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Old 05-23-2013, 10:14 AM  
gblowfish gblowfish is offline
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NEW YORK (AP) -- Wynn Resorts pays for founder and CEO Steve Wynn's residence at its tony Las Vegas hotel and casino at a cost of nearly $452,000.

Former IBM CEO Samuel Palmisano was guaranteed an administrative assistant and furnished office for life as a retirement gift plus a $1 million office renovation.

Chipmaker Advanced Micro Devices bought the house CEO Rory Read struggled to sell for $790,000 and gave him another $180,000 to cover his underwater mortgage.

These are not uncommon extravagances in the exclusive world of CEO perks, replete with bodyguards, chauffeurs and private jets. Last year, the median value of perks received by CEOs of big public companies was nearly $162,000, an increase of more than 9 percent, according to executive pay research firm Equilar. Perks declined in 2009, but have risen for three straight years.

Perks are just a small part of CEO compensation the median pay for CEOs of S&P 500 companies last year was $9.7 million. And some companies are cutting back on perks, or at least getting rid of the ones that shareholders find most offensive. Still, they're a reminder of how CEOs' lifestyles are far removed from those of their shareholders, customers and employees.

Last year, companies paid for their CEOs' country club memberships, let them use corporate planes for personal travel and gave them health care plans better than their employees, among other perks.

Some corporate governance experts say giving perks to executives already making millions just exacerbates the public perception fair or not that they're more interested in lining their pockets than helping the company.
"They might do without a plane," says Brandon Rees, acting director at the investment office of the AFL-CIO union group, referring to CEOs' use of company planes for personal travel. "And instead invest it in (research and development)."

Companies tend to defend perks as legitimate business expenses that ultimately benefit shareholders: Flying on private planes keeps the executives safe. Country club memberships help them network. An attractive package helps a company lure the best talent.

"It is in the company's best interest if that person doesn't have to think about daily things as much as you or I might need to," says Jay Meschke, president of CBIZ Human Capital Services, a compensation and human resources consultant outside Kansas City, Mo. "You want to make sure that 100 percent of this person's efforts are devoted to the company's success."

Wynn Resorts calls CEO Wynn its "creative and organizational force," and says having him "in residence" at the Wynn Las Vegas "is a tremendous benefit to our guests and shareholders." The company says Wynn spends most of his time at the resort, and doesn't own a home in Las Vegas.

IBM says that giving the retiring CEO an office and administrative support is consistent with past practice, but declined to comment further. Advanced Micro Devices says that buying Read's old home helped speed up his transition to AMD from Lenovo, where he was chief operating officer.

Here are some other notable perks from 2012, spotted with help from GMI Ratings, which ranks companies on corporate governance metrics, and Footnoted.com, which scans SEC filings for institutional investors:

AN EXCLUSIVE CLUB: Diebold, an ATM security company, got rid of country club benefits for all its executives except CEO Thomas Swidarski, who Equilar calculated would earn $6.1 million for 2012. The company said that "he, more so than our other executives, would benefit from the business development and networking opportunities." The company spent $72,280 on memberships for Swidarski, who stepped down in January under pressure from a board unhappy with the company's financial results.

A PLACE TO CALL HOME: Insurer Axis Capital Holdings gave Albert Benchimol a housing allowance of $25,000 when he became CEO last year. That was included as part of a pay package, mostly in stock awards, that could be worth $22.7 million. Axis says it gives housing allowances to certain executives to help them pay for second homes in Bermuda, where the company is based, so that "talented executives" won't be deterred from joining the company. Shareholders earlier this month voted against the pay packages for Benchimol and other executives. The company didn't comment at the time.

HOME, SAFE HOME: Las Vegas Sands spent $2.8 million to provide security for CEO Sheldon Adelson and his family. The company said it was acting on the advice of an independent security consultant for Adelson, a major donor to the Republican Party whose total pay for 2012 was about $10.7 million. That blew away the $1.6 million spent on a home security system by Amazon for Jeff Bezos, who is No. 2 in that category so far, according to GMI Ratings.

A DRINK WITH YOUR BENEFITS?: Constellation Brands, maker of Svedka vodka and Black Velvet whiskey, gave its CEO a $10,000 "product allowance," so he could enhance his "knowledge and appreciation of our products." CEO Robert Sands, who made $7.7 million in fiscal 2012, used up $5,532 last year.
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Old 05-30-2013, 12:39 AM   #136
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Nah. Just pointing out that you're whining and bitching. And jealous. I didn't expect you to react well to the observation. Children hate to be called childish. No big deal.
No, you're just being a simplistic dipshit.

Have you taken the time to look at papers regarding excessive CEO compensation and subsequent stock performance? Have you read the research about how massive wealth inequality stunts economic growth? Have you ever looked at how corporate governance these days is less about share holders' rights and more about crony relationships?

The answer is obviously no. Go ahead and chalk it up to jealousy though. That fits right in with the rest of the hare brained libertarian platform and your like minded idiots TJ and BEP.
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Old 05-30-2013, 06:19 AM   #137
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It turns out supply side economics works really well. Example: I have a cell phone in my hand right now that 20 years ago would have cost into millions to own. Today, millions of people are able to buy these things at a fraction of the price. This is just a small example of how the wealth has trickled down. These kinds of advances have found their way into our lives across every facet that touches our lives.

If you sit on a computer and besmirch supply side economics, you're being a bit of a hypocrite. There's no way you'd have been able to afford that much computing power if it weren't for supply side.

Yes, technology improving and getting cheaper is wealth trickling down.

Just like no one is poor because they own refrigerators.

/sarcasm
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Old 05-30-2013, 06:21 AM   #138
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No, I mean like the Nazis, the various socialist and communist parties around the world, and the democrats.

And never Republicans, right?

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Old 05-30-2013, 06:23 AM   #139
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Originally Posted by listopencil View Post
Nah. Just pointing out that you're whining and bitching. And jealous. I didn't expect you to react well to the observation. Children hate to be called childish. No big deal.

Here is chart that shows the value of the minimum wage. It has gone down. Which means a minimum wage job provides less than it did thirty years ago.

Explain why that is justified.

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Old 05-30-2013, 08:21 AM   #140
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Originally Posted by Loneiguana View Post
Yes, technology improving and getting cheaper is wealth trickling down.

Just like no one is poor because they own refrigerators.

/sarcasm
You apparently laugh at that refrigerator thing, but there's a lot of truth to it. Most of the "poor" in the US have it pretty good by both contemporary global standards and by historical standards. It's time for more gratitude and less whining and jealousy.
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Old 05-30-2013, 01:34 PM   #141
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Originally Posted by Taco John View Post
It turns out supply side economics works really well. Example: I have a cell phone in my hand right now that 20 years ago would have cost into millions to own. Today, millions of people are able to buy these things at a fraction of the price. This is just a small example of how the wealth has trickled down. These kinds of advances have found their way into our lives across every facet that touches our lives.

If you sit on a computer and besmirch supply side economics, you're being a bit of a hypocrite. There's no way you'd have been able to afford that much computing power if it weren't for supply side.
Ah how did I miss this last night. Wow....you are a ****ing moron.

Technological advancement happened before supply side economics was even dreamed up and will carry on without it (look at cars for example). Economies of scale have nothing to do with supply side economics. Everything about your post is ****ing wrong.
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Old 05-30-2013, 01:37 PM   #142
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You apparently laugh at that refrigerator thing, but there's a lot of truth to it. Most of the "poor" in the US have it pretty good by both contemporary global standards and by historical standards. It's time for more gratitude and less whining and jealousy.
Yes, because only the wealthy should be entitled to improvements in the standard of living in a society.

For someone who is supposedly so "Pro" America, I don't understand why you feel the need to benchmark us to shit holes so you can carry the water for wealthy in our country.
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Old 05-30-2013, 01:44 PM   #143
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Ah how did I miss this last night. Wow....you are a ****ing moron.

Technological advancement happened before supply side economics was even dreamed up and will carry on without it (look at cars for example). Economies of scale have nothing to do with supply side economics. Everything about your post is ****ing wrong.
Economic principles don't come into being when an economist dreams them up. Economists discover economic principles that already exist.

An example of a technological explosion that has the economic principles of SSE to thank is the growth of the internet and e-commerce. Lower relative regulatory and tax burdens allowed the internet industry to take off like wildfire over the past couple of decades. Regrettably, now democrats and even some Republicans are looking for ways to choke it into submission.
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Old 05-30-2013, 01:45 PM   #144
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Yes, because only the wealthy should be entitled to improvements in the standard of living in a society.

For someone who is supposedly so "Pro" America, I don't understand why you feel the need to benchmark us to shit holes so you can carry the water for wealthy in our country.
What is this bizarre talk of entitlement?
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Old 05-30-2013, 01:48 PM   #145
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Economic principles don't come into being when an economist dreams them up. Economists discover economic principles that already exist.

An example of a technological explosion that has the economic principles of SSE to thank is the growth of the internet and e-commerce. Lower relative regulatory and tax burdens allowed the internet industry to take off like wildfire over the past couple of decades. Regrettably, now democrats and even some Republicans are looking for ways to choke it into submission.
For someone who is such a Ronnie Raygun ballwasher, you should know more about the history of supply side economics and how it is supposed to work.

Supply side tax policy does not spur innovation. Research spurs innovation.
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Old 05-30-2013, 01:59 PM   #146
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For someone who is such a Ronnie Raygun ballwasher, you should know more about the history of supply side economics and how it is supposed to work.

Supply side tax policy does not spur innovation. Research spurs innovation.
SSE in a nutshell: Lowered tax and regulatory hurdles spur economic growth. Class dismissed.
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Old 05-30-2013, 02:07 PM   #147
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Here is chart that shows the value of the minimum wage. It has gone down. Which means a minimum wage job provides less than it did thirty years ago.

Explain why that is justified.


So now you are blaming CEO's for inflation and government wage control policy? Anything else? Global warming, your bursitis, the nasty smell of your dog's breath? It's funny to see "the left" bend over backwards to blame the rich for everything in the same way that "the right" blames Obama for everything. Funny but sad. And stupid.
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Old 05-30-2013, 02:10 PM   #148
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SSE in a nutshell: Lowered tax and regulatory hurdles spur economic growth. Class dismissed.
Yea, if only there wasn't the pesky problem of it not working.
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Old 05-30-2013, 02:37 PM   #149
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Yea, if only there wasn't the pesky problem of it not working.
Enjoy the internet's explosive growth, at least until big government types like yourself snuff it out.
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Old 05-30-2013, 02:44 PM   #150
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You apparently laugh at that refrigerator thing, but there's a lot of truth to it. Most of the "poor" in the US have it pretty good by both contemporary global standards and by historical standards. It's time for more gratitude and less whining and jealousy.
The point is, that just because our poor have it better than history, doesn't mean we don't have a problem with wealth inequality nor does it mean that poor people in this country are not struggling.

Society has advanced enough for those electronics to be part of the lowest common denominator. It does not mean that people aren't poor.

That only works if we ignore the fact that Americans live paycheck to paycheck, ignore the high levels of student loan debt, ignore that a vast number of Americans will go bankrupt if they have a medical emergency, or other issues the lower classes of America have.
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