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(BBC)   Switzerland is about to prove that keeping robber barons from stealing the money of the common man won't actually destroy the economy. Bonus: dishonest CEOs will go to prison   (bbc.co.uk ) divider line
    More: Cool, corporate governance, Companies of Switzerland, executive pay  
•       •       •

2038 clicks; posted to Business » on 05 Mar 2013 at 7:36 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-05 07:04:43 AM  
And we used to criticize Switzerland for being run by bankers.
 
2013-03-05 07:42:37 AM  
I doubt anything like that would ever pass here.
 
2013-03-05 07:47:16 AM  
Good for them.
 
2013-03-05 07:48:11 AM  
How this will go in America:

"Executive compensation is ridiculous"

"Nice economy you've got there. Be a shame if something happened to it."

"You already crashed it, asshole."

"I'll give you a dollar to STUF."

"Ok."
 
2013-03-05 07:52:33 AM  
Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.
 
2013-03-05 07:53:51 AM  
considering team owners in the USA pays morans a king's ransom to play childrens games, no, we won't see this happening to corporate executives real soon.
 
2013-03-05 07:55:34 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Rockefeller comes to mind.
 
2013-03-05 07:59:33 AM  
Vanderbilt

Carnegie

That fat guy with 6 chins that runs Exxon

The list goes on...
 
2013-03-05 08:01:23 AM  
dailypicksandflicks.com

/hot
 
2013-03-05 08:06:09 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


media.comicvine.com
 
2013-03-05 08:07:52 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


How about the CEO of HSBC?
 
2013-03-05 08:12:18 AM  
Eh, if you redistribute wealth all you are going to have is a bunch of entitled-filled schlubs with really nice TVs, more education than they could possibly need and a half-interest in a Seadoo.
 
2013-03-05 08:13:26 AM  

s1ugg0: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

How about the CEO of HSBC?


He said "stole", as in extrajudicial taking. The pay of the HSBC dude was set by the board, which is perfectly legal.
 
2013-03-05 08:17:32 AM  
I'm gonna bet they've got some pretty tight campaign finance restrictions.

/ citizens united ftl
 
2013-03-05 08:24:37 AM  

WhyteRaven74: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Rockefeller comes to mind.


Rockefeller drove the price of kerosene (the primary petroleum distillate at the time) down 90%. Millions could then afford to heat and light their homes. He did more good for Americans' standard of living than practically any other person in the country's history. You're going to have to come up with a better example.
 
2013-03-05 08:49:01 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Did you really go there?

Really?

/you get a special color now
 
2013-03-05 08:51:11 AM  

DrPainMD: WhyteRaven74: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Rockefeller comes to mind.

Rockefeller drove the price of kerosene (the primary petroleum distillate at the time) down 90%. Millions could then afford to heat and light their homes. He did more good for Americans' standard of living than practically any other person in the country's history. You're going to have to come up with a better example.


JP Morgan. There's entire books written on that farkers greed.  Not that YOU have read any of them....
 
2013-03-05 08:56:50 AM  

SevenizGud: s1ugg0: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

How about the CEO of HSBC?

He said "stole", as in extrajudicial taking. The pay of the HSBC dude was set by the board, which is perfectly legal.


He made is salary by committing fraud.  He stole from someone.
 
2013-03-05 08:57:18 AM  
3.bp.blogspot.com
But what about the Robber Button?
 
2013-03-05 09:31:20 AM  
Switzerland also proves that very high rates of gun ownership, particularly assault rifles, doesn't mean that gun crime has to be a huge problem.  Maybe we should be like Switzerland
 
2013-03-05 10:26:48 AM  
It's okay if Switzerland does this because there are no blah people that might benefit.
 
2013-03-05 10:32:05 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Depending on how liberal a definition of "steal" you use, my answer ranges from "all of them" to "most of them".

Paying someone less than you know them to be worth is a kind of stealing. Not profit-sharing (either at the micro level within your company or at the macro level, where the 1% doesn't share their gains with the rest of the class) with the employees who sacrifice ever-more to satisfy the corporate demand is a kind of stealing. Rescinding benefits without remuneration - ending work-from-home, enacting furloughs, cutting sick leave/paid vacation - is a kind of stealing.

None of those is against the law, however - morality has no place in business, and whatever makes you money is by-definition good.
 
2013-03-05 10:33:24 AM  

moel: [3.bp.blogspot.com image 399x300]
But what about the Robber Button?


i'll be back before you can say "antidisestablishmentarianism."
 
2013-03-05 10:40:22 AM  

Dr Dreidel: Depending on how liberal a definition of "steal" you use, my answer ranges from "all of them" to "most of them".


^ This.
 
2013-03-05 10:40:46 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Just one? Angelo Mozilo.
 
2013-03-05 10:50:35 AM  
This is gonna be one of those threads that's great for "favoriting" people as DERP or good.
 
2013-03-05 10:52:06 AM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Do you get cramps from sucking that much d*ck?
 
2013-03-05 11:31:31 AM  
www.regentsprep.org
The income inequality that is present in the USA was only here in the 1900s up to the Great Depression.
Society does not just function for the benefit of the 1%.
Without a middle class, there is no modern economy (educated jobs for high skilled professionals).
 
2013-03-05 12:11:52 PM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Who can keep track?  I seem to remember a Ken Skilling?  Or was it Arthur Fastow?  Jeffrey Andersen?  It probably doesn't matter.
 
2013-03-05 12:47:00 PM  
I don't see how the reforms are in any way connected to robber barons.
 
2013-03-05 12:53:22 PM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Name JUST one? Impossible.
 
2013-03-05 05:10:34 PM  

BEER_ME_in_CT: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Name JUST one? Impossible.


They're like a Pringle's can
i.chzbgr.com
 
2013-03-05 06:11:35 PM  
If executive pay gets too severely restricted, you can expect one of the following: 1) companies will go private, 2) companies will list themselves somewhere other than Switzerland, or 3) companies will find themselves headed by second- or third-tier talent while the best managers go to 1) or 2).
 
2013-03-05 07:18:08 PM  

bhcompy: Switzerland also proves that very high rates of gun ownership, particularly assault rifles, doesn't mean that gun crime has to be a huge problem.  Maybe we should be like Switzerland


The Swiss also believe in education and fair play. That makes a big difference.
 
2013-03-05 07:19:57 PM  

toomuchwhargarbl: It's okay if Switzerland does this because there are no blah people that might benefit.


There are black people in Switzerland.
 
2013-03-05 08:02:39 PM  

jjorsett: If executive pay gets too severely restricted, you can expect one of the following: 1) companies will go private, 2) companies will list themselves somewhere other than Switzerland, or 3) companies will find themselves headed by second- or third-tier talent while the best managers go to 1) or 2).


Harvard Business Review
http://hbr.org/2013/01/the-best-performing-ceos-in-the-world/ar/3

"On the whole, U.S. CEOs did not shine either, despite holding six of the top 10 slots. Their average rank was 215 places lower than Latin American CEOs', 140 places lower than Indian CEOs', and 137 places lower than British CEOs'. Continental European and U.S. CEOs ranked about the same. U.S. CEOs have not been as competitive on a global scale as one might think. "

Compensation seems divorced from performance. Cheaper CEOs seem to be outperforming on the global level.
 
2013-03-05 09:08:52 PM  

Precision Boobery: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Who can keep track?  I seem to remember a Ken Skilling?  Or was it Arthur Fastow?  Jeffrey Andersen?  It probably doesn't matter.


Appears Dr. Douche left here a while ago.
 
2013-03-06 12:46:41 AM  
As opposed to the US where every politician gives head to the robber barons or as opposed to the Chinese where the robber barons are the politicians.

And why haven't the families of the people who caused the economic downturn been executed?  Oh, it's because they were given bonuses by ALL the politicians.
 
2013-03-06 02:12:11 AM  

s1ugg0: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

How about the CEO of HSBC?


That article doesn't mention him stealing anything from anybody.
 
2013-03-06 02:18:53 AM  

Marcus Aurelius: DrPainMD: WhyteRaven74: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Rockefeller comes to mind.

Rockefeller drove the price of kerosene (the primary petroleum distillate at the time) down 90%. Millions could then afford to heat and light their homes. He did more good for Americans' standard of living than practically any other person in the country's history. You're going to have to come up with a better example.

JP Morgan. There's entire books written on that farkers greed.  Not that YOU have read any of them....


Don't change the subject. His greed isn't the issue; who did he rob?
 
2013-03-06 02:19:43 AM  

s1ugg0: SevenizGud: s1ugg0: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

How about the CEO of HSBC?

He said "stole", as in extrajudicial taking. The pay of the HSBC dude was set by the board, which is perfectly legal.

He made is salary by committing fraud.  He stole from someone.


The article also doesn't say that he committed fraud.
 
2013-03-06 02:24:15 AM  

Dr Dreidel: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Depending on how liberal a definition of "steal" you use, my answer ranges from "all of them" to "most of them".

Paying someone less than you know them to be worth is a kind of stealing. Not profit-sharing (either at the micro level within your company or at the macro level, where the 1% doesn't share their gains with the rest of the class) with the employees who sacrifice ever-more to satisfy the corporate demand is a kind of stealing. Rescinding benefits without remuneration - ending work-from-home, enacting furloughs, cutting sick leave/paid vacation - is a kind of stealing.

None of those is against the law, however - morality has no place in business, and whatever makes you money is by-definition good.


Paying a worker an amount THAT THE WORKER AGREES TO IN ADVANCE is stealing? Even after the worker keeps showing up for work every day KNOWING IN ADVANCE WHAT HIS PAYCHECK IS GOING TO BE? Ummm... no, that's not stealing. Stealing is taking someone's property against that person's will.

Let me guess: you make an exception to your definition of stealing when YOU buy something made in China by people making ten cents per hour, right? Or are you a thief, too?
 
2013-03-06 02:25:46 AM  

Speaker2Animals: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Just one? Angelo Mozilo.


He was a thief, but doesn't fit the definition of "robber baron."
 
2013-03-06 05:43:49 AM  

bhcompy: Switzerland also proves that very high rates of gun ownership, particularly assault rifles, doesn't mean that gun crime has to be a huge problem.  Maybe we should be like Switzerland


yes.
in Switzerland, those guns are registered, and not sold to psychos
Fear the swiss bureaucracy! (lived there)
 
2013-03-06 08:07:17 AM  

s1ugg0: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

How about the CEO of HSBC?


The uk is more corrupt than us even.
 
2013-03-06 03:47:46 PM  

DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.


Trump
 
2013-03-06 05:12:09 PM  

DrPainMD: Speaker2Animals: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Just one? Angelo Mozilo.

He was a thief, but doesn't fit the definition of "robber baron."


Ah, the Moving Goalposts riposte. Not terribly original.
 
2013-03-06 05:13:37 PM  

Speaker2Animals: DrPainMD: Speaker2Animals: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Just one? Angelo Mozilo.

He was a thief, but doesn't fit the definition of "robber baron."

Ah, the Moving Goalposts riposte. Not terribly original.


http://www.merriam-webster.com/dictionary/robber%20baron
 
2013-03-06 10:47:05 PM  

DrPainMD: Dr Dreidel: DrPainMD: Name one "robber baron" who ever stole any money from so much as a single "common man." Just one.

Depending on how liberal a definition of "steal" you use, my answer ranges from "all of them" to "most of them".

Paying someone less than you know them to be worth is a kind of stealing. Not profit-sharing (either at the micro level within your company or at the macro level, where the 1% doesn't share their gains with the rest of the class) with the employees who sacrifice ever-more to satisfy the corporate demand is a kind of stealing. Rescinding benefits without remuneration - ending work-from-home, enacting furloughs, cutting sick leave/paid vacation - is a kind of stealing.

None of those is against the law, however - morality has no place in business, and whatever makes you money is by-definition good.

Paying a worker an amount THAT THE WORKER AGREES TO IN ADVANCE is stealing? Even after the worker keeps showing up for work every day KNOWING IN ADVANCE WHAT HIS PAYCHECK IS GOING TO BE? Ummm... no, that's not stealing. Stealing is taking someone's property against that person's will.

Let me guess: you make an exception to your definition of stealing when YOU buy something made in China by people making ten cents per hour, right? Or are you a thief, too?


"Thief" would include every employee who keeps a job after his compensation is cut.  He was stealing before the cuts, when he worked knowing that he was getting more than the minimum he would  have charged.  Also, by the same reasoning, an honest person should never accept a pay raise or improvement in benefits.

Dreidel, you fail.
 
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