Deere & Co. continued to rake in record profits this fall, and the company expects to make even more next year...Job elimination to go on as scheduled
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Nothing you said is opposing anything ive said.
And nothing you said changes the fact that when John May took over Deere, they had a market cap of ~$52B. They now have a cap of $133B. No matter how skilled they are, there isnt an assembler or machinist on the planet that can add that much value in 3 years. Theyre both reliant on each other, but the pool of replacements for one side is much larger than the other.
Nothing you said opposes anything of what Riley said, nor points made by Tarheel.
Since im the one making the points, im fine with that.
If you want to keep feigning outrage over statements not made, knock yourself out.
Why would I oppose what riley said? I dont disagree - theyre just points not germane to the discussion. Might as well say "donuts are delicious" or "sunshine is good". Both true, but irrelevant statements.
They are the discussion. You just missed or ignored it. The overriding point on all of this is corporations and their executives don't give a shit about employees, they only care about lining their own pockets and those of other shareholders. And they are able to do this easily and consistently with very little personal risk but have no issue with undermining their employees. All the while claiming "employees are our biggest asset" which rubes like you eat up.
And then we have shills like you who complain about employees working together to gain some leverage to get a share of the massive profits and better working conditions. All you care about is your stock price. Very typical selfish conservatism.
Let me help you out, here. Your basic point is in defense of the CEO salary that has exploded over the last ≈50 years while the "assembler or machinist" pay has basically remained unchanged, is it not?
I will continue on as if this is, in fact, the gist of your point.
First, let's assume your argument in defense of the CEO salary explosion is correct — that no assembler nor machinist can affect the market cap as your example quantifies. While this may be true, there are a couple flaws as I see things.
1) This argument may have been EVEN MORE TRUE 50 years ago. Given the increased complexity of widgets (in many cases), the training to make widgets may also have become more complex.
2) This argument assumes a 1:1 ratio. Which is weird when you give it a little thought. Who, truly, adds more value to an entity? Is it the one person at the top? Or even the 10 people at the top? Or is it all the people below? Sure, one assembler or machinist may not add value commensurate to a CEO, but, it's worth arguing, 500 or 5000 (or whatever number is meaningful to you) assemblers and machinists may have a value-add worth measuring against that of a particular CEO. It's also ABSOLUTELY ARGUABLE that it is EASIER to find a replacement CEO than it is to replace 500 or 5000 well-trained assemblers and machinists.
Look at me, a silly "lib", arguing in favor of the worker over the "elite"!
Again, have I ever stated anything to the contrary? (That's rhetorical, I haven't).
Employees are more than welcome to participate in the stock purchase and reap all the benefits from those profits.
John May has added exponentially more value than his salary commands. His salary is not impacting the laborers whatsoever. Employees are more than welcome to sit out and demand more, but no complaints when that shows many of them are replaceable - especially in a cyclical industry.
Nope. Wrong assumption, but thanks for asking. Sorry you had to go through all that writing on a false premise.
Donuts aren't delicious? Well now we know you're just being intentionally obtuse.
Employees can buy, executives are given stock. That's a HUGE difference you want to ignore as well. And there is no way to tell what John May's direct impact has been - for all we know they could have done better with someone else. Perhaps at a lower cost.
May and the other BoDs get to vote for their compensation packages, bonuses, etc. yet they (and you) balk at the employees working together to negotiate for better wages and working conditions. This all clearly demonstrates your hypocrisy as well as the executives.
Wondering if Deere is actively looking for a replacement for May - I mean, there are undoubtedly others capable of doing his job for less money.
What are you blathering about now? He's performed amazingly (hence the entire point of the discussion). Pay attention.Wondering if Deere is actively looking for a replacement for May - I mean, there are undoubtedly others capable of doing his job for less money.
Given as in part of their compensation. Using your logic, laborers are given money.
And we got to see what "someone else" did - it didnt go well.
Again, they have my full support if that want to go to the sidelines and demand more. However, that is a gamble they know the risks of. One risk being it shows what positions are replaceable and which are not.
Nope, im not. I dont care about the CEO compensation. LIke I said, May could give his entire cash salary to the employees and theyd all pocket about $100 post tax. Its irrelevant.
LOL...CEO's have demonstrated time and again that they are replaceable. The difference is they set themselves up with multi-million dollar severance packages agreed to by the "independent" BOD. CEO's who have run companies into the f'n ground have walked away with tens or hundreds of millions of dollars in compensation.
CEO of Yahoo!, Carol Bartz, received a severance package worth at least $10.4 million when she was fired in 2011.
Roger Ailes received $40 million in severance following his departure as CEO and chairman of Fox News. His departure followed a lawsuit in which Gretchen Carlson, former host of “Fox & Friends,” made sexual harassment allegations.
Hank McKinnell of Pfizer received $188 million in severance pay. He also received a pension package worth $161 million. During his 5 years with Pfizer, the company lost $140 billion. Five whole years.
Bob Nardelli was CEO of Home Depot. He received a severance package of $223 million after working for the company 6 years delivering consistently poor results. At least he worked six years for his $223,000,000
Bill Maguire, former CEO of United Health, collected $286 million when he “retired.” He was found guilty of backdating stock options to make extra money and was fined heavily and forced to leave in 2006.
Yeah...they were looking out for the best interests of the stockholders. <insert rolling eyes gif>
You have no point. Take. A. Knee.
LOL - the company has performed well, you have no idea if he has had much, if anything, to do with it that someone else couldn't have as well. You're such a hack. LOL.
And employees are not given stock as part of their compensation. Another point you miss. To partake in the profits of the company they have to buy in separately.
And you just claimed Deere's business is cyclical so there will be ups and downs. May happened to catch the up years. It's like you don't even pay attention to what you say.
That's a good idea for everyone.
The only motivation I can think of for notlongago is that he loves being flogged.
Yup, and others, like the one we're talking about in this thread, have taken $50B companies and turned them into $130B companies. Why can't you stay on topic?
Now you're just repeating things Ive already said as if it's some revelation to you. Glad I could help, but you don't need to repeat me.
You're either doing the gaslighting/trolling thing, or you're dumb AF.
Very Trump like - take what has been argued to defeat your position and claim it for your own. Not very original.
They don't care about "shareholders". They have the large institutional investors - who they are in bed with - they have to take care of and they want to take care of their own stake but they don't give two shits about any small individual investors.
Well thats the beauty of the markets. An "investors" value per share is the same as mine and yours. So whether they "care" or not does not matter. They are beholden to them just the same.
LOL...so now you're going to tell us that they don't self-deal to their own benefit and to the detriment of the small investor. I already posted the story of a CEO who back-dated stock options. You think they don't all look for ways to game the system? I notice, BTW, that you have again pointedly ignored a previous post...see #183 and opine please, on how a CEO who runs a company into the ground gets hundreds of millions of dollars as a severance package? You think a guy who knows he's getting $300,000,000 if he gets FIRED gives a fvck about shareholders? Two possibilities...you are either the dumbest or most gullible poster on HORT. Possibility three...you are both.
Not even close. Medicare sets the rate which is price fixing. All insurance companies negotiate rates as a percentage of Medicare. People aren't charged what services are worth. I save your life by taking out your kidney cancer and make $1350. You survive another 20+ years. What's that worth to you? Yet we bitch about Taylor Swift Tickets and pay KF some crazy number to coach football.
Conversion factor is the rate Drs. get paid which has been cut since the late 80s. Green is indexed to what it would be if we just kept up with inflation. People wonder why doctors are quitting in droves.
Medicine’s great resignation? 1 in 5 doctors plan exit in 2 years
Survey of 20,000-plus doctors, other health professionals finds many plan to leave current practice or cut back hours within two years. Learn more.
www.ama-assn.org
You should have done something meaningful, like butt lifts.Not even close. Medicare sets the rate which is price fixing. All insurance companies negotiate rates as a percentage of Medicare. People aren't charged what services are worth. I save your life by taking out your kidney cancer and make $1350. You survive another 20+ years. What's that worth to you? Yet we bitch about Taylor Swift Tickets and pay KF some crazy number to coach football.
Conversion factor is the rate Drs. get paid which has been cut since the late 80s. Green is indexed to what it would be if we just kept up with inflation. People wonder why doctors are quitting in droves.
Medicine’s great resignation? 1 in 5 doctors plan exit in 2 years
Survey of 20,000-plus doctors, other health professionals finds many plan to leave current practice or cut back hours within two years. Learn more.
Must be fun to get paid almost half a mil to attend a few superficial meetings and decide how much the company can to afford to buy back its own stock.
Not if those shares are given to them. Or optioned at a low price. JFC - is there anything you're not ignorant about?
