Black Lives matter shuts down Bernie

[Benton]

(08-15-2015, 12:55 AM)JustWinBaby Wrote: You are clueless.  CEO pay is an idiotic liberal meme - not to say it isn't too high, just that it isn't the problem driving your issue.  I'd like to say I expect more from you, but you have too many posts with this level of ignorance.

I mean, have you ever done the math?  OK, let's say GM's CEO makes $50M....Let's say he should make $0, but GM employs nearly 100k people....so that's like $500 per employee.  So just one example of how only the ignorant ***** about CEO pay.

http://www.forbes.com/sites/paulroderickgregory/2012/08/12/outsourcer-in-chief-obama-of-general-motors/

Quote:To be exact: GM’s December 31, 2011 annual report shows General Motors of North America accounting for 98,000  of the 207,000 GM jobs worldwide. But 12,000 of these jobs are in Canada and 11,500 are in Mexico.  Accordingly, GM has 74,500 jobs in the United States and 122,500 abroad, even after Obama’s touted surge in Detroit jobs.  Almost two thirds of  GM’s jobs are in other countries.

http://wjla.com/news/business/treasury-oks-big-pay-raises-for-gm-ally-despite-bailouts-107465

Quote:WASHINGTON (AP) - The U.S. Treasury Department continued to approve "excessive" pay raises for top executives at General Motors and its former consumer finance arm, both of which received taxpayer-funded bailouts during the financial crisis, a new government report says.

The government watchdog that oversees the $475 billion bailout said Treasury approved cash salaries exceeding $500,000 last year for 16 of the 47 top executives at General Motors Corp. and Ally Financial Inc. Treasury allowed total pay packages, including company stock, of at least $1 million for every top executive at the two companies, according to the report released Wednesday by the special inspector general for the Troubled Asset Relief Program.
It said the government approved $3 million in pay raises, from 4 percent to 20 percent, for nine GM executives, most of whom had previously gotten raises several years in a row. The government sold its last shares of GM in December.

...

A report issued in April by Romero estimated that taxpayers lost $11.2 billion on the bailout of GM, up from a previous estimate of $10.5 billion. The automaker needed the $49.5 billion in aid to survive its bankruptcy restructuring in 2009. GM went public again in November 2010.

That's more of an issue most people. Not that leaders of successful companies are rewarded, but that the system and government grossly rewards failure. It does it in the form of tax breaks and loopholes such as the case with GMs last few CEOs, it does it in the term of false consumer confidence after just hacking away at assets and plundering companies as in Fiorina.