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I have a friend who works at Peoplesoft. Even without the threat of an Oracle takeoker he will likely lose his job by the end of the year. Unless he wants to move to India and take a huge pay cut.

Here's an interesting article about the shift of wealth in America over the last 30 years. It's called For Richer, and is written by an economics professor at Princeton:

http://66.102.7.104/search?q=cache:1R7JkFmNBAwJ:www.bsos.umd.edu/gvpt/oppenheimer/209j/wealth.pdf+krugman+"for+richer"&hl=en&ie=UTF-8

Mrs. BigDog
 

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Could somebody please 'splain this to me...

The RE prices are STILL on a rip-roaring run UP.

Sales of new luxury cars is STILL on fire.

65% of NEW jobs must be going to OTHER THAN "near minimum wage immigrants".

DO YOU REALLY believe that all those folks that have been "let go" are being sacrificed so some TOP LEVEL EXECUTIVE can afford his new MAYBACH???

Doesn't it seem a TAD BIT more likely that the company had to make some TOUGH CHOICES to find ways to boost ROI/productivity by cutting loose some folks whose contribution to the bottomline no longer matches their hefty pay & benefits?

Don't get me wrong -- I have been laid off. It is not FUN AT ALL. ESPECIALLY WHEN YOUR SPOUSE IS LAID OFF AT THE SAME TIME & YOU'RE EXPECTING YOUR FIRST CHILD! But I have yet to see a "top producer" in ANY field be 'shown the door' without SOME rationale. I'm not talking about "loyalty" {which I believe is a happy fiction...} I'm talking about the simple calculation that I believe even the most dimwitted executive IS capable of making: "how much does employee X get paid, how much REVENUE is employee X likely to generate"...

Whether a company makes 'things' {like automobiles, houses, breakfast cereal, packaged software} or provides service {like cutting lawns, engineering complex software solutions, cooking hamburgers, offering open-heart surgery, defending legal cases, financing billion dollar health care networks} they have gotten amazingly quick to "pull the trigger" when the 'salary spent vs revenue brought in' equation is out of whack.

What about the argument of Krugman (and others) that compensation IN THE EXECUTIVE RANKS is out of whack? It may very well be, however so too is 'compensation' among 'the media & entertainment' -- EVERYONE whose face pops up on TV as PAID shill from Dan Rather, Oprah Winfrey, & Katie Couric to A-Rod, Shaq, Kobe, Lance Armstrong, Tiger Woods, Bruce Willis, Jim Carey, Ashley Judd, Madonna, P-Diddy et cetera is getting PAID TOO DAMNED MUCH -- the research into the REAL persuasive powers of ADVERTISING (which is, of course, what is used to justify those salaries) shows that "celebrity" add virtually NOTHING to the mix yet, as the folks that pay these celebrities run companies that by their very nature sell some HUGE volumes of good that the 'celebrity tax' on individual product is negligible -- a few tenths of a penny on every dollar sold at every retail business times the TRILLIONS of dollars in sales that happen at retail... Sadly the people hit most directly by attempts to rein-in ad spending are the "little people" that actually write the scripts for commercials, edit the video, print up the posters. I suspect that if any 'sudden shift' were to be mandated for "Executive Compensation" similarly the folks run catering companies, provide housekeeping and landscaping, chauffeur the rich between homes would be the first to 'feel the pain'. My guess that "next in line" to feel the squeeze would be folks whose homes are blocks away from the "super mansions" of the super rich -- when those formerly $10M++ mansions start to plummet 20%, 30% or more don't hold your breath thinking that would slice off a large slab of the "unrealized equity" you have in your nice "upper middle class" home...

And don't think for a second that "middle level & lower" salaries won't be effected -- do you really think that WHO EVER would be taking home a smaller paycheck (whether it is the same old person that used to have BIG 'OL executive pay schedule or some new guy that was hired "on the cheap") would NOT institute a top-to-bottom "salary review" to make sure EVERYBODY ELSE is working on the same "belt tightened wages" as the "big cheese"...

While Paul Krugmen may be professor, I think I would have to put him right up there Sherman Klump PhD -- you know, Eddie Murphy's "Nutty Professor"...
 

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About the entertainers and athletes, we all have the option of not buying from the sponsors, not ordering sports and entertainment PPV, not attending athletic events in order to drive down the money at the gate.

But try to convince the general public to stay out the stadiums, go for a jog with your kids instead of sitting there with a greasy dog watching your favorite billionaire athlete hit his mega-home run.

That obscene money they get comes from us. It does not grow on trees. We support the sponsors, buy the hats and T Shirts, and to show us how much they appreciate it, they charge us the price of a 5 course dinner to get in the gate. And we eat it up! And then we b$tch about it to our colleagues on Monday morning...go figure!

:rolleyes:
 
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