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hbswk.hbs.edu...
I can't see any rationalization to explain this.
originally posted by: seasonal
a reply to: Edumakated
That doesn't excuse any info in the tread.
originally posted by: strongfp
a reply to: Edumakated
The top ten largest companies in the world are 90% not in the US.
The CEO of Arcelormittal the largest steel manufacturer in the world based out of Luxembourg makes about 1.4 million a year. Their average worker brings in over 70k a year.
All the top energy leaders in the industry have CEO's making well under a million a year. The China National petroleum CEO only brings in about 110k a year.
Toyota's CEO only shovels in about 1.2mill. While GM's CEO racks in over 28 Million. Guess those bailouts went to good use!
Walmarts CEO brings in more than 30 Million a year, yet their average worker makes 18k a year.
I know it's skilled trade Vrs retail worker, but, at the end of the day it just goes to show the divide from what a CEO in the states sees as what they deserve to what everyone else does.
Barra's 2014 salary was $1.6 million. With stock awards, some of which are based on meeting performance targets, she is expected to have total compensation for last year of about $14.4 million.
originally posted by: Edumakated
originally posted by: strongfp
a reply to: Edumakated
The top ten largest companies in the world are 90% not in the US.
The CEO of Arcelormittal the largest steel manufacturer in the world based out of Luxembourg makes about 1.4 million a year. Their average worker brings in over 70k a year.
All the top energy leaders in the industry have CEO's making well under a million a year. The China National petroleum CEO only brings in about 110k a year.
Toyota's CEO only shovels in about 1.2mill. While GM's CEO racks in over 28 Million. Guess those bailouts went to good use!
Walmarts CEO brings in more than 30 Million a year, yet their average worker makes 18k a year.
I know it's skilled trade Vrs retail worker, but, at the end of the day it just goes to show the divide from what a CEO in the states sees as what they deserve to what everyone else does.
Four of the Top 10 largest companies by revenue are US companies.... Walmart, Berkshire, Apple, and Exxon.
The Fortune Global 500 top 10 list by annual revenue
WalMart Stores (US) - $485.8bn
State Grid (China) - $315.1bn
Sinopec (China) - $267.5bn
China Natural Petroleum (China) - $262.6bn
Toyota Motor (Japan) - $254.7bn
Volkswagen (Germany) - $240.2bn
Royal Dutch Shell (Netherlands) - $240bn
Berkshire Hathaway (US) - $223.6bn
Apple (US) - $215.6bn
Exxon Mobil (US) - $205bn
The Chinese companies are basically the government since they are state owned, so I don't even know if I'd really count those but whatever.
Further, 132 of the Fortune 500 GLOBAL are US companies. So 26% are based in the US. The next closest is China, but again, is that really apples to apples.
Rank Country Companies
1 United States 132
2 China 109
3 Japan 51
4 France 29
5 Germany 29
6 United Kingdom † 21
7 South Korea 15
8 Netherlands † 15
9 Switzerland 13
10 Canada 11
Regarding your Toyota to GM comparison. While it is true he only got paid $1.1 million, he controls shares worth $250 million. His family owns Toyota. CEO of GM, Mary Barra made $28 million, but I'd be surprised if she owns $250 million worth of GM shares. From 2014 article on Mary Barra:
Barra's 2014 salary was $1.6 million. With stock awards, some of which are based on meeting performance targets, she is expected to have total compensation for last year of about $14.4 million.
So again, her salary was relatively low but the bulk of comp comes from stock options based on performance. I don't have time to find the 10ks but I did find an article where she was awarded about 75,000 shares.... GM at the time was at $37 a share, so call it $3 million.
Elon Musk only paid himself $37,000 as CEO of Tesla but he is worth $10 billion from his shares.
Facts are stubborn thing.
This is one of the regulatory frame works that is contributing to economic inequality and stagnation in wage increases. The income of ceo's and other wealthy people have increased in the US, but not for other classes.
originally posted by: seasonal
What can I say, today I was in a graph mood.
What could be the reasoning for the pay disparage for CEO pay the chart from 2013 shows? Are the CEO's of the US more talented than all the others? Or are the US workers so crappy that the 472:1 ratio is perfect? (A Harvard CEO pay estimate is 373:1).
As this graph shows the corporate profits have substantially risen while worker share of the "pie" has sharply declined. The graph also shows that this is a fairly recent occurrence. This is a very dangerous trend.
hbswk.hbs.edu...
And then we have lobbying.
The graph shows that pharma is the top dog when it comes to lobbying. This may be the very reason many can't afford health care. Pharma costs removes large amounts of money from the privatized socialist system pool of money to pay the very very high pharma costs. This effects US workers as the US is #1 in healthcare costs with little in the way setting the US system apart from any other industrialized nation besides cost.
This could quite possibly be the most concerning bit of info that I have seen today. The growing divide is usually accompanied by an opposite event to correct the inequality, and usually not pleasant. As a fairly successful small business owner I see a problem with how the money is being divided, and I can't see any rationalization to explain this.