Phil Gramm: It Was an Outrage That “Exploited” AT&T CEO Got Only $75 Million at Retirement

originally posted by: TrueBrit
a reply to: xuenchen

Millions of what?

Trust fund kids and stockbrokers?

those could be 2.

a reply to: neo96

That is not why companies outsource, and you know it. Companies move jobs over seas simple because it's cheaper to make it over there, and ship it back.

Yes because Americans aren't willing to work for slave labor wages. The poor and middle class are sooo greedy.

And you full well know that today EVERYONE is paying more the for LABOR to make products, and it costs to make them period.

Yes those poor companies having to pay their working slave maybe 15 to 20 bucks a week.

But hey blame them companies. Blah,blah,blah.

Well it is normal to blame the cause.

Someone does need a reality check, Sure the hell isn't me

It wouldn't work anyway because first you have to actually understand reality.

Greed is good.

-U.S.A

The delusion is strong in him.

a reply to: neo96

The average hard-working American lives on $26,000 a year.

This CEO just received (at least) $75,000,000 cash. That's enough for your average American to live 2,884 years (and if no investments are involved or interest). Not including all the money over the years he earned as an enormous salary.

So that's a conservative figure. His overall wealth accrued from AT&T and investments may be enough for 5,000 years of American life.

Bro.... A projection of how long his money would last an average American is longer than the AGE OF THE ENTIRE HUMAN CIVILIZATION. But Phil thinks he deserves even MORE !?!

Okok, I think Phil knows what is best. I will say a prayer for this CEO to overcome his hard times and poverty, on behalf of us peasants who only want the best for our gods.

a reply to: Blackmarketeer

AHAHA

This is so freakin funny

75 million retirement is an "exploited worker"

Ahh

I just love how removed from reality some people are

originally posted by: buster2010
taking advantage of the poor wealthy.

This is priceless

Poor wealthy

Sick and tired of demonizing CEOs and rich people. And no I am not being sarcastic.

You are in charge of Billions of dollars, tens of thousands of employees, relationships with other business leadership, government regulation, operations, capital, the list goes on and on.

And no, I do NOT care if they buy yachts, mansions, sports cars, etc,

Because each company he spends his money at is more people that have jobs, manufacturing, construction... that list goes on and on.

Just more whining from the have nots.

a reply to: YayMayorBee

Yeah great fine.

But to jump up and down and saying getting paid $150 million for retirement is being "exploited" is a joke and does not help the case of these people. Exploitation is working 2 or 3 jobs minimum wage and barely affording food and housing or working for $1 a day in a sweat shop at the age of 10!

WORSE

Is getting (more like buying)( a politician to moan and it intervene in congress! It not a public sector problem!

If he has a problem with his "measly" $150 million for retirement then it should be between him and the company or he should just STFU and live his hard life of poverty.

I have no issue with high paid CEO.

I have a issue with enitiled CEO making wild claims about exploration and hard ship when they dont even know the word.

I have a problem with them bribing....sorry I mean lobbying there politician friends to bend laws and intervene to sort problems out that should be out of there remit.

Get paid million buy yachts and mansions.......just don't be a twat, and if you are expect to get flamed.

originally posted by: neo96
a reply to: buster2010

Yes wasn't it such a great idea to give tax breaks to companies so they could move the jobs overseas the jobs that kept people from needing government assistance.

That is not why companies outsource, and you know it.

Companies move jobs over seas simple because it's cheaper to make it over there, and ship it back.

And you full well know that today EVERYONE is paying more the for LABOR to make products, and it costs to make them period.

But hey blame them companies. Blah,blah,blah.,

Someone does need a reality check,

Sure the hell isn't me,

So what Americans should be happy to work on a $1 a day in 3rd world sweat shop condition to compete with the 3rd world?

Never mind they would never be able to survive on that.....

originally posted by: YayMayorBee
Sick and tired of demonizing CEOs and rich people. And no I am not being sarcastic.

this thread is not actually about demonizing the ex-CEO - it is about calling a politician an idiot for saying a $75 million retirement package is insufficient!

Simple question for everyone. If you could be made a billionaire many times over by letting a man manage your life for the next 10 years, what would you consider a fair amount to pay him?

originally posted by: In4ormant
Simple question for everyone. If you could be made a billionaire many times over by letting a man manage your life for the next 10 years, what would you consider a fair amount to pay him?

Likely 50%

But that's between me and him and not the government!

originally posted by: crazyewok

originally posted by: In4ormant
Simple question for everyone. If you could be made a billionaire many times over by letting a man manage your life for the next 10 years, what would you consider a fair amount to pay him?

Likely 50%

But that's between me and him and not the government!

I'd probably agree. He did spearhead all the mergers.
"Whitacre led SBC through a series of mergers and acquisitions in building the largest provider of both local long distance telephone services and wireless service (through its Cingular division) in the United States. These acquisitions included Pacific Telesis (1997), SNET (1998), Comcast Cellular (1999), Ameritech (1999) and AT&T Corporation (2005), from which the post-merger company took its name, as well as the 2006 acquisition of Bell South."

a reply to: In4ormant

I would start with what was the agreement or contract?..I doubt they just winged it.

originally posted by: In4ormant

originally posted by: crazyewok

originally posted by: In4ormant
Simple question for everyone. If you could be made a billionaire many times over by letting a man manage your life for the next 10 years, what would you consider a fair amount to pay him?

Likely 50%

But that's between me and him and not the government!

I'd probably agree. He did spearhead all the mergers.
Whitacre led SBC through a series of mergers and acquisitions in building the largest provider of both local long distance telephone services and wireless service (through its Cingular division) in the United States. These acquisitions included Pacific Telesis (1997), SNET (1998), Comcast Cellular (1999), Ameritech (1999) and AT&T Corporation (2005), from which the post-merger company took its name, as well as the 2006 acquisition of Bell South.

To be fair I don't care what his achievements are.

The money issue is between him and the company.

Only reason I'm on this thread is because he has got a politician on his pay roll to intervention on a issue that for me and you is a private sector distbute.

I also take exception at the word exploited. He may have seen short changed or screwed over by a unfair contract,but exploited he was not. Exploited is paying a 10 year old $1 a day to work 12 hours in a sweat shop.

Either way I don't care what this guy got paid. End of the day it should have been kept between him and the company and we should not be hearing about it.

a reply to: vonclod

The "Golden Handshake" isn't usually set in stone.

originally posted by: YayMayorBee
Sick and tired of demonizing CEOs and rich people. And no I am not being sarcastic.

You are in charge of Billions of dollars, tens of thousands of employees, relationships with other business leadership, government regulation, operations, capital, the list goes on and on.

And no, I do NOT care if they buy yachts, mansions, sports cars, etc,

Because each company he spends his money at is more people that have jobs, manufacturing, construction... that list goes on and on.

Just more whining from the have nots.

AT&T gained roughly $20 billion in value over the tenure of this CEO. They had 256,000 employees. If the CEO is worth 1000 times what the average worker is worth he's worth 0.390625% of that total. Which means his share would be $78,125,000 of the corporations growth. They paid him $75 million in just retirement, which means they lost money on him. If you go by more typical wage rates, where a worker is paid according to 30% of the value they generated the company a fair wage for his tenure (including retirement) would have been about 23.4 million.

He wasn't exploited at all, he just doesn't like that he has to share the credit for doing well with others who also made it happen.

I'd work as a CEO for half that! Hey AT&T are you listening?! I am a avaliable professional that will work for half your CEO's wage so you can cut costs and pay your other employees more.

Oh you don't care about them? Oh...

a reply to: Blackmarketeer

Fools.......Create a problem and than sit back and watch the outrage and demands of change. This is how they gain and keep power and you are being played by falling into it's trap.



The changes they enact will limit liberty and consolidate more power into the ever growing oligarchy that is currently ruling the US and western world. And the people will cheer.......Hooray we won......YA.