this post was submitted on 14 May 2025
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“After giving our executive team record bonuses, we can’t afford to pay you a living wage.”
Meh. Lemmy hates me when I point this out, but executive compensation is a drop in the bucket vs. gross or even profit. It's just not a big deal, but they make a fine target to shoot at. Easy to see and focus on.
Did the math on American Airlines a couple of years ago. If their CEO took a $0 salary, every single employee could get a $.19/hr. raise. (It was worse than that, but I forget, don't want to exaggerate. Think it worked out to <$250/yr. bonus, if that. Chicken change.)
They're fucking us by death of a thousand cuts, but CEO pay isn't it.
If you have to point to one single problem it's shareholders, Dodge vs Ford (1916) established shareholder supremacy, so the point of any company isn't to produce widgets or employ people or pay the CEO, it's to produce value for the shareholders, end of story. All things serve this master purpose.
I worked at a privately held $1b manufacturing company recently, they were doing record profits, cut employee bonuses based on some bullshit metric we "failed to hit," all the money was just pouring into the owning family's pockets. Their private helicopter trips were the purpose of our labor. Their shopping excursions to Europe. Sadly, this is a highly politically active family in conservative politics, funding the Heritage foundation over decades.