The results of the survey on American CEO (chief executive officer) compensation released on Sunday by the Wall Street Journal aren't likely to please progressives and socialists such as Bernie [Sanders] and Alexandria Ocasio-Cortez (AOC).
The Journal looked at total compensation being paid to the CEOs of 132 of the 500 companies making up the S&P 500 Index and reported that it reached $12.4 million in 2018, up from $11.7 million a year earlier.
Much of the compensation was driven by improved corporate profits and strong stock market performance that enhanced the value of their stock options. The Journal also reported that not every CEO got a raise: "Pay fell for 47 [of them], or about a third ... and more than 10% for 22 of them."
This isn't likely to impress socialists and social-justice warriors who will likely use the Journal'sresults to focus on some kind of "parity" calculation: comparing CEO compensation to the average guy driving a truck or working a line in a factory. Expect outrage over the disparity, and legislation to "fix" the "inequity."
How does one justify anyone making a million dollars a month? Anthony Smith, co-founder of management consulting firm Leadership Research Institute, knows many of those CEOs personally and thinks they're getting paid what they're worth: "After carefully weighing every aspect of their 24/7/365 jobs - which are carried out in isolation and can destroy [their] health [and] families [and] personal privacy - I have come to the conclusion that [their compensation packages] are justified."
First, those packages are still largely determined by competition in the free market.
[Ron: This is utter Talmudic bullshit! There is NO free market in the corporate world or in any country that hosts a Rothschilds' controlled Central Bank that issues usurious fiat debt tokens as "money". In those countries Banksters determine who gets "money"; how much they get and at what price (interest rate). That process decides the winners and losers and funds the favoured mega trans-national corporations that swallow up their competition or put them out of business. See eg: How Interlinked Corporations Rule The World. - http://abundanthope.net/pages/Political_Information_43/How-Interlinked-Corporations-Rule-The-World.shtml
Every board of directors factors in each candidate's past track record; his potential for adding value to the company; competing job officers from similarly qualified people; what he or she is leaving behind to make the jump; their reputation on the "street"; and the team of other executives he or she is likely to bring over or to attract.
[Ron: Yabba, yabba, Talmudic gobbledegook to mesmerise the stupid goyem, yabba.].
Second, the board looks at the unique set of skills the candidate brings to the corner office. True "stars" are in short supply while the demand for them is extremely high.
[Ron: Really?! WHY? Surely there is no shortage of greedy corporate executives desperate to do anything their Talmudic bankster controllers tell them to do?After all, just how many Tiger Woodses or Phil Mickelsons are there in the world?
Anthony Smith: For the record, Woods is the first athlete in history to make over a billion dollars (so far) while Mickelson is right behind him.
[Ron: WTF has the ridiculously inflated "wages" paid by Talmudic corporatists to celebrity sports people got to do with this discussion?!].
Anthony Smith: Third, the right candidate is in a position to create thousands of jobs, deliver massive returns to investors in the company's stock, not to mention breath-taking innovation simply by bringing a fresh set of eyes to the position.
[Ron: Spare me! Today CEOs aren't hired to create thousands of jobs. They are usually hired to increase automation and insert AI into every possible aspect of corporate operations in order to eliminate as many jobs as possible. See eg: Scientists Want You To Get A Brain Chip To Make You Smarter; And Intelligence Agencies Absolutely Won’t Abuse This Technology Implanted In Humans - http://abundanthope.net/pages/Environment_Science_69/Scientists-Want-You-To-Get-A-Brain-Chip-To-Make-You-Smarter-And-Intelligence-Agencies-Absolutely-Won-t-Abuse-This-Technology-Implanted-In-Humans.shtml And: AV8.1 - Slaves on a Digital Plantation - Patrick Henningsen - http://abundanthope.net/pages/Environment_Science_69/AV8-1---Slaves-on-a-Digital-Plantation---Patrick-Henningsen.shtml
AV8 - Dr Graham Downing : Artificial Intelligence - http://abundanthope.net/pages/Environment_Science_69/AV8---Dr-Graham-Downing-Artificial-Intelligence.shtml.]
Anthony Smith: In addition, for a large corporation, compensation packages of this size fade into just a "line item" in the budget compared to the revenue stream and profitability of the company. As Smith asked, "Who creates more value in the company, the CEO or a bunch of paper clips [costing the same, or more"?"
[Ron: These are the vacuous responses of a typically mindless Talmudic minion. The fact that the banksters who control the corporate world are destroying and/or absorbing almost all businesses everywhere and incorporating their market share into ever fewer gigantic monopolistic corporations explains why the paper clips used cost millions of dollars BUT how does that justify a CEO getting paid a million USD a month while the average pay of his employees, the users of the paper clips, is declining in real terms all of the time? The process is a zero sum game not only for employees but for society as a whole as both employed and unemployed workers have ever less to spend putting society into a lethal downward spiral that can only end in chaos and the death of society, including the collapse of the mega corporations.].
Anthony Smith: Institutional investors and shareholders understand this. Progressives and socialists either do not, or will not.
[Ron: investors and shareholders represent less than one percent of the total global population and in fact MOST of the shares in MOST major corporations are held by banks and other major corporations and their nominees in interlocking ahareholdings. This not only means that most corporate wealth is probably held by 0.001 percent of the global population but also that a tiny handful of hidden oligarchs actually control our world as well as WHO gets to be a CEO earning a million USD a month.].
For example, take AOC, the House freshman (woman) from the Bronx. Upon graduation from college in 2011, she took jobs as a bartender and waitress to help her mother (who was working as a house cleaner and a bus driver) pay the bills.
She started a business - Brook Avenue Express (BAP) - which published children's books, but the business failed. New York State closed it down when it failed to file a tax return or pay its corporate taxes. As of March 2019, BAP still owes the state $1,870.36.
AOC now receives $174,000 a year as a member of the House of Representatives, plus benefits. Who's to say that she's worth that?
[Ron: she isn't].
Or take Bernie Sanders. Politico took the time and trouble to explore his business background and then reported on what they found in 2015: He lived from hand to mouth, stealing electricity from his landlord when he couldn't pay his electric bill. From Politico:
He shared custody of his son in an informal arrangement with [Susan Campbell] Mott, according to people who knew them. "She was around a lot," Nancy Barnett, a friend who lived nearby, told me. Barnett called Mott "a pretty quiet, private person."
Sanders rented a small brick duplex at 295 1/2 Maple Street that was filled with not much furniture and not much food in the fridge but stacks of checked-out library books and scribbled-on legal pads. His son, who called his father "Bernard," had an upstairs bedroom.
"Pretty sparse," Gene Bergman, an old friend, said about the apartment.
"Stark and dark," said Darcy Troville, a fellow Liberty Unionite who lived around the corner and shared with Sanders homemade jellies and jams.
"The electricity was turned off a lot," Barnett said. "I remember him running an extension cord down to the basement. He couldn't pay his bills."
He worked some as a carpenter, although "he was a [poor] carpenter," Bloch told me. "His carpentry," Morrisseau said, "was not going to support him, and didn't."
He worked as a freelance writer, putting intermittent pieces in the low-budget Vermont Freeman, a Burlington alternative weekly called the Vanguard Press and a glossy, state-supported magazine called Vermont Life....
His writing wasn't a living. The Vanguard paid as little as the rest. "It would've been not more than 50 bucks," said Greg Guma, a former editor for Vermont Life. "Our rate was 10 cents a word," said Brian Vachon, a former editor.
"He was always poor," Sandy Baird, another old friend, told me in Burlington.
"Virtually unemployed," said Nelson, the political science professor at the University of Vermont.
"Just one step above hand to mouth," said Terry Bouricius, who was involved with Liberty Union, served at times as a de facto campaign manager for Sanders, and at one point crashed for a couple months on his couch.
It wasn't until Bernie got into politics that his financial situation changed dramatically. In 2016, he earned more than a million dollars, part from his salary as a senator and the rest from advances on books that he hadn't written yet.
[Ron: So what? This simply evidences that US politics is a racket that is totally controlled by hidden oligarchic manipulators who decide who (like AOC and Bernie Sanders) gets to pretend to govern the nation while the decisions are made elsewhere by those who put them into Congress.]
And yet these are the people who have opinions on what CEOs of America's most successful corporations ought to be making. They rail against the CEOs who have turned the American economy into the envy of the world: the lowest unemployment rate seen in decades and wage increases for workers not seen in years, including especially those in manufacturing jobs and for women joining the workforce for the first time.
[Ron: More bullshit! US Congressional puppets are there to harmlessly express opinions that titillate the mindless mass of the electorate; AND to vote in accordance with the dictates of the Jewish Lobby and various Jewish and gentile billionaires. In fact the role of Congress critters is very little different from that of most CEOs who are also 'front' men for the Talmudic cabal that runs the US and our world. No surprises there.].
Consider Cassandra Eaton, a 23-year-old high school graduate who was recently making $8.25 an hour at a daycare center near Biloxi, Mississippi. She now works as an apprentice welder for Huntington Ingalls Industries in nearby Pascagoula and makes $19.80 an hour. Once her apprenticeship is completed she will be making $27 an hour. Said Eaton: It's amazing that I'm getting paid almost $20 an hour to learn how to weld."
[Ron: Does this minion understand what he is saying? He's implying that it is amazing that a 23 year old welder gets to be paid less than 5,000 USD a month and yet that somehow justifies CEOs getting a million USD a month. Question: Is he suggesting that a high school graduate who gets to be a qualified welder earning less than 5,000 a months has ONLY achieved that emolument because CEOs get paid a million a month?! If not, what is his point. Surely any job increases in the US are due to the efforts of President Trump, NOT the efforts of most CEOs who appear to be opposing everything Trump does?].
Amazing, indeed. But tell that to Bernie or AOC.
There's James O. Wilson. He dropped out of high school in the 10th grade and started selling drugs on the street. He spent years in jail but now, at age 59 and released from prison, he works for FedEx and makes more than $16 an hour. Wilson told the Wall Street Journal: "I wanted to show FedEx you can take a person, and he can change. I want FedEx to say: ‘Do you have any more people like him?'"
[Ron: WTF has this got to do with CEOs being paid a million USD a month?!].
Don't expect his story to be highlighted by progressives Bernie and AOC.
But what about the president of FedEx, David J. Bronczek? He doesn't make $16 an hour. His base salary is $1.1 million and, when his bonuses and stock options are added in, his total comp is $8.2 million a year.
Isn't that grossly unfair? Consider: Bronczek started out as a courier for FedEx in 1976 and slowly worked his way up the ladder until he now serves the company as its chief executive officer. FedEx, which didn't even exist 50 years ago, now employs 425,000 people worldwide and generates more than $65 billion an annual revenues.
[Ron: So what? Bronczek didn't establish FedEx and doesn't own it. It has become a behemoth because of monopolistic practices suported by banksters over many decades. The fact that FedEx is so centralised and dominant means that many smaller localised businesses are no longer able to compete with it so that employment and profits have been sucked out of local communities into distant corporate centres. That process kills local enterprises and local communities.].
Would anyone in their right mind even consider Bernie or AOC for that positon? If not, why would anyone in their right mind even listen to their opinions about "fairness, equity, justice and parity" when it comes to compensation for the CEOs running America's and most successful companies?
[Ron: This is an irrelevant straw man argument. Bernie and AOC are just stupid, greedy puppets doing the bidding of the hidden cabal matrix controllers as is this talking head minion. AOC and Bernie are bit players used by the Talmudic cabal running the US cultural Marxist circus and their ignorance and lack of integrity constitutes their qualifications for the roles they have been given.].
Let the free market continue to determine what they should be paid, and ignore plaints about fairness from the likes of Bernie and AOC, who know nothing of the matter.
[Ron: More dross. Clearly the free market isn't determining what AOC and Bernie should be paid, the cbal controlling the Congress are doing that.].
Photo: ConceptCafe / iStock / Getty Images Plus
An Ivy League graduate and former investment advisor, Bob is a regular contributor to The New American, writing primarily on economics and politics. He can be reached at email@example.com.
Colour fonts, bolding and comments in square brackets added.].
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