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Happy Labor Day

[Music by the incomparable Billy Bragg]

NPR:

American workers stay longer in the office, at the factory or on the farm than their counterparts in Europe and most other rich nations, and they produce more per person over the year.... The average U.S. worker produces $63,885 of wealth per year, more than their counterparts in all other countries, the International Labor Organization said in its report.

On the other hand, NorthJersey.com:

CEOs in large American companies averaged $10.8 million in total compensation in 2006, more than 364 times the pay of the average U.S. worker, based on data from an Associated Press survey of 386 Fortune 500 companies.

More Labor Day readings from David Sirota, Rep. George Miller, and Steve Skvara.

About Bluegal aka Fran
Bluegal aka Fran's picture
Executive Producer of The Professional Left Podcast. On staff at Crooks and Liars since 2007. Master's degree from Harvard. Happy wife of Driftglass. Mother of three geniuses. Obsessive knitter. Blogs at http://bgalrstate.blogspot.com. .
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68 Comments
mudshark's picture

I ust love working my ass of for peanuts....make my day so worthwhile.

mudshark's picture

damn.....nevermind

Mike the Canuck's picture

I don't understand why my american counterparts work so damn hard. Yah there's nothing wrong with a good work ethic, but when your boss is constantly bending you over and sticking it to you why should you continue to work so hard. Life is short. The time has long since past when I would say to my boss" Thank you sir, can I have some more"(and I don't mean pay)

Mike the Canuck's picture

actually I do understand why.Sorry folks. pay sucks and bills are high. You guys need to do something about that

Thing Fish's picture
BaScOmBe's picture

Yeah, I gotta work tomorrow!

creston's picture

I am sending this letter that I sent to Congresswoman Giffords from Arizona to your comments in hopes that someone has a way to get this to all of the Congress people to be wary of briefings from general officers. I haven’t figured out a way to send it to all of Congress at once.

I have no sour grapes here. I had a very successful career, but decided to leave the service when it was convenient because I could not compromise my integrity to become a general officer.

Creston Shields, Ph.D.
LtCol USAF, retired

RECOGNIZING THE LIMITATIONS OF GENERAL OFFICERS

I was the command briefing officer in the 7th Air Force Headquarters(the headquarters for all air operations during the Vietnam war) in 1969. My job was to prepare the overall briefing on the war that was given to the dignitaries that came to Vietnam to “learn” what was happening there. I was expected to put the brightest face on the war possible. I sat in conferences with other more specialized briefing officers when all of us were charged with preparing large briefings for a large group of dignitaries. One of them prominently stuck in my mind. I will explain it because of its pertinence to the words we get from the military headquarters in Iraq.

The group coming to Vietnam was the Blue Ribbon Defense Panel established by Mr. Nixon to discover what was going on over there. As we prepared, the different briefing officers and plans officers had to get coordinated positions from all of the general officers in the headquarters on every point to be made. The process was like this. A staff officer, probably a captain or a major made a proposal. That had to be coordinated and approved by all of the officers in his chain of command up to and including the general in his chain. Then once the general got the position letter, he put his comments on it and then it had to be coordinated with all of the other generals (around ten generals) in the headquarters. This could take several weeks taking the letter back and forth between the generals. The final letter basically said nothing. It certainly said nothing that anyone could criticize any general about. (As an aside, colleagues of mine at the Lt. Colonel level in the Pentagon, told me that they had cases that took over twenty rounds coordination to get position papers signed by the generals in the Pentagon. This was after much more coordination just to get it to the general level.) With the final approval of the generals, the briefing preparations began. A brigadier general, the chief of staff, ran this conference to prepare the final briefing. All briefing officers gave their prepared briefings hoping for approval by the chief of staff. One rarely got approved on the first go. So there was more watering down and covering up of what was really going on in the war. The Blue Ribbon Defense Panel got there briefing. We know what happened with Nixon’s policy for the rest of the war.

Congresswoman Giffords, all of Congress, and all American citizens must understand the limitations of statements coming from the commanders in Iraq. The military system causes generals to be master politicians. The difference between generals and most civilian politicians is that the generals have been playing politics longer. They are for the most part better educated than the average civilian politician. They are very smart. They are masters at insuring that nothing will get out that will bring any criticism on them. Thus you will never really know exactly what is going on in their theatre of operations.

Please share this with your congressional colleagues and please be aware of this as you formulate your questions of general officers in your committee hearings. Also please don’t be misled by any reasons the generals give that they need more time in Iraq. THEIR TIME IS UP!

BaScOmBe's picture

mudshark @ 1:

I just love working my ass off for peanuts....make my day so worthwhile.

Just trying to help ot... :lol:

Albatross's picture

Dig it: the American worker produces more value than anyone anytime in history. However the American worker does not see the fruits of those efforts, since the average income, adjusted for inflation, has been stagnant or slightly declining for thirty years. The Dow Jones is near record high, but only 15% of Americans own stocks, and those are mostly the wealthy. And the oil companies are recording quarter after quarter of record profits - which is to say, "more extra money than ever earned in history."

What does this tell us? That the Wealthy are getting wealthier and wealthier, not in sips but in great raging torrents of wealth, and that you and I and everyone you know are working suckers, playing a game designed so that we will never win, a game designed so that one person out of a hundred takes half of the chips on the table and leaves the other half for everyone else to fight over.

And how do they get away with it? Fear is the tool in their left hand, and Television is the tool in their right. Scare you into submission, and then blind you with bullshit.

That's America: 99.9% of us, working our asses off, so that .1% of us can live large, rewrite the laws, torture, occupy nations, take all the wealth, and then sneer at us should we have the temerity to speak up.

Andy K's picture

I worked today. Hard to turn down time and a half, specially when I know I've gotta defer payin' one of my bills 'til next month.

If it hasn't aired in yer area yet, check out the interview of Barney Frank on PBS's The News Hour.

Snowball's picture

Wow creston, well said. Gen. Petreaus' presentation before Congress is already a forgone conclusion that was scripted many months ago as the Surge escalation was in its planning stages. He will predictably report "mixed progress" in an effort to kick the ball down the field for another Friedman Unit (six months). The supporters of the war occupation will always call for another six months before their actions can be judged. Recently, Generals in Iraq have even extended that to another nine years.

MM's picture

America the greatest country in the world? B.S.

John Lennon had it right....

Working Class Hero

As soon as your born they make you feel small,
By giving you no time instead of it all,
Till the pain is so big you feel nothing at all,
A working class hero is something to be,
A working class hero is something to be.
They hurt you at home and they hit you at school,
They hate you if you're clever and they despise a fool,
Till you're so fucking crazy you can't follow their rules,
A working class hero is something to be,
A working class hero is something to be.
When they've tortured and scared you for twenty odd years,
Then they expect you to pick a career,
When you can't really function you're so full of fear,
A working class hero is something to be,
A working class hero is something to be.
Keep you doped with religion and sex and TV,
And you think you're so clever and classless and free,
But you're still fucking peasents as far as I can see,
A working class hero is something to be,
A working class hero is something to be.
There's room at the top they are telling you still,
But first you must learn how to smile as you kill,
If you want to be like the folks on the hill,
A working class hero is something to be.
A working class hero is something to be.
If you want to be a hero well just follow me,
If you want to be a hero well just follow me.

BaScOmBe's picture

Albatross @ 9:

....

That's America: 99.9% of us, working our asses off, so that .1% of us can live large, rewrite the laws, torture, occupy nations, take all the wealth, and then sneer at us should we have the temerity to speak up.

yep! and I STILL gotta go to work tomorrow!

Tony Snow's picture

Hey, don't remind me! At least your jobs don't involve lying constantly with a straight face and talking down to people who are still operating under the delusion that anything you've said in the past still applies.

Angry One's picture

Even as new reports show strong second quarter GDP growth and trumpet U.S. workers' world-leading productivity, two inescapable truths threaten their American Dream:
1. The American people aren't focused on economic growth; they're concerned about economic insecurity.
2. Working conditions are worst in precisely those states that voted for George W. Bush for President.

For the details, see:
"A Labor Day Look at the Bush League Economy."

Ali's picture

Yup - lest we forget they pay less than their share of taxes and over the last 6 years they have gained more power than ever!

BaScOmBe's picture

Tony Snow @ 14:

Hey, don't remind me! At least your jobs don't involve lying constantly with a straight face and talking down to people who are still operating under the delusion that anything you've said in the past still applies.

Sorry, but you're wrong. I work in corporate america.

BaScOmBe's picture

Edwards Picks Up Labor Day Union Endorsements -
Steel, Mine Workers Unions Back Edwards

He has good handlers. I think he's setting up a platform for hillary to steal through triangulation and the help of Faux/ABC.

Ron's picture

What a bunch of crazy bastards. Vote for the guys that are going to enslave you. You wonder why you work longer hours for less pay. Vote against your own self interests. It's time to take our country back.

BaScOmBe's picture

Ali @ 16:

Yup - lest we forget they pay less than their share of taxes and over the last 6 years they have gained more power than ever!

Which makes it more important than ever that I go to work tomorrow. :)

Andy K's picture

creston @ 7 -

Thanks fer the letter and yer service!

Seems to me that somewhere along the line the US military leadership forgot the old saw that fortune favors the bold. Makes me wonder how Pershing or Eisenhower would have succeeded in an enviroment of c.y.a. politics.

L.A. Confidential's picture

This week's version of the American Dream. The average U.S. worker produces $63,885 of wealth per year CEO.

L.A. Confidential's picture

Ali @ 16:

Yup - lest we forget they pay less than their share of taxes and over the last 6 years they have gained more power than ever!

There has to be some cheese in the trap, or we wouldn't keep going back to work day, after day, after day.

L.A. Confidential's picture

Ron @ 19:

What a bunch of crazy bastards. Vote for the guys that are going to enslave you. You wonder why you work longer hours for less pay. Vote against your own self interests. It's time to take our country back.

They Jet to Vail for Golf. We get a lousy parade with all the cheap beer you can desire.

What a deal

Rob M's picture

Although I don't have the numbers in front of me I did see the comparison of what CEO's in Europe make compared to their employees salary. Then I saw what CEO's in the US make compared to their employees. The difference between our European counterparts and our workers was staggering. The imbalance between US CEO's and their employees shows the greed between the have and have nots. To make matters worse this trend really jumped in the last 10-12 years. I'd like to wish everyone a Happy Labor Day as well but with the shrinking of trade unions, crippling free trade agreements, outsourcing of jobs, etc, there really isn't much to be happy about.

capnmike's picture

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

mark's picture

I sell money, a strong republican bastion of America. It has always amazed me that strong republican owners need to screw people more then make money. I have excellent customer retention and have a lot of client referrals but it never fails that sooner or later an old style of sales (the closer) management seeps into the equation. The first thing that happens, deals are put on the pipe at any cost or in any lying fashion and closing percentage drops way down. The over all effect is less revenue for the house. Why is ripping off a few more important then making a reasonable amount on a large number to these people? Republicans are just scum and make no sense.

Tony Snow's picture

BaScOmBe @ 17:

Tony Snow @ 14:

Hey, don't remind me! At least your jobs don't involve lying constantly with a straight face and talking down to people who are still operating under the delusion that anything you've said in the past still applies.

Sorry, but you're wrong. I work in corporate america.

Heh, so do I. Heh heh heh.

L.A. Confidential's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

It's those people on the production line who put money in your pocket. Never thought about that huh?

uncle joe mccarthy's picture

we work harder because we are scared

scared to lose benefits....scared to lose our homes

european workers have protections we do not

we have allowed our employers and our gov to destroy the unions that once protected us

too many came to the realization that the american dream is all an illusion....way too late

oh well....its good to be an american....roflmao

BaScOmBe's picture

Companies Court Older Employees As Retirement Boom Nears

weeeeeeeeeeellll!! It looks like they need us old bastids after all....

BaScOmBe's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

maybe you should see the carlin comments on youtube.

Karike's picture

We are corporate slaves!

L.A. Confidential's picture

SEPT 2.
SAN FRANCISCO -- The Bush administration can go ahead with a pilot program to allow as many as 100 Mexican trucking companies to freely haul their cargo anywhere within the U.S. for the next year, a federal appeals court ruled Friday.

"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."

-- George W. Bush (August 5, 2004)

BaScOmBe's picture

uncle joe mccarthy @ 31:

we work harder because we are scared

scared to lose benefits....scared to lose our homes

european workers have protections we do not

we have allowed our employers and our gov to destroy the unions that once protected us

too many came to the realization that the american dream is all an illusion....way too late

oh well....its good to be an american....roflmao

I'm not as scared as I am hungry! But that's just me. :)

BaScOmBe's picture

Karike @ 34:

We are corporate slaves!

I guess that means you have to work tomorrow.

MM's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Boo hoo!

iraqconcilable's picture

L.A. Confidential @ 23:

Ali @ 16:

Yup - lest we forget they pay less than their share of taxes and over the last 6 years they have gained more power than ever!

There has to be some cheese in the trap, or we wouldn't keep going back to work day, after day, after day.

The cheese is the promise that our short attention spans developed over the last few generations will be satisfied with a continuous dazzling array of new products and eye-candy that are within our economic reach if we don't rock the boat . The spell will only be broken if the draft is re-instated . Even ADD sufferers will not run into a burning building when told to .

mark's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Wouldn't life be fine if we could all afford a great education and circumstances were such that we could all end up as CEO's? All chiefs and no indians. How many people on the line barely scrape buy and their kids have to work to help the family? Capitalism is a self generating machine that makes sure that there is a never ending supply of indians. Just keep telling yourself how desperately everyone needs you and don't forget to put on your blinders to the people who make you an income. You probably even claim to be a strong christian.

uncle joe mccarthy's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

wait a sec....let me dry my tears from my kerchief

you work without compensation??? then you must have a very rich daddy

you forgot to tell us about your expense account, your home taken as a biz expense, your vacations taken as biz expense, your cars taken as a biz expense....your mistress taken as a biz expense

go cry a river on some wingnut blog

cuz all your post proves is that too many employers give no worth to the employees who allow them to live in the manner they are accustomed to

PopeTodd's picture

HEY!!!

What are you doing posting on this moonbat foilhead site, that's not what I pay you for!

Get back to work scum!!

[/snark]

myiq2xu's picture

Yo! Green Party Naderites! Still think there's no difference between Bush and Gore?

Thanks for (worse than) nothing.

IraqIsDisaster's picture

Well, if everybody got pissed off enough to walk out on work for a day or week or two at the same time to show the piggish CEOs who is really doing the work maybe we would get somewhere. Other countries do it. It is called a general strike I believe. And on those days, everyone would be free to work on their OWN houses, cars, etc. or help out one of their fellow struggling middle class or lower class friends and let the rich work on their own cars and houses which of course they don't know how to do. And the FAT CATS could watch their corporate profits plummet.

IraqIsDisaster's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Nobody ever said you, as a CEO and owner who has risked a lot should not make more money than others. But 300 times More?! Get real dude. Something is wrong with that. And what is the big pressure you are talking about. In this country, the US, when you CEOs screw up what happens to you? You have probably already made so much money that you collect a nice monthly check from your mutual funds etc. If you had to comit suicide if you failed I would feel better about the 300 times average worker pay. CEOs in this country do not really pay a high price for failure as far as I can see. In Japan the margin is much smaller. I seem to remember hearing something around 40 times average worker pay over there. This is much better. Heck, it is still 40 times more! But you are a greedy pig who wants 300 times more. You simply do not deserve that. Tell me I am wrong and explain why.

Otay's picture

Let's see, how can I work really hard to give my CEO more money? I think he needs another home, this time in Greece.

Gotta love that incentive for the middle class to excel at their jobs - so they can give their glorious CEO's more and more.

/sarcasm

I know someone who on his own initiative did something which brought money into the company. So what happened? He got nothing, but a boss three layers above him received a bonus in the $10,000 range. What do you think this did to this guy's incentive - he no longer tries to excel.

Many companies now only give approximately $200 for an invention which is patented by the company. Even if the company makes lots of money off of the invention.

In 1989, when the average CEO in Japan made ~$276,000, the average CEO pay in America was 71 times the average worker, now it is 364 times as much as the average worker.

http://www0.gsb.columbia.edu/null/WP210?exclusive=filemgr.download&file_...

There is something very wrong here, folks. And yet our glorious GOP leaders think these guys also need better tax breaks. Poor little CEO's.

PopeTodd's picture

You just don't understand how HARD it is being a millionaire!

If only you lowly peons would remember just how lucky you are to even have the ability to make your better the money he needs to vacation in the Alps (in his own house. How could expect your master to stay in a hotel, pulease!)

You scurvy rats need to remember your place, NOW GET BACK TO WORK!

QuakerDave's picture

I love my job: I'm lucky that way. And I love being in my union, especially now that we've decided to grow up and be a union, and not just an "association."

And I really love this song.

Otay's picture

Just remember: the average CEO could fire 364 of his/her average workers tomorrow and do all of their jobs single-handedly. That's how good he is. Dear and Glorious Leader!

mudshark's picture

BaScOmBe @ 8:

mudshark @ 1:

I just love working my ass off for peanuts....makes my day so worthwhile.

Just trying to help ot... :lol:

...ughhhh....thanks.....I worked today...no fun,

mudshark's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ all praise the almighty dollar.....you excuse me while I rest for tomorrow.
What is it you manufacture?

mudshark's picture

L.A. Confidential @ 22:

This week's version of the American Dream. The average U.S. worker produces $63,885 of wealth per year CEO.

Which may seem to some as a substantial amount of money...until you take out taxes,cost of living(home,car,expenses for both,health care,education,FOOD,clothes,and a whole assortment of daily essentials.......that figure gets real small real fast......

Boop's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show...
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Ahoy, Cap'n.

There is a certain dichotomy ("The teaching that a human consists of two parts: body and soul.") with being a leftie and creating weatlh for oneself or others.

Post on, brother.

Otay's picture

See this is part of the problem right here: that people think it is the CEO who produces wealth in the company, instead of the inventors who come up with new ideas, the engineers who come up with new ways to implement ideas, down to the "lowest" (on the totem pole) worker who comes up with new ways to do things.

It's pure hubris to think that the CEO does this or to think that if the CEO were to stop making decisions, nobody else in the company could (or indeed already does) fill that role - that the company would fail if he/she were to let decisions be made at at a lower level; in fact, many of the wealth-making decisions are already conducted at these lower levels.

Hell, you can barely even find CEO's these days who really even take responsibility for poor decisions being made by themselves; but they sure are quick to take credit for the good decisions made by their underlings.

jr's picture

Cavuto attacked unions today on his show. The anchors only care about themselves

Boop's picture

Otay @ 54:

See this is part of the problem right here: that people think it is the CEO who produces wealth in the company, instead of the inventors who come up with new ideas, the engineers who come up with new ways to implement ideas, down to the "lowest" (on the totem pole) worker who comes up with new ways to do things.

It's pure hubris to think that the CEO does this or to think that if the CEO were to stop making decisions, nobody else in the company could (or indeed already does) fill that role - that the company would fail if he/she were to let decisions be made at at a lower level; in fact, many of the wealth-making decisions are already conducted at these lower levels.

Hell, you can barely even find CEO's these days who really even take responsibility for poor decisions being made by themselves; but they sure are quick to take credit for the good decisions made by their underlings.

Boop @ 53:

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show...
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Ahoy, Cap'n.

There is a certain dichotomy ("The teaching that a human consists of two parts: body and soul.") with being a leftie and creating weatlh for oneself or others.

Post on, brother.

Someone at the top needs to look at results, plan for the future and make the final decision.

Rock On

Otay's picture

There is no one "final decision", except if you strictly look at the money spent, which is not the most deterministic source of wealth in the company - it is the human capital and their brainpower. The best companies are the ones that step back and let the the employees innovate in their own areas of expertise, while the upper management's job is to hold rein on the spending; to tell what can be spent but not micromanage how it is spent. Look at the mission statements of companies and you will see the extent to which the CEO actually "plans for the future" of the typical company. Scott Adams captures it well.

This innovation is not encouraged by overvaluing the CEO versus everyone else. See my above examples. I bet many people have similar accounts.

Rasputin's picture

Otay @ 57:

There is no one "final decision", except if you strictly look at the money spent, which is not the most deterministic source of wealth in the company - it is the human capital and their brainpower. The best companies are the ones that step back and let the the employees innovate in their own areas of expertise, while the upper management's job is to hold rein on the spending; to tell what can be spent but not micromanage how it is spent. Look at the mission statements of companies and you will see the extent to which the CEO actually "plans for the future" of the typical company. Scott Adams captures it well.

This innovation is not encouraged by overvaluing the CEO versus everyone else. See my above examples. I bet many people have similar accounts.

Your posts contain many of the core principles of Dr. Edward Deming's management techniques. He tried to introduce these management techniques into American industry and the CEOs told him that they would never work, so he took them to Japan and they embraced them and the Deming award is the highest honor that Japanese industry gives. His principles reshaped Toyota, Proctor and Gamble, and Harley Davidson to name a few.

He taught a systems view of the corporation where no one part is more important than any other, that the people best qualified to decide how to do a job are the ones who do the work, quality of the product over costs, everyone must win in the company, innovate constantly... or as you put it... "There is no final decision."

He strongly emphasized human capital within the organization, the strength of the collective group, but today we have the cult of the CEO. It has an antagonistic view towards labor and they have manipulated government into assisting them in exporting jobs off-shore to take advantage of cheap labor (and often literally slave labor), and poor environmental workplace conditions.

In doing so they have also surrendered control of the process and we now have thousands of products being recalled almost daily; outbreaks of food poisoning, children's toys coated in toxic paint, toothpaste full of anti-freeze... and the companies are taking a bath in the profit department because of their own stupidity and greed.

Che's Lounge's picture

If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT.

No thinking required. Just read about it. Those top level CEO's couldn't give one rats ass about layoffs and bankruptcies. Do you actually expect us to buy the idea that the CEO's would actually suffer one bit? They are PAID to run these US businesses, like Delphi, the food industry and GM, into the ground. GM is on the verge of collapse, yet the lending company GMAC is flying high. Guess which one used to employ hundreds of thousands of workers, and which one requires a few geeks in cubicles? The services those companies provide are outsourced to Canada and Mexico, while the poor, poor CEO's retire with their golden parachutes and 3 homes.

Give me a fucking break man. How many fucking ex CEO's are at the local EDD. Not that you even know what EDD stands for. Its the Employment Development Department, aka the unemployment line.

StCyrlyMe's picture

It is really sad to see American people work two and three jobs to make ends meet, while their bosses get paid five hundred times more then the workers and our kids running wild for lack of attention their parents are unable to provide because they are simply overworked, under paid and just plan screwed by their government

It was not always this way folks and I am living proof of it. We have to understand the people we put in power of the making bad decisions based on their own personal greed and interest that put us in this rut. On a brighter note though, It can be fixed and we are in the process of taking care of that come the next election.

We have to take a stand and demand that the power of controlling this country is rightfully put back in the hands of American people and return our voting process for us to be able to make these intelligent decisions that effect our lives of today and our kids future of tomorrow.

Aon213's picture

capnmike @ 27:

As a CEO of my own company, (one who hasn't gotten a paycheck in almost 3 years), I resent the implication that all CEO's do is play golf and sit on their asses.. It's a LEVEL OF RESPONSIBILITY that they get paid for, not what they DO, but what they know and what happens if they screw up. Somebody has to run the show. If you are an average guy working on a production line and you screw up, maybe a few pieces hit the trash that would have been OK. No biggie. If you are a CEO and screw up, thousands of people could lose their jobs, plants close, vendors go bankrupt, etc etc. Think about THAT. No, the playing field isn't level, nor has it ever been...it's what's called "incentive", and the lack of it is the reason Socialism, and Communism, ultimately fail. If you want to fool around instead of getting yourself a decent education, if you are unwilling to take risks, if you lack the nerve to promote yourself and take the big leaps needed to get to the top (and many fail anyway) then you end up on the production line, and WHOSE FAULT IS THAT?
note-----Usually this site pulls my comments because I don't always agree 100% with them...

Awww.. how cute.. you actually think that the -big- CEO's get paid for their level of responsibility? Let me inform you my friend, that they get their millions regardless of how badly they fuck up. These guys can bring a company to the brink of disaster and still walk off with millions and a pension.

Nobody's raging against entrepreneurs or the prinicples of free market and incentives to invest, get over yourself, they're raging against multi million salaries which are based on nothing but the whims of global top managers who are having a pissing contest.

Trojan John's picture
Albatross's picture

capnmike@27
Oh please, gimme a break. We're talking REAL CEO's, not guys like you and me who own little rinkydink companies! Yeah, I'm CEO of my own company too - I'm also the only employee! You wanna be a CEO? Go down to the State Attorney General's office and file your $35 fee. Congratulations. You want to be a REAL CEO? Get born into the right family, get sent to the right colleges, get pledged into the right frats, suck the right dicks, and you too can earn 400 times what your average employee earns, or more money in one day than they get in a year.

Rob M's picture

capnmike Says:

As a CEO of my own company, (one who hasn’t gotten a paycheck in almost 3 years), I resent the implication that all CEO’s do is play golf and sit on their asses.

Finally I have proof that Ken Lay is alive and well. Either that or he is hiding in Miner Bob Murray's body.

ysbaddaden's picture

I had a happy Labour day, and got the stretch marks to prove it.

ysbaddaden's picture

Funny how when CEO's have to face regulators, the administrative rules will destroy the economy, but when they lay off thousands of employees their stock goes up.

Norse's picture

Hmm, Norway is actually on top on hourly production, with the US at second, some 3% below us, but you work a hell of a lot more.
Admittedly, might be in great deal due to the oil industry being a large part, which is a finite resource.

Regarding CEO pay vs. employee, I am amazed of the differences you have, but I guess that is part of the american dream, and workers dream of being super rich one day, and are therefore willing to support laws and rules/situations who help the super rich.
Amusing, yet sad.

As for receiving pay for responsibility, that is bullshit, if you screw up as a CEO you put a load of people out of a job, but that the CEO has his parachute to fall back on, as risk security, while his employees have nothing, is patently unfair.

It moves the risk/consequences of a CEO screwup from the CEO, and onto the employees.

My neighbour is one of the highrollers. He has been forced to go from a couple of companies just before bankruptcy, one was a company which had a revolutionary world patent, a process in which to burn garbage and generate power without emissions, one most physicists (sp) said was impossible. But he had some serious delusions of grandeur, and ran the company aground in 2-3 years, and the patent got sold to some company in England. I suspect the professor at the University in Trondheim who invented the process, and had to hand over control to the investors, who gave it to said CEO, is rather bitter about it.

The discussion is raging here in Norway as well regarding this. A lot argue that we have to pay the CEO what they demand, or they will leave the country, bleeding us for good leaders, while others are happy to see any greedy bastards go.

The issue here, is that the larger corporations are very often very intertwined with regards to board members and leadership, so you get an exclusive "club" which easily looses contact with the ground, giving themselves more and more money, and it seems that is what we are fighting here, while you lost that fight in the US some time ago.

Giboyle's picture

Great analysis Norse.

I would also suggest to look at those productivity figures over time expressed in another currency, the Euro for instance. I bet the order would have been quite different, if one considers the important evolutions of currencies during the latest years.

Another figure of interest to me: what would be those statistics if were only considered the 95% lowest salaries?

Working to live or living to work, which one would you choose? It seems the top brass are choosing for everybody. Nice to hear some dissenting sound from the other side of the Atlantic. And what a pity that those remain unknown to the vast majority of the European public.

And thanks for C&L too!

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