CEO raises pay to $70k minimum

Re: CEO raises pay to $70k minimum

Postby Maddog » Thu Sep 23, 2021 2:48 pm

Grafenwalder wrote:
Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
Grafenwalder wrote:In 2015 this CEO put all his employees on $70k pa minimum - and took a $1 million pay cut himself which saw him eviscerated as "a socialist and enemy of capitalism" whose business would go bust.

But six years later he's doubled the amount of employees and tripled business. Everyone is still on $70k pa including the CEO.


There are no CEO's in a socialist economy.

It works in Germany and has done for many years so not new. Known as Genossenschaften they use CEO's.



Well, Germany is a capitalist country, so they should have CEOs.

China has CEO's. :roll:

https://www.chinadaily.com.cn/a/202008/ ... 616f3.html


No shit. Because they now have private ownership over the means of production.
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Re: CEO raises pay to $70k minimum

Postby Avon Barksdale » Thu Sep 23, 2021 2:48 pm

Maddog wrote:
Avon Barksdale wrote:You mean stakeholder capitalism can work?

I AM SHOCKED.


Come on man, that's not what's happening here. Employees in the US often have a stake in their companies. The left here isn't really a fan of that. They do like this system because they are not being given a stake, they are making a higher income.

Amazon gave employees a stake a few months back and the left howled.


Stakeholder capitalism has a broader definition though? It can mean running a company where the primary motive is not to generate profits for the benefit of the shareholders but the goal of making a company a success where the interests and dignity of all stakeholders in it - to include the broader community where the company is based - which could also mean levelling out wages between the highest and lowest paid workers.

A prime example is Elon Musk and Jeff Bezos racing to get into space when previously companies would create towns which would provide subsidised housing, food and schools etc

Edit: in other words stakeholder and shareholder are not one and the same thing.
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Re: CEO raises pay to $70k minimum

Postby Grafenwalder » Thu Sep 23, 2021 2:59 pm

Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
Grafenwalder wrote:It works in Germany and has done for many years so not new. Known as Genossenschaften they use CEO's.



Well, Germany is a capitalist country, so they should have CEOs.

China has CEO's. :roll:

https://www.chinadaily.com.cn/a/202008/ ... 616f3.html

No shit. Because they now have private ownership over the means of production.

So you agree both capitalist and socialist countries have CEO's? :again?:
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Re: CEO raises pay to $70k minimum

Postby Maddog » Thu Sep 23, 2021 3:13 pm

Grafenwalder wrote:
Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
Grafenwalder wrote:It works in Germany and has done for many years so not new. Known as Genossenschaften they use CEO's.



Well, Germany is a capitalist country, so they should have CEOs.

China has CEO's. :roll:

https://www.chinadaily.com.cn/a/202008/ ... 616f3.html

No shit. Because they now have private ownership over the means of production.

So you agree both capitalist and socialist countries have CEO's? :again?:


A socialist country can't have private ownership over the means of production.
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Re: CEO raises pay to $70k minimum

Postby Maddog » Thu Sep 23, 2021 3:17 pm

Avon Barksdale wrote:
Maddog wrote:
Avon Barksdale wrote:You mean stakeholder capitalism can work?

I AM SHOCKED.


Come on man, that's not what's happening here. Employees in the US often have a stake in their companies. The left here isn't really a fan of that. They do like this system because they are not being given a stake, they are making a higher income.

Amazon gave employees a stake a few months back and the left howled.


Stakeholder capitalism has a broader definition though? It can mean running a company where the primary motive is not to generate profits for the benefit of the shareholders but the goal of making a company a success where the interests and dignity of all stakeholders in it - to include the broader community where the company is based - which could also mean levelling out wages between the highest and lowest paid workers.

A prime example is Elon Musk and Jeff Bezos racing to get into space when previously companies would create towns which would provide subsidised housing, food and schools etc

Edit: in other words stakeholder and shareholder are not one and the same thing.


The guy running this company has become quite wealthy based on his stake in the company.

He's made a good business decision for his company.

He's smart. He's postponing current income for future wealth.


I have no problem with what he's done. I have no problem with Musk or Bezos either..
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Re: CEO raises pay to $70k minimum

Postby Grafenwalder » Thu Sep 23, 2021 3:54 pm

Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.
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Re: CEO raises pay to $70k minimum

Postby ArchieG » Thu Sep 23, 2021 5:46 pm

Grafenwalder wrote:
Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.

Last time that happened, apart from the covid crisis, it was probably responsible for the end of New Labour. Covid is a bit different of course, it wasnt corporate greed that caused the need for bailouts. I’ll be fascinated to see what the public really make of the Tories’ lockdown and bailout policies. They didn't think much of Brown bailing out the banks.
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Re: CEO raises pay to $70k minimum

Postby Maddog » Thu Sep 23, 2021 6:29 pm

Grafenwalder wrote:
Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.


So don't bail them out, unless government is the reason for their failure.
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Re: CEO raises pay to $70k minimum

Postby Stooo » Thu Sep 23, 2021 6:45 pm

Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.


So don't bail them out, unless government is the reason for their failure.


This was the global financial crisis from '08 iirc, governments all over the world bailed out the fantastic capitalist system :roll:
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Re: CEO raises pay to $70k minimum

Postby Guest » Thu Sep 23, 2021 6:56 pm

Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.


So don't bail them out, unless government is the reason for their failure.

So all subsidies to all oil companies should cease right now?
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Re: CEO raises pay to $70k minimum

Postby Maddog » Thu Sep 23, 2021 7:54 pm

Stooo wrote:
Maddog wrote:
Grafenwalder wrote:
Maddog wrote:
A socialist country can't have private ownership over the means of production.

Just shows it doesn't need to be private. Lots of private companies have screwed up big time, often from greed, only to then expect to be bailed out by joe public.


So don't bail them out, unless government is the reason for their failure.


This was the global financial crisis from '08 iirc, governments all over the world bailed out the fantastic capitalist system :roll:



I know when it was.

They didn't bail out a system, they bailed out small numbers of players while letting the rest fall.

Nothing remotely free market about that is there?

The entity you want controlling everything picked a few winners.

May want to rethink your fealty.
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Re: CEO raises pay to $70k minimum

Postby Guest » Fri Sep 24, 2021 8:32 am

I'm surprised to learn that the cleaners and ancillary staff at this company were already paid $70K a year.

Does Maddog thing all cleaners make that much?
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Re: CEO raises pay to $70k minimum

Postby Cactus Jack » Fri Sep 24, 2021 12:53 pm

Guest wrote:I'm surprised to learn that the cleaners and ancillary staff at this company were already paid $70K a year.

Does Maddog thing all cleaners make that much?

As in the UK cleaners will earn minimum wage in most instances which us $14 an hour in California

Assuming they're working a 40 hour week with two weeks paid leave that's a shade over $29K.

If the cleaners are making $70,000 a year that company will never have trouble finding cleaners
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Re: CEO raises pay to $70k minimum

Postby Maddog » Fri Sep 24, 2021 2:20 pm

Guest wrote:I'm surprised to learn that the cleaners and ancillary staff at this company were already paid $70K a year.

Does Maddog thing all cleaners make that much?



They are probably not employees of that firm. I would imagine there is a contract with a cleaning company and that company pays them.
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Re: CEO raises pay to $70k minimum

Postby ArchieG » Fri Sep 24, 2021 4:20 pm

Maddog wrote:
Guest wrote:I'm surprised to learn that the cleaners and ancillary staff at this company were already paid $70K a year.

Does Maddog thing all cleaners make that much?



They are probably not employees of that firm. I would imagine there is a contract with a cleaning company and that company pays them.

I daresay the company is getting around the 70k promise like that in various areas. Payroll, soft FM, HR, can all be subbed out.
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