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Old 05-23-2013, 11:14 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 05-28-2013, 08:20 AM   #121
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Originally Posted by GloucesterChief View Post
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.
Cite your evidence. Also, you are completely ignoring the amount of work a employee does while off hours because of technology. Answering phone calls, emails, texts.

Companies might be hiring less people because workers are better trained and educated, with more productive skills. AGain you have completely ignored that part.

If you think it is the MAJOR chunk, prove it with evidence.

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Originally Posted by GloucesterChief View Post

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.
A restaurant does not afford more cooks or servers or bussers because of technology. IF anything, cooking equipment has only become more expensive.

Try again.

And turnover rate is high because the pay sucks.

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Originally Posted by GloucesterChief View Post
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.
So you don't care that the Average American worker is not experiencing the standard of living rise of the last thirty years? Or are you just going to ignore that part? We already discussed technology.

And American workers today are not overpaid compared to developed countries, so your comparison to foreign countries is not factual.


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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.
England's manufacturing was not bombed out. (Hitler almost did it, but after we started bombing cities, Hitler switched to civilian bombing.) Spain manufacturing was not destroyed. Russia was still manufacturing and very high levels.

So, no, that was not the sole reason why we experenced high levels of worker pay. Nor does WW2 ending explain why we kept high levels of pay up until the 1980's

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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.
The top tax rate when Reagan took office was in the upper 70's. He lowered it 39 percent. So yes, we have lower taxes than thirty years ago. Across the Board lower taxes overall.

Find and cite which regulations over the last thirty years have led to the decrease in American pay. Otherwise you are Full of B.S. Specifically name which regulation you are thinking about.

And the U.S. has one of the lowest effective tax rates.

---



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Originally Posted by GloucesterChief View Post

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.
A anti union rant, without discussing the rest of the conclusion or anything else it says.

And you claim you aren't Republican.

Every sentence in that last paragraph of yours is complete GOP propaganda against unions.
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Old 05-28-2013, 08:25 AM   #122
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Nazis? or as you said it, Nazi's. They popularized quotation marks? Guess that makes them German Marks.
No, they popularized quotation marks as used in the above example to attack their opposition. The Third Reich used the quotation mark a lot for this. Examples include Russian "officers"; Jewish "scientists"; Jewish "teacher".

See Victor Klemperer's book Language of the Third Reich for more examples. (Victor was a Jew living in Dresden during the War. He was a literature professor at the university and kept a diary of Nazi language, among other things.) The book is amazing.

http://www.amazon.com/Language-Third.../dp/0826491308
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Old 05-28-2013, 08:26 AM   #123
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Originally Posted by patteeu View Post
It's jealousy to blame CEOs and others who have managed to overcome that trend for it.
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Old 05-28-2013, 08:29 AM   #124
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BTW, jealousy of CEOs was made popular by a different type of Marx.
It's true, because the United States of America is not a third world country by any measure, except, perhaps, income inequality...



... where we rank... (list scrolls down) blabliddyblabliddyblabliddy... worse than the Ivory Coast, worse than Cameroon... 64th!



Ahh! In your face, Uruguay, Jamaica, and Uganda!

http://www.thedailyshow.com/watch/th...-conservatives
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Old 05-28-2013, 08:36 AM   #125
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It's true, because the United States of America is not a third world country by any measure, except, perhaps, income inequality...
What's true? That you are inspired by Marx?
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Old 05-28-2013, 08:38 AM   #126
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Speaking of Nazi's, another technique they used was demonizing a group of haves so the have nots would have someone to blame for their problems. Sounds familiar.
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Old 05-28-2013, 01:34 PM   #127
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You haven't pointed out anything except for your own parroting of the same thing over and over without addressing anything posted.
There really isn't anything to address other than the massive butthurt spewing from you, KC Native and gblowfish. It's a common refrain from people who aren't willing to accept responsibility for their own successes and failures.
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Old 05-29-2013, 07:09 AM   #128
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Speaking of Nazi's, another technique they used was demonizing a group of haves so the have nots would have someone to blame for their problems. Sounds familiar.
You mean like every political group since forever?
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Old 05-29-2013, 07:12 AM   #129
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Originally Posted by listopencil View Post
There really isn't anything to address other than the massive butthurt spewing from you, KC Native and gblowfish. It's a common refrain from people who aren't willing to accept responsibility for their own successes and failures.
Explain why the massive amount of wealth transferred into the top percent is based off of their own hard work. Explain why wage stagnation is because workers aren't accepting responsibility, especially since productivity has gone up.




Last edited by Loneiguana; 05-29-2013 at 07:22 AM.. Reason: added another picture
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Old 05-29-2013, 07:23 AM   #130
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Speaking of Nazi's, another technique they used was demonizing a group of haves so the have nots would have someone to blame for their problems. Sounds familiar.
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Old 05-29-2013, 07:57 AM   #131
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You mean like every political group since forever?
No, I mean like the Nazis, the various socialist and communist parties around the world, and the democrats.
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Old 05-29-2013, 03:21 PM   #132
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There really isn't anything to address other than the massive butthurt spewing from you, KC Native and gblowfish. It's a common refrain from people who aren't willing to accept responsibility for their own successes and failures.
Clown shoes. I gave a very good reason to be concerned about out sized CEO compensation. In your little mind, you chalked that up to jealousy. Get a clue.
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Old 05-29-2013, 03:36 PM   #133
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Wealth IS an finite resource. By hoarding it at the top, everyone else does worse.


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Old 05-30-2013, 12:31 AM   #134
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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.
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Old 05-30-2013, 01:23 AM   #135
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Clown shoes. I gave a very good reason to be concerned about out sized CEO compensation. In your little mind, you chalked that up to jealousy. Get a clue.
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.
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