Not pointing at any one post, just the general feel of the thread.
I am one that is pro-business, since owners and employees all depend on sucessful businesses for their lively hood. About 1/2 of the US voting populations seems to feel that somehow, when a business is sucessful, is that it takes money away from someone else.
It's not automatic, but it's endemic
. Using the Hostess example, in 2005 when Hostess realized their business model depended on consumer trends that were changing they sent out a letter claiming their profits were up - then the execs all dumped their stock at a major profit and only paid 15% tax on that profit
- then they sent out a second letter saying "oops, we meant to say profits are way down" and promptly cut employee pay. This is Enron crap.
The employees then continued to pay $3/hr into a pension fund, but in mid 2011 the company stopped actually putting that money into the pension fund, despite the employees continuing to pay into it. Their claim was it was needed to fund operations - but somehow that "operations" continued to include bonuses. I don't know how an executive at a failing
company can get a bonus.. talk about entitlements!
Then came the bankruptcy this year, and nobody has to pay back the money that was intercepted from the pension funds... other than PBGC who can only cover a portion of it. Meanwhile 1.8 million of bonuses are *still* being squeezed out of the carcass to execs.
And I still can't figure out why an executive at a failing company gets a bonus, who gets a bonus for failing??
I have no problem with successful businesses and people who play fair, I have a problem with businesses and people that are only successful because they cheat and exploit unsustainable practices. Nothing's free. I don't care if Starbucks stays in business or not, they're just one of countless businesses in the world that operates by what has become a standard business model - I don't see it as being sustainable. And I don't see how the ceo can possibly provide 5000 times the value to the company's bottom line that any single barista brings. If I were a shareholder, I'd start questioning why they feel they need to give some guy a base salary of $16,000,000 to do that job when there are thousands of perfectly savvy, educated businessmen out there who could do the job for $1,000,000 or $200k or whatever. It's not like the CEO is irreplaceable.