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from the because-when-they-mess-up-they-only-have-a-golden-parachute...wait-a-minute dept.
Why are CEOs of U.S. firms paid 320 times as much as their workers?:
Last August, Jamelle Brown, a technician at Research Medical Center in Kansas City, Missouri, contracted Covid-19 while on the job sanitizing and sterilizing rooms in the facility's emergency department. Luckily, his case wasn't severe, and after having quarantined, he was back at work.
Upon his return, Brown was named Employee of the Month in his unit and given a gift voucher for use in the hospital cafeteria. The amount: $6.
"That stung me to the bone," said Brown, who makes $13.77 an hour and has worked for almost four years at the hospital, owned by the corporate giant HCA Healthcare. "It made me sit back and say, 'This place doesn't care for me.'"
Research Medical's owner, HCA Healthcare Inc., is a profitable, publicly traded network of 185 hospitals and 121 freestanding surgery centers in 20 states and England. Even in the year of Covid-19, 2020, the company generated $51.5 billion in revenue and increased its pretax earnings by 3.6 percent. Its shares are up by 14 percent this year, versus 10 percent on the Standard & Poor's 500 index.
That performance helped boost the total compensation HCA's chief executive, Samuel N. Hazen, received last year to $30.4 million, a 13 percent rise from 2019, documents show. Although Hazen's salary was 5.8 percent lower in 2020, the total worth of his compensation package equaled 556 times the compensation received by the median employee at HCA — $54,651.
The figures highlight the growing CEO pay gap, a problem among many public companies according to some investors and workers and even a few CEOs. In 2019, for example, the average pay ratio among 350 large American companies was 320-to-1, according to research by the Economic Policy Institute, a left-leaning think tank in Washington, D.C. In 1989, the average was 61-to-1.
(Score: 4, Insightful) by DannyB on Monday April 12 2021, @02:02PM (3 children)
Problem: today we have a lot of people who do not believe in democracy. If the election doesn't go their way, they are happy to overthrow, or to cheer on those who would overthrow the majority to install a minority into power. Then they refer to themselves as 'patriots'. Because they believe something that cannot be proven, despite all evidence to the contrary.
OMG! The dreaded word: regulation!
But seriously, if government didn't regulate things, then what other purpose would government have? The reason humans have had peacefully elected governments for a while now in modern times, is to have laws and regulations so that everyone can live together relatively peacefully. Norms of behavior at the very least. Laws if necessary.
Don't tell me you would want to burden the rich in order to give some people at the bottom a living wage?
If you think a fertilized egg is a child but an immigrant child is not, please don't pretend your concerns are religious
(Score: 0) by Anonymous Coward on Monday April 12 2021, @03:44PM
I'm not bradley13, but I would. Yeah, I'm kind of a bastard that way.
(Score: -1, Troll) by Anonymous Coward on Monday April 12 2021, @11:50PM
We need to break this country up. Fuck you dumb pieces of shit that voted for Biden/Harris. Please fucking start trying to take guns and see what happens. Please send Beto so i can feed him to the pigs. Ammo is pretty much sold out everywhere and guns are very limited. You bolsheviks are going to get yours soon.
(Score: 0) by Anonymous Coward on Wednesday April 14 2021, @01:35AM
On the contrary, it's not that they don't believe in democracy, it's that they believe the other party cheated.
There is some anecdotal evidence that they are right, but what convinces most of them is the resistance to changes that would reduce said cheating. Why would you oppose improving standards unless you are exploiting the low standards?