The third buisiness day

[kronk]

Well, It's Wednesday, which means that my boss's boss's boss's boss's boss's boss's boss has already made more then I will this year!

Always kinda a kick to the nuts... We worked out his wage, in 2009, and not mentioning any company names or anything, he made ~$198,000/Week :(

He did work for it though!

[hal53]

Well, It's Wednesday, which means that my boss's boss's boss's boss's boss's boss's boss has already made more then I will this year!

Always kinda a kick to the nuts... We worked out his wage, in 2009, and not mentioning any company names or anything, he made ~$198,000/Week :(

He did work for it though!
...and the point is???....

[Taco]

...and the point is???....

Need a picture??

[hal53]

Need a picture??
my apologies....I guess I do......

[Taco]

http://www.whereisoccupywallstreet.com/fbook_files/occupy-wall-street-signs.jpg

[hal53]

http://www.whereisoccupywallstreet.com/fbook_files/occupy-wall-street-signs.jpg
okay....and??????

[FCLightning]

Well, It's Wednesday, which means that my boss's boss's boss's boss's boss's boss's boss has already made more then I will this year!

And if he didn't have a job you would make sweet diddly squat for the year.

[Taco]

Pictures don't help huh? Too bad, I tried.

[deanmc]

...and the point is???....

I think he is trying to say he wishes he had been more motivated and educated so he could be the bosses bosses bosses...........................boss.:scared0018:

[Ken07AOVette]

where does the 10 and a quarter million for his wages come from?

[HunterDave]

I used to work for an oilfield consultant. Over a couple of beers he told me what he made. I figured it out and he had me paid for the whole day before he got out of bed and his feet hit the floor. :lol:

The beer that I bought with the money that I made didn't taste any different. :)

[hillbillyreefer]

Well, It's Wednesday, which means that my boss's boss's boss's boss's boss's boss's boss has already made more then I will this year!

Always kinda a kick to the nuts... We worked out his wage, in 2009, and not mentioning any company names or anything, he made ~$198,000/Week :(

He did work for it though!

Doubt he has "made" bugger all, the OWS crowd has confiscated it, by utilizing Canada's greatest criminal "The Taxman".

[rwm1273]

I don't begrudge people from earning a good living, but I do wonder how do some of these people get into these positions to earn that much? Is it luck? I know they have to be smarter than the average to move to that level in the first place, but I know lots of very smart people who run major companies, yet don't earn outrageous salaries.

Is there a limit to which a corporation should limit the salaries of their executives? We just had one major recession caused by bad investments made by some of these highly paid people, and who were the first ones to get a cut of the bailout pie? The same people who caused it. I thought bonuses where for times the company made money, not when they had record losses, and even folded.

I may think a bit differently than others, but I think that there should be limits on the top salaries of a company, and tied to a percentage of the lowest salary of the company. I believe that this is similar to how Germany controls their companies. Top CEO can't make more than xxx% of the lowest paid employee. After all some of these executives are merely names on a letter head. Many spend more time on a golf course in Barbados than they do earning money for the company.

Where I truly find it disgusting is in the Public sector. I remember a number of years ago when this new CEO of the WCB took control, first thing she did was give her a large salary increase. Then explained she was worth it because she had a large budget to manage. I know that cause an uproar.

[BGSH]

who cares, they work hard for it and deserve the money

[The Elkster]

Many people deserve their paycheque but they certainly all don't earn it! To think that would be to assume that everyone is promoted based on merit and everyone paid by performance. Hahaha if you believe that I have a bridge I'm selling.

I absolutely totally respect a self made man and think he deserves anything and everything he makes from and with his OWN money. Absolutely no problem there as long as laws are followed.

What I have a problem are the guys who run PUBLIC companies with public money and are compensated LARGE no matter how they perform. The biggest problem is public company exec's. These days that'd include banks most oil companies and most large companies of all stripes. They have little to no accountability and have no meaningful skin in the game. They pilfer enough off the company line to ensure that no matter what happens to the company they will not feel the pain while the little guy takes the shaft. Even if they are turfed for poor performance they get a golden handshake. Total BS. I can't blame the guys for riding the system whilst its there but to say the system needs changing is an understatement. Time to eliminate public companies and make everything 100% private enterprise with private enterprise risk and full accountability.

[Redfrog]

So the average working guy earns his money but the exec doesn't . OK

All the problems with the economy is the result of big corps and has nothing to do with the average guy buying stuff on credit, and big houses, when he KNOWS he can't make the payments. OK

[rwm1273]

So the average working guy earns his money but the exec doesn't . OK

All the problems with the economy is the result of big corps and has nothing to do with the average guy buying stuff on credit, and big houses, when he KNOWS he can't make the payments. OK

A large part of the problem was with big executives making policies to extend credit to the guys who they knew could not make the payments. Just offer them lots of money, then sell that bad credit to the next guy who will do the same, all the while making your millions. Eventually the bottom fell out, and these executives who either made the problem, or closed a blind eye to the problem still get their golden handshake and millions in the bank.

That is the problem I see with many of these high priced executives. They did nothing to stop the oncoming collapse, because it would not affect them.

[coreya3212]

Elkster, your post reads like you think that public companies owe the Public something? I don't understand your comment about no accountability? Accountable to whom?? Make all companies private, What does that even mean? No stock markets? No investments?

When I invest in a public company, I want the smartest highest paid guy in the business world running that company, so I make the most money on my investment. That guy is accountable to me, the shareholder, and my partners, and the board of directors.

[HunterDave]

Here's an idea, let's occupy Wall Street to demonstrate against this grave injustice! :scared0018:

[rugatika]

anyone that makes a lot of money...kudos and congratulations. I wonder what would happen to our economy if the so called 99%'ers shamed them into hiding their wealth? Living in average homes, driving average cars and generally holding onto their money instead of spending it in the local economy.

Anyone that complains about those that make more than they do...see my sig line with Maggie T. She explains it pretty good.


I'm not part of the 1%, nor am I part of the "99%". Someone's math sucks. Maybe that's why they're part of the "99%"


A lot of those people at the top, got there by making friends with the right people, working late, making a good impression, making all the right moves, being nice to bosses they might not be able to stand, etc etc. Generally, being smart, not ****ing off the wrong people and working hard. Frankly, you couldn't pay me enough to do what they do.

[BGSH]

The sky is the limit, remember that, everyone has the ability to make money in Canada.

[chasingtail]

Half of them worked hard, invented something, took the risk ect. The other half were born into it, go to the same synagogue, church, school ect. Half the guys on Wallstreet are only there because of who their family is. What I hate is when you see these rich buggers go through bankruptcy and they still have 100 x more then I have. My wife watches all those rich housewives shows, makes me sick.
The 1% confiscates the money from the middle class through taxes and inflation, give some to the recipient class in social programs so they vote for the government that helps the 1%. If that makes any sense.

[rugatika]

Half of them worked hard, invented something, took the risk ect. The other half were born into it, go to the same synagogue, church, school ect. Half the guys on Wallstreet are only there because of who their father was or their religion. What I hate is when you see these rich buggers go through bankruptcy and they still have 100 x more then I have. My wife watches all those rich housewives shows, makes me sick.
The 1% confiscates the money from the middle class through taxes and inflation, give some to the recipient class in social programs so they vote for the government that helps the 1%. If that makes any sense.

Ummm, if you look at the numbers, it's generally the lower income levels that do the confiscating from the middle and upper levels. Unless of course you're a gov't bureaucrat or something, then you're an upper level income earner living off of middle and upper income earners.

The rich more than pay their way in this country. Both in jobs they provide, taxes they pay, taxes their companies pay, charitable givings etc etc etc etc.

[rwm1273]

When I invest in a public company, I want the smartest highest paid guy in the business world running that company, so I make the most money on my investment. That guy is accountable to me, the shareholder, and my partners, and the board of directors.

So that seemed to work well with Enron, Tyco, Parmalat, Bre-X, Hollinger, WorldCom, FreddieMac/FannieMae, and countless others. All run by some very smart people who where smart enough to steal billions from the organizations they were running. How much of say did you have as a shareholder in these scandals? I bet none.

[chasingtail]

Ummm, if you look at the numbers, it's generally the lower income levels that do the confiscating from the middle and upper levels. Unless of course you're a gov't bureaucrat or something, then you're an upper level income earner living off of middle and upper income earners.

The rich more than pay their way in this country. Both in jobs they provide, taxes they pay, taxes their companies pay, charitable givings etc etc etc etc.

I know the rich pay their share in taxes, way more then I do but the really rich the 0.1% steal it. Your getting screwed to.
http://www.youtube.com/watch?v=hx16a72j__8&feature=player_embedded
And when their crooked little scheme goes wrong they get bailed out.

Henry Ford once said, “It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

Thomas Jefferson
"I believe that banking institutions are more dangerous to our liberties than standing armies.
Already they have raised up a monied aristocracy that has set the government at defiance. The
issuing power (of money) should be taken away from the banks and restored to the people to
whom it properly belongs." — Thomas Jefferson, U.S. President.

"Whoever controls the volume of money in any country is absolute master of all industry and
commerce." — James A. Garfield, President of the United States

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

[coreya3212]

So that seemed to work well with Enron, Tyco, Parmalat, Bre-X, Hollinger, WorldCom, FreddieMac/FannieMae, and countless others. All run by some very smart people who where smart enough to steal billions from the organizations they were running. How much of say did you have as a shareholder in these scandals? I bet none.

Seems to work well for Apple, Verizon , UPS, and countless others, all run by very smart people that were smart enough to make billions for there investors, and for themselves.....

[kronk]

The sky is the limit, remember that, everyone has the ability to make money in Canada.

Exactly, the guy's a born and bred Albertan, who worked his way to the top, not just some foreigner who comes from money, and could buy more.

[kronk]

Bar Stool Economics Explains "Occupy Wall Street"...

Suppose that every day, ten men go out for beer and the bill for all ten
comes to $100 and if they paid their bill the way we pay our taxes, it would
go something like this:

? The first four men (the poorest) would pay nothing.
? The fifth would pay $1.
? The sixth would pay $3.
? The seventh would pay $7.
? The eighth would pay $12.
? The ninth would pay $18.
? The tenth man (the richest) would pay $59.)

So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the
arrangement, until one day, the owner threw them a curve. "Since you are all
such good customers," he said, "I'm going to reduce the cost of your daily
beer by $20." So drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the
first four men were unaffected. They would still drink for free...but what
about the other six men - the paying customers? How could they divide the
$20 windfall so that everyone would get his 'fair share?' They realized that
$20 divided by six is $3.33. But if they subtracted that from everybody's
share, then the fifth man and the sixth man would each end up being paid to
drink his beer.

So, the bar owner suggested that it would be fair to reduce each man's bill
by roughly the same amount, and he proceeded to work out the amounts each
should pay. And so:

? The fifth man, like the first four, now paid nothing (100% savings).
? The sixth now paid $2 instead of $3 (33%savings).
? The seventh now paid $5 instead of $7 (28%savings).
? The eighth now paid $9 instead of $12 (25% savings).
? The ninth now paid $14 instead of $18 (22% savings).
? The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before ... and the first four continued
to drink for free. But once outside the restaurant, the men began to compare
their savings.

"I only got a dollar out of the $20,"declared the sixth man. He pointed to
the tenth man," but he got $10!"
"Yeah, that's right," exclaimed the fifth man who was now paying nothing,
along with the first four. "I only saved a dollar, too. It's unfair that he
got ten times more than I!"

"That's true!!" shouted the seventh man. "Why should he get $10 back when I
got only two? The wealthy get all the breaks!"

"Wait a minute," yelled the first five men in unison. "We didn't get
anything at all. The system exploits the poor!"

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down
and had beers without him. But when it came time to pay the bill, they
discovered something important. They didn't have enough money between all of
them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax
system works. The people who pay the highest taxes get the most benefit from
a tax reduction. Tax them too much, attack them for being wealthy, and they
just may not show up anymore. In fact, they might start drinking overseas
where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia

For those who understand, no explanation is needed.. For those who do not
understand, no explanation is possible.

[Okotokian]

where does the 10 and a quarter million for his wages come from?

From shareholders, who often have no idea when they are being hosed. CEO's making out like bandits while share prices plummet. Little accountability.

[dale7637]

Posts like this irritate me. As a self made man, I hate seeing someone talk down the guy making the cash at the top of the pile. He earned it, or he wouldn't be there. We took the risk, we earn the reward that comes with that risk. Most people don't see the stress and grief that can come with making your own way.
I have laid in bed at night worrying about debt and loans. I have taken my own money and put it back into the company when things went sideways. I have gone months without a salary so that my employees can get paid. I have spent countless nights at the shop balancing books because I couldn't afford to hire a secretary or bookkeeper.

Now you tell me why we aren't entitled to the reward that comes with the position.

[The Elkster]

Elkster, your post reads like you think that public companies owe the Public something? I don't understand your comment about no accountability? Accountable to whom?? Make all companies private, What does that even mean? No stock markets? No investments?

When I invest in a public company, I want the smartest highest paid guy in the business world running that company, so I make the most money on my investment. That guy is accountable to me, the shareholder, and my partners, and the board of directors.

What you want is the Smartest....what you often get is the most ambiscious, ruthless or well connected. To say they are all there based on merit is laughable. I mean I guess Ruthless works...until he goes after YOUR money.

No, what I think is that public companies owe the average joe investor something. It is THEIR money that they are handling and generally little if any of their own. What the big guys get is discounted stock options that have little risk even if the company doesn't perform well whilst also getting a guaranteed sweet base salary not dependant on performance. As it is now a small time shareholder has little control over what goes on at the top and more importantly isn't privy to most of the shanagans going on at the top. Select few money managers and hedge funds are given info but the rest are left to guess. The "market" is a heavily tilted table at best and now that things aren't so tickety boo people are looking harder and seeing the reality.

Look at any company thats been run into the ground or nearly there by long odd bets and gambles that a CEO etc would never take on with his OWN money. The public company hits the skids, meanwhile these great managers of yours who's GREAT decisions and GAMBLES put it there walk away with millions, the prime creditors take what is left and the average guy holding his retirement money with the greatly managed company is left holding the bag. Yeah thats a great system. I can see where you are coming from.

Yup get rid of the stock market casino. If you want to invest for retirement then buy into a private company or start your own. All the market and the money management business does is promote totally unsustainable growth expectations which leads to the boom and bust cycles we always see. The market is never happy with a solid profit. You have to GROW perpetually (yeah like that is possible). They continually push companies to over build/supply and the system gets oversaturated and falls. At that point the top dogs keep their money offshore whilst the average invester takes the bath then they take the offshore money and buy back at a pittance...works for them but people are starting to catch on to the fact they are being pilfered.

[Redfrog]

A large part of the problem was with big executives making policies to extend credit to the guys who they knew could not make the payments. Just offer them lots of money, then sell that bad credit to the next guy who will do the same, all the while making your millions. Eventually the bottom fell out, and these executives who either made the problem, or closed a blind eye to the problem still get their golden handshake and millions in the bank.

That is the problem I see with many of these high priced executives. They did nothing to stop the oncoming collapse, because it would not affect them.

They may have extended the credit, but someone accepted the credit. or are the mindless drones. If you make 40,000 a year it's a pretty safe bet you can't afford a $400,000 home along with all the regular expenses. I know how much I can pay each month, I don't need the credit union to tell me.

All you guys whining about the profits and the people running the companies are stuffing your money into your mattress, right? You sure wouldn't be handing it over to someone you thought was crook or taking advantage of you right?

Bailouts? Did any one take as much time to write their MP as they took to post here?

Constant gripes just make the same old whine.:sign0161:

[Okotokian]

Posts like this irritate me. As a self made man, I hate seeing someone talk down the guy making the cash at the top of the pile. He earned it, or he wouldn't be there. We took the risk, we earn the reward that comes with that risk. Most people don't see the stress and grief that can come with making your own way.
I have laid in bed at night worrying about debt and loans. I have taken my own money and put it back into the company when things went sideways. I have gone months without a salary so that my employees can get paid. I have spent countless nights at the shop balancing books because I couldn't afford to hire a secretary or bookkeeper.
.

good post. However, we aren't talking about business owners. We are talking about paid gun CEO's who risked nothing. I have no problem with any owner who makes millions or billions. They make it because the money is actually coming in the door, not because the Compensation Committee of the Board (other CEO's) says that is what they should be given.

[The Elkster]

So the top managers are contributing 1000's of times more value into the community than our tradesmen, farmers and rig workers. Really? I'd rather have the food put on the table by hard working farmers and physical oil delivered by rig workers and pipeliners over the house of card financial system set up by the harvard grads. Why aren't farmers making multi-millions if the system is go great as to reward hard work and personal sacrifice? work long hours and risk all their own money to bring a precious commodity to our tables! No, the tables are heavily slanted to the few.

If the public company managers are compensated for great work only (in managing investor money) in accordance with company performance then the companies should be flourishing and the investors making just as much gains on a percentage basis as the top dogs. It is the investors money that allows the managers to do anything. The numbers clearly show that isn't the case. The divide between the investors and the top guys is not proportional in the least. That is clear evidence of what is going on. Argue symantics all you want.

[The Elkster]

good post. However, we aren't talking about business owners. We are talking about paid gun CEO's who risked nothing. I have no problem with any owner who makes millions or billions. They make it because the money is actually coming in the door, not because the Compensation Committee of the Board (other CEO's) says that is what they should be given.

Yup private business ownership is a whole other ball of wax. If a private business owner makes millions in profits with their own money at risk then more power to them. They deserve it! There is a natural accountability to private enterprise. If they don't work hard and smart and/or make bad decisions then they lose their own money.