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blue_gold_84 Grand Master

blue_gold_84

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Posted

http://www.cbc.ca/news/business/ceo-income-pay-canadian-worker-1.4462496

Quote

Shortly before 11 a.m. today, the average top-earning CEO in Canada will have already earned — in less than one work day — what the average worker makes in an entire year, says a new study.

...those corporate executives had a stellar year. Their average annual compensation hit a record $10.4 million — that's more than 200 times an average worker's salary of $49,738, says the report.

 

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blue_gold_84
blue_gold_84

Shell: $9.1B (https://www.cnbc.com/2022/05/05/shell-earnings-q1-2022.html) [highest quarterly profit since 2008] It's not inflation. It's not the Russian invasion of Ukraine. It's not the carbon

Wanna-B-Fanboy
Wanna-B-Fanboy

Kind of big news...    

JCon
JCon

Tax the churches. 

blue_gold_84 Grand Master

blue_gold_84

Posted
Posted
3 minutes ago, The Unknown Poster said:

Thats ok.  In the US, the corporations are taking their tax savings under the Trump Tax Bill and giving all the money to workers.  hahahahah yeah right.

It's all about making Murica great again. :lol:

Seriously, though... It's insane how much these CEOs make and then even more insane when compared to the average joe.

The Unknown Poster Newbie

The Unknown Poster

Posted
Posted
4 minutes ago, blue_gold_84 said:

It's all about making Murica great again. :lol:

Seriously, though... It's insane how much these CEOs make and then even more insane when compared to the average joe.

Yup.  I totally appreciate the idea of compensation for meeting successes.  But why not provide more of that to your workers?  I have a friends who work for  banks and they had some nice perks (the usual free accounts etc) but also bonuses.  Even the front line staff got nice bonuses (like Thousands, not hundreds).  And even that is a drop in the bucket for a bank.

The joke about US companies is ofcourse, people using the examples of some corporations giving extra bonuses to their staff to "pass on the tax savings".  But thats a one time thing that is clearly meant to boost the tax bill.  If the companies were serious, they'd pass on the savings with permanent raises in salary.

But then we star to dovetail into a discussion of minimum wages and should a Burger King worker get $15/hour etc.

Mark F Grand Master

Mark F

Posted
Posted (edited)

in the fifties and sixties, many people in North America could have a decent standard of living on one income.

all the statistics show that most of any gains since the seventies here, have gone to the upper level, while lower level people's compensation is stagnant or actually going down as a percentage of the whole.

Quote

When it comes to the pace of annual pay increases, the top 1% wage grew 138% since 1979, while wages for the bottom 90% grew 15%.

Middle-class wages are stagnant—Middle-wage workers’ hourly wage is up 6% since 1979, low-wage workers’ wages are down 5%, while those with very high wages saw a 41% increase

Economic Policy Institute.

Edited by Mark F
Mark F Grand Master

Mark F

Posted
Posted

I think part of the problem is bonsuses.... far too high, and makes a temptation for decisions to be made based on how much bonus you get, when it should be made based on long term stability and success of the business.

Best example last decade is the Wall street failure of 2008. People made billions in bonuses doing deals that they knew would fail. Did not have to pay back a penny.

 

The Unknown Poster Newbie

The Unknown Poster

Posted
Posted
6 minutes ago, Mark F said:

I think part of the problem is bonsuses.... far too high, and makes a temptation for decisions to be made based on how much bonus you get, when it should be made based on long term stability and success of the business.

Best example last decade is the Wall street failure of 2008. People made billions in bonuses doing deals that they knew would fail. Did not have to pay back a penny.

 

Thats very true.  And sort of an odd model.  I get a small bonus based on my targets being met as well as corporate targets.  But it doesnt make me work harder.  I dont know anyone that works harder because of their bonus and most people I know work in an environment where its hard to miss your bonus.  I guess its part of the "pay packet" mentality but arent you hiring your executives to be successful?  The multi-million dollar bonus is offensive.

I recall my company had a year where they did 0% wage increases, arguing "recession".  The CEO only got a few million that year.  People were pissed. 

Jacquie Newbie

Jacquie

Posted
Posted
2 hours ago, The Unknown Poster said:

Yup.  I totally appreciate the idea of compensation for meeting successes.  But why not provide more of that to your workers?  I have a friends who work for  banks and they had some nice perks (the usual free accounts etc) but also bonuses.  Even the front line staff got nice bonuses (like Thousands, not hundreds).  And even that is a drop in the bucket for a bank.

The joke about US companies is of course, people using the examples of some corporations giving extra bonuses to their staff to "pass on the tax savings".  But thats a one time thing that is clearly meant to boost the tax bill.  If the companies were serious, they'd pass on the savings with permanent raises in salary.

But then we star to dovetail into a discussion of minimum wages and should a Burger King worker get $15/hour etc.

Or by not laying off thousands of employees like AT&T is doing.

Atomic Experienced

Atomic

Posted
Posted
3 hours ago, Mark F said:

in the fifties and sixties, many people in North America could have a decent standard of living on one income.

all the statistics show that most of any gains since the seventies here, have gone to the upper level, while lower level people's compensation is stagnant or actually going down as a percentage of the whole.

Economic Policy Institute.

I know the Manitoban minimum wage has almost doubled in the last 15 years so that doesn't really hold water here.  I understand the pace of minimum wage growth in the States has been much smaller so that's where a lot of that probably comes from.

FrostyWinnipeg Grand Master

FrostyWinnipeg

Posted
Posted
37 minutes ago, Atomic said:

I know the Manitoban minimum wage has almost doubled in the last 15 years so that doesn't really hold water here.  I understand the pace of minimum wage growth in the States has been much smaller so that's where a lot of that probably comes from.

And in places like OK you can be paid less then min wage if you under 18.

Atomic Experienced

Atomic

Posted
Posted
Just now, FrostyWinnipeg said:

And in places like OK you can be paid less then min wage if you under 18.

Yeah I also heard of a law in some state where they can pay you less than minimum wage if you don't work 40 hours a week, so some unscrupulous business owners were making 39.5 hour schedules for their employees.  I don't know if that is still a law.

The Unknown Poster Newbie

The Unknown Poster

Posted
Posted
5 minutes ago, Atomic said:

Yeah I also heard of a law in some state where they can pay you less than minimum wage if you don't work 40 hours a week, so some unscrupulous business owners were making 39.5 hour schedules for their employees.  I don't know if that is still a law.

That happens here to avoid providing benefits, I know that. 

Im not sure Im against a "student" minimum wage where you'd make less than an adult.  I guess if employers abuse it.  Then again, if you're doing the same job, you should get the same pay.  I guess the argument would be that a business might be more likely to hire X number of students for more menial work and to "contribute to the community" if it doesnt cost them as much.  Maybe a better option would be a payroll tax credit for hiring students/young people.

Rich Mentor

Rich

Posted
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Posted

http://www.cbc.ca/beta/news/business/tim-horton-s-tims-timmies-doubledouble-minimum-wage-ontario-kathleen-wynne-labour-1.4470215

Quote

Employees at an Ontario Tim Hortons owned by the children of the chain's founders say they have been told to sign a document acknowledging they are losing paid breaks, paid benefits, and other incentives as a result of the province's minimum wage hike.

"I feel that we are getting the raw end of the stick," said one front line employee who asked to remain anonymous out of fear of losing their job. 

 

iHeart Grand Master

iHeart

Posted
Posted
2 minutes ago, FrostyWinnipeg said:

Basically KP Target all over again.

not entirely true Winners isn't in the same lot as the mall. besides Homesense is already in Target's former area, kind of makes me wonder what will go in the Sears area. I hope a Rocky Mountain Chocolates is one of them....we need an ice cream place there

FrostyWinnipeg Grand Master

FrostyWinnipeg

Posted
Posted (edited)
29 minutes ago, iHeart said:

not entirely true Winners isn't in the same lot as the mall. besides Homesense is already in Target's former area, kind of makes me wonder what will go in the Sears area. I hope a Rocky Mountain Chocolates is one of them....we need an ice cream place there

JCP, Kohls? Heck, bring back HBC.

Edited by FrostyWinnipeg
JCon Grand Master

JCon

Posted
Posted
1 minute ago, The Unknown Poster said:

This is as random as it gets but I stumbled across this tweet today. I was fortunate to have visited the experience before it closed. Anyone else? It was really really great. 

 

I saw it too.

 

Buddies and I did a road trip to Vegas and LA in 1998. The one thing they wanted, was to go to the Hilton to see this.

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