$70,000 salary CEO is doing just fine

[Kooky]

It's a simple manner of categorization, really. To a pro-marketeer, any policy that's good or beneficial is naturally emerging from market capitalism, whereas any policy that's bad has to be socialist interference in the naturally beneficial state of the market economy.

This attitude towards reality is not too dissimilar to how Christian fundamentalists see the Devil in everything that they consider bad about the world, whereas everything that's good has to come from their Almighty God.

The common alliance between pro-corporate and pro-market positions on one hand, and religious fundamentalist positions on the other, can at least in part be explained by these commonalities - essentially, both positions presume an omniscient force that rewards the virtuous and punishes the wicked, whose actions are considered intrinsically benevolent to human society, and thus any interference in the Plan to be considered evil and wicked in itself.

 

[sayak83]

In spite of being called a socialist and the predictions that the CEO was headed to ruin by lowering his salary to $70k and raising his employees salary to $70k, he's doing just fine: Isn't it amazing what can happen when the boss is not greedy and treats his employees very well:

Since our $70k min wage was announced 6 years ago today:
*Our revenue tripled
*Head count grew 70%
*Customer base doubled
*Babies had by staff grew 10x
*70% of employees paid down debt
*Homes bought by employees grew 10x
*401(k) contributions grew 155%
*Turnover dropped in half
...
Treating employees well saves money in the long run.

For example, our small biz with a $70k min wage received 3,663 job applications this year – 280 per opening.

We paid $0 advertising and got great candidates.

I keep seeing stories of companies struggling to hire. Wonder why.

— Dan Price (@DanPriceSeattle) April 12, 2021

Does everybody in the company get 70k? So promotions do not lead to pay raise? Do bonuses for good performance exist? The link is not clear.

 

[Revoltingest]

And by "fairness and equality", we are of course talking about CEOs being able to raise their wage to any number they like.

You believe the all have that much autonomy?
The board has no say?

 

[Twilight Hue]

There needs to be a counterweight to the unbounded greed of some whether it be a steeply progressive tax rate or something else.

I would go for a wage cap.

If there is a minimum wage, then there should be a maximum wage.

Nobody's labor on the entire earth is worth multi millions/billions on par with or even exceeding state lottery payouts.

 

[Twilight Hue]

Does everybody in the company get 70k? So promotions do not lead to pay raise? Do bonuses for good performance exist? The link is not clear.

I would love to see worker pay tethered with CEO pay. If the ceo takes in more pay, then the workers themselves receives an apportioned percent as well.

 

[Wu Wei]

Well, there are different costs of living & dollar values at
work here. But $70k/year where I live would be pretty meager.
And in a place like NYC or SF...dismal indeed.

Note:
70K AUD is about 54K USD
70K USD is about 90K AUD

 

[Revoltingest]

Note:
70K AUD is about 54K USD
70K USD is about 90K AUD

Australiastan....what a 3rd world country.

 

[Wu Wei]

I've been feeling nostalgic lately over the horrors of college like and this conversation about CEO's outrageous salaries reminded me of something an Economic professor said, but he was referencing outrageous athlete's salaries, although it would apply here as well.

"Yes, we all think they are over paid, and we all think they should take lesser salaries to support the team (in this case business and its employees) because we feel no one is worth that much a year...…but think about it....would you give the money away if you were offered that large a salary, would you tell them no, please, pay me less?"

 

[Wu Wei]

Australiastan....what a 3rd world country.

Hey, 6 foot rats that hop and everything there wanting to kill all humans says it all

 

[Revoltingest]

Hey, 6 foot rats that hop and everything there wanting to kill all humans says it all

And weather...either devastating drought or inundating flood.
They have no in between. I don't think this country even exists.
It's a fiction.

 

[Wu Wei]

And weather...either devastating drought or inundating flood.
They have no in between. I don't think this country even exists.
It's a fiction.

The British Empire did not make it a penal colony for nothing...

Sorry, now back to the regularly scheduled thread
$70,000 salary CEO is doing just fine

 

[Revoltingest]

The British Empire did not make it a penal colony for nothing...

Sorry, now back to the regularly scheduled thread
$70,000 salary CEO is doing just fine

I'll guarantee that our CEO has already stashed
away great wealth, & has income therefrom.
So he can still live the life of Riley on that pittance.

 

[Twilight Hue]

I'll guarantee that our CEO has already stashed
away great wealth, & has income therefrom.
So he can still live the life of Riley on that pittance.

Probably. Still it shows that at least there is a CEO willing to share the wealth.

Probably the last one on the planet.

 

[sun rise]

I'll guarantee that our CEO has already stashed
away great wealth, & has income therefrom.
So he can still live the life of Riley on that pittance.

If you can prove it, I'll bow to your superior knowledge. If it's a random claim by an anonymous internet person then I'll give it the credence it deserves.

 

[sun rise]

Does everybody in the company get 70k? So promotions do not lead to pay raise? Do bonuses for good performance exist? The link is not clear.

There are links that say the 70k is the minimum CEO who gave employees $70K minimum wage says revenue tripled 6 years later

 

[TransmutingSoul]

I would go for a wage cap.

If there is a minimum wage, then there should be a maximum wage.

Nobody's labor on the entire earth is worth multi millions/billions on par with or even exceeding state lottery payouts.

Do away with lotteries as well.

Actually all Gambling.

Regards Tony

 

[Revoltingest]

If you can prove it, I'll bow to your superior knowledge. If it's a random claim by an anonymous internet person then I'll give it the credence it deserves.

Proof? Regarding casual speculation?
Criminy, someone got up on the wrong side of his doggie bed this morn.
I invoke the argument of obviousness.
Consider that he made more for many years. You don't think he'd have
investment income & a loan free home? The guy is generous, but don't
assume that he's crazy too.

 

[ChristineM]

Do away with lotteries as well.

Actually all Gambling.

Regards Tony

What, no crossing the road???

No trying new restaurants???

They to are gamble's

 

[Revoltingest]

What, no crossing the road???

No trying new restaurants???

They to are gamble's

Some people would have us all living in padded rooms
guarded by government to keep us safe. What fun, eh.
They'd certainly ban this foolishness....

 

[TransmutingSoul]

What, no crossing the road???

No trying new restaurants???

They to are gamble's

Good morning Christine, as to why you bothered to reply in that manner, I have not idea.

Again, I offer that humanity needs to rid itself of all Gambling.

There are many that do not have the basic means, but many choose to give it away to the darker side of our animal instincts.

Regards Tony