[BloodEagle]

http://www.insidenova.com/isn/news/local/article/circuit_city_wants_to_pay_execs_bonuses/29633/

Circuit City proposed that 16 executives would split $2.3 million if they all achieve their targets, and the remaining non-managerial workers would be in line for $1.62 million if the bankruptcy judge goes along with the idea at a Feb. 25 hearing.

 

2,300,000 USD / 16p* = 143,750 USD / p
1,620,000 USD / x**p = 47.7-162 USD / p

 

*People who appearently did a poor job.
**Assuming that 10,000-34,000 people are still working there.

[iamzack]

I challenge all 16 of them to a duel.

[Rick James]

I challenge all 16 of them to a duel.

"Welcome to Circuit City. My name is Inigo Montoya. You bankrupted my father. Prepare to die."

[redsniper]

I challenge all 16 of them to a duel.

Simultaneously or you're a sissy.

[iamzack]

Of course simultaneously. Duh.

[IceFire]

I like the duel idea!

Seriously the culture of getting bonuses is whacked out.  You negotiate a contract and you get paid either by the hour or by salary.  I realize I'm not a terribly good hypercapitalist but the folks at the top are getting far too much compensation for their efforts compared to the basic worker. I'm not against them receiving a significant amount of pay...but what they are making is outrageous.

[Galemp]

I realize I'm not a terribly good hypercapitalist but the folks at the top are getting far too much compensation for their efforts compared to the basic worker. I'm not against them receiving a significant amount of pay...but what they are making is outrageous.

What is happening:



Why this is wrong:

Marginal Utility of Wealth
Basically, a house given to a billionare, used as a second summer home, would receive far less utility than the same house given to a homeless family of five. Hence, economically as well as socially, it makes sense to redistribute wealth where it can be put to the greatest good.

[iamzack]

The probablem is that the house isn't given, it's purchased. :\

But I do agree.

[Galemp]

Okay then, fine... suppose that the family of five was given the purchasing power for a house through  higher wages, paid for by the same amount taken through pay cuts on the rich. Same deal.

If the companies won't do it themselves, then the government has to step in and establish floors (minimum wage) and ceilings (massive taxes at higher tax brackets.) Our current floors and ceilings are very far apart, which creates massive economic growth at the cost of social equality, and increases average income at a faster rate than more socialist nations like Denmark.

Still, the average Dane is happier even if the average American is wealthier. So that should tell you what our nation's economic priorities are.

[Solatar]

Put them all in a room, say only one person can have the bonus.

Then break a pool stick over your leg as you inform them that you are holding "auditions"

[Kosh]

Okay then, fine... suppose that the family of five was given the purchasing power for a house through  higher wages, paid for by the same amount taken through pay cuts on the rich. Same deal.

If the companies won't do it themselves, then the government has to step in and establish floors (minimum wage) and ceilings (massive taxes at higher tax brackets.) Our current floors and ceilings are very far apart, which creates massive economic growth at the cost of social equality, and increases average income at a faster rate than more socialist nations like Denmark.

Still, the average Dane is happier even if the average American is wealthier. So that should tell you what our nation's economic priorities are.

I read somewhere the top managers pay to the average drone in the 70's was 25 to 1, now it is over 200 to 1.