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Krispy Kreme to Pay New CEO $760/Hour
- Thread starter Funky Papa
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Days like these...
Have a Blessed Day
That figure sounds stupid. Anyway executives are salaried or at least they should be
Hurricane_Chris
DDK
Being a CEO is hard, I'm pretty sure I wouldn't be able to deal with the stress. But should their salary be THAT many times higher than that of normal workers? Isn't it Ben and Jerry's that has a cap on CEO salary? Something like it can't be more than 75x the salary of the company's lowest paid worker or something like that? I think I remember reading it about them, when they were having trouble finding a qualified CEO who would accept such a low salary...
Days like these...
Have a Blessed Day
keiichi said:Wait... are you saying that you're happy that he isn't making 1000+ per hour OT just because he's salaried? I'm sure whatever stock incentives they give him will make him feel better about it.
I might be bitter because I'm salaried and don't get paid OT
No I'm just saying it sounds odd. it's a strange way of stating what he is getting paid. We're all out there grindin' more power to him wish i was making that much
Here's an interesting article on soaring CEO compensation (and the larger issue of our runaway economic stratification) and its social effects.
Needless to say, I don't agree with everything on that website (after all, I've never been called a "radical leftist"), but this is pretty much spot-on imo.
Needless to say, I don't agree with everything on that website (after all, I've never been called a "radical leftist"
), but this is pretty much spot-on imo.McLesterolBeast
Member
If this is a situation like most, he isn't some guy on the inside who's sucking the shareholders dry. He was employed for a salary that roughly what they expect he'll bring to the table. Often the "ROC" (return on ceo ) is intangible. They make crucial decisions all the time and the corporation is banking on the probability of him making the best decisions - which in this case has justified the given salary.
The decision to employ him for that given wage is what the board of directors determined to be in the best interest of shareholders. That is the criteria by which they judge an acquisition/contract, unless there's some serious shady business going on (which doesnt seem to be the case here).
) is intangible. They make crucial decisions all the time and the corporation is banking on the probability of him making the best decisions - which in this case has justified the given salary.The decision to employ him for that given wage is what the board of directors determined to be in the best interest of shareholders. That is the criteria by which they judge an acquisition/contract, unless there's some serious shady business going on (which doesnt seem to be the case here).
Fixed2BeBroken
Member
Fresh Krispy Kreme Donuts >>>>>>>>>>>>>>>>>>>> any other donuts.
Vinzer Deling
Banned
I wonder how rich Thurston Howell III is.
Fresh Prince
Banned
To those saying that such a salary is somewhat justified since of the importance and risk of the job- How come they get paid vast amounts when they get the golden handshake for doing an inadequate job?
Thanks
Thanks
Vinzer Deling
Banned
Tyco, Enron, WorldCOM... remember those guys?
Abba:
That's a somewhat spurious argument that's typically advanced by pro-business types. Now, it may or may not be the case here (I dunno), but I'd advise you to check out this pdf for a critique of current CEO compensation schemes as well as prevailing corporate policy (such as oversight and internal regulation of such compensation) in these matters.
I'm not interested in a debate on this; I just wanted to get something from the "other" side out there.
That's a somewhat spurious argument that's typically advanced by pro-business types. Now, it may or may not be the case here (I dunno), but I'd advise you to check out this pdf for a critique of current CEO compensation schemes as well as prevailing corporate policy (such as oversight and internal regulation of such compensation) in these matters.
I'm not interested in a debate on this; I just wanted to get something from the "other" side out there.
The Faceless Master
Member
i thought that $760/hr was kind of low for a CEO of a huge company... i was thinking it would be alot more...
in case you guys aren't aware, their new CEO is actually a consultant from a major management consulting firm. Hence the hourly wage. It's not really that big. I remember back at the peak of the economic boom for IT guys were doing consulting work at $500 an hour. And these were people only 2-3 years out of college.
edit: And yes, the CEO will have to fill out a timesheet and submit it just like every other consultant.
edit: And yes, the CEO will have to fill out a timesheet and submit it just like every other consultant.
McLesterolBeast
Member
It's not an argument. It's an explanation. Within the system of laws that we have coupled with the prevailing status quo, that level of CEO compensation is (assuming no fraud) in the interest of shareholders. Whether lower level of CEO compensation would be in the interest of society as a whole has nothing to do with that.
Escape Goat
Member
MIMIC said:
:lol
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