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Old 05-23-2013, 10:14 AM  
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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, 05:14 PM   #91
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Do you have an excuse that isn't retarded?
So now people have to make excuses to keep their own money. Nice. Do you have any moments when you're not a whiny, jealous, self-entitled bitch?
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Old 05-26-2013, 06:36 PM   #92
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Old 05-27-2013, 05:36 PM   #93
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It's not my fault if your regulation talking points are identical to the GOP's talking points on regulation.
That is blind squirrels and nuts. The GOP favors regulations and subsidies too. Just to different groups.

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Government is not inherently good or evil.

Are you really so clueless that you think a pre-industrial revolution society would work today?
Government is inherently evil because government is plain naked force. We would call anybody evil who used force to get their way, government is no different even when elected by the populace.

The root of the system is based on contracts. You contract with an authority figure to represent you. The authority figures competed for clients since that was there job. It shows that a stateless society can work and has worked for longer then the US has been in existence. Just because we have factories now doesn't mean the system can't work. The government we had during the Industrial Revolution was actually quite small compared to the monstrosity we have today.
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Old 05-27-2013, 05:47 PM   #94
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Originally Posted by GloucesterChief View Post
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.
First, The productivity increase didn't solely come from technology and advances. It is chunk, but not the complete story. You have to account for increase in worker skill and education. Also, an increase in off hours work because of the technology - email, cellphones and texting. You have an increase in overall hours as well.

Second, you have to look at productivity from service workers that aren't easily replaced by investments in technology (or whatever you want to call it).

Third, from this article http://www.epi.org/publication/ib330...-compensation/ :
"The divergence in prices of consumption spending and other parts of GDP (business investment, government investment, exports and imports) can be viewed in two different ways. One way is to dismiss the divergence as a technical difference and to treat the associated productivity-pay gap as unimportant and uninteresting. The second view is to note that the widely held and articulated assumption that gains in labor productivity translate into improvements in living standards implies that these two price series—consumption and output— must converge in the long run. Given that this convergence has not occurred for several decades, the second view suggests that productivity is not translating fully into improved living standards, and the divergence between consumption prices and output prices represents another mechanism by which workers are not benefiting from economic growth. Rather than dismiss or set aside this terms-of-trade factor that accounts for about a third of the growth of the productivity-median compensation gap, it deserves serious inquiry and a full explanation. Unfortunately, little research has been done in this area. Saying that changing terms of trade drives the productivity-pay gap is really more of a description than an explanation. Regardless of the cause, the implication is that the “typical” worker is not benefiting fully from productivity growth

Fourth, the simplistic view that the rest of the world was "bombed out" and not competing with the U.S is not factually correct. Other countries experiences a post war boom as well.

Firth, the U.S. currently has lower taxes and less regulation than thirty years ago.

---

More info from the article:

Conclusion
Productivity growth has frequently been labeled the source of our ability to raise living standards. This is sometimes what is meant by the call to improve our “competitiveness.” In fact, higher productivity is an important goal, but it only establishes the potential for higher living standards, as the experience of the last 30 or more years has shown. Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent, and nearly all of that growth occurred in a short window in the late 1990s. The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity. Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt. It is hard to see how reestablishing a link between productivity and pay can occur without restoring decent and improved labor standards, restoring the minimum wage to a level corresponding to half the average wage (as it was in the late 1960s), and making real the ability of workers to obtain and practice collective bargaining.
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Old 05-27-2013, 05:50 PM   #95
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Originally Posted by listopencil View Post
So now people have to make excuses to keep their own money. Nice. Do you have any moments when you're not a whiny, jealous, self-entitled bitch?
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Old 05-27-2013, 05:50 PM   #96
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That is blind squirrels and nuts. The GOP favors regulations and subsidies too. Just to different groups.



Government is inherently evil because government is plain naked force. We would call anybody evil who used force to get their way, government is no different even when elected by the populace.

The root of the system is based on contracts. You contract with an authority figure to represent you. The authority figures competed for clients since that was there job. It shows that a stateless society can work and has worked for longer then the US has been in existence. Just because we have factories now doesn't mean the system can't work. The government we had during the Industrial Revolution was actually quite small compared to the monstrosity we have today.
fringe lunatic is fringe lunatic.
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Old 05-27-2013, 05:57 PM   #97
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Originally Posted by GloucesterChief View Post

Government is inherently evil because government is plain naked force. We would call anybody evil who used force to get their way, government is no different even when elected by the populace.

The root of the system is based on contracts. You contract with an authority figure to represent you. The authority figures competed for clients since that was there job. It shows that a stateless society can work and has worked for longer then the US has been in existence. Just because we have factories now doesn't mean the system can't work. The government we had during the Industrial Revolution was actually quite small compared to the monstrosity we have today.

Government is not inherently evil. Government came into existence because people wanted to settle down into agriculture societies instead of hunter/gathers society. One big reason was the ability to collect stuff, instead of only owning what you can carry. These cities, just like tribes, requires leadership and someone in charge.

Without government, society is not possible, without society, we would be living like hunter gathers. Government is no more evil than a gun. It is a thing used by people.

We can disagree on what type of government. We can debate whether it is currently working right now. We can debate the size of the government, but the government is evil is pure GOP propaganda.

/both sides are bad so vote republican, right?
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Old 05-27-2013, 06:12 PM   #98
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Swing and a miss. I'm not a Republican. I'm just pointing out that you're a whiny jealous bitch that blames successful people for the failures of unsuccessful people.
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Old 05-27-2013, 06:14 PM   #99
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First, The productivity increase didn't solely come from technology and advances. It is chunk, but not the complete story. You have to account for increase in worker skill and education. Also, an increase in off hours work because of the technology - email, cellphones and texting. You have an increase in overall hours as well.
I would imagine it is a very large chunk since what would be in 1979 a full clerical and records department can now be handled by a few DBAs and software. Productivity per worker soars since instead of employing 20, you are employing three or four. Those three or four are earning pretty good paychecks but since their productivity is the akin to 5 employees their pay isn't the same. It skews the numbers.

Quote:
Second, you have to look at productivity from service workers that aren't easily replaced by investments in technology (or whatever you want to call it).
Companies can afford more service workers because of technology. They have to invest less in other areas and can afford more in customer facing agents. These agents are paid less because they require no special skills and the turnover rate is rather high.

Quote:
"The divergence in prices of consumption spending and other parts of GDP (business investment, government investment, exports and imports) can be viewed in two different ways. One way is to dismiss the divergence as a technical difference and to treat the associated productivity-pay gap as unimportant and uninteresting. The second view is to note that the widely held and articulated assumption that gains in labor productivity translate into improvements in living standards implies that these two price series—consumption and output— must converge in the long run. Given that this convergence has not occurred for several decades, the second view suggests that productivity is not translating fully into improved living standards, and the divergence between consumption prices and output prices represents another mechanism by which workers are not benefiting from economic growth. Rather than dismiss or set aside this terms-of-trade factor that accounts for about a third of the growth of the productivity-median compensation gap, it deserves serious inquiry and a full explanation. Unfortunately, little research has been done in this area. Saying that changing terms of trade drives the productivity-pay gap is really more of a description than an explanation. Regardless of the cause, the implication is that the “typical” worker is not benefiting fully from productivity growth
Or American workers had an inflated pay due to the lingering effects of the post WWII economy. Once foreign competition came back into play, the payment for workers corrected. The computer age also drove the pay and productivity disparity since a person can have the productivity of several due to technology.

Quote:
Fourth, the simplistic view that the rest of the world was "bombed out" and not competing with the U.S is not factually correct. Other countries experiences a post war boom as well.
Other countries experience a post war boom because there were plenty of jobs available to rebuild the bombed out countries. In this case the boom didn't mean that the countries were exporting. They weren't. They were rebuilding using materials and products from the US because the US was the only country with the capacity to be able to not only satisfy demand in the home country but also export. Germany, Italy, Britain, and Japan took decades before they really started exporting.

Quote:
Firth, the U.S. currently has lower taxes and less regulation than thirty years ago.
This is not only wrong. It is stupidly wrong. True a few industries have been deregulated. Most have seen regulation grow at a frightening pace and all corporations have had massive regulation put on them by SOX and who knows what stupidity Dodd-Frank will do.

The US corporate tax rate is one of the highest in the world.
---

Quote:
More info from the article:

Conclusion
Productivity growth has frequently been labeled the source of our ability to raise living standards. This is sometimes what is meant by the call to improve our “competitiveness.” In fact, higher productivity is an important goal, but it only establishes the potential for higher living standards, as the experience of the last 30 or more years has shown. Productivity in the economy grew by 80.4 percent between 1973 and 2011 but the growth of real hourly compensation of the median worker grew by far less, just 10.7 percent, and nearly all of that growth occurred in a short window in the late 1990s. The pattern was very different from 1948 to 1973, when the hourly compensation of a typical worker grew in tandem with productivity. Reestablishing the link between productivity and pay of the typical worker is an essential component of any effort to provide shared prosperity and, in fact, may be necessary for obtaining robust growth without relying on asset bubbles and increased household debt. It is hard to see how reestablishing a link between productivity and pay can occur without restoring decent and improved labor standards, restoring the minimum wage to a level corresponding to half the average wage (as it was in the late 1960s), and making real the ability of workers to obtain and practice collective bargaining.
Yeah, this conclusion is dumb. First private sector unions are dying because they do nothing for skilled workers except take from their paychecks in union dues. Hourly compensation is also covering a declining amount of workers as they become salaried or work on contract. Collective bargaining will do nothing since workers can bargain for themselves and as seen in Wisconsin, a majority of workers don't join unions unless you force them too.
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Old 05-27-2013, 06:20 PM   #100
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fringe lunatic is fringe lunatic.
Yep. Lets compare.

How many people have corporations killed?
How many of their own citizens* have governments killed?

I wonder why you trust someone who has to convince you to give them your property less then someone who points a gun at you to force you to give them your property.

I know I sure don't.

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*To make it a little more fair, we won't consider people that governments have killed that weren't their own citizens.
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Old 05-27-2013, 06:40 PM   #101
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Swing and a miss. I'm not a Republican. I'm just pointing out that you're a whiny jealous bitch that blames successful people for the failures of unsuccessful people.
I find it amusing when this happens to me. You seem to have it happen often also. I have been called a neocon, right wing nut case, libtard, and a moonbat liberal if you don't agree with some of these people they just start throwing out labels~
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Old 05-27-2013, 07:09 PM   #102
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I find it amusing when this happens to me. You seem to have it happen often also. I have been called a neocon, right wing nut case, libtard, and a moonbat liberal if you don't agree with some of these people they just start throwing out labels~
It's particularly funny from loneiguana since he often pastes stories from biased left wing sources.
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Old 05-27-2013, 07:19 PM   #103
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I find it amusing when this happens to me. You seem to have it happen often also. I have been called a neocon, right wing nut case, libtard, and a moonbat liberal if you don't agree with some of these people they just start throwing out labels~
When you agree with 99% of the GOP platform, it's pretty safe to say that you are a republican hardcore grandpa.
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Old 05-27-2013, 07:23 PM   #104
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Yep. Lets compare.

How many people have corporations killed?
How many of their own citizens* have governments killed?

I wonder why you trust someone who has to convince you to give them your property less then someone who points a gun at you to force you to give them your property.

I know I sure don't.


Let's ignore the work place atrocities that led us to have labor laws.

Also, it's not about trust. It's about functioning in reality. You are off on your own planet. It would be awesome if we could go the anarchy route. Unfortunately for you, it's impossible to do at this point in human existence.
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Old 05-27-2013, 07:38 PM   #105
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When you agree with 99% of the GOP platform, it's pretty safe to say that you are a republican hardcore grandpa.
same trying to start shit little ****head you have always been. You either cannot read or you need to make wild accusations to make yourself feel important
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David Ormsby Gore~
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RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.
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