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scamper22Jun 22, 2011
walmart has 2.1 million employees
CEO makes 21 million/year including stocks
If you think CEO pay is 'stealing from the workers'... do the math.
If you took the entire CEO of Walmart pay including stocks and redistributed it among the workers... it would amount to an amazing... get this...$10 / year!
CEO pay being high might be morally wrong... but lowering CEO pay or taxing it isn't going to improve workers.
kasha34Jun 22, 2011
What! Using a calculator is cheating! It's easier to just point at a rich guy and say "He has more than you! It's not fair!"
killersquirelJun 22, 2011
kasha being a tool again.
witnessxJun 22, 2011
Good stuff. People need to see data in a different perspective, such as this.
crystalagehaJun 23, 2011
It's not that he's 'stealing from workers', it's that he (and every other top percentage person that the article was trying to make a point out of) is making way more than he should, and waaaayyyy more than even the wealthiest of Americans (which is waaaaaaaaaaayyy more than the average American); the money can and should be distributed and used elsewhere - anywhere. Really, who needs that much f**king money, especially for doing so little, and especially~ when so much of the country is falling in the gutter right now?
amazetbmJun 24, 2011
Math wasn't one of your strong subjects, huh? Economics, neither.
scamper22Jun 24, 2011
If it's not that he is taking from the workers... then why would you care how much someone else makes?
I already showed the math. Redistributing the money he makes isn't going to make a shred of difference in the lives of the workers.
That's the whole point... in case you missed it. CEO pay seems like a lot... but when you take into account the number of people to receive redistribution, it doesn't amount to much.
It's the same with sports athletes. There are too few of them. The New York Yankees might spend 100 million on salaries... but there are very few star athletes. Can you guess how much money was spent on the New York City Education budget? It's probably close to 20 BILLION dollars.
In short... even if you are jealous of baseballs players and taxed them at 100%, and gave all that money to teachers, it would amount to squat in a 20 billion dollar education budget.
So the point in case you missed it again... is.
Redistributing the wealth of CEOs or all star athletes isn't going to do anything for society.
Just do the math... I know it's hard.
amazetbmJun 22, 2011
Oh well...develop a product, market it and get it on their shelves...or Amazon. I'm not a Wal Mart share holder, nor to I even shop there. I could care less how much the CEO makes vs. and average employee. In any case whine about "big evil corporations" when the reality is that 38% of the private sector workforce works for large corporations. 53% work for small businesses. Even still the business owner is going to make more than the employee...the pay "disparity" is relative to the size of the company.
superkendallJun 22, 2011
Exactly, that "overpaid" CEO is employing millions, while the worker is employing no-one. There is value is knowing how to keep a large company going and providing jobs.
unit001Jun 22, 2011
To quote Jack Donaghey from 30Rock, "That's why my job is way better than yours."
novenatorJun 21, 2011Submitter
CEO pay compared to an average worker at said company 1970-today (interactive slider): http://www.portfolio.com/interactive-features/2007/06/salary_comparison
A small number of people known as Executives rake in one third of ALL the pay in America http://thinkprogress.org/politics/2009/07/21/51995/executive-pay-wsj/
The US going to surpass Mexico in wealth inequality by 2020, things getting worse steadily: http://en.wikipedia.org/wiki/Gini_index
bcronosJun 22, 2011
And again, how is it any of your business how much the CEO of a company makes if you're not a shareholder? Are you guys just trying to incite class warfare?
If you owned Walmart, would you offer say a million a year to prospective CEO's and choose the best one that applied, or would you you pay whatever it took to get the very best?
Ask Ben and Jerry how well it worked out years ago when they decided that no one in their company would make more than $70k per year (except themselves of course). I'll give you a hint: that policy lasted about as long as a firecracker on Fourth of July...
porchsongJun 22, 2011
What I love is the hypocrisy of the Lefties. They don't blink when an actor makes 20 million for one movie and can do a couple of movies a year. I mean, how hard is it is be told what to say, where to stand; and if you make a mistake, you get numerous attempts until you get it right with little to no consequences? You also get to behave like an ass and have everyone to kiss your ass. You also do not have to report to stockholders nor do you have employees that rely on you. If you screw up, a company doesn't fail and all your employees get screwed. You also did not go to the most prestigious schools and bust your ass to get there.
Why this culture has suddenly turned on "Eeeeevil Corporations" is really dumbfounding. Capitalism is what makes America as great as it is. Don't bemoan someone for busting their ass and risking it all.
FPSmotoJun 22, 2011
Wow, I knew people were intolerant, but why are you taking it out on all us left handed people? Tisk tisk..
porchsongJun 22, 2011
Because you guys face the wrong way on the golf course. . . .
fertilebastardJun 22, 2011
Both dug for humor...
xwhyJun 22, 2011
And you start off two steps closer to first base.
nixonreaganmanJun 23, 2011
"I mean, how hard is it is be told what to say, where to stand; and if you make a mistake, you get numerous attempts until you get it right with little to no consequences? You also get to behave like an ass and have everyone to kiss your ass. You also do not have to report to stockholders nor do you have employees that rely on you."
Liberals select Hollywood 'icons' to worship with the same standards as they choose Presidents.
novenatorJun 22, 2011Submitter
So what you're saying is that the Guilded Age of the Robber Barons was just fine and dandy then. Gotcha. What business is it of ours? We have every business demanding fair treatment at the workplace. CEO's rake in over 400 times what an average worker does...but only in the US. Other countries don't have this immense differential in pay. Japan for instance, with all of their economic weight, CEOs are paid 20 times what an average worker is. That means more of the wealth created by the workers with their labor is theirs to keep, plain as that.
Entire countries have been robbed by schemes like what is going on in America. Do you think Haiti was always as poor as it is today? It had a system imposed on it that stole all of the wealth, then left them. The same thing is happening in America, and you're on their side!
The American Dream requires a fair days pay for a fair days work.
bcronosJun 22, 2011
So who decides the ratio between CEO's compensation and the workers compensation in a free country? You? The Federal Government? Some committee? Or the free market...
YOU are willing to hand over control of your life to a huge central entity that you have absolutely no control over, but that you've been led to believe has your best interests at heart.
WE are not.
We want power kept at the local level where we really do have control over it, as the founding fathers understood.
That was the whole point of the founding of the country you now live in and criticize at every opportunity. Studied American history much? Isn't freedom wonderful? Why you argue so adamantly for it's demise, since it's the central tenant of your existence here, is beyond reason.
You choose to ignore a hundred years worth of failed socialist idealism and the 100 million dead bodies it created trying to make it work. It all sounds good on paper, but socialism will never succeed because it always tries to convince the 30% of us that will never be willing slaves to acquiesce through violence. And that just makes us more resolved, as history proves.
If you can't make it in the country of self reliance and freedom then go live in one of the two hundred countries in the world where they don't exist.
"You can't separate peace from freedom because no one can be at peace unless he has his freedom." -- Malcolm X
I'll survive on my own merits thank you, you just keep advocating for someone else prop your ass up...
novenatorJun 22, 2011Submitter
Have you ever been to a Nordic country? Things work pretty well there you know, and they don't suffer under the illusion that corporations are people with more human rights than actual humans. They also don't allow their CEOs to siphon money away from society on the backs of the poor and middle class workers and hide it in overseas tax shelters. We could learn something from them!Comment is buried, click here to see the rest.
bcronosJun 22, 2011
Are thousands of people lined up at the border of Norway waiting to sneak in...? Naw, it's the home of the free and the brave that has that problem...
As for the corporations:
"Capitalism is so darn good at what it does that it can even bamboozle muddleheaded socialists to cough up money for its products; that's wonderful."
kasha34Jun 22, 2011
@novenator
Are you saying that the Nordic countries have laws limiting executive pay? Cite, please.
bcronons
Actually Norway, along with most other European countries, has big big problems with Muslim immigrants.
novenatorJun 22, 2011Submitter
bcronos, your delusional logic would have us think that immigration is the deciding factor on how free a country is, when it is the economic divide and proximity that is the issue. You see tens of thousands of folks from Indonesia trying to get into various repressive Gulf states to find work, so by your standards Saudi Arabia must be the land of the free too!
How dare the government tell someone they can't refuse service to a black man, or a gay man! How dare the government tell someone they can't beat their wife, or own slaves. You're fanaticism would regress us back to the 50s...the 1850s.Comment is buried, click here to see the rest.
MusicManGPJun 22, 2011
bcronos - Mexico doesn't border Norway. If it did, they'd try and go there too.
bcronosJun 23, 2011
Sorry you couldn't form a cognizant answer to my questions...
fertilebastardJun 22, 2011
Let me get this right... you are equating the political and economic system here in the states with the corrupt tyrants that have ruled Haiti?
I propose that Novenater be named payroll czar. Who knows better what everyone deserves to get paid?
superkendallJun 22, 2011
Funny you should bring up Robber Barons, since they were an artifact of railroad owners using government connections to prevent competition:
http://mises.org/daily/2317
I agree with you that government control is bad. But are you sure that's what you meant to say? If so, glad to see you coming to your senses.
mrteflonJun 22, 2011
Prepare for a onslaught of Corporate PRO CEO apologists.
The same ones who claim there are top paying jobs with great medical right around the corner from your home..Comment is buried, click here to see the rest.
arpadJun 22, 2011
How's that class warfare scam working out for you lefties? Not so good?
Probably people are catching wise that the reality that follows lefty promises never comes anywhere near matching those promises.Comment is buried, click here to see the rest.
whmeroeJun 22, 2011
There are but you need to be smart enough to a) find them or b) make your own. Stop worrying about everyone else who has more than you and go make your own way in life.Comment is buried, click here to see the rest.
mrteflonJun 22, 2011
Nice argument . I suppose the rural or closed mill town or out of work middle class educated people should just pack up their entire families and move 500 miles away to the big city's to get that precious part time no benefit McDonalds job huh?
Pretty sad there are 300 applicants for every decent job out there ehh?
Provide decent jobs and decent benefits and the people will spend for their families and really boost the economy.
Right now there are college graduates out there vying with non college grads for lousy Starbucks jobs.Comment is buried, click here to see the rest.
macparrotJun 22, 2011
Which has nothing to do with how much a CEO makes. Unemployment is not about what managers make vs the rank and file.
martoqJun 22, 2011
For someone giving advice on making your own way you seem to have a lot of opinions on how everyone else should be thinking.
Unregistered_CowardJun 22, 2011
Why stop with the CEO, Novie? Why should a doctor be paid more. Or an engineer? What about teachers?
Where would you like to put that line? How much do you think is fair?
You're all prattle and no solution. The loudest of the whiners and the most useless of the assembled.
Go on your little f**king march to DC. Raise your fist up, vow to smash the machine.
By the way, hows your boy Anthony?
novenatorJun 22, 2011Submitter
At least I'm trying to do something to make this country a better place. You're celebrating it's demise.
bcronosJun 22, 2011
Trying to turn a hugely successful capitalist country into a second rate socialist utopia is not trying to make us a better place... Go to Norway... and thrive in your idealism...
MusicManGPJun 22, 2011
Because that's what any change will be, automatic total socialism.
amazetbmJun 23, 2011
The U.S. is neither totally capitalist nor has it completely forsaken some social programs. It is a shaky balance of both.
macparrotJun 22, 2011
Nov, the point is you can't pick and choose where to put that line. You seem to think that, "OK it'll JUST be CEO's that make too much money" but that's never how it works out.
Oh and Unregistered Coward, stop making references to Digger's lives outside of Digg. It's creepy and more than a little douchey. Yes I know you ALL have accused each other of it countless times. Doesn't make it right in either case.
bentman78Jun 22, 2011
The Walmart CEO is doing something for the country. He's running a company that provides goods and services to millions of willing Americans every year.
So now you're the end all be all of who provides for the common good? That's the making of a tyranny.
bcronosJun 22, 2011
"You're all prattle and no solution" ---
Actually, novie is all hat and no cattle... but excuse the interruption...
neotechniJun 22, 2011
Im sure those employees could afford better edication if they were paid enough
whmeroeJun 22, 2011
LOL it is NOT our job to ensure they are educated. It is the responsibility of each individual.
superkendallJun 22, 2011
But do you honestly most would SPEND it on education?
They have not to that point. Why would that change?
amazetbmJun 22, 2011
If they spent some time looking for grants they could practically go for free. Even Ivy League institutions like Harvard give students from disadvantage house hold virtually a free ride if they maintain above a certain GPA.
Closed AccountJun 21, 2011
Tell you what. If you take that cashier, that can barely speak understandably with their numerous piercings and tattoos. That tries to ring me up while yelling at their friend walking along the aisle while reading texts or texting (if they can sneak it by). That has a surly attitude and approach to customers. Bagging my eggs on the bottom and the watermelon or gallon of milk on top.
You take that person and put him in charge of running Wal Mart. If he does it successfully, then we have something to talk about. If not, well, there are worker bees and there are Queen bees.
mlw4428Jun 22, 2011
Not all Wal-mart employees are like that. In fact I've yet to meet a Walmart employee that exhibited any of the attributes that you seem to claim are the standard and not a stereotype
Also no one is claiming that they are as smart as the CEO is. But Wal-mart would not work if there weren't people getting products, loading them onto trucks, driving those trucks to the store, unloading the trucks, stocking them on shelfs, scanning/bagging/collecting payment, keeping theft down, keeping the store clean, and everything else that makes going to Wal-mart bearable enough for Wal-Mart to make billions in profit. There is simply no reason that Wal-Mart couldn't:
A) Raise benefits or make them more affordable
B) Pay their employees a livable wage
C) A&B
The article is suggesting that there is no reason a CEO needs to make 1093283027492834792834792387492837424 times more then the average employee.
Closed AccountJun 22, 2011
Walmart could work without people doing that. All they would have to do is train some monkeys to run items over a scanner.
These are not skilled positions, and they should not expect the salaries that skilled labor commands.Comment is buried, click here to see the rest.
justokJun 22, 2011
and what CEO level decisions are so difficult?
jpsy422Jun 22, 2011
well, running a company that is worth as much as a medium sized country probably brings along some decisions that warrant a higher pay grade than decisions like "paper or plastic"
justokJun 22, 2011
that's typically NOT the line workers decision, but it IS the decision of both the customer and the CEO.
rcook18Jun 22, 2011
Very tough decisions, like: 'Should I do this by myself? Or, should I hire an office staff who know more than me and do all the work?'
Are those the tough decisions you are talking about?
What kind of stupid person tries to justify CEO wages by saying they know more than a cashier?
dauntless1Jun 22, 2011
@those above me in this thread.
Multiple studies on the pay / performance / worker quality debate have all shown the exact same thing.
This video shows the basic concepts, and is at least entertaining. Enjoy. I'd like to hear your various thoughts about it afterwards.
http://www.youtube.com/watch?v=u6XAPnuFjJc
theskinsfactoryJun 22, 2011
@rcook18 What kind of stupid person thinks they are even remotely in the same league?
Do you have any idea what it takes to run a multi-national, billion dollar company? I'd like to increase your wages so you can buy a clue.
partrowJun 22, 2011
Market wages are being paid to both the clerks and the execs. And they and all of the ones between are all working willingly, or they wouldn't be there.
You want the owners (shareholders) (probably including you, if you have a 401k or a pension) to pass out some extra money to the clerks because you don't feel they make enough?
amazetbmJun 22, 2011
Are you willing to pay or the labor cost mark up or accept lower quality products to cover the added expenditure? If you want a livable wage upgrade your skill set beyond that of one that only qualifies you as unskilled labor.
ajajadudeJun 22, 2011
While I don't think cashiers should be making $40/hour, you do get what you pay for. When you're paying someone minimum wage, especially in retail, you should expect to get less than a stellar employee.
CEOs and executives do work a lot and do deserve to make more than the worker bee. But, does their value to a company justify exponentially higher earnings than the people who are tasked with making the company money? The suits come up with the ideas, but the frontline people are the ones who have to successfully implement those ideas.
If I'm paying one of my cashiers $9 an hour, I'm not expecting much more than him or her correctly ringing up sales, playing nice with customers, showing up on time all with a smile on their face. Especially when I can't give my cashiers consistent hours from week-to-week.
Closed AccountJun 22, 2011
Then I guess ALL retail should expect worse labor than Walmart since Walmart pays more than pretty much every other store. (Walmart starts workers at an average of 75 cents above minimum whereas target, K-Mart, etc. starts at exactly minimum.)
ajajadudeJun 22, 2011
Yeah, and most places I shop at have s**tty labor. I work in retail and many of the people I have are worthless and those are the newer employees getting $9/hour and 15 hours a week.
FallteaJun 22, 2011
Worker bees and Queen bees ... or Slaves and Owners? except this time we are slaves to money.
My argument is never that they shouldn't be paid a lot ... but at a certain point don't you think that the people that keep his company going should be paid like they matter. The argument that trickle down economics works has been spit out for a long time and we have yet to see an improvement in the middle class ... quite the opposite really.
Bashing a huge group of people based on some bad experiences is ok ... but bashing a group of people based on decades of bad experiences is bad. I don't care if I ever make a ton of money but I feel bad for people that work their asses off for pennies when they deserve more.
I will get dugg down I know.Comment is buried, click here to see the rest.
irvman21Jun 22, 2011
The CEO of Walmart most likely provides more value in 1 hour than the average employee does in a year, this is how it works.
novenatorJun 22, 2011Submitter
Tell that to the floor cashier with carpal tunnel, or the stocker with a lifetime of back problems, or the truck drivers who have to deal with living in the cab of their truck. Nobody sacrifices more than the working folks at the bottom, and they quite frankly deserve a greater share of the wealth that they *create* through their work.Comment is buried, click here to see the rest.
amazetbmJun 22, 2011
They get paid according to their skill set. If they want a greater share of the wealth, get a skill set that demands higher pay...or start a business. After a few years your average truck driver has learned enough of the ropes to start his own shipping company. The stocker could have figured out a better way to manage inventory. What's stopping them from doing that other than lack of drive?
novenatorJun 22, 2011Submitter
Where your philosophy falls short is here: what if *everyone* got a good education? What if everyone at Wal-Mart suddenly went to business school, then 2 years later came back and applied to be managers at wal-mart?
Who would stock the shelves? Who would clean the toilets? Who would run the checkouts?
In any society, there are different things that simply need to be done. Blaming the poor for their own suffering is like beating a dog for cowering when you raise your hand to him (well, not exactly, but you get my meaning).
We need to show the workers who do the work some respect, and that starts with making sure they get to keep more of the wealth they create through their labor.Comment is buried, click here to see the rest.
unit001Jun 22, 2011
No his philosophy is correct because it is based on the fact that some people are unmotivated and willing to accept mediocrity. His philosophy expects that everyone WON'T go out and get MBA's and start their own business because he knows that some people are just trying to get by and aren't going to bother starting their own business or inventing the next big thing. He knows some people just say "meh" and there are jobs for them at Wal-Mart.
bcronosJun 22, 2011
"...and that starts with making sure they get to keep more of the wealth they create through their labor."
They already have the right to keep ALL of the wealth they create through their labor, except of course what the government steals from them first... but you agree with THAT theft...
MusicManGPJun 22, 2011
Taxes aren't theft. You're free to leave the US.
amazetbmJun 22, 2011
You post like an idealistic college student with an undeclared major. Learn some pragmatism. I don't EXPECT *everyone* (ha) to improve their skill set. But those that do should see higher pay for their efforts. Should the C student be on the honor roll because they're likable? Should the team that lost the championship game get a "participation" trophy so they won't be totally devastated? Of course not. The same goes for the work force. If they screw off 13 years of free education then turn around and don't take advantage of the opportunities to get a free ride through higher education or get certified in something...they shouldn't expect great pay.
You have millions of dollars of your tax dollars, in education grants and small business loans, that go unclaimed every year. Because the same mediocre folks don't acquire the drive to at least go library (that their tax money has paid for) to research how to get those grants and/or loans. The government has already laid out the funding for people to level the playing field...but it requires them to get motivated to do so.
immunofortJun 22, 2011
So its the CEO's fault that employees with no real marketable skills are working in the positions such as floor cashier, stocker or truck driver? Nobody is forcing them into those jobs, having said that they probably can't get much better jobs than those because they probably don't have any real skills, and whos to blame for that? Nobody. Thats just how life is sometimes. Do you expect the Walmart to start paying all their low level employees hundreds of thousands of dollars just because they "worked hard".
And frankly your examples are a bit exaggerated. Most of the workers living in those jobs are just fine. You can just as easily find white collar employees who have carpal tunnel as well.
Life's not fair, get used to it. If your life sucks, then so be it. A lot of the time its nobody's fault, maybe not even your own.
largomintJun 22, 2011
remember your own advice the next time you break your leg and need extensive surgery to repair and you lose your job.
Life is not fair, and one day your words will come back at you.Comment is buried, click here to see the rest.
rcook18Jun 22, 2011
You are an idiot.
fertilebastardJun 22, 2011
Nice comeback argument.... No Walmart CEO pay for you...
Closed AccountJun 21, 2011
That ratio use to be only one month.
Before the republican revolution.
partrowJun 22, 2011
What is the ratio supposed to be?
Unregistered_CowardJun 22, 2011
Don't ask them that, that requires an answer.
novenatorJun 22, 2011Submitter
I think 1:20 is pretty fair. That would give a good incentive for CEOs to raise wages at their company, maybe even to where folks could live on it (thus the term: a living wage)!
bcronosJun 22, 2011
Thanks for deciding that for us, but could you please explain where my right to negotiate my own contracts went?
macparrotJun 22, 2011
And it's been asked before, even taking away all those millions would not make any real difference in employee's pay if redistributed.
Frankly I like what Steve Jobs and quite a few other CEO's do in that they get no real pay, but stock options and (in Job's case) a private jet. Gives them more incentive to see the company do well. Something I would like to see go away are golden parachutes in which high profile executives make a lump sum payment if they get fired or removed for some reason. That's like these stupid pre-payments to athletes. Gives them no incentive to actually perform.
fertilebastardJun 22, 2011
If lowest is minimum wage, that comes to around $290,000/ year for the CEO.
If the CEO makes $600k then the lowest paid person makes $15.00/ hr.. Too bad about those greeters and marginal workers that are going to lose their jobs.. (see Economics 101)Comment is buried, click here to see the rest.
njwindsormedJun 22, 2011
Chances are also that the CEO of WALMART also is MUCH MUCH better educated, spends more time working, and work invest time in the company despite the pay (since he could clearly retire right now and live a comfortable life on one year of pay), is motivated, has a proven track record of consistency and results, furthermore, he probably knows the inner workings and keeps up to date on all the details and inventory, AND invests a lot of that money back in the company...
miklkitJun 22, 2011
The Walton family is also complaining that their customers can't afford to shop there anymore. Ponder that.
coffeeroxJun 22, 2011
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ravagedsoulJun 22, 2011
"Wasteful"? He's not burning the money, you know. It's either spent or invested and either/both help the economy. Oh, and in between he pays taxes on it.
If he got paid nothing and the 35 million was distributed to every employee, they would each get a whopping $16.Comment is buried, click here to see the rest.
coffeeroxJun 22, 2011
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macparrotJun 22, 2011
It can't pay for more employees if they aren't needed at a particular skill set.
ravagedsoulJun 22, 2011
"paid in bonuses" ... bonuses are taxed as regular income (actually, you pay much more tax on a bonus payment than on weekly salary.)
If he was paid in stock options (which is not the case), then he still pays taxes, though it's much more complex and yes, a lower rate. However, simply getting stock options means nothing until you sell the stock; until then, you have only paper.
Finally, it doesn't matter if he spends his money on "stuff" or saves it. Money in "savings" still gets invested in companies and public works projects, either directly by him or by the bank he puts it in.Comment is buried, click here to see the rest.
bcronosJun 22, 2011
He gets that much for TAKING RESPONSIBILITY.
Why does the foreman for a ditch digging crew get paid more for standing there than the guys digging the ditch? Because HE'S RESPONSIBLE for getting the ditch completed. That's his part of the job.
Get it?
coffeeroxJun 22, 2011
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macparrotJun 22, 2011
So who supposed to decide how much compensation he gets? You, or the stockholders of that particular company?
fertilebastardJun 22, 2011
Coffeestones, The CEO getting $35 million affects you how?? ... IT DOESN"T!!! This is envy and vindictivness on your part.
Back to your video games there Spartagus.Comment is buried, click here to see the rest.
Unregistered_CowardJun 22, 2011
Nothing stops that motivated cashier from going out and getting a better job.
coffeeroxJun 22, 2011
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macparrotJun 22, 2011
So what? Does that cashier have an advanced degree in economics or business? Have they set serious life goals and worked hard to achieve them? Or have they squandered many opportunities and just gotten by? There are many people from poor backgrounds that have become very successful because they were willing to do the hard work and make sacrifices. It CAN be done without having someone hold your hand all the time.
coffeeroxJun 22, 2011
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macparrotJun 22, 2011
@coffee
So what? Not everyone can be CEO of a huge corporation. That's the way it works.
whmeroeJun 22, 2011
Because that is the value the company puts on the cashier. Don't like it then don't work there. Can't work anywhere else? Well that's just a stupid excuse to be lazy and complain.
coffeeroxJun 22, 2011
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macparrotJun 22, 2011
And it's a stupid point. The cashier CAN get a better job. Go to night school, learn better skills. If they can't because they have kids or other actually very good reasons as to why higher education isn't an option it still usually comes down to choices made when they were younger
coffeeroxJun 22, 2011
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coffeeroxJun 22, 2011
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macparrotJun 22, 2011
Not everyone can make 35 mil or be CEO. But they can improve themselves and make more money and if they're lucky, have the right connections, make the right decisions that show their value, they can become a CEO. There are so many factrors involved that it isn't worth calculating but for every 35 mil CEO their are others just as qualified that missed an opportunity. That's life
immunofortJun 22, 2011
"We don't know the daily schedule of a CEO. I'm pretty sure there are CEO's out there that spend an hour or two online shopping, keeping track of their families, do other non-work stuff. Do you realize how much they are paid for those two hours?"
That just shows how ignorant you are. You don't have to be a genius to use google, which if you had you would have found one example of a typical CEO's day
"Running such a large region, I'm usually travelling over 50% of the time. My typical day starts at 7:30 by connecting with our European offices, followed by meetings with our management and top executives, who are either Michael Page clients or candidates. I also frequently run internal meetings and training sessions with our staff to stay close to operations. As a typical European, I've always enjoyed a lunch to break up a long day and create deeper relationships with my business network."Comment is buried, click here to see the rest.
coffeeroxJun 22, 2011
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njwindsormedJun 22, 2011
The CEO probably is self motivated, is much much better educated, is more connected, works despite the benefits since he does need the money, keeps up to date on what the competition is doing, has a proven track record of results, and is hard working and goes in extra hours and does extra work without being asked and is always on time...
rcook18Jun 22, 2011
Either that or he is drug addicted and thinks he knows more than he does.
babywookieJun 22, 2011
What more useless than a f**king CEO? A janitor contributes more. Businesses should be be ran by workers' comities.
tomasiiJun 22, 2011
You are likely unemployed. Is that the reason you hate successful people? You have at least one grammatical error and a spelling error in your short comment. Go to school, learn to read and write and maybe one day you too can get a job.
babywookieJun 22, 2011
You are likely a giant teabagger douche. Is that the reason for your hate and contempt for those who are less fortunate than you? What if I was under or unemployed, like tens of millions of Americans are right now? Is that supposed to be some kind of a put-down? Are they all lazy and uneducated in your view? Personally, I think that most of them are not and happen to be victims of the current economic situation, created by callous robber baron banksters, CEOs and enabled by their (mostly Republican) political allies. The problem with right-wingers like you, is that you are seemingly incapable of empathy and compassion to the point of psychopathology.Comment is buried, click here to see the rest.
tomasiiJun 22, 2011
Again, your lack of education makes you are poor debater. You must use ad hominem attacks along with gutter language to make a point.. While that may make you feel better, you automatically lose in any debate with substance. You also must have deep seated low self esteem rising from your lack of success. You see things in my comment that just aren't there. Then you use the excuse that unemployment is not the fault of the individual (which in many cases true) but the fault of a whole string of folks. This is typical liberal dogma. If people are responsible for their own well being then they don't have to rely on the government. And you end by erroneously (look it up) psychoanalyzing me and stereotyping me with the "right wing" which to you is an obvious insult. Again, education could be the answer for you. First get your GED then maybe community college will accept you. I think if you can limit the number of errors on your resume, you might be a great candidate for assistant manager at the McDonald's some day.
babywookieJun 22, 2011
You automatically lost the debate when you began with picking on my typos, minor grammatical errors and projecting your imaginary unemployed, uneducated poor persona onto me. Tell me that that's not "ad hominem"? The truth is, my written communication skills have decreased in the past couple of days here, due to the fact that I staying home with a flu and am knocking myself out with NyQuil. In addition, English is not my first or even my second language. Overall, I am pretty happy with my university B.S. degree, my B.A. degree and my still improving English skills. What type of education do you have? Something completely f**king useless, like an M.B.A.? You sure come off as an M.B.A. or lawyer type.
tomasiiJun 22, 2011
Sorry you have been ill, and I am glad you are trying to improve yourself. I didn't know the flu caused one to be unable to express oneself without gutter language and correct grammar and spelling, but hey, it is 25% alcohol. You may want to try and limit your use of the "F" word in those "educated" circles in which you must run with your big ole degree. It just makes you seem more like an 8th grader than a college educated liberal. No use in going any further with this. The last word is yours if you want it.
bcronosJun 22, 2011
You really have a cargo cult mentality of business don't you?
whmeroeJun 22, 2011
That's awesome now get back to work.
Closed AccountJun 22, 2011
thumb up AND a laugh!!
slowpitchJun 22, 2011
Boo hoo. Somebody makes a lot of money and I don't. Why don't you play for the NBA or the NFL if you can't cut it as a CEO. Lots of openings as Hollywood stars if you aren't gifted. How about a government consultant? Lot's of money for doing nothing. How's that Facebook networking possibly failing? Sorry for your unfinished tattoo but money talks.Comment is buried, click here to see the rest.
barackalypseJun 22, 2011
And how much profitability can the average Walmart employee impact with their decisions? Oh Alternet, will you ever give up the tired class warfare crap?Comment is buried, click here to see the rest.
Unregistered_CowardJun 22, 2011
Without class warfare, Alternet and Liberal Art Clowns such as Novenator cease to exist.
bentman78Jun 22, 2011
So who cares? No one is forced to work at Walmart. When you get a job there you voluntarily agree to the terms of employment - if you don't like it you can leave and find another job...
Also, this is nothing more than class envy. He's the CEO his job is to ensure his shareholders receive maximum profit. If he negotiates the salary and Walmart pays it there isn't an issue.
Buried for stupidity.
davidtcJun 22, 2011
It must suck to get so butthurt over other people making more than you. In fact, if I were that butthurt I would want people to be taxed 94% so their money that they made can be spent on me.
kasha34Jun 22, 2011
The owners of the company are paying him. If the owners of the company are okay with it then why is it YOUR business.
Note: if the owners of the company decide to pay execs less, there's no reason that "extra" money should go to the employees. As a stockholder, I'd rather the money come to me.
largomintJun 22, 2011
Great article.
alanocuJun 21, 2011
Surprised it's not more than that. Does the CEO of walmart earn what Nancy Pelosi, George Soros, or John Kerry makes?
mlw4428Jun 22, 2011
I noticed a luck of Republicans being named...many of whom are richer than the above mentioned. But I realize being a Republican you'll turn a blind eye to those like Bush (who has a net worth higher than Soros) because it doesn't support your cause.
Funny thing is that this article had nothing to do with politics and was focused on wage inequity in the US. Your attempts to push your conservative BS is hilarious at best.
BTW, over the many millennium that man has existed whenever a group of overly powerful and rich people worked to make slaves out of the working class there was rebellion followed by vast changes and (in many cases) a lot of deaths. Continue keeping your foot on the poor/middle class and drowning them and you may find yet another rebellion that you can't manage. This is not incoherent babble and has happened countless times over the years. I believe a few kings were even beheaded....think on that.
No one says that the execs don't deserve to be paid more, but if a company is profiting in the billions then they could afford to pay their employees more than $18K/year. Especially when those employees do so much for the company.
Closed AccountJun 22, 2011
He wasn't turning a blind eye...Just pointing out the hypocrisy from Digg's resident joke of a sub human being, novenator.
barackalypseJun 22, 2011
Where do you people come up with this? Bush is richer than Soros? Not even close, George Soros is the 35th richest man alive. I checked the 34 ahead of him, no Bushes are on that list.
http://www.forbes.com/lists/2010/10/billionaires-2010_George-Soros_L9II.html
ajajadudeJun 22, 2011
Back in '03 Kerry reported $395,000 in taxable income. McCain took in $420,000 in '07. The CEO of Wal-Mart makes $35 million a year, not including bonuses.
While I feel our elected officials don't earn their paychecks and might be overpaid, I think our CEOs are waaaaaaaaay overpaid.
jpsy422Jun 22, 2011
If it's so easy, start a multi-billion dollar company and take home $100k a year.
Overpaid means that that the value they create is lower than the expenses they create. If that were the case, the shareholders of this publicly traded company would likely adjust his pay as such. Judging by the fact that they approve bonuses over his annual salary, I'd say that they not only approve of his salary, but insist that he is worth more.Comment is buried, click here to see the rest.
ajajadudeJun 22, 2011
There's starting up a company, putting in years and years and years of tireless work, relentless stress and never having any money. Then there's being hired into a company with decades of success and already one of the largest companies in the industry.
Hell, if I DID manage to get hired as a CEO of some multi-billion corporation, I'd make bank if I failed miserably. All I'd have to do is inflate revenue by slashing payroll and I'd last at least a few months.
rcook18Jun 22, 2011
Inflating revenue by slashing payroll is one of the tricks they teach in CEO school.
odkinJun 22, 2011
The problem is in your statement "Our CEO's". While the politicians in fact are OUR elected officials, paid with OUR money, unless you are a stockholder or employee the compensation of the CEO is pretty much none of your business.
If you don't like it, don't shop there. But this White Knight :what are we going to do about it" attitude is why things are so screwed up in this country. Stop trying to "do something about" everything.
ajajadudeJun 22, 2011
I work for a company with a CEO, many people do, too.
Plus, every company is the same as far as over valuing executives. Are people who are fed up with over paying CEOs just not to go buy things anymore?
Unregistered_CowardJun 22, 2011
There is a very significant difference between Kerry, McCain, et al and the CEO of WalMart.
WalMart is a successful company. WalMart managed to get to the victims of Katrina and start distributing aid long before the US Calvary showed up. WalMart is making significant strides in reducing its environmental footprint. WalMart continues it's relentless pursuit of driving down costs.
Hows that compare to the fiddle-f**king of the government. When was the last time you saw "savings" from the government?
ajajadudeJun 22, 2011
"WalMart continues it's relentless pursuit of driving down costs."
Which would be keeping payroll as low as possible then go beyond that, strong arming vendors to make deals that benefit Wal-Mart, make sure there products are produced as cheaply as possible, etc.
Government simply cannot run like a corporation. Government is SUPPOSED to be for the people. Corporations are for the investors. I don't expect the government to be in it for profit. If it were, I'd be wondering what exactly it needs profit for. Our government should be at worst breaking even and at best adding to a slush fund for times like these.
Wal-Mart and every other corporation does the things they for the PR. Not because they have to. If Wal-Mart could get away with drowning puppies and murdering orphans and any of those things would make them money, they'd do it.
rcook18Jun 22, 2011
WalMart is in relentless pursuit of putting local businesses out of business. But I guess all you CEO wannabes don't give a rat's ass about that.Comment is buried, click here to see the rest.
whmeroeJun 22, 2011
And it is none of your business.
shinigami052Jun 22, 2011
Replace the name of any big corporation with Walmart in the article and it's still true. It's a problem with capitalism not Walmart itself.
charlotte_webJun 22, 2011
Why is it a problem that with greater responsibility comes greater compensation?
rcook18Jun 22, 2011
Boards of Directors do not tie compensation to performance. The CEO that helps his company into the toilet gets paid the same as if company profits rise. When he has made all the poor choices that any person ever gets to make, they leave with a generous package.
immunofortJun 22, 2011
Compensation is tied to performance. CEO's are generally give Stock options, that is the current price of the stock might be $10, and the CEO is offered a stock option to purchase at $12. If a CEO does extremely well then the company's stock price might increase to $15 and if the CEO exercises their stock option, then thats a $3 profit per stock. Steve Jobs is paid $1 Salary, yet he probably makes hundreds of millions of dollars a year through stock options.
novenatorJun 22, 2011Submitter
CEO’s Who Lay Off Workers Get Paid More
http://www.consumerwarningnetwork.com/2010/09/01/ceos-who-lay-off-workers-get-paid-more/
Slashing jobs, pay, or benefits should not be rewarded, and should never be considered doing "extremely well"
quaestor44Jun 22, 2011
How is that a "problem" with capitalism?
shinigami052Jun 22, 2011
If you don't think the pay difference between high level execs and the average employee is a problem well then idk what to say.
analogassassinJun 22, 2011
If an average employee f**ks up on the job, it doesn't impact a whole lot of people.
If the CEO f**ks up, lots of people can lose their jobs. It's a big responsibility and with that, comes big compensation.
charlotte_webJun 22, 2011
You have yet to defend your position as to why a highly educated executive managing billions in profits and hundreds of thousands of employees should be making a salary in the range of an employee at a local store with a high school education.
shinigami052Jun 22, 2011
Because as we've seen from the Wall Street collapse, the car industry and bank bail outs being in a position of power in a company doesn't necessarily mean you have to take responsibility for f**king up either. How many CEOs lost their jobs at the big trading firms? How many factory workers and car dealership owners lost their jobs when the CEOs forced the car industry down the crapper? Now you tell me, does being a powerful CEO mean you have more responsibility? Does it mean you get fired if you f**k up? Clearly it doesn't; now you see where the problem occurs.
charlotte_webJun 22, 2011
People on the low end of the wage scale don't also take advantage of the system wherever they can? That's just part of human nature.
BTW, a lot of those Wall Street fat cats in the economic meltdown lost their jobs. Some even went to jail.
coffeeroxJun 22, 2011
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novenatorJun 22, 2011Submitter
Yet these same douchebags will say a school teacher is being greedy with a $55k annual salary!
Closed AccountJun 22, 2011
So? Same is true of pretty much any major company. The reason is because the average retail employee is doing work that could LITERALLY (and I don't use that term incorrectly) couldn't be done by a trained monkey..Comment is buried, click here to see the rest.
thalenJun 22, 2011
Take any one of those people and explain to them that they can make as much as their CEO. It's easy, all they have to do is create the next Walmart.
whmeroeJun 22, 2011
Correct and they will say forget that and go back to scanning items.
jimbodeenieJun 21, 2011
Give me a break! See the last name on the people being discussed? Enough said.... Walton. Sam Walton was once the wealthiest person alive. He built an empire providing goods to working Americans and now his family have inherited his wealth and business.
The article is arguing that the founding family of WalMart are too wealthy considering considering what their father / grandfather built. I bet alternet would never make such accusations against Steve Jobs and his family.Comment is buried, click here to see the rest.
digital0n3Jun 22, 2011
How about you pat him on the back for making a place that people can get a job. Its not supposed to be a 50k a year job, its in the same category as mcdonalds, they are stepping stones, to get you back on track, not meant for you to make a career of, so get off their backs. Let them create more jobs, you idiot, do you not know how this works by now, is it that hard of a concept? He is responsible for more than stocking shelves, he made all those jobs.Comment is buried, click here to see the rest.
FallteaJun 22, 2011
When that job is the only one left because these valuable companies are shipping all the jobs that used to be better paying overseas. Ya I think people get stuck with this option.
whmeroeJun 22, 2011
If you think you are stuck then that is your problem right there. You give up.
FallteaJun 22, 2011
I agree that certainly is a problem in some cases but it can't be denied jobs have been shipped overseas. Places like Walmart are bad(and good for consumer) because it's pursuit of lower prices have forced most of the companies that produce these goods to put their manufacturing jobs overseas. You can say it's because of the wage of the workers in the united states but it seems like a vicious cycle. You move jobs overseas to make the goods for cheaper... the people who used to make the goods loose their jobs and start from scratch, making minimum wage...they have to buy cheaper to manage to stay alive(what better place then Walmart) ... even then the prices are high and the general consensus is to lower the prices ... even more jobs get shipped overseas and the prices get cheaper ... more people loose their jobs.... Now we end up being a consumer of goods from from China ... the product may be the same but you have increasingly less money to spend on it even if it's cheaper.
I know this doesn't apply to all cases but hell even Walmart itself tried using automated checkouts and speed lanes(might still I dunno they were removed when I last went there) and that's removing another job from the system .....and they are making a huge profit .... you may think it is a sh*t job but someone that may have more problems then you relies heavily on it.
I think it should be if you make a profit like that you should at least ensure that the smallest employee you have can make enough to be above the poverty line.
I have had a good job for over 12 years now I am satisfied with where I am ... I feel bad for others but I guess that's a bad thing.
Wow didn't expect to type that much hah.
whmeroeJun 22, 2011
There is nothing wrong with feeling bad for others. It is a good emotion to have, but at some point you have to understand we need to make our own way in this world.Comment is buried, click here to see the rest.
FallteaJun 22, 2011
Why can't we all make it in this world? Unless there is a mass extinction we are just going to multiply and and become closer and closer to each-other ... the rich will be rich and the poor will be poor ... but it will be more obvious because of the scale of it. We should just as well try to take care of each other and better educate future generations ... the one thing we have no control over is this planet and the dangers that can happen ... mind you i guess that could be the extinction.
I dunno I just want the betterment of the general population and the way we are going just seems crazy because the poor (however they got there) doesn't have the money for their kids education ... housing ... food. In no way can they have the same opportunities as people who make more when they are always worrying about living. Mind you I know a lot of people that suck the government teet when they shouldn't.
My ramblings do feel useless though I seem to be an oddity but I appreciate you responding friendly and I do understand your position. Maybe I liked star trek to much heh.
sexyloserJun 22, 2011
Long-term prosperity is ensured by funding education, infrastructure, and research. Not by cutting taxes for corporations and the rich which then outsource jobs and put that money in overseas banks.
tomasiiJun 22, 2011
Not working so far with this administration. I know, It's Bush's fault. yada, yada, yada.
leamancJun 22, 2011
Yeah, OK. Stats like this are sure to rile up the checkers of Wal-Mart all around the USA, but really if you are the CEO of company that had a 25% profit margin on gross revenues of just under a half-billion in 2010, you would be a VERY well-compensated CEO. It doesn't matter what corporation it is. Do any of those checkers making $18K/year have the skill or talent to be a CEO of that level? Probably not.
Wal-Mart is an easy target to pick on because they represent capitalism at its most extreme.Comment is buried, click here to see the rest.
FallteaJun 22, 2011
I don't think anyone ... anywhere should make that much ... if it has such a high profit margin clearly it can pay its workers more.... might even keep employee theft down because they can afford to live.
whmeroeJun 22, 2011
Glad you don't make decisions. It is NONE of your business what they make. Get out of it.
ravagedsoulJun 22, 2011
Just to correct, Wal-Mart revenue is almost half a *trillion* dollars ($426 billion).
Net profit is 3.87%. Gross profit is around 25%, but gross profit is not really significant in this context.
samcatluJun 22, 2011
Good for him/her! Success should be applauded (when achieved legally) and not demonized as Democrats insist.
reverantJul 6, 2011
You're all just jealous
everjeffJun 26, 2011
I'm supposed to be surprised that the Chief Executive Officer of one of the world's largest multinational corporations makes way more than the guy who's education includes finishing grade 10? Right.
crystalagehaJun 23, 2011
I can't believe some of the comments here..... People who are, in this situation, against the Wal-Mart CEO's salary are NOT against it simply because he makes so much more than a lowly cashier. They are against it because he simply makes way too damn much money for ANYBODY, and because only a few groups of people hold any significant income in the U.S. Meanwhile, there are countless hard-working people (probably, honestly, many who work much harder than the average CEO) in the country who are struggling to even have money for food or shelter. That's sad, and very f**ked up. There needs to be SOME kind of balance implemented, don't you think?
We're not saying that a CEO should make the same as a retail worker, or that a janitor should take home the salary of a surgeon. But nobody - not a business owner, a lawyer, an actor, NOBODY - should make how many multiple times more than many of the richest in the country (especially when only a small percentage of the country holds those riches, while the rest is lucky to be middle-class).
FTA:
"A new report by the Washington Post on “Breakaway Wealth” contains new research by economists Jon Bakija, Adam Cole and Bradley T. Heim, who analyzed tax returns from the top 0.1 percent of earners in the U.S. That top percentile takes home more than 20 percent of the personal income in the country, and their average income is $5.4 million. The average income of the bottom 90 percent, according to the Post, is just $31,244."
...Wow.
trashfree2000Jun 22, 2011
One simple bad decision of an empoyee could cost the company $400 for breaking a TV. One simple bad decision by the CEO could easily cost the company a billion dollars in in one quarter alone and make thousands of employees loose there jobs.
nightofwadeJun 22, 2011
WOW!