She also made $29,000,000 in 2022 for herself, cause she worked so hard and made so many cars herself. Ha
Keep these CEO memes coming. These assholes need to have a spotlight shown on them. A company is not a person, a company is ran by people.
They’re laughing all the way to the bank. The have not one care for what you or I think of them
They do if we threaten their pockets or their lives.
Historically, which one is targeted is their choice.
Seriously, a lot of CEOs and most managers could be much more easily replaced by AI than the workers. Run some analysis on some metrics lay off people based on that. Go over the market analytics, direct staff to work on derivative versions of the products that have good numbers, cancel products that don’t. I’m not even sure if you really need AI for this, a very basic script could handle a lot of it.
Of course a program would be lacking in the common sense to say “Nobody is going to drop a week’s pay so they can go into a virtual world where they’re a poorly drawn legless cartoon character”. But present day CEOs make these mistakes anyway. It wouldn’t be good, but it wouldn’t be worse than the status quo.
Stock buybacks need to be made illegal again. I don’t understand how it’s anything other than market manipulation.
He’s was the first paid actor, just a puppet so the people in control can remain unknown. Skull and bones secret society was/is a real thing.
It’s not a secret, we know who the billionaires are that are funding this madness, but the only people that could put a stop to it, are the ones benefiting from them.
It makes sense if they’re pulling out of the stock market entirely, in that case it’s just settling the books. Any other reason is to manipulate the price. The whole stock market is a house of cards controlled directly by a few self-titled elites though, so chicanery is literally built in and always was.
I agree. I could live with it if it were merely a way to defer taxes, but the U.S. has something called the stepped-up basis. This allows people to inherit stocks without paying tax on the capital gains. The wealthy can live their whole lives without paying any tax. Both stock buy-backs and the stepped-up basis severely undermine the stock market and tax system.
Thank you. And amazing to see you have positive upvotes.
Whenever someone makes a comment like this on reddit, an army of accounts would appear to downvote and argue against it.
I’m convinced the narrative on reddit is highly controlled on these kind of topics.
Either that, or the retards of WSB were the culprits and they haven’t found their way to lemmy yet.
Now that I think of it, perhaps those same accounts were used to manipulate retail traders on WSB… hmmm…
I am an MBA and agree that buybacks are fine. The problem is toxic anti-capitalism from my perspective. People are not really educated well on these topics. I find your comment funny that an army of accountants come to explain things and help everyone understand the nuances and why this is needed, but all the experts are somehow shills.
It’s very obviously is. Stock buybacks aren’t allowed almost anywhere else in the world for a reason. It just leads to terrible behavior. This coupled with insanely low effective corporate tax rates means companies horde capital and do buybacks instead of doing other activities that are more economically beneficial to the country. Like increasing worker pay…
If I’m being honest, I don’t understand this angle. Why are stock buybacks immoral or wrong? Isn’t it simply using extra cash in a company to buy back stock from shareholders? With the same demand and reduced total stock, of course the price is going to go up. But the total market capitalization remains the same. I don’t understand why this is somehow wrong. Can someone help me out?
The other reply is correct regarding the macro effects of the practise. The more immediate issue is that it allows shareholders to avoid paying dividend taxes. So they can effectively defer paying taxes until they realise any capital gains. This is a huge benefit, as the present value of money is worth much more than the future value of money. However there is an even larger benefit in the U.S. Dependents can inherit stocks at the current price and avoid paying any capital gains tax. This is called the “stepped-up basis.” It’s an insane tax loophole. Together stock buy-backs and the stepped-up basis allow the ultra wealthy to pay little to no tax, ever. They take out perpetual loans to pay for living expenses, guaranteed against their holdings.
I agree. They need to do a reverse split if they want to change the shares in circulation.
The idea was a company could show faith by buying their own stock. Now ceo pay is tied to factors associated with the stock that can be manipulated by buying it back.
The IBM bro Ginny made millions while the company shrunk by manipulating the stock.
I don’t care what a ceo makes. I do care what they do. If they’re only focusing on themselves, I care.
A tale as old as mankind. Like 20 years ago I saw a movie. Some indie thing from France or Spain. The kind of shit that gets highly acclaimed at the Cannes film festival. In one scene there was a bricklayer reciting a poem (from the top of my head and loosely translated from German):
My grandfather was a bricklayer. My father was a bricklayer. I am a bricklayer, too. But, tell me, where is my house?
That allways stuck with me.
You load 16 tons, what do you get?
Another day older and deeper in debt
St. Peter, don’t you call me 'cause I can’t go
I owe my soul to the company store
I did some brain jogging and I think in German it went like this:
Mein Vater war ein Maurer. Sein Vater war ein Maurer. Auch ich mauere Tag ein Tag aus. Doch sag mir, wo steht mein Haus?
Which would translate to
My father was a bricklayer. His father was a bricklayer. I, too, wall up day in and day out. But tell me, where is my house?
But I can’t figure out what the movie was.
Stock buy backs used to be illegal in the USA. It was seen as a form of corruption.
It’s blatant stock manipulation. The stock price goes up because they increase demand for the stock for no reason. The value of the company doesn’t change at all other than they’re holding stock as an asset instead of the cash. Yet the stock is worth more now. It’s stock manipulation, plain and simple.
I approve of this series of memes. Please continue.
But…but it’s politics! Surely politics must always be 50/50 divisive, and not be based around universal assmunchers that any sane person should agree is an asshole?
