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REPORT: CEOs At Top 50 Companies That Laid Off Most Workers Raked In Millions

Discussion in 'Political Discussion' started by Holy Diver, Sep 1, 2010.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    “CEOs of the 50 firms that have laid off the most workers since the onset of the economic crisis took home nearly $12 million on average in 2009.” Those CEOs’ combined compensation totaled $598 million, while at the same time, their companies eliminated 531,363 jobs despite reporting a 44 percent average profit increase for 2009."

    Institute for Policy Studies: Executive Excess 2010: CEO Pay and the Great Recession



    All of you corporate SHILLS who keep using the following talking point


    "Ive never heard of a poor person hiring someone"


    GO SCREW!


    the last 8 years have proven beyond a doubt that when given the chance to lay off americans and create further personal wealth, the wealthy CEO will infact do that.

    Trickle down economics is Bu11$#!T!!!
    Supply Side economics is Bu11$#!T!!!
    Tax cuts for the richest 1% of americans are Bu11$#!T!!!


    do the math....look at history....you consevatives are supporting the virus that is destroying america, all the while draping yourself in the american flag attempting to reach a goal that is further out of your reach BECAUSE of your defense of such policy.

    wonderful....
     
  2. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #24 Jersey

    It's been common knowledge since the market collapse that many companies are sitting on huge caches of money ... this is not new information. Economic incentives to get them to use the money would make this a non story.

    Obama promised economic incentives but has done nothing to get these companies to spend. If these companies had incentives to invest ... which would lead to even greater CEO compensation then they would spend. doesn't make it right but at least it would help the economy more than these people making money and hiding it overseas.
     
  3. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    These COMPANIES aren't sitting on huge lumps of cash. This is compensation to a single individual. Obama has no control over compensation. That would be some other kind of 'ism'. Certainly not Capitalism...


    STOP MAKING EXCUSES FOR MILLIONAIRES.

    500 THOUSAND people were laid off, while they make 500 million in COMPENSATION.
     
  4. Real World

    Real World Moderator Staff Member

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    I'm not sure what the point is with this thread. If your point is that you hate people making millions of dollars, for running multi-billion dollar corporations, then cool. That's your right. If your point is that a person in charge of these companies, shouldn't be making millions when they lay people off, or that companies should hire, simply because they have money in their operating account, then you missed economics class when you were in school. People get laid off because companies either don't need them, are down sizing, or don't have enough demand to maintain those positions.
     
  5. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    I know you dont understand the point....you shill for this philosophy often enough.

    I'm fine with people making money, I'm not fine with people laying off workers to increase their profit, then have their taxes cut because they have enough money to pay off congress to create this viscious circle.

    Then I have to hear minions of conservative philosophy spew talking ponts on shows, and in forums like this telling me that cutting these millionaire's tax rates is the only thing that will create jobs, its BS. I thne have to hear about not wanting to fund unemployment because we have a lack of revenue, when the people you defend, and the corporations they represent dont pay taxes. Its complete trash, and a never ending wheel of hypocrisy.

    this report confirms that you are all being played by the corporate elite, and you defend profits at the expenese of the american dream to your fellow americans. The unemployment rate grows....and the profits and takehome pay get higher....our deficit will skyrocket further...



    yay
     
  6. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #24 Jersey


    they are absolutely sitting on a ton of cash. The CEO's make decisions that earn their companies the most money and they then make more money. Right now the decisions are to layoff workers and sit on the cash. Layoff workers vs spend and expand ... they would spend and expand if the conditions were right - and they are not. It's a very relevant comment to this thread. Both methods can increase earnings but the CEO chooses which one or ones earn them and the company more money.

    http://abcnews.go.com/Business/hoar...ons-stockpile-mountain-cash/story?id=10250559
     
    Last edited: Sep 1, 2010
  7. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Banks and corporations BOTH are sitting and not lending....AGREED. I'm not disputing that.


    but one thing BOTH are not doing is stopping compensation.


    Bonuses and salaries are expanding at the same time the corporations and banks are sitting on cash for some reason?
     
  8. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #24 Jersey


    We are a capitalist system ... it's not fair but their compensation is directly tied to their performance. It has been proven that the system actually is beneficial even though on the surface it seems very greedy.

    If Obama continues in the direction he has been headed where it is harder for them to hide the cash then it won't be an issue anymore. When they have to pay relevant taxes on those earnings it won't be a problem. Obama and his team are working to close those loopholes and when closed maybe our deficit will go down ... :rolleyes: ... well one can dream.
     
  9. Titus Pullo

    Titus Pullo Banned

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    It's a telling contradiction of free market conservatives that, in their mind, anyone questioning the oil wars should "leave this country" and/or are somehow "unpatriotic." Yet, moving your business abroad and laying off millions of American workers is somehow "not" bad for America.

    I can't think of anything more treasonous than turning your back on the American work force. But, these businessmen do have a choice to make to maintain that profit margin. And, surely, those fathers of 4 can "find work elsewhere" just like that <snap>.
     
  10. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Bull$#!t...


    the same people at these failed financial companies who created a lot of this mess, and had to be BAILED OUT...also reciecved massive bonuses and compensaion.

    were you not around for that?

    Lets see...

    Economy on the verge of a double dip recession.
    Unemployment skyrocketing.
    Salaries stagnant.
    rising deficit.


    yet CEOs are making record profits?



    "on the surface it seems very greedy" -IcyPatriot




    GEE....I wonder why?
     
  11. Real World

    Real World Moderator Staff Member

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    Clearly you missed economics class in college. A companies job is to make a profit, and increase them whenever possible. Companies will not let people go if they need them. They cut people loose when demand is down, they are not needed, or costs need to be cut. While I personally don't like to read about losers like that HP guy getting tens of millions upon departure, I understand that his making said money, is a product of the industry. The same type of industries that pay Tom Cruise $20 million a movie, or Sam Bradford $50 million guaranteed without ever having thrown a single pass in the NFL. It is what it is dude.

    If I might ask, what are banks supposed to do with the money they have to lend, and what are businesses supposed to do with the cash they have on hand? Are banks supposed to just lend it, or does there have to be a viable lendee, or reason to do so? Are businesses supposed to just expand, and/or hire, when their isn't a market demand for doing so? Further, when the current economic situation is down, and prospects moving forward point to more of the same, shouldn't a business stockpile some cash to make use of during these lean times? I currently have tens of thousands of square feet of commercial space that's vacant. November will mark 2 years that it's been so. Who pays the mortgage, the taxes, the gas, electric, insurance, etc. when I'm tenantless? That's right, we do. So excuse me if I decide to hoard some cash to make sure I don't go under when times like these come around. It's always the people who wouldn't know how to run a hot dog stand, that like to tell businesses how they should operate. Of course, maybe some of these companies should spend, spend, spend since the government will likely be there to bail them out. With our money.
     
    Last edited: Sep 1, 2010
  12. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    CEO's are in essence hired and paid by the shareholders, they determine what the compensation is and whether the CEO is retained. What the owners of the company choose to pay their employee (the CEO) is their business.

    What Kraft choose to pay Brady and BB is his business not anyone elses.

    If you don't want a CEO who cuts the workforce to make the company profitable easy get together with your friends take your money and buy into the company and fire the CEO for not hiring people and for laying people off. You may lose money whe the stock tanks but you will feel good about yourself.
     
  13. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    wow...sounds like someone isnt keeping up with news.

    Banks are NOT LENDING
    Comapnies are KEEPING CASH
    people are getting LAID OFF

    CEOs are making MORE MONEY?

    Unemployment is skyrocketing, jobs are being outsourced for cheap labor. You and others who think like you seem to be on the side of capitalism, not really a value this nation was founded on AT ALL. Its a nation of the people and for the PEOPLE.

    when our representative make it financially vialble for our companies to outsource jobs, and not pay their fair share of taxes (Study says most corporations pay no U.S. income taxes | Reuters) . We need to question whose side they are on. Better yet...YOU need to.

    This isnt a Capitalist nation, it became one. You shills keep telling me that we need to take our country back...maybe you are right. But to a time when our representative government represented its people, not its compnaies. When we fought for our taxation to come with such representation.

    You keep telling me about economics class.....did you ever take an ethics class? is anyone involved in our WONDERFUL DEBT/CREDIT driven capitalistic system required to take such a course, or do they even care?

    "Get all the money you can....by any means necessary"

    Great morals, and a wonderful foundation for failure.
     
  14. Real World

    Real World Moderator Staff Member

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    I'm not keeping up with the news? You didn't even read you own article, which states that CEO pay is down the last 3 years.

    Who are banks supposed to lend to? You do know how lending works right? Someone needs money, someone with money agrees to lend to them. The lender checks the lendee's credit, and overal fiscal situation. If said person is a viable candidate, a loan is made. If said candidate doesn't look like they will be able to pay the loan back, or their fiscal outlook is bleak, then no dice. Furthermore, to borrow money, one has to be looking to take on more debt, and liability. Who does that in tough economic times? Not many. The only people looking for cash right now, are those in trouble, or the select few who are in a situation 80% of the rest of us, are not. That would be a good one.

    Companies are keeping cash because they trimmed their fat, have increased productivity, have sold most of their standing inventory, and are preparing themselves for one of two things. The trouble ahead, as well as a good financial standing for when the economy turns around. Cash is king as we like to say in business. Having it on hand during lean times, and when expansion happens, is extremely ideal. Plus, why would you hire a second chef, when you can barely keep the head chef busy? The answer is, you wouldn't.

    As for outsourcing, when have I ever supported it? I'm not a no holds barred free trader. I'm open to, and support the concept of trade agreements, but to gut yourself for cheap products from other countries, is penny cheap, and dollar foolish. All these "free" trade agreements should be frozen, and rewritten to serve in the best interests of the American people, and not those of corporatists, and foreign countries. Like that 5 year old said at Fenway on opening day, Screw Em!
     
  15. apple strudel

    apple strudel Banned

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    Maybe the point should be that we stop screwing over the average American worker so that people and corporation can make billions of dollars off our backs. And that is probably a more astute understanding of economic reality in this country than any apologist for capitalism, though probably not quite as astute (if by astute one means sociopathic) an understanding as that of the richest capitalists themselves.
     
  16. apple strudel

    apple strudel Banned

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    The point is that we should not be worshiping and blindly apologizing for a model that leads to widespread unemployment and power imbalances.

    It happened in this country in the 19th century with the robber barons, we learned a bit and passed all sorts of reforms that lead to America's hey-day in the 1950s, and we collectively forgot our history starting in 1980.
     
  17. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #24 Jersey

    On the surface it dies seem greedy but we are a capitalist country. If you control what these people make we move away from capitalism and perhaps they move $$$ out of the country. We are now in a global economy.

    People can produce and make money where their profits are maximized. If all these CEO's lived out of the country would that be better? They don't have to live here or invest here. We have to compete with other countries for their money. Sucks big time but until we change from capitalism this is what we are. Those large bonuses produce efficiencies that keep people employed ... hard to fathom but true.

    I say find better ways to get them to pay more taxes would be better for the country.
     
  18. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #24 Jersey

    There are billionaires around the world from different economic systems. I look at the deficits our country runs and I shudder to think of where this country would be if we were more of a socialist model. We would be closer to Cuba than we are to what we have now.

    Government regulation strangles markets. I think the regulations needed are ones that protect us from collapse and leave everything else alone.

    The money these people make creates efficiencies in the market and they further invest their money because they are also consumers. I would rather find ways to keep them here and let them make their money so they spend it here.

    Simply denying them their pay would not equal workers getting paid more. Workers getting paid more would also increase inflation. If all workers next week earn an extra $100 week ... inflation would temporarily skyrocket. Denying money to CEO's is not a win-win situation. Find more ways to tax them or give them incentives to invest in America. If they had more incentive to invest in America we would employ more people. If investing here had more profit than investing in the DR we would employ more people.

    Why do we want to take money from the people that can invest in the USA.
     
    Last edited: Sep 1, 2010
  19. iapatsfan

    iapatsfan In the Starting Line-Up

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    You have to love liberals who complain about the amount of money CEO's are making while they are cashing the checks these CEO's provide, and they have no problem with the 20%-50% the US Government takes out of those checks. The liberal drum line is so juvenile and predictable it's almost pathetic.

    Liberals also have no problem with the fact federal employees are making signicantly more than their private sector counterparts. Federal pay ahead of private industry - USATODAY.com
    It's perfectly fine our taxes go to pay these people premiums far above those of us in the private sector. At least these CEO's are doing it with their own money, not mine. However, something tells me liberalism is really now starting to be seen for what it is, and the gravy train for all of these people is coming to an end.
     
    Last edited: Sep 1, 2010
  20. apple strudel

    apple strudel Banned

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    No, they limit profits. Why do you think rich people whine about them so much?

    In fact, one of our markets has blown up precisely because of a government regulation.
     

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