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Jeb Stuart Thurmond Jeb Stuart Thurmond is offline
Didn't write the Bible, just obeys it
 

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Default Re: Civilization collapses as makers Go Galt! Yacht Parade cancelled! - 10-27-2013, 07:15 PM

Still wondering why so many are Going Galt? Just look at the persecution faced by former JC Penny CEO Ron Johnson.

He did lots of hard work laying off 43,000 employees, and under his leadership JC Penny only lost 73.33% of it's value. (you can't win 'em all).

Yet all he gets to show for it is "a compensation package worth 1,795 times the average wage and benefits of a U.S. department store worker...Comparing his earnings to the $29,688 average compensation for a department store worker is the equivalent of stacking the length of a loaf of bread -- give or take a few slices -- against the height of the Empire State Building."

And it gets worse: now the democrats want to invade the privacy of corporations by making them disclose how much they pay their employees. Which means they would have to figure out how much they pay them, which costs too much for the poor corporations to afford:

We don’t believe the information would be material to investors,” said Tim Bartl, president of the group’s advocacy arm, the Center on Executive Compensation. Accounting for country-to-country differences in wages and benefits at global companies would be costly..."

Of course we can't expect corporations to pay for extravagances like figuring out how much they pay their employees. Look at how they're just scraping by: "...the company awarded six top executives $190 million for the fiscal year that ended in January 2012"

Other CEOs are suffering too:

"Abercrombie CEO Michael Jeffries got $48.1 million....1,640 times the average clothing-store worker’s $29,310 in pay and benefits. Jeffries’ stock-appreciation rights -- valued at $43.2 million in the proxy -- had no realizable value as of April 25 because the share price fell."

Now, just because the share price fell doesn't mean he's a failure who doesn't deserve 1,640 times what his workers make. After all, bad luck happens to us all (except the poor, who are lazy).

The article also mentions that the CEO to average-worker pay ratio was "20-to-1 in the 1950s" - which just proves that liberals are luddittes who hate progress.


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