You are currently browsing all posts tagged with 'CEO Pay'.
Displaying 1 - 4 of 4 entries.

Class Warfare

  • Posted on March 15, 2011 at 8:11 pm

When I was a kid one of my many brothers would climb up on our huge Maple tree and throw sticks and stones down on anyone that tried to claim his roost in HIS tree.  I mention this here today because it’s a good analogy for Republican politicians and their huge attempts at limiting the power of the poor and the middle class.  The buzzword is “reform”.  However, the reform is ONLY about limiting the power and ability of the poor and the middle class.  There is no mention of any kind of reform that really will have an effect on the wealthy or upper classes.  These reforms can be anything from workers’ rights to health care to even the judicial system.  The tort reform we always hear them talk about is set up to limit the ability of the disenfranchised to make a claim against anyone above their stature, which would be most people and corporations.  The Republicans have tried for years to limit the amount that can be received in a lawsuit for inadequate health care claiming that this is the reason health insurance costs so much.  I noticed the steep change in the cost of health insurance right after September 11th 2001.  Do you really think it had something to do with the changes in our health care providers or was it something to do with the drop in revenue the insurance companies felt from investments that tanked after that time?  Just remember that the health insurance industry is a for “profit” industry.  They exist to make a profit.  There may be some like Blue Cross Blue Shield of Michigan, my company, which are supposed to be non-profit.  However, they still pay their CEO a huge compensation. http://blogpublic.lib.msu.edu/index.php/2008/05/19/are-blue-cross-blue-shield-of-michigan-o?blog=5

Republicans like to claim that it’s all about personal responsibility and the need for people to pick themselves up by the bootstraps and of course that they, themselves, never had a helping hand.  We all know that is ludicrous because so many of them have been groomed for the positions and posts that they currently hold.  Sometimes it’s not what you know but who you know that gets you to the top of that tree.  Most of us sitting under the branches of that proverbial Maple tree are lucky enough if we can get a small perch we can claim as our own.  However, those at the top aren’t very willing to share their perch because they feel a sense of indignation that anyone would want to claim what is rightfully “their” perch.  They earned it!  They are the self satisfied, bloated, corrupt individuals we all know that don’t care about what is in the best interest of the common good of all the people.  It’s what is in “their” best interest that really matters.  By golly they clawed their way to the top and you better too.  However, once they get to the top they work very hard at taking all of the supporting branches away that helped them get to the top.  You know those things like low interest student loans, Pell grants, public education, and any aid programs like heating assistance for the poor.

Many people have talked about class warfare for years.  The Republicans have accused Democrats of creating this warfare to get votes.  That part might be true because Democrats always talk about these things around election time.  However, neither party has done enough of what they could to elevate our society so that everyone can get a little branch on that tree.  True class warfare is really happening right now and it is being instigated by Republican politics.  We have been pressured into believing that we all have to “share” in some kind of sacrifice for the good of the country.  We have been living way beyond our means and we must pay the piper what is due.

No one has really pointed out something that I can see so clearly.  Most of us people sitting under the Maple tree don’t use much resources of any kind in our country.  Most of us are not flying off in our private jet wasting tons of fuel.  Most of us haven’t been to a government created airport in the last month.  We might fly once in awhile for a family vacation but we aren’t the ones using that airport like it’s our own home base.  However, we are paying for it.  Most of us aren’t living in gigantic houses sucking up our natural resources with our rich and famous lifestyles.  Most of us live quite conservatively by shutting off our lights and dialing down our furnace in the winter and up in the summer months.  Most of us pay our bills and do everything we can to not declare bankruptcy.  However, for the rich and famous, it can be done any time they get in a tight pinch.  The rest of us will pay for it because the banking industry will get their money back one way or another.  That famous rich guy will eventually think he should run for the presidency because he knows how to run a business, so how about doing the same with our country.  http://en.wikipedia.org/wiki/Donald_Trump

In my opinion the great leveler in society is a good education.  If you have a good education, you can go far in life.  You may not become a millionaire sitting at the top of that proverbial Maple tree but more than likely you will be able to create a decent life for you and your family.  The true key to solving poverty is in education.  The statistics here from my state are interesting.  As the education level goes up the poverty level goes down.  That makes a lot of sense, so why do all of these new Republican governors seem to want to take away from education to pay for their tax breaks for the corporations?  It just doesn’t make any sense to me.

http://factfinder.census.gov/servlet/STTable?_bm=y&-state=st&-context=st&-qr_name=ACS_2009_1YR_G00_S1701&-ds_name=ACS_2009_1YR_G00_&-tree_id=309&-redoLog=true&-_caller=geoselect&-geo_id=04000US26&-format=&-_lang=en

You can check your own state levels at these next two websites:  http://factfinder.census.gov/servlet/STGeoSearchByListServlet?ds_name=ACS_2009_1YR_G00_&state=st&qr_name=ACS_2009_1YR_G00_S1701&_lang=en&_ts=317767762496

http://www.justneighbors.net/poverty-facts-your-neighborhood-who-my-neighbor

43 million people are below the poverty line in this country.  If you head on over here you will find some fascinating things to read but it won’t be surprising to most of you.  http://en.wikipedia.org/wiki/Gini_coefficient

The Gini coefficient is a mathematical equation that basically shows the disparity between the income of the rich and the poor.  The closer the number is to zero, the more equal things are.  The closer the number is to 100, the more unequal things tend to be.  In 1929, you know during the times of the stock market fall and the beginning of the great depression the estimated number for the United States was 45.  We had a period after World War II when this number declined considerably.  This was a time when the middle class was really built and unions were a big part of that.  Since around 1980 we have gone back in decline with numbers as high as 46.9.  Most of us know there has been a change in who has more money and who has less.  This site just makes you think about things.  The rich just keep on getting richer and the poor keep trying to figure out how to strap those gold laced boots on to get to the top of that proverbial tree.

I always wonder why the wealthy seem to always want more.  They are already at the top of the tree, so you would think they wouldn’t mind letting some of that wealth trickle on down like Reagan assured us it was supposed to.  However, it turns out most millionaires don’t feel wealthy.

http://www.businesswire.com/news/home/20110314005921/en/Fidelity%C2%AE-Survey-Finds-Millionaires%E2%80%99-Outlook-Economy-Highest

I want all of you to stop laughing.  I know you are because it really is unbelievable.  Even those workers at Ford are sharing in the profits these days.  That would sound great if they hadn’t already given up so much.  The real slap in the face for Ford workers is that CEO pay!  Just check this article out.  The rich get richer and the rest of us get whatever happens to land our way and we thankfully take it!

http://content.usatoday.com/communities/driveon/post/2011/03/mulally-bill-ford-share-fords-profts-big-time/1

Finally, here is more information that those Bush tax cuts really aren’t all their purported to be.  It turns out if you are in the top 10%, you probably did all right.  The rest of us, not so much!  This has the gap in income tax and it’s a great site to really research.

http://www.cbpp.org/cms/?fa=view&id=106

Unfortunately, we do have class warfare in this country.  The politicians take care of the corporations and the wealthy with the many tax loopholes and tax incentive plans while the rest of us are left to “share a sacrifice”, whatever the hell that means.  What it really means is that we will get less and the rich will continue to get whatever they want and need built off the backs of the middle class and dare I say the poor.  Those of us in the 90% are the ones that prop up everyone else.  We do our jobs whether it is teaching children, policing the world, scanning goods at the airport so the wealthy can continue to feel safe, or assisting them in their pursuit of more wealth.  We are factory workers, nannies, waiters and bus boys but the one thing we all have in common is proportionately we are greatly under paid, over worked and abused by a system that asks for continual sacrifice from us when the rich are expected to just get richer!

The State of the Union and that Pesky CEO Pay

  • Posted on January 24, 2011 at 10:39 pm

This morning Peggy Noonan was on the Morning Joe show.  I watch the show as I’m getting ready for work.  I always think it is interesting when I hear Republicans like Peggy and Joe singing the praises of President Obama.  They both just love Obama and are so thrilled that he is moving more towards the “center”.  I, of course, find all of this laughable because Obama has always been pretty much right of center.  If he was any where left of that golden center, health care would have a public option and we’d be out of these two wars.  I have to make a clarification here as both Peggy and Joe insisted this morning that they are not really into that “Republican” label.  They are really “conservatives”.  All I know is that a thorn known by any other name is still prickly.

I sit here thinking about the state of the union address.  Of course we are all being told that President Obama is going to embrace business with some kind of love fest.  Recently, he put an editorial piece in the Wall Street Journal where he said that we have to look at old, outdated rules and regulations.  I’m really curious about this because I have a nephew who sustained a traumatic work place injury about ten years ago.  I’m sure he wishes there were better rules and regulations in place when he had his hand cut off in a meat cutter.  In business, it always comes down to the almighty dollar.  Let’s see is it worth putting that screw on the “kiddie” pool or will we make more money even with a lawsuit, if we don’t?

The questions business must think about.  I wonder what went through the minds of those Toyota executives when they tried covering up their little problem.  http://www.motortrend.com/features/auto_news/2010/112_1001_toyota_recall_crisis/index.html

You can read President Obama’s entire executive order.  There isn’t a lot to it, but it really makes me wonder why President Obama even bothered with it.  However, reading numbers 4 & 5 really get my curiosity up.  It seems to be quite open to interpretation.  The lines seem a little blurry to me.

http://www.archives.gov/federal-register/executive-orders/2011.html

Or even his editorial piece.

http://online.wsj.com/article/SB10001424052748703396604576088272112103698.html

As stated in that Executive Order and to the extent permitted by law, each agency must,
among other things: (1) propose or adopt a regulation only upon a reasoned
determination that its benefits justify its costs (recognizing that some benefits
and costs are difficult to quantify); (2) tailor its regulations to impose the
least burden on society, consistent with obtaining regulatory objectives, taking
into account, among other things, and to the extent practicable, the costs
of cumulative regulations; (3) select, in choosing among alternative regulatory
approaches, those approaches that maximize net benefits (including potential
economic, environmental, public health and safety, and other advantages;
distributive impacts; and equity); (4) to the extent feasible, specify performance
objectives, rather than specifying the behavior or manner of compliance
that regulated entities must adopt; and (5) identify and assess available
alternatives to direct regulation, including providing economic incentives
to encourage the desired behavior, such as user fees or marketable permits,
or providing information upon which choices can be made by the public

I’ve been curious about the push for business in government for awhile now.  Here in Michigan we have a new governor, a businessman.  In the last election Maine and Florida, like Michigan went to the business world for their governors.  Now, I hear talk of President Obama warming to business and yet I saw on MSNBC today that American businesses have created about two million jobs this past year.  However, only 600,000 are in the United States.  I keep hearing the words “business friendly” and I’m not sure exactly what that means but I can deduce that it might imply “labor unions” not so friendly.  It really does come down to the bottom dollar.  How can a business turn the highest profit?  The cost of labor has to go down to make business happy or they can just keep hiring workers in other countries.  Where does that leave the American people?

Our Governor spoke last week and I’m still wondering exactly what he’s going to do but I know it’s going to be some kind of love affair with the business world.  Don’t get me wrong, I do realize that business has to be able to make a profit.  I’m just not so sure that those high CEO pays are all that necessary.  Other countries seem to curb the appetite of their CEO pay.  It is destroying our country.  Here is a good take on it. http://www.businessweek.com/managing/content/nov2008/ca2008114_493532.htm

Notice that CEO pay can be 400 times the pay of the average worker.  I would say that is kind of excessive!  If we want to fix business in this country, then maybe we should start at the top and stop making the little guy continue to give up things and make concessions.  American CEO Pay needs to be adjusted.  Every CEO should be thinking about his or her country.  John F. Kennedy said, “Ask not what your country can do for you.  Ask what you can do for your country.”  We can start with CEO pay.  Maybe President Obama could create an executive order there.  Maybe the government should do business only with corporations that limit the CEO pay.  President Obama imposed a restriction on CEO pay for companies involved in the bailout plan.  However, many of them found ways around that little gem.  I think our government shouldn’t do business with any corporation that has excessive CEO pay.  If you really want to make your stomach churn, just check out the AFL-CIO site on executive pay.  It really will make you sick.  http://www.aflcio.org/corporatewatch/paywatch/ If you’re too lazy to do the search, just check the top 100 here:  http://www.aflcio.org/corporatewatch/paywatch/ceou/top100.cfm

There is something wrong with business when the CEO can make such tremendous figures while the little people at the bottom of this food chain are continually asked to take a cut.

I’ll be watching the president tomorrow night.  I’ll be hoping that he’s thinking about those little people at the bottom, but I have this sneaking feeling it’s going to be more about the bottom line for business and how we all have to sacrifice a little bit more.  However, I know that guy at the top won’t be feeling a thing!

As I was looking around tonight I came across a great “read” on what’s happening with public sector unions.  This is a blog post by a teacher.  http://modeducation.blogspot.com/2011/01/impending-demise-of-unions.html

Just keep all of this in mind when your listening to the president Tuesday night.

Worker’s Hell

  • Posted on August 26, 2010 at 11:46 am

A handout picture provided by Chilean President Sebastian Pinera showing a handwritten note with the message "All 33 of us are fine in the shelter", written by the miners trapped deep underground for 17 days, in Copiapo, Chile, 22 August 2010. EPA/JOSÉ MANUEL DE LA MAZA/CHILEAN PRESIDENCY/HO

A Mining Family

Okay, if you have been here before you now understand the title of my blog, “What’s on Katie’s Mind?”  My brain is always going.  I’m always thinking about things that relate to politics, art and education and of course I have my own unique perspective.  If I’m out shopping I might see some obscure thing that may give me an idea for an art project for my students.  My brain tends to hop around a lot in thought from one thing to the other.  Maybe this is the way everyone processes information.  I don’t really know.  I just know that since my son, Josh, gave me this blog, I have found it really rewarding to write about some of the many ideas and thoughts that come to me on a daily basis.  Much thanks to my wonderful son, Josh.  Today I’m thinking about several things again, as always.  It’s hard to pick just one topic to write about.  These are the thoughts I’m having:

Worker’s Hell:

The risk is always at the bottom and the payoff is always at the top.

Education:

Is there a correlation with the drop in worker pay with the falling education scores?

19th Amendment:

Even though we celebrate ninety years, there are still inequities in pay and that ever illusive ERA has never been ratified.

Just heard on TV:

British spy murdered…Mystery…found in sports bag…..may have taken important work home.   Computer stolen…sex games…porn…quiet person….cyclist….  This might be interesting to find out more about the spying, that is!

I’d like to focus a little bit on that “Worker’s Hell”.

We have all heard about the Chilean miners.  I know everyone is praying for their safe return to their families.  We are being told that this reunion could take months so obviously these poor guys are in serious “Worker’s Hell”.  It is disturbing how many major catastrophes there have been for workers in mines and oil rigs this past year or so.  Maybe there are more or maybe we are hearing more about it.  One thing stands out for me and that is all of the mortal risk for these corporations that run these businesses is at the bottom of the pay grade.  It is the worker bees that suffer the personal losses of life, limbs and economic hardship.  The CEO at the top collects the pay off.  It would be extremely rare to hear about a CEO dying on the job unless he/she had a heart attack or die in a plane or automobile crash.  They just don’t die doing hard labor.

What seems to be over looked in this whole mine disaster is the safety of the mine to begin with.  We are so busy just worrying about the miners that not much noteworthy effort from news sources has been placed on this issue.  There was an accident in 2007 at this mine that killed two peoples.  There should have been much effort at that time to make this mine safer.   http://www.csmonitor.com/World/Americas/2010/0824/Chile-mine-collapse-sounds-alarm-on-safety-standards

This is the most important excerpt from this article:

Chile has a free-market economy where the first principle is to maximize profit without any other consideration. We need to take other things into consideration, including worker security,” Augustin Latorre, spokesman for the Mining Federation, an association of 22 unions at private mines, said in a telephone interview. “The state should offer, in particular in mines, the necessary security measures and inspections. We aren’t demanding that mines be closed, but that they be secure.”

This sounds so familiar.  We could talk about the BP oil spill or the recent coal mine disasters but the truth is corners have always been cut to maximize profits.

I don’t want to speculate about these miners and the real hardships they are facing over the next several months with their confinement.  Mika, on Morning Joe, actually laughed this morning in reference to the fact that these guys are being told to “stay slim”.  If you don’t know Mika Brezinski, she is the spoiled, entitled brat of Zbigniew Brezinski who has been on a “fat kick” for years.  She likes to tell people to go on diets.  I couldn’t believe anyone could be so cold to find humor in any of this.  However, she will never be a “worker bee” that faces eminent peril.  She is too far up the food chain!  It is a nightmare beyond imagination to wonder how the scientists are going to pull these guys up through some endless tunnel to safety.  I cannot even imagine the terror of going up a short length of a dark hole let alone one that is 2300 feet underground.  I cannot and do not want to think about being entombed in a dark hole underground anxiously wondering about my rescue.  My heart goes out to all these people and their families.

My heart always goes out to the “worker bees”.  These are the people that move a country.  They put food on the table.  They mine the minerals that we use in everything from energy production to computers and jewelry.  These are the workers that use manufacturing equipment that can literally crush them.  These are the workers that can have limbs removed because someone cut a corner and either bought old, unsafe equipment or didn’t teach them safety standards.

No one should laugh at any worker bee as they take all the risk and receive the least amount of benefit.  The CEO, the president, the person at the top gets the pay off.  They expend the least amount of risk and receive the greatest benefits.

It’s time that we reward those worker bees.  The people that are at the bottom of this proverbial food chain that have jobs that are not safe should be protected and rewarded with greater pay for the obvious risks they take to put food on the table for their families.  Often times these people know no other way.  Dad worked in the mine.  Grandpa worked in the mine and there is no other choice for them.  So, they work in a mine.  Many probably would prefer other work.  I know you’re thinking someone has to do this work.  That may be true but the jobs can be made safer and more lucrative for the workers.  It shouldn’t be just about maximizing profits.  There has to be some financial reward for workers that work in very unsafe jobs.

We may have to pay a bit more for the products or the CEO and the administrators and owners of the company may have to receive a little less “bonus” money but it needs to be done.  This isn’t a radical thought even though I know someone will say and think I’m a socialist.  I may be.  I don’t know.  That’s just a label.  I believe in social justice as I was taught with my Catholic upbringing.  It’s time that the worker bees banded together and demanded social justice for all.

CEO Pay and the American Dream

  • Posted on February 23, 2010 at 7:21 pm

Gary Markstein from Cagle Blogs

http://cagle.msnbc.com/news/CEOSalaryCaps/1.asp

I came across an interesting website yesterday.  I was searching for information on the cost of congress.  I read some things but happened upon this site.  http://www.bls.gov/oes/2008/may/oes_nat.htm#b00-0000 What is interesting to me about this site is in the area of healthcare support workers.  Since there are so many people in the baby boom generation getting ready to retire I kind of think there will be plenty of jobs in the future in the area of health care workers.  You know the low paying type jobs where people are cleaning bed pans and taking care of the daily lives of our aging population.  Our young people looking for jobs have so much to look forward to if they are in food service or healthcare support.  Maybe one needs to be an air traffic controller instead.  Even though Reagan busted that union in the eighties it sure looks like that’s a job some might want with the high pay.  An ambulance driver makes less than a bus driver.  Wow, when your life is on the line, who are you going to call?  Sadly missing from this list are the CEO’s of the corporations which earn multitudes more than anything on this list.  They get paid the big bucks making sure we get paid the peanuts.

The AFL-CIO has data on their website about CEO pay.   http://www.aflcio.org/corporatewatch/paywatch/

Wouldn’t you like compensation like this?  http://www.aflcio.org/corporatewatch/paywatch/ceou/top100.cfm I really don’t feel I need that much money and wonder why these guys need that much?  Is there ever enough?  The CEO for Visa makes almost $18 million dollars.  Little people with credit card debt should be mad as hell while they scrape their money together to pay their bills.  Omnicare, they provide pharmaceuticals for seniors, at least that’s what the web said.  I see lots of insurance and health care companies making the big bucks for the CEO’s.  The talking heads and Republicans are so worried about socialism.  Socially, I find these CEO pays unacceptable!  If you really search through the data on the AFL-CIO site it is quite interesting.  They list everyone from A-Z.  Do you know where your money is going?  My guess would be probably to some of these guys.

http://www.atimes.com/atimes/Global_Economy/IH31Dj02.html

Here is a snippet from this article:

American opinion on CEO pay
In the United States, only 32% of the public currently supports an outright pay cap on executive earnings. But average Americans appear to be every bit as outraged over CEO pay excess as average Europeans. Indeed, 77% of Americans say corporate executives “earn too much”. Only 11% admire “those who run” America’s “largest companies” either “a great deal” or “quite a bit”.

CEO pay isn’t limited to being a problem just here in the United States of America.  It is obviously a problem world wide as the rich appear to be getting richer and the poor poorer.  The bottom forty percent of the people in our country own less than one percent of its wealth.  It may be time for a revolution.  http://www.faculty.fairfield.edu/faculty/hodgson/Courses/so11/stratification/income&wealth.htm

If we can’t get Congress and the President to hear us, we may have to protest for the greater good of all the people.  I hear Republicans screaming about “Socialism” but if Capitalism is producing such a high discrepancy in the wealth distribution maybe we should consider more social type programs to even things out a bit.  It just isn’t right that it is getting harder and harder to earn a living wage in the U.S.A.  We all have heard since we were children about the “American Dream”.  You know the good job, white picket fence, nice house, nice car, healthy kids and the kids able to afford to go on to college.   And health care?  We never even had to hardly think about that.  My mom had fourteen children.  She used to spend about two weeks in the hospital.  Today all of that would be impossible!  All of the “American Dream” is in jeopardy at the current time for most of the American people.  There is a growing divide between those that “Have” and those that “Have not”.  I see it in my art classes.  Some students do a lot of traveling, have every toy you can imagine and some are just scraping by and hoping for some heating assistance for the winter months.  We need to shake up things in Washington D.C. before our communities all look like the war torn looking cities like Chicago and Detroit.  We must hold the Congress accountable for how they’re spending our money and who they are giving it to.  You know if they would have given that bail out money back to the people, I think the economy might have moved a bit.  They wanted to get money out in circulation.  The American people could have circulated that money a lot better than a band of bankers.  I’m sure they would have paid bills, bought vehicles, homes and everything else which would have stimulated this economy.  Congress in their infinite wisdom thinks we are too stupid to know what to do with our money.  Instead they kick it back to their friends and endorsers.  As a final note it will be interesting to see what Evan Bayh will do with his almost $14 million in campaign funds that he has left over.