These companies paid their employees a median wage of $31,672 in 2022, while their CEOs took home an average $15.3m
Disgusting.
A good reason to have laws regulating the maximum pay gap between executive and the lowest paid peon. And make sure to include all types of pay like stock options so companies can’t squirm out of it.
I’m ok with this, but it’s essentially just a step toward socialism which is the better option (but will never happen). Because all this will do is make CEOs less wealthy from the company itself. The investors still make tons more than the CEOs already and they don’t do anything. You need to force revenue sharing essentially which is just socialism with extra steps. Cause CEOs will just end up investing in other companies and still be wealthy and get less compensation from the company itself.
I mean, it’s a pretty big step. It would basically make it such that a company has to expand it’s footprint to grow revenue.
No, for investors to grow revenue it would. Which was the whole initial concept of owning the means of production. You invest in what you thought would make money. You didn’t invest because you wanted to take away employee’s earned value to yourself. But that’s what it came to. A majority of inflation is profit-driven related. Not government assistance related like many corporations and conservatives want you to think. Aside from that, any overt success is shared amongst everyone and no increase would be offset by normal COLA through the supply chain. People could survive and thrive without having to gut the value of employees or those in the supply chain. The only issue would be loss of business which is always a risk. But losses can be shared equally or if it’s a large enough loss over a long enough time, it would require some folks to be laid off and depending on why, the employees could put the person running the business.
Exactly. Increasing pay would be really, really nice. But we can do that and have more control over our workplaces. Worker owned companies would prevent huge disparities in pay from reoccurring, regardless of what the government does.
Like a wise and angry man once said: “Fuck the G rides, I want the machines that are making them.”
I don’t think the point is for them to be less wealthy, the point is you shouldn’t make more than 600 times what half your employees make.
I know. But investors don’t care. They’re the root of the problem. CEOs are simply an employee of the company that ultimately represents the shareholders interest. Affecting their pay does not affect shareholder value that much. It just commoditizes the CEO position.
That’s just bringing down the top without helping anyone. Need to lift from the bottom instead
Sounds great, and sure might as well pass it, but there’s a lot of ways to get around it
- Shell companies
- TC in stock/bonuses
- Outsourcing to contractors
- Utilizing foreign jurisdictions
The point is that if max pay gap laws are passed, CEOs will just hide their actual pay in external resources and normal employees will still make exactly the same.
Because this is America and if you make rules like that you’ll crush the American Dream tm and no one will want to work at all because you’ve taken away their ability to daydream about one day being the disgustingly rich person doing the trickling instead of the disgustingly poor person waiting to be trickled on.
Here’s the list of top 100 ‘low-wage’ US firms that are fucking over their employees (listed in the full ‘Institute for Policy Studies’ report):
Lowe’s
Home Depot
Walmart
S&P Global
Linde Plc
Autozone
O’Reilly Automotive
Nike
Target
Dollar General
Analog Devices
Sherwin-Williams
McDonald’s
Mondelez Intl
Amazon.com
TJX
MGM Resorts Intl
Best Buy
Starbucks
Kroger
Johnson Controls
Seagate Technology
Colgate-Palmolive
Philip Morris Intl
Marriott Intl
Cognizant Tech
Solutions
Fleetcor Technologies
FedEx
Estee Lauder
TE Connectivity
Domino’s Pizza
Constellation Brands
YUM Brands
Ulta Beauty
Coca-Cola
Stanley Black &
Decker
Mosaic
Ross Stores
Hilton Worldwide
Bath & Body Works
Corning
Becton Dickinson & Co
Amphenol
Dollar Tree
Tractor Supply
Tapestry
Whirlpool
LKQ
Skyworks Solutions
Advance Auto Parts
Carrier Global
Amcor Plc
Assurant
Darden Restaurants
Walgreens Boots
Alliance
Costco Wholesale
Chipotle Mexican Grill
Mohawk Industries
Microchip Technology
DXC Technology
ON Semiconductor
Hershey
Kimberly-Clark
Ralph Lauren
Tyson Foods
Wabtec
Baxter Intl
Align Technology
Smith (A.O.)
VF
Robert Half Intl
Genuine Parts
Avery Dennison
Kraft Heinz
Borgwarner
Factset Research
Systems
PPG Industries
Newell Brands
Fastenal
Carnival
Viatris
Live Nation
Entertainment
Wynn Resorts
Garmin
Cooper Cos
Extra Space Storage
Aptiv
Mccormick & Co
Epam Systems
Royal Caribbean
Group
Norwegian Cruise Line
Iron Mountain
AES
Teleflex
Western Digital
Caesars Entertainment
Copart
Las Vegas Sands
Monolithic Power
Systems
Public Storage
Hey my company is on this list. Can confirm it fucking sucks. Where did you source this from?
The article is about a new report from the Institute for Policy Studies which identifies the top 100 ‘low-wage’ US firms. The full report is linked from the article to here: https://ips-dc.org/report-executive-excess-2023/ , I opened the PDF and pulled out the full list.
They are not only fucking over their employees. They’re fucking over all tax payers and straining the countries they are allowed to operate in, while funneling those dollars to top executives and shareholders.
These companies rely on social programs like welfare and food stamps to support their front line staff. They drain those programs for their own profits, and leave the governments less able to help their people. This is vampire capitalism.
Why is epam on this list? They charge more than most other contracting firms
I’m sure this is even less awful than the disparity with Big Lots employees and employers. Store managers make 100k a year, most employees are making less than 15 an hour. Absolutely the worst conditions and employment terms of any retail I’ve ever worked.
Which side of the fence are you putting store managers on? At a minimum that’s $48 an hour (or a little over $3 for every $1 by the lower employee), but it’s likely worse than that as often store managers work more than 40 hours a week and are not allowed overtime, so their pay doesn’t change. Just saying I can’t tell based on your wording if you think the gap between managers and employees is a problem, as I guess it’s debatable, but definitely nowhere near the numbers above. So just wondering if you could clarify your point a bit.
Ugh. I forgot to apply for the CEO position again!