A Quote by Justin Welby
The pay of many of our top executives in big hundred companies in the U.K. is outrageous and even obscene.
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Many liberals argue that big U.S. companies don't really pay the top corporate rate. While this is sometimes true, it's mainly because, during recessions, companies lose money, and get a tax loss carryforward that temporarily reduces their effective rate. But during economic expansions, when profits rise, companies then do pay the top rate.
The details of the personal expenses that executives put on the company tab often are not known because loopholes in federal disclosure rules let publicly traded companies generally avoid disclosing the perks they give executives along with pay and stock options.
You can get a good handle on a company's culture before you even get inside the building. For example, when companies say, 'We value our employees' but have reserved parking spots, a private cafeteria, and over-the-top offices for the executives, that tells you more than any PR spin.
After my show and others like it began airing on TV, network executives started to see that there was a market for outrageous, over-the-top content.
When top executives get huge pay hikes at the same time as middle-level and hourly workers lose their jobs and retirement savings, or have to accept negligible pay raises and cuts in health and pension benefits, company morale plummets. I hear it all the time from employees: This company, they say, is being run only for the benefit of the people at the top. So why should we put in extra effort, commit extra hours, take on extra responsibilities? We'll do the minimum, even cut corners. This is often the death knell of a company.
Typical pay increases are not enough to motivate employees, but they are enough to irritate them. … Even when companies create seemingly significant pay differentiation between low and high performers, the actual cash increase is insufficient to sustain performance – or it drives the wrong behaviors. … Effective management is a system, not a pay plan. The mistake is that companies try to solve all their problems with pay.
Each quarter, Indian IT firms publish their results, and these are broadcast on CNBC. From the comfort of their boardrooms, executives say how many new employees have been added, how many more Fortune 500 companies have been signed up as clients, how many million-dollar companies were added, and so on.
One of the big failures for the big auto companies is that even the CEO and the top management often don't understand design and manufacturing. As a CEO, you have to make decisions; you need to have knowledge.
Too many talk about a company's leadership, referring to the senior most executives in the organization. They are just that: senior executives. Leadership doesn't automatically happen when you reach a certain pay grade. Hopefully you find it there, but there are no guarantees.
I want to see more companies do profit-sharing. If you help create the profits, you should be able to share in them, not just the executives at the top.
It's not reasonable for companies that have chief executives and board members who are paid very considerable sums to subsidise low pay through in-work benefits.
Today, a large part of Peru's revenues come from mining. Many big mining companies only pay income tax, but they extract minerals, they pollute the water. They don't give any form of compensation to the regions where those minerals are extracted and where they do the damage, forcing the state to help those regions. What my party Gana Peru is stating is that the mining companies will have to pay that compensation. That is called a royalty.
Now, we are seeing many of these same companies face the truth about their financial standing. Congress is faced with the challenge of reforming our accounting industry and holding corporate executives responsible for their actions.
In another time, another world, each studio made 200 movies a year and had 20 executives. Today, a studio makes less than 20 movies a year and has 500 executives. They own too many parking decks and too many billboard companies. They're awash in overhead, and it's pinning them down, and they know it.
Marketing executives like big budgets, as big budgets make it easier to grow the top line.
The basic problem is for a congressman or a president to get elected, they need obscene amounts of money. And the only place you can get obscene amounts of money is from Wall Street and the big corporations who benefit from shipping our jobs and our factories overseas - that's the fundamental political problem.
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