Posts Tagged ‘CEOs’
Posted in corruption, Economics, Economics, recession, income redistribution, Politics, the Rigged Game, tagged Barack Obama, CEOs, income redistribution, mitt romney, Pay on Jam10000000amFri, 05 Oct 2012 11:29:42 +000012 10, 2010 | Leave a Comment »
The Economic Policy Institute reported that, “American chief executives saw their overall compensation increase by 15 percent in 2011, part of a larger trend that has seen CEO pay skyrocket at a rate 127 times faster than worker pay in the past three decades.”
Generally, CEO’s of publicly traded are a clueless lot. They don’t know what’s going on with their companies. So they cut jobs and for that they are richly rewarded. Think about it.
How can anybody with 100 to 100,000 employees around the world know what’s going on in their companies? How would some moron with a degree in finance know anything about driving a truck, operating a lathe or a blow torch, putting in foundations, operating heavy equipment and so many other things necessary to operating a big business. The answer is simple. They don’t know how to operate their businesses, so they cut jobs, which increases profits, and makes them look like they know what’s going on with their business, which they don’t. They’re rewarded for being job destroyers.
CEO’s desperately want free trade treaties, such as the Trans-Pacific Free Trade Treaty (TPP). These treaties make it easier to slash jobs in the United States and ship them overseas to lower-wage nations. The difference between the old higher pay and the new lower-pay increases corporate profits, shareholder dividends, share prices and CEO compensation. That’s why the rich have gotten richer over the last thirty-two years and the rest of us have grown more poor. Think about it.
CEO’s get paid to destroy jobs. That’s what Mitt Romney did in order to become rich.
Under President Obama’s care, and with the help of Wall Street Senator Ron Wyden, the rich have taken 93 percent of total income growth the last couple of years, and this has resulted in their grabbing more than 30 percent of all income generated in the USA every year. The result has been that there’s less money to go around for the rest of us, and a terribly weak economy.
Read the complete story by clicking on the link below.
Most CEOs of large corporations don’t have a clue about what they are doing. The new CEO of General Motors, for example, comes from the high tech sector. Other than driving a vehicle, his knowledge of building cars is as limited as the average joe on the streets. He is being brought in to cut jobs that will improve GM’s stock price. That’s his expertise. See the link below.