Jason's Blog

Corporate greed (continued)

by on May.25, 2005, under General

I saw this comic today, and touches an aspect that I didn’t cover the other day. That so often when the big wigs get their raises, or when companies are sooo worried about how they look in the stock market, and things like this, that it’s the employees that hurt and suffer.


(from comics.com – good comics web site)

A “common” practice to increase your stock price through “cost savings” is to fire people. This doesn’t seem right in any way shape or form. I’m old fashioned – I believe in loyalty to your company, and your company should be loyal to you as well. So much lately you hear about thousands of people being laid off at a company, their stock price goes up, and a few months later, the executives salaries increase. How is that right??? Even more – look at that salary. If you took off 10 million dollars off of a salary, that’s 250 people making 40,000 a year. Granted not quite that due to benefits and other concerns, but it’s interesting to think about. I wish these people realized that there are more important things than making a quota, getting your stock price raised, or getting yourself an extra million or two above the millions you’ve already got.


3 Comments for this entry

  • Stephen

    You’re starting to sound like Carl Marx, or maybe even Friedrich Engels – Just kidding of course.

    I agree with you – there are quite a few fat guys making way too much, and lots of people mowing lawns and working a burger king. Most of the fat guys don’t care, and could fix a few things if they would redistribute a bit.

  • Stephen

    A great article on how the CEOs at Californias top 100 publicly held companies had earned a collective $1.1 billion in 2004—a 20 percent increase from the year before. Contrast that with the 2.9 percent bump for the average worker. Insane. Here’s the article –

    http://www.latimes.com/business/la-fi-execpay31may31,1,7785006.story?coll=la-headlines-business

  • Jason McIntosh

    Ouch.  Wish I’d gotten a 20% raise this year, UGH.  And I dont’ think Carl Mark had it right.  He had some interesting ideas, but I’d say that about a lot of people.  Not necessarily the right ideas, but interesting.  I guess for me, what you make should be an indicator of what you do, but without going excessive on such an issue.

    For example, I have no problems with brain surgeons who make a million a year.  They’ve DEFINITELY earned such pay – that kind of job is no easy bit of work, particularly for the true specialists.  But, tell me how it is that a person who runs a company makes 30 million a year.  They’re not saving lives.  They’re not even producing anything per se.  I can understand having some compensation, but the levels I’ve seen lately just are VERY extreme in my point of view.  On the other hand, I don’t know of any way to fix such a thing… other than to maybe change the way the whole stock market situation works.  Which, I’m not sure is a good thing either….

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