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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 05-26-2013, 06:43 AM   #76
Loneiguana Loneiguana is offline
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It should also be mentioned that 50 years ago the auto industry wasn't getting crushed by paying the pensions and healthcare benefits of generations of retired workers, either. Retired workers who are living longer and longer, but at greater and greater cost.

I mean, I'm no fan of ****tarded corporate greed, but no comparison from then to now should overlook this.

Then why do other Developed Countries, like Germany, continue to do okay?

When you add up salary and benefits, the average auto worker in Germany makes $67.14 an hour. In the United States, auto workers only make $33.77 an hour in salary and benefits.

/don't believe them when they blame worker pay and healthcare.
//other developed countries found a way to keep healthcare cost down so they don't drain companies and people of money, we could fix that problem, but socialism
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Old 05-26-2013, 07:32 AM   #77
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Which part?

If the low pay of workers in other countries is needed to keep cost down and is the reason for outsourcing, than why not hold that same logic to CEO labor? America has the most expensive CEO labor in the World. We can obviously get the talent for less.

/do I think that will actually happen, no. But if you want to blame the "high pay" of the average american worker, than it is only fair to turn the tables
You've got a real cartoonish perspective on the world.
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Old 05-26-2013, 07:54 AM   #78
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Originally Posted by Loneiguana View Post
Then why do other Developed Countries, like Germany, continue to do okay?

When you add up salary and benefits, the average auto worker in Germany makes $67.14 an hour. In the United States, auto workers only make $33.77 an hour in salary and benefits.

/don't believe them when they blame worker pay and healthcare.
//other developed countries found a way to keep healthcare cost down so they don't drain companies and people of money, we could fix that problem, but socialism
Congratulations, retard. Your reply has nothing whatsoever to do with my post.
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Old 05-26-2013, 10:40 AM   #79
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I wasn't aware that the auto industry failed in the Fifties.

Do you have an excuse that isn't retarded?

The American Worker works harder, gets more done, and is paid LESS than thirty plus years ago. It is not jealousy to protest earning less money.

The average American is not enjoying the growth of the American economy.
How much of that productivity went into complying with the extreme growth of the regulatory state on federal, state, and local levels since 1980? Basically, sunk costs for businesses. How much of that productivity is due to the new technology of the information age?

Also, the 1950s and 1960s are a unique case. The United States was the only industrialized country left standing. Its competitors: France, Britain, Germany, Japan, and Italy were bombed to ruins due to WWII. The United States was producing products for the whole world plus producing products to rebuild those ruins.

Unless there is another massive world war that devastates almost every industrialized country in the world, you are not going to see it again.

That graph also shows when foreign competition was reintroduced back into the American market.
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Old 05-26-2013, 11:35 AM   #80
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That was the Republic of Iceland, established in 1944. The Commonwealth of Iceland was from 930-1262 AD. Perhaps you shouldn't call someone a dipshit when you have no clue what you are talking about.
from 930-1262 AD. You are a jackass. HAY EERYONE LES GO BACK TO DA GUD OL DAYZ
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Old 05-26-2013, 11:36 AM   #81
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How much of that productivity went into complying with the extreme growth of the regulatory state on federal, state, and local levels since 1980? Basically, sunk costs for businesses. How much of that productivity is due to the new technology of the information age?

Also, the 1950s and 1960s are a unique case. The United States was the only industrialized country left standing. Its competitors: France, Britain, Germany, Japan, and Italy were bombed to ruins due to WWII. The United States was producing products for the whole world plus producing products to rebuild those ruins.

Unless there is another massive world war that devastates almost every industrialized country in the world, you are not going to see it again.

That graph also shows when foreign competition was reintroduced back into the American market.
Seriously, shut the **** up. The trend in regulation since the 80s has been one of deregulation. You are a dipshit.
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Old 05-26-2013, 01:11 PM   #82
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from 930-1262 AD. You are a jackass. HAY EERYONE LES GO BACK TO DA GUD OL DAYZ
You may actually want to look up the social structure and government structure of that time period. It has a lot more in common with an anarcho-capitalist state then a Dark Ages monarchy.

So far you are 0 for 2 in actually doing research.
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Old 05-26-2013, 01:31 PM   #83
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Seriously, shut the **** up. The trend in regulation since the 80s has been one of deregulation. You are a dipshit.
Yes, because Sarbanes-Oxley, Obamacare, and Dodd-Frank were not massively huge regulations. Not to mention the power grabs by the EPA, FCC, and NLRB which didn't include actual legislation passed by Congress. There has been tons of new regulation passed on the state and local level as well. The only real deregulations were a partial repeal of Glass-Steagall and the Telecommunications act which both were enacted more then a decade ago.

Please before you post again, actually do some research. Since, the New Deal the regulatory state has grown massively.
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Old 05-26-2013, 01:35 PM   #84
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You may actually want to look up the social structure and government structure of that time period. It has a lot more in common with an anarcho-capitalist state then a Dark Ages monarchy.

So far you are 0 for 2 in actually doing research.
...the fact that you think it is even remotely relevant today is ****ing hilarious.
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Old 05-26-2013, 01:36 PM   #85
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Yes, because Sarbanes-Oxley, Obamacare, and Dodd-Frank were not massively huge regulations. Not to mention the power grabs by the EPA, FCC, and NLRB which didn't include actual legislation passed by Congress. There has been tons of new regulation passed on the state and local level as well. The only real deregulations were a partial repeal of Glass-Steagall and the Telecommunications act which both were enacted more then a decade ago.

Please before you post again, actually do some research. Since, the New Deal the regulatory state has grown massively.
Recite some more GOP talking points dipshit.
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Old 05-26-2013, 01:59 PM   #86
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Recite some more GOP talking points dipshit.
Not talking points. Facts. Nor do I have any love for the GOP who are just another version of authoritarians.

Maybe you should actually stop spouting and swallowing the bullshit that Team Red and Team Blue feed you and actually do some research yourself. Use that brain that you have instead of being a sheep.
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Old 05-26-2013, 02:04 PM   #87
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...the fact that you think it is even remotely relevant today is ****ing hilarious.
It is relevant today. I believe in freedom of the individual, not the chains of the state. The Commonwealth of Iceland is a good example of state that survived, and did survive, longer then the US in as close to anarchy as you can get. Now, I wouldn't go quite so far as the Commonwealth of Iceland but it would look somewhat similar.

Government is an evil and the only moral purpose it has is to defend the rights of its citizens.
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Old 05-26-2013, 02:29 PM   #88
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Seriously, shut the **** up. The trend in regulation since the 80s has been one of deregulation. You are a dipshit.
You're confused.
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Old 05-26-2013, 04:56 PM   #89
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Not talking points. Facts. Nor do I have any love for the GOP who are just another version of authoritarians.

Maybe you should actually stop spouting and swallowing the bullshit that Team Red and Team Blue feed you and actually do some research yourself. Use that brain that you have instead of being a sheep.
It's not my fault if your regulation talking points are identical to the GOP's talking points on regulation.

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It is relevant today. I believe in freedom of the individual, not the chains of the state. The Commonwealth of Iceland is a good example of state that survived, and did survive, longer then the US in as close to anarchy as you can get. Now, I wouldn't go quite so far as the Commonwealth of Iceland but it would look somewhat similar.

Government is an evil and the only moral purpose it has is to defend the rights of its citizens.
Government is not inherently good or evil.

Are you really so clueless that you think a pre-industrial revolution society would work today?
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Old 05-26-2013, 04:57 PM   #90
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You're confused.
You're a parrot.
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