Quote:
|
Originally Posted by loquitur
Tully, I think what you might be missing is that CEOs' duties run to their shareholders and not to their employees. I'm talking legal duties here. I would argue that treating employees well is good business and that a boss does shareholders no favors by shitting on employees, but there are occasionally times when it's necessary to cut back on workforce, and that can be for any number of reasons. If the end result is stemming losses or increasin profitability, then the CEO has done the company a service - including particularly the employees who remain with the company. I'd rather have a healthy company with fewer employees than a company that refuses to lay people off and then finds itself going under.
|
If we were speaking face to face I'd ask you something to the effect of "when I say ________, what do you hear? But since we're writing back and forth I'll ask you- When I write things like this:
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.
Or-
CEO's often sit on the very boards that decide their pay and benefit packages. They pay themselves as much as they think the shareholders will swallow.
What do you read?
Quote:
|
Originally Posted by loquitur
As far as shareholders are concerned, who do you think shareholders are? The biggest ones are not fat cats. The biggest ones are pension funds. In fact, I believe the single biggest shareholder in the country is CalPERS (see here: http://www.calpers.ca.gov/index.jsp?bc=/about/home.xml). It invests the benefit and retirement money of the employees of the California State government. In other words, the workers of the country are also the owners of the businesses. That's what a 401(k) is. That's what pension funds are kept in. If you have a whole life insurance policy, the savings piece of it comes from investments. |
No kidding. Which would be why I wrote this:
I also closely watch my portfolio and try to stay out of funds that include such companies.
Do you get the idea that I think I'm some fat cat?
I get the serious feeling that I'm writing one thing and reading something completely different.
Quote:
|
Originally Posted by loquitur
This is all interlinked. We have a wonderfully interdependent economy, and each of our success is linked to everyone else's success.
|
Well I agree it's all interlinked. Exactly how wonderful that is or how one's success leads to another's is highly debatable. All too often, through pure greed, one's success comes at the expense of others, IMO.