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(Las Vegas Review Journal)   As casinos in Las Vegas lay off or furlough thousands of employees, a few executives will receive a much needed raise to help them and their families make ends meet during this difficult time   (reviewjournal.com) divider line
    More: Murica, Sheldon Adelson, Las Vegas Sands, Management occupations, Station Casinos, Frank Fertitta III, base salary, Salary, CEO Tom Reeg  
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659 clicks; posted to Business » and Politics » on 01 Aug 2020 at 4:25 AM (2 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



15 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2 days ago  
The house always wins.

/Unless Donnie's in charge, of course
 
2 days ago  
It's the capitalist way! The less work you do, the more money you make.
 
2 days ago  
Hail Caesars!
 
2 days ago  
Executives get huge bonuses while workers lose their jobs.  This news story is right up there with "dog bites man".
 
2 days ago  
Is it ok if I take a moment to complain that Sheldon Adelson is a horrible person? Out of context?
 
2 days ago  
external-preview.redd.itView Full Size
 
2 days ago  
Fark CEOs, CFOs, and all management who make bank off the back of regular Joe's and Jane's of this world.
Bunch of parasites need to be eradicated
 
2 days ago  
That's what happens when business schools teach that the only responsibility of a corporation is toward shareholders
 
2 days ago  

bobobolinskii: Fark CEOs, CFOs, and all management who make bank off the back of regular Joe's and Jane's of this world.
Bunch of parasites need to be eradicated


Yes, because Jane's and Jack's could all run businesses so much better.
 
2 days ago  

casual disregard: Is it ok if I take a moment to complain that Sheldon Adelson is a horrible person? Out of context?


Actually it is out of context, since he doesn't have ownership in Caesars.  But nobody's arguing that he's a horrible person, so carry on.
 
2 days ago  
I think this is more simple than that.

Working when you are very rich is a pain in the ass. However, when your company is doing great, things are worth it. You can celebrate with friends get all kinds of press coverage as an amazing CEO and leader.

When things are bad, you don't get this. The ultra wealthy CEOs become flight risks. They don't need to work, so why not step away. This freaks out the board, so a pay raise or some additional compensation is needed to anchor them for the down turn.

Compare that to workers. They have to work in order to survive. The company needs to shift their losses somewhere. Since these people are dependent on their checks, it is much easier to shift it to them. You will lose a few, but probably have as many that increase their workload because they are now afraid they will be unemployed. Further, if this is a recession, then you will have a talent pool of workers that left their jobs or were laid off that are out there you can hire to fill vacancies for much less money.

The incentives and goals are completely different to these groups. There is clearly more than one America and I don't think any of this fits with our traditional definition of capitalism any longer. One group can spend years very comfortably sitting on their yacht, the other is reliant on their paycheck to survive the rest of the month.

Maybe this is some inverse funnel thing; money, power, bonuses go up and those at the wide end grasp for any grain of sand left.
 
2 days ago  
My company temporarily reduced exec salaries in an effort to save the company, while giving incentives to the peons, while we're mostly working from home. They seem to be making a concerted effort to make things work out, as opposed to looting the company and parachuting away.
 
2 days ago  

bfh0417: bobobolinskii: Fark CEOs, CFOs, and all management who make bank off the back of regular Joe's and Jane's of this world.
Bunch of parasites need to be eradicated

Yes, because Jane's and Jack's could all run businesses so much better.


Why not let all of them have a say? It's better than the class warfare we have going on right now.
 
1 day ago  

bfh0417: bobobolinskii: Fark CEOs, CFOs, and all management who make bank off the back of regular Joe's and Jane's of this world.
Bunch of parasites need to be eradicated

Yes, because Jane's and Jack's could all run businesses so much better.


The economy used to be merchant based, ie, Jane and Jack were merchants, like a tailor or butcher, even a local cook.

Then all this wealth and goods came from the America's.  Now certain people had the ability to make massive factories using simple labor due to large machines, with workers being replaceable to keep wages low, producing cheap goods.

Thus the industrial revolution was born.  I don't think Jane or Jack could run a slave factory very well when they're specialized merchants.

Point being sure Wal-Mart may move in and offer cheap prices, until the local businesses close, then those prices are gouged.  No i don't think Jack or Jane would do better than that, unless Jack or Jane is also as farking evil and soulless.

So instead of a culturally significant diverse economy, you have a few choices between which big mega corporation to choose from, that never has to give a fark about anyone, and is wealthy enough to fark you over and laugh in your face.

A merchant would go bankrupt over such a thing, since they rely on serving the local customers, providing a local reputation.  Wal-mart doesn't have to care about your small town, their culture or anything.

Yet, big numbers = good.  Big size = good.

And that's before we get into completely chosen destruction, like Sears, or Bains Capital.  The Sub Prime mortgage crises, the housing laws that create racial boundaries.

We lost the Merchant/big business war.  We never argue for a return to individual power.  Because it's long forgotten.  I mean Europeans hated Muslim merchants who controlled the far east trade, so yeah.
 
1 day ago  
runwiz
Executives get huge bonuses while workers lose their jobs.  This news story is right up there with "dog bites man".

nytmare
My company temporarily reduced exec salaries in an effort to save the company, while giving incentives to the peons, while we're mostly working from home. They seem to be making a concerted effort to make things work out, as opposed to looting the company and parachuting away.


Man bites dog.  This is newsworthy, at least in the US.
 
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