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Disney heir calls on company to give 50% of exec bonus to lowest-paid employees
- who-knows95 8y agowell, this is a breath of fresh air.
- r0n0j0y 8y agohttps://media.giphy.com/media/119SFXjoMsax6o/giphy.gif https://media.giphy.com/media/119SFXjoMsax6o/giphy.gif
- lotsofpulp 8y agoIf my goal was to advocate to pay employees more, I would just advocate for increasing their pay. Why should it be restricted to 50% of executive bonuses? Seems unnecessarily complicated, unless the goal was to attract headlines or not affect the bottom line numbers.
- yostrovs 8y agoDisney heir should give up her unearned wealth to the poor. The guy she's criticizing, that actually worked for his money, increased the value of Disney by many billions.
- qazpot 8y agoCalling her wealth unearned is disingenuous. Are you saying that children have no right to their parent's wealth.
- Mirioron 8y agoIt's not that she doesn't have the right to the wealth, but that she didn't work for it. The executive probably did.
- vertline3 8y agoIt's the Disney machine that really generates the windfall. Sure Iger steers the ship, keeps it from hitting the rocks, so it's worth compensating him highly. I just think some nuance is there.
- danielscrubs 7y agoIs there any books about ceos that came up with ingenious ideas to steer the company into profit that you would recommend? I’m interested in what a CEO does that makes his/her so many times more worth than your average man. Not being sarcastic just want to gain those skills.
- vertline3 7y agoI don't know either, but they seem to be Attorneys so they can navigate complex laws, or Engineers (Alan Mulally). They also seem to be well connected. What makes them compensated so highly is the large risk they manage, they are expected to meet shareholder demands. That said, some of it certainly feels excessive.
- danielscrubs 7y agoits interesting that they almost never have a large part of their salary connected to bonuses like salespeople do. They take risks for others and it’s an important job. But I do think it has more to do with culture.
- jaydouken 8y agoIIRC, there was an article on HN a few months back about how she's given away tons and tons of money, more than anyone into her family. She seemed to be a good person in her interview, but I can't find the link.
- existencebox 8y agoI believe this is the thread/article in question. [0] (sorry for the low-content post, just recalled a fragment of the title and figured I could help.) [0]https://news.ycombinator.com/item?id=19524325 https://news.ycombinator.com/item?id=19524325
- tracker1 8y agoThere were lots of white men who called for an end to slavery in the U.S. Should they have just shut up and not tried because they were "in a position of privilege?" Some things are just wrong, and it's probably a bad idea to call their critique out because of whatever other positions they may hold. Just because someone is inherently wealthy doesn't mean their opinions on operations of a given company, that happens to carry their name, is wrong.
- qazpot 8y agoI don't get this outrage over the pay ratio. This seemingly outrageous ratio seems reasonable once you factor in the hard decisions that any CEO or top level executives have to make. Their one mistake can have very drastic effects on hundreds of thousands of employees. When any company shuts down, the median employee is not blamed it is the CEOs and executives who are blamed. Companies do not pay CEOs for the hours they work, they pay them to take critical decisions.
- JoeAltmaier 8y agoEverybody gets blamed when they make bad decisions. No different for the CEO. Its hasn't been considered reasonable to earn 100's of thousands of times more than most people. That's kind of the definition of excess, and is used throughout history to illustrate societies gone haywire (despot kings, religious wealth in the presence of poverty etc). There are literally thousands of people who would line up to make those critical decisions. They don't earn that much because of the market. CEOs earn that much because the folks at a company that can write checks, write them to each other.
- mruts 8y agoThat’s not how public companies work. CEO compensation is determined by the board and the board is elected by the shareholders. If a CEO makes a lot of money, it’s because the owners of the company think it’s worth the money. I work in finance and your buddy buddy old boys club isn’t true. Shareholders want as much money as possible and the relationship between them and management is often antagonist: many a CEO are laid out to dry every year by investors. As such, there’s only one reason why Bob Iger gets paid so much: because he’s generated tremendous value for shareholders over the years and the shareholders want to incentize him to keep generated value.
- JoeAltmaier 8y agoYet in the last couple decades we've seen this jump up an order of magnitude. Don't think those board members aren't writing checks to one another, in that company or a different one. Generating value for the shareholders is a job, and can pay like any other job. The reasons compensation for that has jumped up an order of magnitude has more to do with tulips.
- bartimus 8y agoYeah, sorry. Your income is at the bottom 11%. It doesn't qualify for the bonus redistribution program.