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Originally Posted by Ustwo
And then the company fails. Poor management.
Lets say everything I said was wrong about high end CEO's, completely. It still doesn't get into the why it matters. What does it matter if some guy made 100 million dollars doing a shit job?
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OK, everything you said was wrong.
Because somebody's paying a price for his 100 million dollar salary. Often that price is paid by people who can afford it the least. When a person who's doing his job right loses his job because someone making a 100 million is doing a shit job I think it's complete crap. I also think it's crap when people who bought stock in the company lose money while the company hands out cash like it grows on trees to the guy causing the stock loses.
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Originally Posted by Ustwo
When I was making 8000 a year 7 years ago, and that plus my wifes secretarial salary is what we lived on, those guys didn't have an effect on me, what we could do, what we needed, or how happy I was. Their money didn't affect my health care, my car, our entertainment. Hell as happy goes we were just as happy then as now, maybe more happy now but thats kid related not money.
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I agree with that. I was as happy when I first got out of the Navy and was making not much more then min. wage as I was when I made many times that amount.
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Originally Posted by Ustwo
Why should I care what some overpaid CEO makes, its not my money to decide how its spent, and if they spent it wiser I'd still have been lower middle class economically. It might matter if my wifes company went belly up, and it wasn't a small company, but the CEO was the owner, its his money to spend, poorly or wisely. If she lost her job she could have found a new one, unemployment wasn't an issue then or now.
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Unemployment and under employment most certainly are issues. Many area's of the US are in damn near depression territory because of large lay offs, out sourcing and downsizing.
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Originally Posted by Ustwo
What I get from a lot of people on this is two things. One is their sense of fairness is violated and they want things to be 'fair' in their own eyes. Its not fair that someone makes millions while someone else is laid off, therefore that shouldn't be allowed. The other is just old fashioned jealousy. Its not fair that 'I' don't have millions, so no one else should either.
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For me it's a fairness issue. I'm not at all jealous. Personally I think the more money you have the less happy you are at some point. But I do not think it's fair to take from the shareholders and the employees to pay huge amount to the CEO, CFO, or anyone else at the top. I have less of a problem with this if it's a totally private company. What an owner wants to do with his company is his business and is none of my business. If he decides it's worth a couple more million to him to lay off a bunch of people, I'll think he's an asshole. But that's completely his decision. The worlds full of assholes rich and poor.
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Originally Posted by Ustwo
Perhaps the hardest lesson for me to learn in my 20's was not being concerned about others success, not being jealous of those who had more or got it easier, and being happy for people who succeed. I don't think most actors, athletes, or some CEO's deserve what they make in relation to what they do, but but good for them, I'm not going to legislate that they shouldn't.
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I'm not interested in legislating it either. I just don't do business with company that do this if I can help. If you're laying people off and out sourcing job to other countries I think that's unfair to the employees and to this nation as a whole. So I take my business elsewhere. I also closely watch my portfolio and try to stay out of funds that include such companies.
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Originally Posted by Ustwo
Its actually a very nice place to be. It means I'm happy when I'm making very little money, I'm happy when I'm making a lot, and I'll be happy for the next several months when I'll have to cut back to school spending levels. I won't be happy if this new venture fails, but I'll still be happy over all.
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Good for you.