Let CEOs fix the economy

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I would like to add my comments on the wealth redistribution efforts that the Republican Party likes to accuse the Democrats of attempting.

Recent news articles stated that the average CEO in 1980 made 43 times as much as the average worker. In 2011, this disparity has grown to about 345. Since this an average, there must be even higher extremes. Isn’t this ludicrous?

If CEOs would take a modest cut in this gap – down to, say, 100 times – the businesses could reduce the cost of their products or services. This probably would result in an increase in sales (demand). An increase in sales would require an increase in production, thus an increase in hiring. This is, after all, the secret to capitalism.

Since this is not likely to happen, the government might step in and take part of this excess, through taxes, and use it to create jobs. We all know this is not the preferred method, because government bureaucrats would not get the bang for the buck needed.

The CEOs could do a better job – if they only would.

Al Davis

Evans

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Pu239
284
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Pu239 10/15/11 - 01:04 am
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And everyone gets a
Unpublished

And everyone gets a helicopter powered by children’s laughter.....

Brad Owens
5068
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Brad Owens 10/15/11 - 03:05 am
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Great letter.

Great letter.

shrimp for breakfast
5718
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shrimp for breakfast 10/15/11 - 04:08 am
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Al your letter makes too much

Al your letter makes too much sense.

desertcat6
1140
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desertcat6 10/15/11 - 04:56 am
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Congress and the Presidet

Congress and the Presidet could do a better job - if only they would.

desertcat6
1140
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desertcat6 10/15/11 - 05:05 am
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Money talks - want to change

Money talks - want to change business practices? Vote with your patronage. Organize and boycot the products and services of these companies. Leave the government out of equation.

copperhead
1035
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copperhead 10/15/11 - 06:50 am
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All banks and private

All banks and private companies should be taken by the government and all proceeds redistributed to the people. The government runs things way better than any private interprise and should run and regulate all business. Bankers and ceos should be deported because they are the root of all evil. They want to make a profit and THAT is the spawn of SATAN! The government is on our side and is here to help us. Turn all assets over to to the government for redistribution to the people now!

howcanweknow
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howcanweknow 10/15/11 - 07:23 am
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Isn't Herman Cain a former

Isn't Herman Cain a former CEO (not a professional politician) that wants to get the economy back on track?

Jane18
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Jane18 10/15/11 - 07:28 am
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and........? What are you

and........? What are you trying to say hcwk?

howcanweknow
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howcanweknow 10/15/11 - 07:48 am
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Nothing in particular,

Nothing in particular, really. I have not made up mind whom to support for 2012. But, the LTE put the onus on CEO's to help fix the economy. I just found it a bit ironic that we have a former CEO running for president -- someone who has demonstrated the know-how to run an economic enterprise. Might be a nice change from the same-old, same-old politicians who talk about the economy but do nothing.

madgerman
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madgerman 10/15/11 - 07:49 am
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I wonder if the 999 plan is
Unpublished

I wonder if the 999 plan is an upside down 666 plan? P.S. Didn't Cain take Godfathers to the number 1 pizza in the USA? I need to google that question and see just how great a CEO he was and I will get back later.

Vito45
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Vito45 10/15/11 - 08:14 am
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desertcat is right. If you

desertcat is right. If you don't like what the board of directors for the XYZ company agreed to pay the CEO, organize a boycott of their products. The last thing we need is the government deciding what someone's pay needs to be.
You also need to take things in context. I work for a $12B conglomerate. Let's suppose our average salary is $50K and the CEO makes a staggering 1000 times that, or $50M. (he doesn't, but for illustration lets say he does)
We have 50K employees worldwide, so lets take this CEO down to 100X average and give the balance to the peasants. He now makes $5M and the $45M taken away from him gives the peasants a whopping extra $900/ person; or 1.8% raise.

Why aren't people protesting all of the professional sports players making $millions$ for playing a game, or movie stars making $tens of millions$ per film? Why are we willing to pay $hundreds$ for a ticket to a concert (whose bands are making $millions$), but resent a ceo who has successfully steered a company to profitabilty, saving the jobs of many, and creating profits for the owners?

howcanweknow
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howcanweknow 10/15/11 - 08:24 am
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Great point, Vito. Our

Great point, Vito. Our culture lauds people who do little or nothing to better the human condition (entertainers, pop stars, professional athletes, TV hosts), but often fail to appreciate those who do (teachers and educators, volunteers, etc.) No wonder this culture is going down the tubes. The priorities are all backwards. Just like the fall of the Roman empire: The theme was "bread and circuses." If you keep the masses fed and provide entertainment, that keeps their minds off important issues and allow a select elite to rule the masses. Maybe it's about "control?"

Jane18
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Jane18 10/15/11 - 08:30 am
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I was hoping you were

I was hoping you were thinking along those lines hcwk. At this time, I am impressed with Herman Cain(in fact, have been for the last several months)and if the election was today, Cain would be my man. He really does have a resume'..................

howcanweknow
2307
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howcanweknow 10/15/11 - 08:47 am
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Drastic times call for

Drastic times call for drastic measures. Maybe a new approach from a non-traditional candidate would work? Maybe this time we'd get some real hope & change instead of just more depression & same-old?

Jane18
12332
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Jane18 10/15/11 - 08:54 am
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Vito, the only way I can

Vito, the only way I can personally protest is- I don't go to any sports events(don't even watch on tv), don't go to movies, don't go to concerts(saw Elvis at the FOX in Atl., ticket was $15), don't buy their music, and buy only the things or food my husband and I need. I always try to buy 'made in America', which is getting harder and harder to find. Nowadays it seems whatever is popular is the trend, the people make me think of zombies the way they are lead.

allhans
25441
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allhans 10/15/11 - 09:24 am
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Didn't the rich CEO's end up

Didn't the rich CEO's end up with most of our stimulus dollars that Obama passed out to those "TOO large to fail".
What is Obama up to, he says he wants to share the wealth and then he gives our money to billionaires.
That man is NOT out to help the poor or middle class. His intention is to have us turn on the wealthy with his help, and destroy capitalism.

.

Pu239
284
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Pu239 10/15/11 - 09:19 am
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Funny.....Al Davis' letter is
Unpublished

Funny.....Al Davis' letter is right out of talking points from the AFL-CIO website. If a CEO isn't worth his compensation shouldn't the board or the consumer make that decision?
As others have mentioned where do you draw the line on compensation? Are athletes and entertainers worth the $'s they are paid? I'm sure their compensation is at least 300 times greater that a stage hand or vendor at the ball park.
I for one do not want my pay to be exactly the same as a work associate, no matter my level job mastery or productivity. I should be able to negotiate my own compensation based on my skills.

allhans
25441
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allhans 10/15/11 - 09:22 am
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Cain speaks well, (I detest

Cain speaks well, (I detest the 9-9-9 which sounds like something a 6th grader would come up with) but Cain going against Obama would be fatal for Conservatives.
WE must do better.

Riverman1
98769
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Riverman1 10/15/11 - 09:27 am
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Well, I think Cain grows on

Well, I think Cain grows on the public in a good way the more they see and hear him. He's just one of those people who come across the right way. I mean, that's obvious as heck the way he's grown in the polls. If he were in a series of debates with Obama I believe his charisma be the winning factor. He would also take a smidgen of the black vote from Obama. So I'm willing to GO FOR IT with Cain.

Riverman1
98769
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Riverman1 10/15/11 - 09:28 am
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Al Davis...that name throw

Al Davis...that name throw anyone else? Heh

harley_52
27485
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harley_52 10/15/11 - 10:03 am
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What would be the mechanism

What would be the mechanism for this? Would some CEO stand up and say "I'm cutting my salary to $1M" and then all other CEOs would follow?

Should the government determine what CEO salaries should be?

Should all CEO salaries be the same? If not, who decides?

What's the measure of a good CEO and would they work just as hard for less pay?

If you own stock in a company do you want the cheapest CEO you can find?

If CEO salaries are cut, should all other executive salaries be cut as well?

harley_52
27485
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harley_52 10/15/11 - 10:07 am
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Riverman, I agree with

Riverman, I agree with everything you said, but would add one more.....

If Cain is the Republican nominee, he takes the race card out of Obama's hands. That would be a major blow to his campaign strategy leaving him only his record to run on.

carcraft
30040
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carcraft 10/15/11 - 11:20 am
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allhans-Are you confusing

allhans-Are you confusing tarp with the stimulus program? The government is spending and giving away so much money that it is hard to keep track. Green energy loan subsides, Tarp, and stimulus money (that went among other things to teach African men how to wash their genitles and to build winfmills in Spain and China).

Vito45- and desrcat-If you don't like CEO compenstaion buy a little stock in a targeted company and atten the board meeting. Launch a program to lookk at CEO compensation. Talk with members on the board of directors of the corperation etc. etc! This occurs every time there is and economic down turn or stock market crash. Look at I believe the book was "Barbarians at the Gates" about how Johnson tried to take over RJ Reynolds and the smokeless cigeretes.

allhans
25441
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allhans 10/15/11 - 11:29 am
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carcraft..Not sure right now.

carcraft..Not sure right now. I had oral surgery yesterday and my mind is not completely clear..it kind of comes and goes..

allhans
25441
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allhans 10/15/11 - 11:54 am
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Jay Leno "•White House Chief

Jay Leno "•White House Chief of Staff Bill Daley announced he'll be leaving the White House after the election. I get the feeling a lot of people are going to be leaving the White House after the election. "

allhans
25441
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allhans 10/15/11 - 01:31 pm
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Is Chillen out of town this

Is Chillen out of town this weekend (?)

harley_52
27485
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harley_52 10/15/11 - 01:49 pm
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allhans asked "Is Chillen out

allhans asked "Is Chillen out of town this weekend (?)"

He's probably flown up to New York to participate in the "Occupy Wall Street" clean up.

allhans
25441
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allhans 10/15/11 - 06:19 pm
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From AP "— Italian police

From AP "— Italian police fired tear gas and water cannons as protesters in Rome turned a demonstration against corporate greed into a riot Saturday, smashing shop and bank windows, torching cars and hurling bottles.

The protest in the Italian capital was part of "Occupy Wall Street" demonstrations against capitalism and austerity measures that went global Saturday, leading to dozens of marches and protests worldwide."

Are we proud yet?

carcraft
30040
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carcraft 10/15/11 - 03:40 pm
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Yeh I see all the parallels

Yeh I see all the parallels with the tea party, don't you?

desertcat6
1140
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desertcat6 10/15/11 - 05:34 pm
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"and desrcat-If you don't

"and desrcat-If you don't like CEO compenstaion buy a little stock in a targeted company and atten the board meeting."

HUH?

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