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(NPR)   Since 2000, CEOs of fast food chains have seen their salaries quadruple. Their employees, however, have seen their salaries decrease by a minimum of 1%   (npr.org) divider line 292
    More: Sick, fast food restaurant chains, CEO, reductions, proxy statement, Yum!, salary, Scott Stringer  
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5144 clicks; posted to Main » on 22 Apr 2014 at 9:46 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



292 Comments   (+0 »)
   
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2014-04-22 10:19:05 PM  
I appreciate those CEO's.      Fast Food places providing jobs,  and a good value for customers.

Much better than some ripoff place like Panera or TGIF.

In the lousy economic climate that Washington has helped to prolong, if those CEO's are still amking progit they deserve medals along with their millions.        They are keeping us afloat.
 
2014-04-22 10:19:09 PM  

king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.


A good CEO is nothing without the people who work in their stores.
 
2014-04-22 10:19:50 PM  

toadist: I appreciate those CEO's.      Fast Food places providing jobs,  and a good value for customers.

Much better than some ripoff place like Panera or TGIF.

In the lousy economic climate that Washington has helped to prolong, if those CEO's are still amking progit they deserve medals along with their millions.        They are keeping us afloat.


Jesus, the bootlickers sure showed up in force. Get a memo?
 
2014-04-22 10:20:17 PM  
They should incentivize corporations to have lower wage disparity somehow. Something like a .1% incentive off the top for every 1% above the minimum wage the lowest paid workers are paid.
 
2014-04-22 10:20:40 PM  

king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.


Objection: Facts not in evidence.

Counterpoint/rebuttal:
img.timeinc.net 

img.timeinc.net
graphics8.nytimes.com

Do you feel chastised enough, or should I introduce you to more examples?
 
2014-04-22 10:26:56 PM  

king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.


Apparently you entered a portal in 1980 and just now returned.

Here's what you missed... (true for the vast majority of CEOs, not all). CEO pay is rising faster than their returns to investors. Even companies that don't have an active CEO, like when they have an interim CEO continues to run and usually continues to grow. Basically the CEO is like a feudal lord. He's appointed to a position where he pays himself and rewards himself using math that has zero relation to his performance. They basically belong to a good-ole boys club where they all get raises no matter how they perform.

Taken as a whole, your average regional manager of a few convenience stores could probably run any Fortune 1000 company if they had to.
 
2014-04-22 10:29:07 PM  

toadist: I appreciate those CEO's.      Fast Food places providing jobs,  and a good value for customers.

Much better than some ripoff place like Panera or TGIF.

In the lousy economic climate that Washington has helped to prolong, if those CEO's are still amking progit they deserve medals along with their millions.        They are keeping us afloat.


Is this sarcasm?
 
2014-04-22 10:30:35 PM  

clancifer: It will all trickle down any day now.


Don't piss on me and tell me it's raining.
 
2014-04-22 10:30:49 PM  
Unfortunately, I do get coffee from Tim Hortons every day I am at work. The only other chain I eat at is Harvey's though, and even then less than once every month, and even then for their veggie burger. Not because I am a hipster (hipsters despise me), but because I think CEOs and shareholders of fast food chains should make their fortunes with their own bootstraps, and not because they depend on my help.
 
2014-04-22 10:30:58 PM  
As a shareholder of Yum brands for about 12 years, I say good job management. Price is up about 8-fold since then.

You guys should start your own corporations. Then elect yourselves to the board and pay everyone the same. See how that works out.
 
2014-04-22 10:31:18 PM  
Oh,  a salary decrease of 1%   Ooooooooo.    If you worked for HP or IBM (and many other companies) you may have taken a 15% pay cut.

Face it, the decline of Americas middle class is not even close to being over.     You have another decade at least.

Get used to it.
 
2014-04-22 10:32:04 PM  

TerminalEchoes: MrBallou: If those workers want a decent wage, they should study and all become CEOs themselves. They're just a bunch of losers.

I was going to say this but I'm too tired to put up with flaming. I know you were being sarcastic but I wasn't.


You're too lazy to accuse the workers of being lazy?
 
2014-04-22 10:32:10 PM  

Cubansaltyballs: king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.

Apparently you entered a portal in 1980 and just now returned.

Here's what you missed... (true for the vast majority of CEOs, not all). CEO pay is rising faster than their returns to investors. Even companies that don't have an active CEO, like when they have an interim CEO continues to run and usually continues to grow. Basically the CEO is like a feudal lord. He's appointed to a position where he pays himself and rewards himself using math that has zero relation to his performance. They basically belong to a good-ole boys club where they all get raises no matter how they perform.

Taken as a whole, your average regional manager of a few convenience stores could probably run any Fortune 1000 company if they had to.


This is what farklibs actually believe.
 
2014-04-22 10:32:18 PM  

demaL-demaL-yeH: king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.

Objection: Facts not in evidence.

Counterpoint/rebuttal:
[img.timeinc.net image 307x409] 

[img.timeinc.net image 307x409]
[graphics8.nytimes.com image 592x332]

Do you feel chastised enough, or should I introduce you to more examples?


Rick Wagoner was so good that he helped bankrupt one of the biggest companies in North America. That man can LEAD
 
2014-04-22 10:32:42 PM  

balial: Presumably the CEO's salary is up 4x because there's 4x the number of stores and responsibility he/she is presiding over. The there's ample opportunity for workers to do 4x the hours and get the same benefit.

Why is this even a question?


If that's your measurement, shouldn't the average employee's wage rise in line with "same store sales growth"????

What if the CEO's pay was tied to profits? Has the company's profits quadrupled? No? Than f*ck off.
 
2014-04-22 10:34:47 PM  

GoldSpider: What's with all the eat-the-rich circle-jerk threads today?


Today? Welcome to Fark.
 
2014-04-22 10:35:06 PM  

Cubansaltyballs: What if the CEO's pay was tied to profits? Has the company's profits quadrupled? No? Than f*ck off.


CEO pay is almost always tied to profits either directly or indirectly via stock price.
that's why they are so quick to hack jobs.
dropping jobs make the bottom line number look good in the short term
 
2014-04-22 10:35:54 PM  

Debeo Summa Credo: This is what farklibs actually believe.


Sorry if I'm not some bootlicking republican.
 
2014-04-22 10:36:46 PM  

mutterfark: GoldSpider: What's with all the eat-the-rich circle-jerk threads today?


[videos.videopress.com image 400x216]
When you can't eat any more sand, you eat the rich.


...Or wear them

adventurecampradio.com
 
2014-04-22 10:39:36 PM  

Sticky Hands: Cubansaltyballs: What if the CEO's pay was tied to profits? Has the company's profits quadrupled? No? Than f*ck off.

CEO pay is almost always tied to profits either directly or indirectly via stock price.
that's why they are so quick to hack jobs.
dropping jobs make the bottom line number look good in the short term


Stock price is not tied to profits. Sometimes they correlate, most times they don't.

But what about companies that don't really innovate or need to innovate? Like oil companies. You mean to tell me if the CEO of Chevron isn't there people are going to stop buying gasoline?
 
2014-04-22 10:39:39 PM  

Cubansaltyballs: Debeo Summa Credo: This is what farklibs actually believe.

Sorry if I'm not some bootlicking republican.


No, just some clown who thinks a manager of a few convenience stores could run GE or Morgan Stanley or International Paper.
 
2014-04-22 10:40:04 PM  

R5D4: Although I do support fast food workers earning more money, it should be noted that any amount they do earn does not effect the salaries of CEOs.

Worker's payroll comes from the owner/operators of the individual stores, which often operate on very thin margins.

The operators are paying royalties the corporation, (in significant percentages often on top of to contributing to national advertising funds).

The CEO is being paid by the corporation, which is basically sitting on top of the pyramid.


it was never implied that one affects the other, but the idea is that if the tide is rising, it should lift all boats, not just the yachts. The wealth gap is a real thing and it continues to get bigger.  This is another example of that.
 
2014-04-22 10:41:08 PM  

Debeo Summa Credo: Cubansaltyballs: Debeo Summa Credo: This is what farklibs actually believe.

Sorry if I'm not some bootlicking republican.

No, just some clown who thinks a manager of a few convenience stores could run GE or Morgan Stanley or International Paper.


Have you seen what the people at those companies have done in the last few decades? How could someone do it worse?

These CEOs are not Oracles or wizards. Most of them don't do sh*t.
 
2014-04-22 10:42:26 PM  
Oh, crap. Capitalist pig latin is here, isn't it?
Is it going to make up bullshiat excuses for idiotic executive compensation; perform ad-hominem attacks on farkers who both stayed awake through and understand basic macroeconomics, and who have a grasp on historical reality since, say, 1947; or just dismissively refer to people with common sense as liberals?

Somebody please tell it that no matter how lovingly, thoroughly, and gently it licks their arses, the plutocrats it defends will never, ever allow it in their club.
 
Skr
2014-04-22 10:42:47 PM  
Really enjoy the tasty Ham & Swiss on Rye w/ Spicy Mustard + French Baguette I get at Panera. Their CEO doesn't seem like a complete waste like most CEO's either.
 
2014-04-22 10:43:53 PM  

toadist: I appreciate those CEO's.      Fast Food places providing jobs,  and a good value for customers.

Much better than some ripoff place like Panera or TGIF.

In the lousy economic climate that Washington has helped to prolong, if those CEO's are still amking progit they deserve medals along with their millions.        They are keeping us afloat.


Go kill yourself please
 
2014-04-22 10:44:01 PM  

Debeo Summa Credo: Cubansaltyballs: Debeo Summa Credo: This is what farklibs actually believe.

Sorry if I'm not some bootlicking republican.

No, just some clown who thinks a manager of a few convenience stores could run GE or Morgan Stanley or International Paper.


Absolutely right. Great leaders need advanced degrees
 
2014-04-22 10:45:23 PM  

king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.


As a man who has to eat at resturantes on a regular basis I've got to ask you, are you sure about that?
 
2014-04-22 10:47:06 PM  

GoldSpider: What's with all the eat-the-rich circle-jerk threads today?


I read this headline and my reaction was the same as the other eat the rich headlines.  "And?".

 On this, give an avg profit per share, number of stores dif, profit per store, turns, pins, roi, and I will judge if the 4x is justified.  And then judge the avg base personnel via relevant criterion.  These are two differing judgments that does not affect the other.
 
2014-04-22 10:47:34 PM  

Debeo Summa Credo: No, just some clown who thinks a manager of a few convenience stores could run GE or Morgan Stanley or International Paper.



John C. Faraci? Seriously? One of the five most overpaid CEOs?
"International Paper lost 63% and $21 per share that same year, slightly better than Abercrombie. That did not stop CEO John Faraci from drawing a total of $28.2 million according to the report. As a means of maximizing his compensation - or as wags might say, a hedge in case he destroyed the company - Faraci reaped "$21 million in pension payments while still working at the company. Faraci, 59, has been CEO for six years." There was no comment on whether other IP employees were allowed to draw pensions while still actively employed."
 
2014-04-22 10:52:54 PM  
Just put frat boy on ignore. Feels good to weed out the trolls.
 
2014-04-22 10:54:24 PM  
It's a fact that wealth and power are being concentrated into a ever smaller group of people. For me the question is how long that is sustainable. And I think the answer is until it's too late.
 
2014-04-22 10:56:47 PM  
I case anyone hasn't done the math....

CEO make $22,000,000
Yum Brands has about 17,000 fast food stores (KFC, Taco Bell, Pizza Hut combined)
Assume there are ~10 fast food workers at each store.
Take every last dime from the CEO's compensation and divvy it up among the workers...

22,000,000/177000 =  and extra $124.30 per year.

Feel better yet...?
 
2014-04-22 10:56:52 PM  

jeremie: It's a fact that wealth and power are being concentrated into a ever smaller group of people. For me the question is how long that is sustainable. And I think the answer is until it's too late.


By "too late", do you mean Guillotine time?
If so, I share your concern.
 
2014-04-22 10:59:00 PM  
if Fark were instead a forum totally filled by CEOs this would get the Hero tag.
 
2014-04-22 10:59:18 PM  

Just another Heartland Weirdass: If you start paying the people who actually do the work then prices will get so high that they won't be able to buy the big macs they are making. Then everyone goes on welfare. If thats what you want you can move to Europe, but you should know my friend went there and said this guy told him he would rather live in the US because he had to wait in line to see a doctor once. If we weren't number one why would every person in the world want to live here.


sadly, i have met, and had to punch far too many americans who actually think like this. obviously you are trolling here, though...right?
 
2014-04-22 11:00:24 PM  

demaL-demaL-yeH: By "too late", do you mean Guillotine time?


The police/military/mercenaries will ensure that never happens.
 
2014-04-22 11:01:46 PM  

TerminalEchoes: MrBallou: If those workers want a decent wage, they should study and all become CEOs themselves. They're just a bunch of losers.

I was going to say this but I'm too tired to put up with flaming. I know you were being sarcastic but I wasn't.

I wouldn't worry about it. I'm sure most folks are ignoring you by now.
 
2014-04-22 11:02:08 PM  

Yeah_Right: I case anyone hasn't done the math....

CEO make $22,000,000
Yum Brands has about 17,000 fast food stores (KFC, Taco Bell, Pizza Hut combined)
Assume there are ~10 fast food workers at each store.
Take every last dime from the CEO's compensation and divvy it up among the workers...

22,000,000/177000 =  and extra $124.30 per year.

Feel better yet...?


The $22,000,000.00 would be better spent researching how to keep the inner hard shell crunchy on their multi-layered taco things.
 
2014-04-22 11:02:19 PM  
Cheer up fast food workers. As usual, upwards pressure on wages will accelerate the drive towards mechanization and automation.  In 20 years fast food worker wages won't be a problem any more since there will only be a dozen or so in the country.

Gas pump jockeys were first, right now it's grocery store checkout clerks, and soon it will be burger flippers.

As a side note, if you disapprove of a company's business practices, be it CEO salary, wages paid to their employees, or their stance on the environment or gays:  don't shop there.
 
2014-04-22 11:06:23 PM  

MustardTiger: mutterfark: GoldSpider: What's with all the eat-the-rich circle-jerk threads today?


[videos.videopress.com image 400x216]
When you can't eat any more sand, you eat the rich.

...Or wear them

[adventurecampradio.com image 850x641]


Would you incorporate me? I'd incorporate me. I'd incorporate me hard. I'd incorporate me so hard.
 
2014-04-22 11:08:32 PM  

Cubansaltyballs: Sticky Hands: Cubansaltyballs: What if the CEO's pay was tied to profits? Has the company's profits quadrupled? No? Than f*ck off.

CEO pay is almost always tied to profits either directly or indirectly via stock price.
that's why they are so quick to hack jobs.
dropping jobs make the bottom line number look good in the short term

Stock price is not tied to profits. Sometimes they correlate, most times they don't.

But what about companies that don't really innovate or need to innovate? Like oil companies. You mean to tell me if the CEO of Chevron isn't there people are going to stop buying gasoline?


 Stock prices are absolutely tied to profits, or better put "expectations of future profits".

as far  as CEOs go, it's more a strategic job than anything else, especially in an oil company's case, gotta find some way to get into countries, drill where you could not, and keep the subsidies rolling in.

All companies need to innovate. If you don't you are toast. Look at the above examples of Sears/K-mart, that company just needs to be put out of it's misery.

I'm not saying these CEOs are worth 100M a year or anything like that ( maybe a Steve Jobs at just the right moment is ) , but I bare no grudge against the successful ones. And it's hard to get working up about the CEO of McDonalds earning 7 million, there are nearly 100 players that earn more than that in the NBA alone. And that is not counting endorsements.


That said, golden parachutes and similar bullshiat should not be allowed. You play with the big boys and get paid massive amounts to show up, fine, you fark up,  you are out on your ass without a penny more. like a big boy.
 
2014-04-22 11:09:08 PM  
I can't bring myself to care what CEOs make.  But I think it's interesting that so many people do with such passion.
 
2014-04-22 11:09:49 PM  

king_nacho: a good CEO that can run a large scale corporation is much harder to come by than a person that can create and serve food in a restaurant.


I guess that explains all the shiatty ones currently running the businesses.
 
2014-04-22 11:10:18 PM  
Since when does the CEO of these corporations set the wages of employees that are part of a FRANCHISE? They don't. That is up to the owner of said franchise. Just sayin'. Crappy analogy to tug at our heart strings.
 
2014-04-22 11:11:54 PM  

some_beer_drinker: Just another Heartland Weirdass: If you start paying the people who actually do the work then prices will get so high that they won't be able to buy the big macs they are making. Then everyone goes on welfare. If thats what you want you can move to Europe, but you should know my friend went there and said this guy told him he would rather live in the US because he had to wait in line to see a doctor once. If we weren't number one why would every person in the world want to live here.

sadly, i have met, and had to punch far too many americans who actually think like this. obviously you are trolling here, though...right?


Yes im trolling. There were several hints in there but apparently demal is in a blind rage. Oh well.
 
2014-04-22 11:12:17 PM  
It's a sad fact that some people just have more value than others.

Subby's comparing Hot Apple Pies with Hi-C Orange Drink here.
 
2014-04-22 11:14:17 PM  

Just another Heartland Weirdass: If you start paying the people who actually do the work then prices will get so high that they won't be able to buy the big macs they are making. Then everyone goes on welfare. If thats what you want you can move to Europe, but you should know my friend went there and said this guy told him he would rather live in the US because he had to wait in line to see a doctor once. If we weren't number one why would every person in the world want to live here.


They've done the math. Prices would rise less than five percent
 
2014-04-22 11:14:19 PM  

Lokkii: Cheer up fast food workers. As usual, upwards pressure on wages will accelerate the drive towards mechanization and automation. In 20 years fast food worker wages won't be a problem any more since there will only be a dozen or so in the country.

Gas pump jockeys were first, right now it's grocery store checkout clerks, and soon it will be burger flippers.


Good.  I'm all for a society where all the mindless drudgery is done by machines and a guaranteed basic income that can allow as many people as possible to focus on creative pursuits that will increase the number of artistic and technological breakthroughs.
 
2014-04-22 11:14:23 PM  

Lokkii: Cheer up fast food workers. As usual, upwards pressure on wages will accelerate the drive towards mechanization and automation.  In 20 years fast food worker wages won't be a problem any more since there will only be a dozen or so in the country.

Gas pump jockeys were first, right now it's grocery store checkout clerks, and soon it will be burger flippers.

As a side note, if you disapprove of a company's business practices, be it CEO salary, wages paid to their employees, or their stance on the environment or gays:  don't shop there.


It's getting to the point, then, of where do you shop? Sure, there's companies like Costco, but more and more, they are the exception rather than the norm.
 
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