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Topics => Economy => Topic started by: jpatrickham on October 24, 2011, 10:55:37 AM

Title: Monday Brief: Why the Anger at CEO's?
Post by: jpatrickham on October 24, 2011, 10:55:37 AM
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Brief ยท October 24, 2011

 
The Foundation

Quote
       
"I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it."
--Benjamin Franklin

For the Record


Quote
Gaga, Woods and Oprah -- not exactly living in the poor house"According to Forbes' Celebrity 100 list for 2010, Oprah Winfrey earned $290 million. Even if her makeup person or cameraman earned $100,000, she earned thousands of times more than that. Is that fair? Among other celebrities earning hundreds or thousands of times more than the people who work with them are Tyler Perry ($130 million), Jerry Bruckheimer ($113 million), Lady Gaga ($90 million) and Howard Stern ($76 million). According to Forbes, the top 10 celebrities, excluding athletes, earned an average salary of a little more than $100 million in 2010. According to The Wall Street Journal Survey of CEO Compensation (November 2010), Gregory Maffei, CEO of Liberty Media, earned $87 million, Oracle's Lawrence Ellison ($68 million) and rounding out the top 10 CEOs was McKesson's John Hammergren, earning $24 million. It turns out that the top 10 CEOs have an average salary of $43 million, which pales in comparison with America's top 10 celebrities, who earn an average salary of $100 million. When you recognize that celebrities earn salaries that are some multiples of CEO salaries, you have to ask: Why is it that rich CEOs are demonized and not celebrities? ... It's not about the amount of money people earn. If it were, politicians and leftists would be promoting jealousy, fear and hate toward multimillionaire Hollywood and celebrities and sports stars, such as LeBron James ($48 million), Tiger Woods ($75 million) and Peyton Manning ($38 million). But there is no way that politicians could take over the roles of Oprah Winfrey, Lady Gaga and LeBron James. That means celebrities can make any amount of money they want and it matters not one iota politically. The Occupy Wall Street crowd shouldn't focus its anger at wealthy CEOs. A far more appropriate target would be the U.S. Congress."
--economist Walter E. Williams

Essential Liberty
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: Libertas on October 24, 2011, 11:22:15 AM
I like the point such articles raise, but making the assumption that the people protesting can read or that the people cheering them on care about the truth means there are large segments of the population beyond rational human reasoning as we understand it.

This ilk and their enablers will ultimately be swayed (or crushed) by other methods of persuasion.

It is their fate.
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: jpatrickham on October 24, 2011, 11:39:19 AM
Quote
"I like the point such articles raise, but making the assumption that the people protesting can read or that the people cheering them on care about the truth means there are large segments of the population beyond rational human reasoning as we understand it."


It's enough to make one want to fortify their Living Quarters. Say, park a Battleship in the front yard? ::thumbsup::

Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: Libertas on October 24, 2011, 11:58:05 AM
Heck, if I had a battle ship!

 ::whoohoo::
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: jpatrickham on October 24, 2011, 12:39:37 PM
Heck, if I had a battle ship!

 ::whoohoo::


Yep! Me too! ::whoohoo::
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: AlanS on October 24, 2011, 05:41:28 PM
Heck, if I had a battle ship!

 ::whoohoo::

According to my wife, it's not in the budget. I'll have to keep an eye out on the black market after the SHTF. Probably get a real deal on Chinese hardware.
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: Damn_Lucky on October 24, 2011, 06:50:40 PM
$hit in a few months........we'll all be poor!
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: Pandora on October 24, 2011, 07:13:55 PM
Depends how one defines "poor".  In reasonable health, able to use a lifetime of skills and knowledge, friends, family and even a small community, and willing to work -- strikes me as having all the assets one requires.
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: AlanS on October 24, 2011, 08:53:29 PM
Depends how one defines "poor".  In reasonable health, able to use a lifetime of skills and knowledge, friends, family and even a small community, and willing to work -- strikes me as having all the assets one requires.

That rules out many urban clans.
Title: Re: Monday Brief: Why the Anger at CEO's?
Post by: Pandora on October 24, 2011, 09:00:48 PM
Depends how one defines "poor".  In reasonable health, able to use a lifetime of skills and knowledge, friends, family and even a small community, and willing to work -- strikes me as having all the assets one requires.

That rules out many urban clans.

Absolutely.  And as they are poor, they will die in and from their poverty.