We're all in this together .. yeah, right!

[Supertramp]

You've got the wrong end of the stick I think. These people are not entrepreneurs that have created companies, created wealth and created jobs.

 

They are part of a closed shop of the "Elite" of Harvard business school graduates that fix their own wages with their buddies on the board. They are all on each otehrs boards. For instance, they build in big "change of control" elements to their pay, so that if they choose to recommend to the share holders to sell off the company to a rival, they get a massive payout.

 

Then they move to another company for an equally large package. Check out the wages of the last few CEOs of EDS/HP as a for instance...

 

Or if they get sacked for inappropriate behaviour. i.e. the last HP CEO, then they get a maaaaaaaasive payout, or if they force their employees to take a 5% cut and then get a 40million dollar bonus.

 

However this is only a problem for the shareholder, why are people who have no interest in any of these companies moaning about it?

[Vincero dOro]

I'll give them a lift to the airport...

 

Average boardroom pay is £2.4 million

 

I doubt that very much. But regardless of the figures you want to make up there are a few inescapable facts.

 

The people who earn millions pay billions in tax. The people who earn little take billions in benefits be that cash or just use of services.

It might suit your jaded political outlook if all the entrepreneurs left the country, but you would soon get fed up of paying in full everything you use, particularly when your job was being done by someone in Warsaw.

[Tomataheeed]

Ah, so aside from your description being pretty erroneous, you just want to talk about the exceptions that prove the rule.

 

I'm not here to defend anyone, just to shine a little daylight on common misconceptions.

 

exceptions? I'd imagine that the vast majority of large companies are run by people that didn't set them up. Microsoft, Apple and a few other tech companies are exceptions. Most companies take much longer to grow that big.

[Tomataheeed]

Or if they get sacked for inappropriate behaviour. i.e. the last HP CEO, then they get a maaaaaaaasive payout, or if they force their employees to take a 5% cut and then get a 40million dollar bonus.

 

However this is only a problem for the shareholder, why are people who have no interest in any of these companies moaning about it?

 

Is it not also a problem for other employees ? The CEO is just an employee afterall.

[Tomataheeed]

I doubt that very much. But regardless of the figures you want to make up there are a few inescapable facts.

 

The people who earn millions pay billions in tax. The people who earn little take billions in benefits be that cash or just use of services.

It might suit your jaded political outlook if all the entrepreneurs left the country, but you would soon get fed up of paying in full everything you use, particularly when your job was being done by someone in Warsaw.

 

I don't think many people have a gripe about entrepreneurs. Its the CEO caste that get paid enormous piles of cash, and also control the system that pays them.....with their buddies on the board.

[truman]

I don't think many people have a gripe about entrepreneurs. Its the CEO caste that get paid enormous piles of cash, and also control the system that pays them.....with their buddies on the board.

 

Don't the shareholders have to agree the director's etc remunerations ?

[Tomataheeed]

Don't the shareholders have to agree the director's etc remunerations ?

 

 

In theory yes. In practice the major shareholders are city investors in the same elite wealthy "club". Its a bit of a stitch up really.

[mj.scuba]

In the last 12 months alone, directors pay in the 100 has rise 49%, CEOs by 46% and workers pay by 2.6% at best (many frozen or cut), which is well below the cost of living. Something bad is going to happen isn't it?

 

http://www.bbc.co.uk/news/business-15487866

 

If you buy some shares at those companies, you'll get an invite to their AGM where you can express your anger and dismay as a shareholder

[Vincero dOro]

I don't think many people have a gripe about entrepreneurs. Its the CEO caste that get paid enormous piles of cash, and also control the system that pays them.....with their buddies on the board.

 

You probably need to drive around Sheffield and see the number of medium to large businesses that are family run.

A very large number of wealthy people have become wealthy through their own efforts. Some of them through business and some through music or even sport.

We hear figure bandied about regarding net migration. That is the number of people moving to Britain compared to the number moving out. Unfortunately whilst the vast majority of those moving here will be those who take far more out of the economy than they contribute, those leaving are the one's who contributed the most and generally put the least burden on the NHS.

[Supertramp]

Is it not also a problem for other employees ? The CEO is just an employee afterall.

 

It is, but by being a problem for the employees it also becomes a problem for the shareholders. I did some work as a contractor at HP/EDS when all the pay cuts were going on and the staff were extremely ****** off at Mark Hurd's bonus even though the majority of pay cuts were in the US.

 

There were talks of protests, go slows etc. not sure if anything happened as I found a different contract and left. If they employees kick up a fuss then the shareholders will take notice as share prices drop etc.