capitalism
capitalism
Out of context: Reply #729
- Started
- Last post
- 1,536 Responses
- neverscared4
US millionaire CEOs saw 29% pay raise while workers’ pay decreased – report
Workers saw 2% decrease as companies gave leaders bonuses and forgiving performance benchmarks amid pandemic- There’s so much inaccuracy and false equivalence in this it’s terrifying. This is not credible or even noteworthy.Morning_star
- prove them wrong and show us some numbers then morning...or just stfu up.neverscared
- your comment has zero substance without showing the inaccuracy.neverscared
- Ok, for a start most CEOs renumeration packages are based on the previous years performance so comparing 2020 CEO bonuses with 2020 median salaries is...Morning_star
- ...misleading.
Median salary is a completely arbitrary figure and will range wildly depending on what the company does, how many people it employs and at...Morning_star - ...what level of seniority they choose to include or not.
There is no 'control', the report cherry picks the worst possible business performances and lowest...Morning_star - ...median salary and portrays them as a reflection of the 'problem.Morning_star
- This is a lesson in how to manipulate basic information to create a bullshit headline and promote an idealogical agenda. Grow up.Morning_star
- "based on previous years performance", that's arbitrary, too. Stock price? Revenue? Bottom/top line?formed
- This is where capitalism fails. It rewards paying employees as little as possible, leveraging as much out of them as possible and pumping up stock prices.formed
- Then the CEO makes criminally large numbers saying how "successful" the company is based on the stock price.formed
- I play the game and profit from those stock prices, but to say it's not criminally disproportionate and a real problem is sadly naive.formed
- The wealth divide will cause a reckoning in the not-too-distant future.
Thankfully, CEOs are not getting approval for their ridiculous pay as much as before.formed - 'Based on the previous years performance' IS arbitrary and depending on the bonus structure the CEO has agreed with board it can manifest itself in a myriad...Morning_star
- median salary is def. not arbitrary number...what´s this a kindergarten?neverscared
- ...ways. Which is another reason why this article is valueless, CEOs strike massively variable ways to receive bonuses. Some ofset them against pensions...Morning_star
- ..., options on stocks, offshore investments, they may not receive these bonuses for years.
It may be disproportionate but how on earth would you control...Morning_star - ...Executive renumeration?Morning_star
- @neverscared, would care to explain? I understood that the median is the middle value in a range. So, depending on how many people and what range of salaries...Morning_star
- ...are included will skew the median number arbitrarily. No?Morning_star
- its not arbitrarily, it´s the lowest ... so to illustrate the two poles... how anyone thinks that idealogical is beyond me.neverscared
- Just so there’s no confusion. The median number in a group is the middle number. If you take the numbers 1 to 5 the median is 3. The arbitrary factor is all...Morning_star
- ...of the variables. The groups of salaries used are defined by the report writers and manipulated to prove the point they want to make. The data set is...Morning_star
- ...skewed in favour of the lowest salaried workers. The group selection is not consistent and is engineered to support a pre existing conclusion. The think...Morning_star
- ...tank that produced this report has an agenda they want to further publicly using the press. That agenda is ideological.Morning_star
- nopeneverscared
- its not skewing anything.. their intentions is to show how the richest get more rich and the poorest get more poor...that´s not ideological that´s numbers.neverscared
- it´s the opposite of arbitratry ...it´s specific !neverscared
- "their intentions is to show how the richest get more rich and the poorest get more poor"... I think you made my point brilliantly, thank you.Morning_star
- my pleasure ! so your arbitrary statement is is horseshit..neverscared
- Look, we seem to be talking passed each other here. You are right in that the median number is fixed and specific, my point is that the data sets used are...Morning_star
- ...defined by the think tack to magnify and illustrate the agenda they are promoting. In that sense the median is an arbitrary number they've decided on...Morning_star
- ...rather than using an unbiased approach. They've fixed the figures to prove their point.Morning_star
- If you compare the median before and after, how is that not using an "unbiased" approach? What's your "unbiased" solution?formed
- My 'unbiased' solution would be to not compare things a that aren't comparable.Morning_star