Just because the exec who runs your company makes more money than you do doesn’t mean you’re a worthless peon who should go on food stamps. Or maybe not. It’s bad enough that average S&P 500 CEOs make more than 200 times in compensation than the median income of their workers. If the median worker income is $50,000, that’s a mere $10 million a year—not including stock, long-term incentive plans, massive amounts of perks, etc.
But wait. There’s more. That 200-to-1 ratio is chicken feed compared with unabashedly greedy CEOs who are the real high rollers. The Glassdoor Economic Research team analyzed data from S&P 500 companies to determine the highest and lowest ratios of CEO to worker pay. The results are astounding.
The highest CEO pay was 1,951 greater than the median pay of his workers. That dubious achievement belongs to David M. Zaslav, CEO of Discovery Communications, who made $156,077,912 last year. Assuming Zaslav works 60 hours a week with no vacation (unlikely), his hourly pay would be $52,026.
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Then they wonder what is wrong with the world. NO ONE is worth that much money.
ReplyDeleteif you can negotiate it, you deserve it
ReplyDeleteyea yea 12:29 to heck with ALL the other people actually running the company, who are on taxpayer subsidies. He deserves all that money while you and I pay for his employees to eat, housing, medical, etc.
ReplyDeleteBut the CEO has the onus of having to lay off thousands of his employees when times are bad. That's what makes him worth so much to the Board of Directors. The Board is also grossly overpaid for a part-time job. And they all scratch each others backs with stockholder money. As long as the stockholders allow the obscene payouts, and are happy with their dividends and stock values, nothing will change.
ReplyDeleteOh Lard. Don't forget the business owners of the Giant Mega Gazillion Walmart. Majority of their employees receive some form of government assistance. (Food stamps, snap, housing, free phones, discounts on electric/cable, schooling and Medicaid. Need I say more.) Oh Lard.
ReplyDeleteWhen Zaslav took over Discovery it was valued at $6 billion now it has a market value of $30 billion. A $24 billion increase for the stockholders. I'd say the stockholders are getting their moneys worth out of the CEO.
ReplyDeleteCan you stay out of other peoples pockets and worry about your own pockets. If you feel you are not paid enough then go and start a business or try to do something other than complain because someone makes more money than you. What did it take this person to get there? What sacrifices has he made to get there? Its also funny how it says at the end "assuming he works 60 hours a week with no vacation(unlikely)" how the hell does the writer know what Mr. Zaslav does on a day to day basis. Worry about yourselves and be the best at what you do.
ReplyDeleteWhat does Trump pay a housekeeper in one of his hotels vs. his income?
ReplyDeleteAre you trying to be one of his housekeepers? If not then mind your business and worry about trying better yourself. Maybe the question you should've asked was, how much more does Trump pay in taxes than I do and why am I such a leech
DeleteSuch a buch of liberals ... worry that others make too much money. This is America, land of the capitalist. Seek an education, work hard and you deserve what the market will pay. Good for Mr Zaslav. Enough with this woo is me stuff, find a way to better yourself and stop the whining.
ReplyDeleteA CEO can make that much because his company can borrow at 1/2% interest unlike 99.9999% of us.It's time to lower the small business tax rate who make 500,000 or less to 10%.
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ReplyDeleteAll had healthy incomes. But much of the stated income may be in the form of paper gains on stock. If so, generally are restrictions on sales of the stock so no actual cash until sold.
And he didn't build that either
ReplyDelete12:36 is well informed. The reason why we have all these taxes and fees i.e. sales tax, gas tax, tax on utilities, tax on this tax on that, a fee to take a crap (septic tax), rain tax is so the state can subsidize all those who work low paying jobs.
ReplyDeleteI always have to laugh at the utter stupidity of those who think they are getting a deal by shopping at Walmart because it's all an illusion. Tax payers are subsidizing Walmart employees to the tunes of billions and billions in this country. There are no deals to be had at Walmart. Wise the hell up people.