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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 05-23-2013, 09:39 PM   #31
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These lavish corporate CEO compensation deals wouldn't bother me so much if these ****ers and their companies paid their fair share of taxes.
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Old 05-23-2013, 09:44 PM   #32
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See, this is why you're such an effing loser. You don't hope for things. You work hard, practice your craft and earn what you get. CEOs aren't just random assholes off the street. They worked to get there. They develop skills that make them valuable to their company.
I don't post often, but after years of reading bs from you and others like you, I had to say something. Stop worrying about what joe billionaire has...it will serve you better to
enjoy what you have, or do what's necessary to improve your situation.
Calling you a loser is wrong, I apologize, but you carry that mentality. There isn't a single CEO or NBA player that advanced to that level on hope. You'd be wise to understand and grasp that.

Carry on...
You should keep lurking dipshit. Your chance of making CEO by working your way up is almost zero.

I could give a **** what these guys make as long as they deliver in creating shareholder value. As an investor (& all of you should be through retirement savings and personal savings) you should be concerned with how much they make and how much value they create. There is overwhelming evidence that outsized CEO compensation destroys shareholder value rather than add to it.

Next time you should think before jumping to conclusions about my perspective. Now go sit in time out for another couple years.
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Old 05-23-2013, 09:49 PM   #33
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My son is a six foot two white guy, not going to happen. He has a better long shot as a CEO.

As far as the topic, I really don't give two shits what some CEO is making because I have no control over that. I worry about what I'm making, which at this point I'm very happy with.
You should be concerned. Do you own any stocks? Mutual funds? Outsized and misaligned CEO compensation hurts your investment returns.
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Old 05-23-2013, 09:54 PM   #34
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You should keep lurking dipshit. Your chance of making CEO by working your way up is almost zero.

I could give a **** what these guys make as long as they deliver in creating shareholder value. As an investor (& all of you should be through retirement savings and personal savings) you should be concerned with how much they make and how much value they create. There is overwhelming evidence that outsized CEO compensation destroys shareholder value rather than add to it.

Next time you should think before jumping to conclusions about my perspective. Now go sit in time out for another couple years.
Then don't buy stock in those companies or sell your stock in those companies if you have concerns about the amount of compensation a CEO gets. The great thing about the free market, even if it is way over-regulated, is that no one is forcing you to invest or stay invested.
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Old 05-23-2013, 10:00 PM   #35
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Then don't buy stock in those companies or sell your stock in those companies if you have concerns about the amount of compensation a CEO gets. The great thing about the free market, even if it is way over-regulated, is that no one is forcing you to invest or stay invested.
and what from my post would suggest I own or want to own companies that overly compensate their CEO.
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Old 05-23-2013, 10:05 PM   #36
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and what from my post would suggest I own or want to own companies that overly compensate their CEO.
Then why complain about it? It doesn't affect you then it is really none of your business if these companies want to offer the CEO some benefit or another. If the business makes enough of the wrong choices they will fail. If they make the right choice it enhance the chances they retain the CEO.
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Old 05-23-2013, 10:10 PM   #37
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Then why complain about it? It doesn't affect you then it is really none of your business if these companies want to offer the CEO some benefit or another. If the business makes enough of the wrong choices they will fail. If they make the right choice it enhance the chances they retain the CEO.
...you guys have very simplistic and naive views on the real world.

It affects everyone in this country. You can't control what your mutual funds buy. And by law, it is everyone's business. This stuff has to be declared in financial statements for a reason. But continue sucking up to the elite while they choke out what has made this country exemplary for partisan reasons. It makes you look smart.
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Old 05-23-2013, 10:20 PM   #38
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You should be concerned. Do you own any stocks? Mutual funds? Outsized and misaligned CEO compensation hurts your investment returns.
Stocks, bonds, land, gold, cash, guns and a few other investments, I'm good.
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Old 05-23-2013, 10:21 PM   #39
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...you guys have very simplistic and naive views on the real world.

It affects everyone in this country. You can't control what your mutual funds buy. And by law, it is everyone's business. This stuff has to be declared in financial statements for a reason. But continue sucking up to the elite while they choke out what has made this country exemplary for partisan reasons. It makes you look smart.
I don't believe the government should have the ability to be able to assess an income tax, so throwing out the "by law" canard does not make me care. Really, someone's finances shouldn't be mine, yours, or the governments business.

I don't suck up to the elite. The elite wouldn't like me very much since I am all for pulling down the regulatory state that stifles their competition. Ending all subsidies, and all corporate taxes. I want a much more free market with more competition. That isn't exactly a plank of either team red or team blue, so its kinda hard to paint me as a partisan.
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Old 05-23-2013, 10:43 PM   #40
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I don't care how much executives make. It's just kind of annoying watching the ones cash fat bonuses when the company is laying off or going broke.
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Old 05-23-2013, 10:46 PM   #41
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I don't believe the government should have the ability to be able to assess an income tax, so throwing out the "by law" canard does not make me care. Really, someone's finances shouldn't be mine, yours, or the governments business.

I don't suck up to the elite. The elite wouldn't like me very much since I am all for pulling down the regulatory state that stifles their competition. Ending all subsidies, and all corporate taxes. I want a much more free market with more competition. That isn't exactly a plank of either team red or team blue, so its kinda hard to paint me as a partisan.
Ah, so you're BEP/TJ type of crazy. Your utopia, Somalia, awaits you.
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Old 05-23-2013, 10:55 PM   #42
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Ah, so you're BEP/TJ type of crazy. Your utopia, Somalia, awaits you.
Nope, my utopia would look more like the Commonwealth of Iceland but with a more encoded law. I believe in some form of government, just one that has little power.
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Old 05-24-2013, 05:28 AM   #43
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You should keep lurking dipshit. Your chance of making CEO by working your way up is almost zero.

I could give a **** what these guys make as long as they deliver in creating shareholder value. As an investor (& all of you should be through retirement savings and personal savings) you should be concerned with how much they make and how much value they create. There is overwhelming evidence that outsized CEO compensation destroys shareholder value rather than add to it.

Next time you should think before jumping to conclusions about my perspective. Now go sit in time out for another couple years.
This was a pretty predictable response.
Your chances of becoming a CEO are pretty slim...because you're a lazy dumbass. If the CEO doesn't add value, then as a stockholder, you do have the power to assist in a change. Sit in on shareholders meetings, talk to other shareholders, call or send emails to board members with concerns. This is exactly what just transpired with Chesapeake energy. CEO and a few board members resigned from pressure put on by by the holders.
Stop being so lazy. I'm a 33 year old that in 8 years has moved up in my company from a lowly remote technician making $6.50 an hour to a self taught graphic designer and inventory manager creeping dangerously close to 6 figures. I did that by working extremely hard and creating value of myself, and for my company. Just like a CEO. Moving up does and will happen with hard work and dedication.
As far as going back to lurking, I imagine my presence on this board is enjoyed more than yours, so eat a bag of dicks.

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Old 05-24-2013, 06:22 AM   #44
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You should keep lurking dipshit. Your chance of making CEO by working your way up is almost zero.

I could give a **** what these guys make as long as they deliver in creating shareholder value. As an investor (& all of you should be through retirement savings and personal savings) you should be concerned with how much they make and how much value they create. There is overwhelming evidence that outsized CEO compensation destroys shareholder value rather than add to it.

Next time you should think before jumping to conclusions about my perspective. Now go sit in time out for another couple years.
When you look at companies that went from being decent companies to huge monsters (Walgreens for example) the CEO's are almost always home-grown and not the outside hire celebrity type who lavish gifts upon themselves at corporate expense.

You won't get a job as a CEO at a giant corporation, but it's damn possible (and not uncommon) for someone to work their way up from the bottom of a decent sized company and turn it into a giant corporate monster. When they retire they're usually replaced by some outside celebrity CEO and positive movement stops. That is the fault of shareholders. They should be holding them accountable.
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Old 05-24-2013, 06:41 AM   #45
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I see republicans are in here lying about taxes again. And defending a inequality in compensation that makes third world hellholes blush.

No, the rich DO NOT pay the majority of taxes.

The one tax graph you really need to know

http://www.washingtonpost.com/blogs/...e-of-tax-data/

This entire conversation is the result of a (largely successful) effort to redefine the debate over taxes from “how much in taxes do you pay” to “how much in federal income taxes do you pay?” This is good framing if you want to cut taxes on the rich. It’s bad framing if you want to have even a basic understanding of who pays how much in taxes.

There’s a reason some would prefer that more limited conversation. For most Americans, payroll and state and local taxes make up the majority of their tax bill. The federal income tax, by contrast, is our most progressive tax — it’s the tax we’ve designed to place the heaviest burden on the rich while bypassing the poor. And we’ve done that, again, because the working class is already paying a fairly high tax bill through payroll and state and local taxes.

But most people don’t know very much about the tax code. And the federal income tax is still our most famous tax. So when they hear that half of Americans aren’t paying federal income taxes, they’re outraged — even if they’re among the folks who have a net negative tax burden! After all, they know they’re paying taxes, and there’s no reason for normal human beings to assume that the taxes getting taken out of their paycheck every week and some of the taxes they pay at the end of the year aren’t classified as “federal income taxes.”

But what if we did the same thing for the payroll tax? Remember, the payroll tax only applies to first $110,100 or so, our rich friends is only paying payroll taxes on 2.7 percent of his income. The guy making $40,000? He’s paying payroll taxes on every dollar of his income. Now who’s not getting a fair shake?

Which is why, if you want to understand who’s paying what in taxes, you don’t want to just look at federal income taxes, or federal payroll taxes, or state sales taxes — you want to look at total taxes. And, luckily, the tax analysis group Citizens for Tax Justice keeps those numbers. So here is total taxes — which includes corporate taxes, income taxes, payroll taxes, state sales taxes, and more — paid by different income groups and broken into federal and state and local burdens:



As you can see, the poorer you are, the more state and local taxes bite into your income. As you get richer, those taxes recede, and you’re mainly getting hit be federal taxes. So that’s another lesson: When you omit state and local taxes from your analysis, you’re omitting the taxes that hit lower-income taxpayers hardest.
But here is really the only tax graph you need: It’s total tax burden by income group. And as you’ll see, every income group is paying something, and the rich aren’t paying much more, as a percentage of their incomes, then the middle class.



That’s really what the American tax system looks like: Not 47 percent paying nothing, but everybody paying something, and most Americans paying between 25 percent and 30 percent of their income — which is, by the way, a lot more the 13.9 percent Mitt Romney paid in 2011*.

When politicians try to convince you that half of Americans aren’t really paying taxes, it’s usually because the real data undermines their preferred policies. For instance, you wouldn’t look at these numbers and think tax cuts for the rich need to be a huge priority. And that’s one reason people who want more tax cuts for the rich don’t like to show you these numbers.

* Romney’s 13.9 percent rate only counts his federal taxes. He hasn’t released his state and local returns for 2011, so we can’t say how that would change his total tax rate. But given the state and local averages for someone in his income group, it’s likely to remain well below the 25-30 percent that is typical.

---

How the middle class became the underclass

http://money.cnn.com/2011/02/16/news...lass/index.htm

NEW YORK (CNNMoney) -- Are you better off than your parents?

Probably not if you're in the middle class.

Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.

In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data."

---

/jealousy? No, we are mad because by monopolizing the countries wealth, it in effect screws over the rest of the country. Wealth IS an finite resource. By hoarding it at the top, everyone else does worse.
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