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CEO pay has skyrocketed 1,460% since 1978
(www.epi.org)
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this post was submitted on 14 Sep 2023
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Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
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The CEO is the link between the company and the shareholders.
They get paid by the shareholders to extract as much value as they can from the company to the shareholders.
On the other hand, if the company needs more investment, the CEO is the one who has to attract that investment, too. Otherwise the company will stall or go bankrupt.
A company that makes a 0$ profit and 0$ loss should be considered a successful one. Such a company would manage to pay all its costs (including wages, r&d, etc.) and function at peak efficiency.
I disagree. Some profit is good. It allows you to keep a coffer so you can keep afloat in bad years, as well as to buy back stocks for the employees. Once employee owned any profit can be voted on to either be added to budgets or distributed out amongst the employees.
Year over year growth is completely unsustainable. They should be content with making healthy profits in good times, and making any profit at all during times of recession.
This is the right answer.
Investors are primarily for M&A when brought on late.
Investors brought in early still deserve a day, because it is partially their company.
In the US there's a legal obligation to the shareholders, it's not just as simple as a sick owner culture trumpeting platitudes. To fix this problem we need to address both the culture and the legal frameworks: https://corpgov.law.harvard.edu/2019/02/11/towards-accountable-capitalism-remaking-corporate-law-through-stakeholder-governance/