[landrovered]

So you are saying that when the police come in and stop someone from stealing it is ok, but if the SEC does it then it is unacceptable to you?

 

[Mike_Rupp]

When did I say that?

Some people think that the solution to problems is more government intervention. Problem: current state of the banking industry. Solution: Bailout and government ownership of the industry.

Problem: health care industry seems to be screwed up. Solution: Let's let the government run it.

I think the difference between you and me is that I err on the side of allowing the market to correct itself and you think that government intervention is a better method. Tell me if I'm wrong.

 

[GYM]

So you are saying that when the police come in and stop someone from stealing it is ok, but if the SEC does it then it is unacceptable to you?

Huh? SEC is a regulatory agency.
What do you think they are stealing??