If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Bee (UK))   Today is Fat Cat Wednesday, when the boss of your company will earn more than you will this entire year. You'll always have Caturday, though   (thebee.co.uk) divider line 41
    More: Interesting, aviation accidents and incidents, household debt, Virgin Media  
•       •       •

1093 clicks; posted to Business » on 08 Jan 2014 at 9:25 AM (46 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



41 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-01-08 09:29:19 AM  
I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.
 
2014-01-08 09:37:38 AM  
That's for the UK. It prob hit January first in America.
 
2014-01-08 10:10:39 AM  
They take all the risk!

All that responsibility!

Top talent!
 
2014-01-08 10:21:23 AM  

MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.


I remember all those riches to rags stories that came out of the 2008 crash. People had to enroll their children into less prestigious private schools!
 
2014-01-08 10:23:51 AM  

James!: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

I remember all those riches to rags stories that came out of the 2008 crash. People had to enroll their children into less prestigious private schools!


And sell their vacation homes.
 
2014-01-08 10:24:02 AM  

MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.


Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.
 
2014-01-08 10:35:50 AM  

realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.


Yes.  Because the end-game strategy for everybody who puts their ass(ets) on the line to open a business is to destroy it.
 
2014-01-08 10:42:27 AM  

AllYourFarkAreBelongToMe: realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.

Yes.  Because the end-game strategy for everybody who puts their ass(ets) on the line to open a business is to destroy it.


You're thinking small business owners.  But once that small business grows and is acquired by a multinational firm whose executives will see a small uptick in their profitability by cutting it into small chunks and burying those chunks in the ground then they'll do that in a heart beat.
 
2014-01-08 10:45:04 AM  

MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.


You do know that corporations exist to limit liability in exactly those sort of situations?

Yes, he will lose his source of income and what he invested if it goes under, but his personal assets are secure (to the extent he doesn't plow them into the company).
 
2014-01-08 10:50:37 AM  
Hah!  Mine happens to work out to March 9th!  I really didn't think it would be that long...  Full disclosure:  private higher ed.  SMALL private higher ed.

/arsehole still lives almost expense-free even before his salary (car, house, insurance, all paid for, etc., plus $500 a month in food)
//needs to take a cut to $1 until we get our first COLA in 8 years...
///still watching my disposable income / savings rate shrink from 12% in 2006 to almost nothing while he literally makes millions
 
2014-01-08 10:54:50 AM  
I work at a small company, so the owner is down the hall (hi, boss!). I think he only makes 5-10x what I do (which ain't peanuts to start with). I'd say that's the limit of where we want the disparity to be.

I've said it a bunch before: if the 1% devoted a fraction of the time they spend devising their own compensation and tax avoidance schemes to devising these for their workers - or better yet, simply pay them more - we could shave many percentage points off of inequality. AND probably get bet employee loyalty to boot (that's a 2-way street, guys).

// well, he's the nominal "owner" - he's got VC guys and other partners, so he's not making decisions on his own
// bonus: medical device company, so OBAMATAX gonna TERK MAH JERB
// not really; we're in hiring mode
 
2014-01-08 11:05:14 AM  
I think I have to wait until June sometime.
 
2014-01-08 11:12:42 AM  

MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.


They have you trained well.
 
2014-01-08 11:14:20 AM  

AllYourFarkAreBelongToMe: realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.

Yes.  Because the end-game strategy for everybody who puts their ass(ets) on the line to open a business is to destroy it.


He may lose some investment money, but the business isn't tied to his personal income or assets.
 
2014-01-08 11:17:21 AM  

Dr Dreidel: I work at a small company, so the owner is down the hall (hi, boss!). I think he only makes 5-10x what I do (which ain't peanuts to start with). I'd say that's the limit of where we want the disparity to be.



That's where things used to be.

And I bet your boss is hands-on and knows how to actually do what the company does.
 
2014-01-08 11:22:24 AM  
Our CEO won't earn more than our lowest-paid employee all year. He took a vow of poverty, and he meant it. Pope Francis would be proud (even if he's from a rival order).
 
2014-01-08 11:28:57 AM  
My bosses only make about 4X what I make.  Small business wins every time
 
2014-01-08 11:42:41 AM  

Great_Milenko: Dr Dreidel: I work at a small company, so the owner is down the hall (hi, boss!). I think he only makes 5-10x what I do (which ain't peanuts to start with). I'd say that's the limit of where we want the disparity to be.


That's where things used to be.

And I bet your boss is hands-on and knows how to actually do what the company does.


Without giving away too much, we're a medical-device company, and he is a physician trained in the specific type of medicine our device operates in.

And yes, would that more companies were run by people who know the industry (as opposed to people who know how to "maximize profit"), and who limited their pay/compensation to 10x what the junior staff makes.
 
2014-01-08 11:58:31 AM  
The big boss here only makes about three times what I make.

And good for him. I wouldn't want his job.

We now return you to your regularly scheduled wealth envy.....
 
2014-01-08 12:32:09 PM  

Rent Party: They take all the risk!

All that responsibility!

Top talent!



lol

inherited it from Family.
 
2014-01-08 12:32:48 PM  

James!: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

I remember all those riches to rags stories that came out of the 2008 crash. People had to enroll their children into less prestigious private schools!



it was tough all over.   lol
 
2014-01-08 12:33:09 PM  
I get paid more than my boss.  It turns out that electrical engineering is a valuable skill.
 
2014-01-08 12:33:33 PM  

squegeebooo: James!: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

I remember all those riches to rags stories that came out of the 2008 crash. People had to enroll their children into less prestigious private schools!

And sell their vacation homes.



when you see someone with 5 houses lose two of them,  you know things are tough in america.
 
2014-01-08 12:35:05 PM  

realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.



true.  the Owner has plan b, and c, and d that lowly employee knows nothing about.   ignorance is bliss.
 
2014-01-08 12:36:20 PM  

AllYourFarkAreBelongToMe: realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.

Yes.  Because the end-game strategy for everybody who puts their ass(ets) on the line to open a business is to destroy it.



happens more often than you know.  the top gets the payoff and everyone else loses their jobs.  you are naive.  do some googling and reading.
 
2014-01-08 12:37:11 PM  

Great_Milenko: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

They have you trained well.


he's hooked, reeled in, and sinkered.
 
2014-01-08 12:38:39 PM  

NewWorldDan: I get paid more than my boss.  It turns out that electrical engineering is a valuable skill.



enjoy it and hope they don't find a dude in India who is as good as you but half the cost, and doesn't need piss breaks.  oh, and try not to take much vacation.  they notice things like that.
 
2014-01-08 01:29:38 PM  

Great_Milenko: AllYourFarkAreBelongToMe: realmolo: MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.

Wow, you're  naive.

HIS assets are going to be fine no matter what. You're the one that is going to lose his job if the owner decides he'll make more money by (figuratively) burning the company to the ground.

Yes.  Because the end-game strategy for everybody who puts their ass(ets) on the line to open a business is to destroy it.

He may lose some investment money, but the business isn't tied to his personal income or assets.


Wouldn't someone's investment money be a part of their overall assets?  Sure, a small fraction of their assets but still theirs.
 
2014-01-08 02:27:57 PM  
Our CEO is paid roughly 10x my salary... in salary.

Now, as far as stocks... not going there.
 
2014-01-08 02:32:23 PM  

phamwaa: Our CEO is paid roughly 10x my salary... in salary.

Now, as far as stocks... not going there.


That's where his wealth should be, though.  That ties him to the company's performance, rather than the big check he's getting every month.

From a compensation perspective, the CEO should be lowest paid guy, with the most equity.
 
2014-01-08 03:41:44 PM  

Rent Party: phamwaa: Our CEO is paid roughly 10x my salary... in salary.

Now, as far as stocks... not going there.
 
That's where his wealth should be, though.  That ties him to the company's performance, rather than the big check he's getting every month.

From a compensation perspective, the CEO should be lowest paid guy, with the most equity.


And that's working out pretty well. Except, the dude's gettin' old.
 
2014-01-08 04:12:41 PM  

Rent Party: phamwaa: Our CEO is paid roughly 10x my salary... in salary.

Now, as far as stocks... not going there.

That's where his wealth should be, though.  That ties him to the company's performance, rather than the big check he's getting every month.


Why? The CEO is just another kind of labor.
 
2014-01-08 05:12:22 PM  

rwdavis: Rent Party: phamwaa: Our CEO is paid roughly 10x my salary... in salary.

Now, as far as stocks... not going there.

That's where his wealth should be, though.  That ties him to the company's performance, rather than the big check he's getting every month.

Why? The CEO is just another kind of labor.


Because he is directly responsible to the board for the company's overall performance.    And his labor is the only labor responsible for that.
 
2014-01-08 05:38:59 PM  
And engineers are directly responsible for the creation of the product sold and their labor is the only labor responsible for that. The only difference is a company can function without somebody at the helm but can't function without the people making product/performing the service. CEOs should make a bit more than untrained labor but not more than most trained labor, the simply do not perform a critical function at the company and the market supply/demand does not favor paying them more. Eventually the initial capital investment by the board is paid off and they should be ignored.
 
2014-01-08 05:47:20 PM  

rwdavis: And engineers are directly responsible for the creation of the product sold and their labor is the only labor responsible for that.


You are entirely wrong.  Engineers are a resource that are brought on or off in order to meet business needs.

They are not the business, even in an engineering firm.  The only guy that is is the CEO.

The only difference is a company can function without somebody at the helm but can't function without the people making product/performing the service. CEOs should make a bit more than untrained labor but not more than most trained labor, the simply do not perform a critical function at the company and the market supply/demand does not favor paying them more. Eventually the initial capital investment by the board is paid off and they should be ignored.

That's pretty fancy, man.  Make sure you tell your boss that when you get replaced by 10 guys in Bangalore.  It will be good for a laugh.
 
2014-01-08 05:52:26 PM  
It's not my fault capitalism doesn't favor bosses, it's also the reason we don't have capitalism.
 
2014-01-08 05:59:34 PM  
Today is Fat Cat Wednesday, when the boss of your company will earn more than you will this entire year.

The answer is obvious, isn't it? Raise some money, start a company, and become the fat cat yourself. That's what the undeserving fat cats you're working for did, so become their competition and rake off some of that easy fat cat money for yourself.
 
2014-01-08 06:29:43 PM  
My CEO's tax bill alone was 21 million Euros in 2012. His compensation is off the charts compared to company average...
 
2014-01-08 07:36:37 PM  

squegeebooo: That's for the UK. It prob hit January first in America.


It was the afternoon of Jan 2 for Canada.
 
2014-01-08 08:56:22 PM  

Rent Party: rwdavis: And engineers are directly responsible for the creation of the product sold and their labor is the only labor responsible for that.

You are entirely wrong.  Engineers are a resource that are brought on or off in order to meet business needs.

They are not the business, even in an engineering firm.  The only guy that is is the CEO.

The only difference is a company can function without somebody at the helm but can't function without the people making product/performing the service. CEOs should make a bit more than untrained labor but not more than most trained labor, the simply do not perform a critical function at the company and the market supply/demand does not favor paying them more. Eventually the initial capital investment by the board is paid off and they should be ignored.

That's pretty fancy, man.  Make sure you tell your boss that when you get replaced by 10 guys in Bangalore.  It will be good for a laugh.


There is no business case for personifying the business and that's not what CEOs do (otherwise they would be first on the chopping block during downsizing without fail). Do you think that if Walmart fired the Waltons and didn't replace them the business would collapse? No, it would go on pretty much as its gone for the last decade or so maybe slightly less efficiently.That difference in revenue, that's the maximum the Waltons should be compensated by Walmart (it should be less than that though due to supply and demand). Contrast that with an alternate scenario, Walmart fires all its warehouse floor workers and didn't replace them. Walmart would collapse in weeks (if not days). Therefore the warehouse floor workers are more critical and their total combined compensation should be higher than the Waltons by orders of magnitude.
 
2014-01-08 11:10:37 PM  

MugzyBrown: I don't mind the owner of the company who employs me making a lot of money.  After all if he's (actually they) isn't making money, then I don't have a job.

It's his ass(ets) on the line if we go under, not mine.


Until he raids your pension funds and sends up shiat creek in a leaky canoe.
 
Displayed 41 of 41 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report