Isn't strange that in the US where "vampires suck the blood" out of vital companies, the unemployment rate is 5% and the standard of living is high and rising, while in Europe, where employees are "protected" from such harmful behavior, unemployment is 10% and the standard of living is lower and stagnant?
And how does this excuse bloodsucking the working person?
How does this justify cutting thousdands of decent and hardworkding people out of the workforce for excess bonus payments and salaries? How does this justify elimination of pensions, and cut backs in health care?
You cannot justify bad behavior by pointing at meaningless stats.
In the long term, companies like WTM are making the USA weaker- so a few rich can benefit.
Only those who enjoy the taste of blood could enjoy and approve of such behavior.
So just IMAGINE how well off we'd all be if the top 5% of American executives waived all compensation in excess of ten-times the average compensation of the other 95% of American workers, gave a nickel to their favourite charity every time their H.R. department fibbed to a new hire, and domiciled their corporations within U.S. tax jurisdictions!
"if the top 5% of American executives waived all compensation in excess of ten-times the average compensation of the other 95% of American workers," ....
Well, let's imagine. Lottery ticket sales will go up, I'm certain the local tavern owner will see a bit more income, Your local bookie will really appreciate the gesture too.
Now, if you tell me to IMAGINE mandatory pay down of credit card debt, mandatory 401k contribution (wait, we aren't smart enough to manage our own SS account), or perhaps a mandatory purchase of a durable good (besides a TV) I will get on board with you.
Are WTM Exec's overpaid ... Yes and No. Relative to others in the industry, or banking? Probably NO. Relative to the amount of work they accomplish ... Probably YES, else stock would be over $700.
If I'm bidding for the services of Heifer and Boston boy, I'll bid 5 cents. If I'm bidding for services of Jack, I'll bid 95 cents. With Jack I know I'll still see a return on my investment.
Why bet on Jack? ... because when I retire my shares will be converted into travel (airline jobs), home improvements (retail jobs), and other job creating expenditures. And that boys, is what its all about!