Costs aren’t rising that much, fortunately. But given Gorrell’s usual penchant for knee-jerk support of the Republican party, I’m surprised that he’s willing to complain about stagnant wages. HIs party has blocked literally every attempt to do anything about it.
Okay, first, wages are slightly up, but not keeping up with inflation. But oddly, corporate profits, and CEO incomes, have far, far, exceeded the rate of inflation. Now corporations holding wages low, and raising prices to increase profits, is a definite “liberal” thing, right??
How on earth could it happen that corporate CEOs and other top officers get treated like movie, music and sports stars? No one HAS to go to the movies, concerts or ball games, so if those people can command their compensation, fine; if someone wants to pay for a ticket, that’s their business.Somewhere back in the 1980’s, this trend toward deifying CEOs began. I vividly recall when then-Pres George H.W. Bush traveled to Japan to lecture our Asian allies about “fair play” and opening up more of the Japanese market to American businesses. (This was the trip when he barfed in the lap of the Prime Minister!) Several corporate leaders insisted on accompanying him, to berate the unfair-playing Japs face to face. At the first sit-down meeting between these corporate honchos, the first thing the Japanese said to their American counterparts was “Your executive salaries are WAY out of line in relation to your companies!” “NO! NO! NO! WE DON’T WANT TO TALK ABOUT THAT!!”This was reported only for a day or so, then disappeared from the newspapers & TV broadcasts..The poster boy in this parade, for me, is Robert Palmer, of Digital Corp. He replaced founder Ken Olsen in 1995, as Digital was rapidly falling behind the competition. He began his tenure making more money than Olsen ever got. The first real action he took was to lay off 10,000 employees. (understandable, when a big company is in trouble) Before the year was out, he laid off ANOTHER 10,000 people, just before Christmas. Official explanation was that they wanted to write off the costs for that year. So , 20,000 workers, who came in and fulfilled their functions every day were deprived of their livelyhood, through no fault of theirs. But here’s the kicker!At the beginning of the next calendar year, Mr. Palmer, who was already being paid big bucks to turn the company around, awarded himself a bonus of $750,000 (big money then). To ensure it was approved by the board, he also awarded many of them bonuses ranging from $100,000 to $300,000! This greedy, pompus #%@+=! screwed not only Digital’s own employees, but stockholders as well. I recall the official press release about the bonuses. “Mr. Palmer showed that he was not afraid to make the hard decisions.” HORSEHOCKEY! Greed, pure & simple, and he got away with it. Over the next two years, he was unable to get Digital competitive again, but he managed to lay off another 40,000 Digital employees. In 1998, he negotiated selling what was left of Digital to Compaq.He got his: Too bad about everyone else. And, he got away with it. .How many more times has this scenario played out?I
GOP is gearing up for the 2016 races by trying to appear more caring of the American Citizenry than the Democrats.A turn about from the last 30+ years.
braindead Premium Member about 9 years ago
Well, more tax cuts for the wealthy!
Rising tides lifts all boats, right?
echoraven about 9 years ago
“Oh, maybe the government should help the Middle Class?”.Given the track record so far…. please stop.
ARodney about 9 years ago
Costs aren’t rising that much, fortunately. But given Gorrell’s usual penchant for knee-jerk support of the Republican party, I’m surprised that he’s willing to complain about stagnant wages. HIs party has blocked literally every attempt to do anything about it.
Dtroutma about 9 years ago
Okay, first, wages are slightly up, but not keeping up with inflation. But oddly, corporate profits, and CEO incomes, have far, far, exceeded the rate of inflation. Now corporations holding wages low, and raising prices to increase profits, is a definite “liberal” thing, right??
moosemin about 9 years ago
How on earth could it happen that corporate CEOs and other top officers get treated like movie, music and sports stars? No one HAS to go to the movies, concerts or ball games, so if those people can command their compensation, fine; if someone wants to pay for a ticket, that’s their business.Somewhere back in the 1980’s, this trend toward deifying CEOs began. I vividly recall when then-Pres George H.W. Bush traveled to Japan to lecture our Asian allies about “fair play” and opening up more of the Japanese market to American businesses. (This was the trip when he barfed in the lap of the Prime Minister!) Several corporate leaders insisted on accompanying him, to berate the unfair-playing Japs face to face. At the first sit-down meeting between these corporate honchos, the first thing the Japanese said to their American counterparts was “Your executive salaries are WAY out of line in relation to your companies!” “NO! NO! NO! WE DON’T WANT TO TALK ABOUT THAT!!”This was reported only for a day or so, then disappeared from the newspapers & TV broadcasts..The poster boy in this parade, for me, is Robert Palmer, of Digital Corp. He replaced founder Ken Olsen in 1995, as Digital was rapidly falling behind the competition. He began his tenure making more money than Olsen ever got. The first real action he took was to lay off 10,000 employees. (understandable, when a big company is in trouble) Before the year was out, he laid off ANOTHER 10,000 people, just before Christmas. Official explanation was that they wanted to write off the costs for that year. So , 20,000 workers, who came in and fulfilled their functions every day were deprived of their livelyhood, through no fault of theirs. But here’s the kicker!At the beginning of the next calendar year, Mr. Palmer, who was already being paid big bucks to turn the company around, awarded himself a bonus of $750,000 (big money then). To ensure it was approved by the board, he also awarded many of them bonuses ranging from $100,000 to $300,000! This greedy, pompus #%@+=! screwed not only Digital’s own employees, but stockholders as well. I recall the official press release about the bonuses. “Mr. Palmer showed that he was not afraid to make the hard decisions.” HORSEHOCKEY! Greed, pure & simple, and he got away with it. Over the next two years, he was unable to get Digital competitive again, but he managed to lay off another 40,000 Digital employees. In 1998, he negotiated selling what was left of Digital to Compaq.He got his: Too bad about everyone else. And, he got away with it. .How many more times has this scenario played out?I
eugene57 about 9 years ago
GOP is gearing up for the 2016 races by trying to appear more caring of the American Citizenry than the Democrats.A turn about from the last 30+ years.