GOP success model:1. Low wages.2. Short them on hours.3. No
benefits.4. Keep employees at poverty level and they're forced to get
government benefits.5. Complain about tax breaks.
Should Michael Jordon make 1,118 times more than a janitor?Should
Brad Pitt make 1,118 times more than a fast food worker?Sorry! But
people make what they are worth. Just the way it is.
I don't shop at Walmart so I am not really qualified to comment. However, I
do think that the CEO should prefer to make less money than he is
"earning." I have a hard time seeing how his skills can be that much
greater than many other employees that have the decision making responsibilities
in the stores. That are "in the trenches" and should have greater
compensation for doing so.
Ok. That means Walmart's CEO is making $9.91 per year, per employee. Or,
1/2 of ONE-THOUSANDTH of a percent.If a CEO isn't making decisions
worth a thousandth of an employee's annual pay, it's time to get a new
So ? It is called the Free Market ... and it's better
than Socialism ...
Mike Rowe has been highlighting the jobs that don't require a college
degree for some time now, and there is a definite shortage of skilled tradesmen
- plumbers, electricians, carpenters. Those jobs haven't been sent
oversees or replaced by robots. You might need to go to a trade school or have
an apprenticeship, but they don't require college and they certainly beat
Walmart or fast food.
The real issue is that all of the jobs that were high paying and required only a
high school diploma are all gone. Either to other countries with lower labor
costs or to robotics.So we are left with service jobs - low paying
and low skill - and all of the people who didn't go to college (and some
that did!) are trying to support their families on this. Combine
that with rising housing costs and our crazy medical system in the US where you
pay more for less and you get a lot of angry people.Bring on the
pitchforks folks! It's going to get worse before it gets better.
Workers wages have been stagnant since the 70s, while everything else: housing,
childcare, medical care and university has skyrocketed.Working at
Walmart shouldn't be a cushy job, but when you are working full time and
they are teaching their employees how to apply for food stamps there is
something wrong with the system.
In a high school you have honor roll students and those who fail.Crazy! Should students with low grades blame the others for their situation?
And how much does CNN’s CEO make? And what is the median pay for CNN
employees? (My husband wondered this first.)
How is it our place to judge what anyone is making as "obscene"? If the
board and company managers feel he adds that much value then why not pay him
what he asks and what they obviously can afford? Big companies are about making
money. If they didn't think paying that CEO's salary adds value and
makes them money they wouldn't be doing it.If you don't
like your checker job at Walmart, go to night school. Get some education and
get a better job that pays more and has better hours. Rather than demanding
more pay for the same largely unskilled job, go get some skills and make things
better for yourself.There are plenty of people in the same circumstances
you are who do better mostly because they decided to, and then made the
necessary sacrifices to do so.
Conservatives defend the right for this CEO and others to make as much as they
can but don't defend the right of workers to strike to make as much as they
can. Double standard?
I wish the Walmart CEO would give up enough of his pay for the Walmart in
Saratoga Springs to hire a few more cashiers. In fact, maybe he could give up
$10 million so stores around the country could be better staffed and provide
better customer service. I realize that would only leave him with $12 million a
year, but I'm sure he could survive if he clips coupons and takes advantage
of all those great deals at Walmart.
Marxist.."At some point the major political parties have to discuss
distribution, else the system will morph into something very different from what
we know. "..or have ever known. No one here has ever said that
a checker should make the same amount as a CEO. What is the correct difference?
Why should the difference be over one thousand times more? History
has given us the answer...because they can. In 1965 (the good old days) CEOs
averaged 20 times more in salary than the average worker. Now the average is
300 times more and Walmart is obscene. All that has happened here
is a power shift (for a lot of reasons). It's disheartening
to read the anti Marxist babble here when the issues at hand have virtually
nothing to do with Marxism except his analysis all the while supporting a form
of near genocidal capitalism that leaves millions unable to support themselves
and a small percentage with nearly everything. Explain the moral
difference between your hated communism that leaves millions starving and a
capitalist system that does the same for no good reason other than "they
@Marxist You say the difference between the wages of labor and the salaries of
the top executives, in the US, is the widest by far. No, the income differences
between the Marxist Communist States in places like North Korea are far greater
than the US. If you want to see the real elitist in this world, check out
those countries that practice the politics of Marx and benefit most from the
ultimate socialist economy. Marxism and Utopian Socialism has never proven to
be anything other than a theory that has never worked as anticipated other than
for those elitist socialist that control the military and police.
Since he’s perceived as being responsible for all 2.3 million employees,
his compensation sounds about right.
LeBron James will make much more money than a burger flipper.Yet his
skill has created income for the city, employer, and many workers in the
organization. Plus more!Yep! Walmart's CEO has also been
beneficial for many people.Don't allow the main stream media to
promote bitterness and envy over this.
@marxist: "From not compensating living labor for all the value it adds -
surplus value."1-Maxists and other covetous types always fail to
recognize the value of labor above the menial level. The CEO labors mentally.2-Organization provides value. A friend is a "painting broker".
He doesn't actually paint houses but connects clients who need painting
done with painters. He also handles billing and payments. Many painters seek him
out because they don't want to deal with finding clients or handing
billing. The broker's profits come from added value. The painters freely
agree he adds value. No one is exploited."Marx thought that
capitalism would eventually need much less labor leading to mass unemployment
and collapsed profits"He also thought that marxism would bring
peace and harmony. Instead, it brought 100 Million murders and countless more
tortures and suffering for 100 years. Automation has increased profits and
unemployment is caused by lack of skills, not by automation.The most
surprising thing about marxism is that after 100 years of failure and
incalculable suffering, there are still those who defend it as anything other
than failed theory.
There is always going to be a significant gap between the front line employee
and the CEO given the difference in their skills and responsibilities. But,
these days the gap is ridiculous. Walmart is a prime example. People at the
bottom have to decide if they want to remain there all their lives. People at
the top could certainly be a lot less gredy than they are.
Glad those tax cuts are working. Boy are they really helping the average Joe
make ends meet.
Economic theory aside, the distance between employee wages and corporate CEO
salaries is largest in the U.S. by far. Why? Because corporate governance is
different in other parts of the world. Consider Germany:There
employee representatives have a right to seats on the boards of directors of
larger companies – one-third in companies with 500 to 2,000 employees,
half in companies with more than 2,000.This puts a break on CEO pay,
appropriately. And BTW, labor has something to contribute to management. But in the U.S. as far as corporate CEO's are concerned no amount
of compensation is enough.
@NoNamesAccepted "The automation revolution is proving the folly of
Marx's misguided theories. If profits come primarily from robbing employees
of their "surplus value" then how does a fully automated McDonalds
function? Why do profits at Walmart go up when they hire fewer cashiers to
exploit and instead let customers check themselves out? Are we now robbing
robots of their "surplus value?"Marx accepts Smith's
assertion that in optimal product markets things exchange at full value. This
means equivalents are exchanged so there is no profit in product exchange
itself. So where do profits come from? From not compensating living labor for
all the value it adds - surplus value.As for automation, in the case
of Walmart letting customers check themselves out places them in competition
with the regular checkers. These hapless souls then work all the harder -
increased intensity - meaning they make up for the loss of surplus value of the
laid off checkers. Moreover the surviving checkers are much more cowed in
asking for pay raises.Marx thought that capitalism would eventually
need much less labor leading to mass unemployment and collapsed profits - the
I congratulate him and not envious of him either.
Right and the CEO makes the final decisions on the corporation's current
profitability and taking the right steps to prepare for an uncertain future
where standard brick and mortar retailers will either survive and prosper or
fail with a certain death. Making the right decisions are only the beginning
and then he has to manage the process of making the course changes, as
necessary, to get the ship to port. Sounds easy. If was easy, corporate
America wouldn't be paying the big bucks to hire a CEO and the high paid
professionals that makeup the management team. Anyone that believes managing a
corporation like Wal-Mart is simple or can be done with the average business
background and intelligence is delusional. BTW, if the CEO doesn't make it
work, all those employees will be unemployed unless they can do something other
than bag sold merchandise.
@Marxist: "Walmart harvests huge amounts of surplus value from its
employees, and such is the main source of their profits. "And
would this supposed "surplus" exist if Walmart were not employing
people? What value does a cashier, stocker, or custodian have if there is no
business with a need to operate cash registers, to stock shelves, or to keep
clean?The automation revolution is proving the folly of Marx's
misguided theories. If profits come primarily from robbing employees of their
"surplus value" then how does a fully automated McDonalds function? Why
do profits at Walmart go up when they hire fewer cashiers to exploit and instead
let customers check themselves out? Are we now robbing robots of their
"surplus value?"That single question puts the lie to Marx
and silliness of those who continue to push his failed theories.Profits come from adding value. And most of that value is in organizing what
would otherwise be chaos. Hiring, training, and properly scheduling staff adds
value that 100 random works do not possess themselves. Bringing 1000 products
under one roof adds value.Anyone can live communitarianism in this
nation. It is a choice not to.
Because any Walmart cashier could step right into CEO Doug McMillon's shoes
and make the company even more profitable right? In fact I bet a homeless guy
could run the company better than McMillon!Another article in
support of a 'narrative' that nobody is falling for anymore. November
is going to be interesting.
Capital in its money form is infinitely expandable, and in capitalism, for those
at the top, no amount suffices. As Marx said “Accumulate, accumulate!
This is Moses and the Prophets!”Walmart harvests huge amounts
of surplus value from its employees, and such is the main source of their
profits. At some point the major political parties have to discuss
distribution, else the system will morph into something very different from what
we know. But notice how Donald Trump never mentions it. If there was a way to
raise the issue at a Trump rally, it would deflate the auditorium.
Sigh... always fun to see which reporters don’t have a basic understanding
of economics... Your salary has nothing to do with how hard your job is,
it’s all about value and replacement cost. The CEO of Walmart’s
decisions are much more than a 1000x more important than the decisions of
individual employees. He can make a decision that will mean billions of dollars
of profitability, or result in Walmart going out of business. An individual
employee will just forget to stock toilet paper and upset one person. Why
is this even a story? You’re trying to stoke the flames of inequality.
People making minimum wage are walmart mostly deserve to make minimum wage. If
they want to earn more they should learn more valuable skills that are in higher
demand. Frankly I’m disappointed that the earning gap isn’t more...
Those 2.3 employees must be busier than a one legged man in a kicking contest.