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(WTSP)   Lenovo CEO to 10,000 factory workers: "I get millions in bonus money, while you slave away on our assembly lines. So here's $3.5 million of it for you guys to split"   (wtsp.com) divider line 74
    More: Hero, lenovo, Lenovo CEO, HTC Corp., ThinkPad, IBM  
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4368 clicks; posted to Business » on 02 Sep 2013 at 2:21 PM (52 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-09-02 01:16:32 PM
That's less than $1.00 per day for the lucky recipients.  He still gets to keep the rest of his (as per article) $8.9million bonus for the rest of the year along with his multimillion salary.
 
2013-09-02 01:22:12 PM
$350 is an okay bonus and all, but not really news worthy.
 
2013-09-02 01:32:29 PM
Yah that's real heroic.
 
2013-09-02 01:34:30 PM
$350 is a pretty good bonus considering what those guys earn
 
2013-09-02 01:40:04 PM
It's a nice gesture by the CEO, most executives would never think about sharing their money with the front line employees.
 
2013-09-02 01:49:32 PM

Hollie Maea: $350 is an okay bonus and all, but not really news worthy.


That's assuming it was divided evenly... I'm betting it wasn't
 
2013-09-02 02:29:31 PM
I got a little choked up, does anybody have a tissue?
 
2013-09-02 02:30:29 PM
This is a step in the right direction. He'll be the last up against the wall when the revolution comes.
 
2013-09-02 02:33:54 PM
"Such a good humane boss, are you jealous?" read a message on the company's official feed

Workers are shamed by his humility.
 
2013-09-02 02:38:35 PM
Reward good behavior. It encourages more of the same.
 
2013-09-02 02:54:25 PM
Why that cheap bastard.

/YangYang
 
2013-09-02 03:08:26 PM
It is a decent, unexpected bonus in N. Carolina, but exceptional in China.

Though he is keeping the lions share, it is still nice to see him giving some back.
 
2013-09-02 03:09:59 PM
Warning:
Do not buy ideapads. My experience with one I got as a christmas gift has been... sub-par, to say the least.

*THINKPADS* still seem to be pretty robust. My ideapad is crap.
 
2013-09-02 03:13:21 PM
I guess it's better than nothing.

But it's also a little bit insulting. "Hey, I got a $3.5 million bonus for doing almost nothing, so you are going to get a $350 bonus for doing all the real work!"

Fark you.
 
2013-09-02 03:15:25 PM
3.bp.blogspot.com

Nice gesture, but you're still a hack.
 
2013-09-02 03:39:27 PM
FTFA: Yang Yuanqing, who is also Lenovo's chairman, will share $3.25 million from his bonus with some 10,000 staff in China and 19 other countries.

Submitter: Lenovo CEO to 10,000 factory workers: "I get millions in bonus money, while you slave away on our assembly lines. So here's $3.5 million of it for you guys to split"
 
2013-09-02 03:54:34 PM
Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.
 
2013-09-02 03:56:01 PM

Hollie Maea: $350 is an okay bonus and all, but not really news worthy.


It is compared to what other CEOs do.
"News" is made when one of them doesn't act like a total dick, much like news is made when after a decade of drought there's a flash flood. "Dick" is their normal state of being, so "not a dick" is newsworthy.
 
2013-09-02 04:17:13 PM
www.lasical.com
 
jgi
2013-09-02 04:34:32 PM
Can I join in on the Fark biatching?

It's probably just a tax write-off scheme for him! What a dick!
 
2013-09-02 04:50:35 PM
If CEOs read Fark threads:

Next time this guy gets a CEO bonus, he won't give it to any of his workers. In fact, he'll lay off 1,000 of them to "save money".  Thanks, Fark!
 
2013-09-02 05:01:05 PM
Never fear, Fark denizens. It's a Chinese CEO making sure his Chinese and other Asian employees are well taken care of, because $350 will go a very long way for most of them.

Rest assured, no American CEO has succumbed to this momentary lapse of judgement. No wage theft from American CEOs has occurred. No American workers will be unjustly rewarded with money that is best meant to trickle down through the economy by other means.

Carry on.
 
2013-09-02 05:14:15 PM
$1.2 million and awarded him a $4.2 million discretionary bonus and a $8.9

$14.3 million total (14 million? Are we sure this guy is a real CEO?)

// he essentially gave away about 23% of his income, the raw dollar amount doesn't seem like much, because we're used to CEOs getting bonuses and pay of dozens of millions.

// How many months of pay is $300 is a factory worker?
 
2013-09-02 05:15:16 PM

IlGreven: If CEOs read Fark threads:

Next time this guy gets a CEO bonus, he won't give it to any of his workers. In fact, he'll lay off 1,000 of them to "save money".  Thanks, Fark!


Yes. We so greedy. Whatever massah give us we dun' gon' be happy for from now on.

Which corporate cock do you suck as a means of employment?
 
2013-09-02 05:19:39 PM
http://www.forbes.com/lists/2012/12/ceo-compensation-12_rank.html

$14.3 million doesn't even put him in the top 100.
 
2013-09-02 05:25:19 PM
Good to see someone appreciates his employees.

Sucks that it is so rare that nobody thinks he could be trying to do the right thing.

This should be an example for other CEOs to follow. Nobody is going to expect someone to turn over their whole income. But paying a decent chunk of "excess" bonus money to the workers is a good practice and to be applauded, not mocked.
 
2013-09-02 05:25:33 PM
Its a nice gesture, but its the equivalent of me giving 10 of my friends $3 each.

I don't expect to see an article written about it.

/doesn't own $720 million worth of stock
 
2013-09-02 05:32:17 PM
I'm pretty sure that 300 dollars to your average assembly worker in China  (a lot of whom are actually migrants from Malaysia and Indonesia) is a lot of money.
 
2013-09-02 05:53:54 PM

keytronic: I'm pretty sure that 300 dollars to your average assembly worker in China  (a lot of whom are actually migrants from Malaysia and Indonesia) is a lot of money.



An article on The Register says it's about a months wage for the avg. factory worker.
 
2013-09-02 05:57:54 PM

SoundOfOneHandWanking: Its a nice gesture, but its the equivalent of me giving 10 of my friends $3 each.

I don't expect to see an article written about it.

/doesn't own $720 million worth of stock


$3 is a months wages for your friends?
 
2013-09-02 06:02:40 PM

TuteTibiImperes: It's a nice gesture by the CEO, most executives would never think about sharing their money with the front line employees.


Remember when Kingston Technologies was bought out for $1 billion, and the founders' thinking was that they never would have made it there without their employees, so they distributed $100 million as bonuses? That's how it should be. "Vision" is great and all, but it's your employees that make it happen.
 
2013-09-02 06:12:06 PM
Good for him. Always seemed to me that accepting multi-million dollar bonuses while the people who do the actual work get peanuts is basically spitting in their face.
 
2013-09-02 06:13:48 PM
Humane and China don't belong in the same sentence when it comes to work.  Never mind that the company has national security issues with their equipment(shades of Huawei?).

Shame that the sale of the IBM PCD wasn't blocked on national security grounds - given the widespread ban on them in classified settings.
 
2013-09-02 06:21:35 PM

SoundOfOneHandWanking: Its a nice gesture, but its the equivalent of me giving 10 of my friends $3 each.

I don't expect to see an article written about it.

/doesn't own $720 million worth of stock


Compared to the zero that 99.99% of other CEOs give out of their own pockets?  It's pretty unique.
 
2013-09-02 06:44:38 PM
Better than Rich Fairbank, Forbes.com's most overpaid CEO of 2012. He just laid a bunch of people off.
 
2013-09-02 06:55:30 PM

keytronic: I'm pretty sure that 300 dollars to your average assembly worker in China  (a lot of whom are actually migrants from Malaysia and Indonesia) is a lot of money.


Still doesnt diminish the point that it's more of a PR move than an actual gesture of kindness.

It might be a large amount of money to *them* but doesn't apply to First World nations.
 
2013-09-02 06:57:24 PM

Odoriferous Queef: keytronic: I'm pretty sure that 300 dollars to your average assembly worker in China  (a lot of whom are actually migrants from Malaysia and Indonesia) is a lot of money.


An article on The Register says it's about a months wage for the avg. factory worker.



Which is a pretty big bonus rate for anyone.  12% annual salary is a pretty damned good.
 
2013-09-02 06:58:30 PM

BafflerMeal: Odoriferous Queef: keytronic: I'm pretty sure that 300 dollars to your average assembly worker in China  (a lot of whom are actually migrants from Malaysia and Indonesia) is a lot of money.


An article on The Register says it's about a months wage for the avg. factory worker.


Which is a pretty big bonus rate for anyone.  12% annual salary is a pretty damned good.


Sorry math fail.  1/12th I meant.
 
2013-09-02 07:15:56 PM

skinink: Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.


It's isn't how much they get, it's the fact that somebody else gets more. Nobody should make more than anyone else. It's all luck of the draw that he makes so much, anyway. Lenovo could just haul some random individual off the line and make them CEO and get the same results, so let's pay everyone the same.
 
2013-09-02 07:29:16 PM

jjorsett: skinink: Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.

It's isn't how much they get, it's the fact that somebody else gets more. Nobody should make more than anyone else. It's all luck of the draw that he makes so much, anyway. Lenovo could just haul some random individual off the line and make them CEO and get the same results, so let's pay everyone the same.


But if everyone makes the same amount, how will we know whom to irrationally hate? Please tell us, we've been stockpiling all these pitchforks and guillotines.
 
2013-09-02 07:33:48 PM

jjorsett: skinink: Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.

It's isn't how much they get, it's the fact that somebody else gets more. Nobody should make more than anyone else. It's all luck of the draw that he makes so much, anyway. Lenovo could just haul some random individual off the line and make them CEO and get the same results, so let's pay everyone the same.


It's not that the CEO gets more. It's that he gets THOUSANDS OF TIMES MORE.

Anyone that thinks CEO pay has *anything* to do with their actual ability has no idea how the system actually works. It's rich people making each other richer. That's all it is. CEO isn't a job, it's a gift.
 
2013-09-02 07:43:25 PM

Felgraf: Warning:
Do not buy ideapads. My experience with one I got as a christmas gift has been... sub-par, to say the least.

*THINKPADS* still seem to be pretty robust. My ideapad is crap.


The thinkpads are still pretty awesome. I had an X! Carbon at my last job and that was a pretty awesome machine, albeit with a shiatty (imo) trackpad. A lot of people loved the overly sensitive trackpad on it, but usually just use a mouse on my laptops anyway.
 
2013-09-02 10:16:03 PM

realmolo: jjorsett: skinink: Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.

It's isn't how much they get, it's the fact that somebody else gets more. Nobody should make more than anyone else. It's all luck of the draw that he makes so much, anyway. Lenovo could just haul some random individual off the line and make them CEO and get the same results, so let's pay everyone the same.

It's not that the CEO gets more. It's that he gets THOUSANDS OF TIMES MORE.

Anyone that thinks CEO pay has *anything* to do with their actual ability has no idea how the system actually works. It's rich people making each other richer. That's all it is. CEO isn't a job, it's a gift.


Right, but people like Alex Rodriguez earn their $27 Million/year, right?
 
2013-09-02 10:30:43 PM

teto85: That's less than $1.00 per day for the lucky recipients.  He still gets to keep the rest of his (as per article) $8.9million bonus for the rest of the year along with his multimillion salary.


You're right. He should've kept it all and given no one ANYTHING.
 
2013-09-02 11:03:50 PM

lordargent: // How many months of pay is $300 is a factory worker?


How many months of pay is $300? Months? You don't get out much, do you?
 
2013-09-02 11:05:13 PM

thurstonxhowell: lordargent: // How many months of pay is $300 is a factory worker?

How many months of pay is $300? Months? You don't get out much, do you?


I should read the article or do basic logic before I post. Factory workers in Asia are a different thing than what I was thinking.
 
2013-09-02 11:10:08 PM
SoundOfOneHandWanking: Its a nice gesture, but its the equivalent of me giving 10 of my friends $3 each.

No, it's the equivalent of giving your friends 23% of your yearly income.

ImpendingCynic: Remember when Kingston Technologies was bought out for $1 billion, and the founders' thinking was that they never would have made it there without their employees, so they distributed $100 million as bonuses?

100m is 7 times more than what this guy made in a year.

Basically, at the end of the day, this guy gave away nearly 1/4th of his yearly income in a country that's not big on human rights or anything, and people are giving him shiat about it, whereas, if he didn't give out anything, we wouldn't have heard a damn thing about it.
 
2013-09-02 11:11:48 PM
thurstonxhowell: I should read the article or do basic logic before I post. Factory workers in Asia are a different thing than what I was thinking.

Yeah, when you have a country with 1.3 billion people, the cost of labor goes way down.
 
2013-09-03 12:20:44 AM

realmolo: jjorsett: skinink: Jeebus, for a $350 bonus per worker you guys are pretty pissy about it. If someone offered to give me $350 no strings attached, I wouldn't turn my nose up at it or ask, "Is that all?"

The CEO of my company I guess is more happy making layoffs than paying bonuses.

It's isn't how much they get, it's the fact that somebody else gets more. Nobody should make more than anyone else. It's all luck of the draw that he makes so much, anyway. Lenovo could just haul some random individual off the line and make them CEO and get the same results, so let's pay everyone the same.

It's not that the CEO gets more. It's that he gets THOUSANDS OF TIMES MORE.

Anyone that thinks CEO pay has *anything* to do with their actual ability has no idea how the system actually works. It's rich people making each other richer. That's all it is. CEO isn't a job, it's a gift.


There's a simple answer: If the board overpays the CEO, don't own the stock. Choose a company whose compensation policies are more in line with your thinking. That, or raise an angry mob of shareholders and elect your own board who will find a CEO who doesn't demand so much money and presumably will still guide the company competently. biatching about how much the execs make vs the workers is unnecessary when you can vote with your feet or shares.
 
2013-09-03 12:41:04 AM

lordargent: How many months of pay is $300 is a factory worker?


I know a clothing factory owner in Xintang. The average salary was about 2500 RMB a month or $408 USD at today's rates.

You also have to look at the typical worker's cost of living. Food is plentiful and cheap. I saw a kid's bike on sale for 120 RMB or about $20. Households are typically multi-generational. At the other end of the scale, an imported luxury car cost more than double the US price.

/this was in 2010
 
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