Because they can make more than $20 million by laying of thousands of workers, selling of marginally profitable sections, or even unprofitable sections (never mind why they are unprofitable or that only a small investment could turn the section around). I get into more of that in the post I was writing (above) when you posted this.thegreekdog wrote:PLAYER57832 wrote:Woodruff wrote:BigBallinStalin wrote:Why do you think CEOs are paid so much money?
Given the many recent examples I've seen, I'm pretty sure it's because Boards of Directors are stupid fucks.
All of the above, and stockholders who care for nothing but making a short term dollar.
OR, to put it another way, a system that encourages absentee owners to take whatever profits they can, however they can and the boot out, leaving the workers and others to take the brunt.
If stockholders wanted to make a "short term dollar," why are they paying $20 million for a CEO?
However, let me ask you something else, related to your earlier comment that no one has a "right" to a specific wage... even just a wage that ensures they can live without government subsidies.
Not only does this mean you are able to hire workers who actually cost we taxpayers money, but what kind of incentive does such low wages give to people. Don't you think that might have something to do with the rise of what you call "lazy people".
In fact, it does. Talk to any recent graduate, and you find that they have a much poorer attitude about the future. As a result, they are far less willing to sacrafice "for the company", or to accept the dictates many old-time bosses take for granted. Just as an example, not ONE of the companies here locally offers sick leave. What they call sick pay is something like $100 a week... for someone who was making $18 an hour, and that only with some serious doctor verification, being let off for more than 2 weeks, etc. Also, you can be asked to work a second shift (in a non-union plant) with no choice. Have children at home? too bad.. good reason not to hire you! Too tired to work a double? Again.. good reason to let you go.
and note, I am talking about good jobs, there!
Try finding out what its like at Dollar General, Sheetz, etc.....