5 ms·

Can you point us to an executive team giving themselves bonuses? I can point you to multiple giving themselves paycuts.

wbronitsky 6y ago
Disney is the easiest one to find, I’m sure there are many many more: https://www.theguardian.com/film/2020/apr/22/disney-heir-criticises-company-over-15bn-bonuses-cuts-pay https://www.theguardian.com/film/2020/apr/22/disney-heir-cri...
- creddit 6y ago
  I can't find any after a few minutes, though, I expect searching for it is a bit challenging.
  - wbronitsky 6y ago
    Goldman: https://m.huffpost.com/us/entry/us_5e76b864c5b63c3b6491cbd8 https://m.huffpost.com/us/entry/us_5e76b864c5b63c3b6491cbd8 Denver Health Medical Center: https://denver.cbslocal.com/2020/04/24/coronavirus-denver-health-bonus-ceo-pay-cuts/ https://denver.cbslocal.com/2020/04/24/coronavirus-denver-he... Salesforce: https://www.businessinsider.com/salesforce-top-executives-cash-bonus-salary-marc-benioff-2020-3 https://www.businessinsider.com/salesforce-top-executives-ca... Oxy: https://www.google.com/url?sa=t&source=web&cd=9&ved=2ahUKEwjY54zmgaLpAhXDuZ4KHREEAdEQFjAIegQIChAB&url=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2Fenergy%2Fhow-did-oxys-bosses-get-paid-a-bonus%2F2020%2F04%2F02%2F4c212c30-74da-11ea-ad9b-254ec99993bc_story.html&usg=AOvVaw0WEmMrWJjKMRU0gGA1CoQ4 https://www.google.com/url?sa=t&source=web&cd=9&ved=2ahUKEwj... Liberty mutual: https://www.bizjournals.com/boston/news/2020/03/02/liberty-mutual-ceo-scores-bigger-bonus.html https://www.bizjournals.com/boston/news/2020/03/02/liberty-m... That’s what I got in 3 minutes. I still would bet there are a ton more. The articles written about CEO pay cuts are PR puff pieces intended to placate us into not taking back what the oligarchs have stolen from us.
    - creddit 6y ago
      Thanks! Most of those (Goldman, SFDC, Liberty Mutual) don't seem to be laying people off, though, so I'm not sure why this is a problem. I won't bother getting into a discussion about "what the oligarchs have stolen from us."
    - Consultant32452 6y ago
      Getting mad because someone was paid this year for the salary they earned last year is a bit of a stretch. I am a lowly coder at a bank and I got my bonus and profit share last month for the work I accomplished in 2019. What will suffer is my bonus and profit share for 2020, which I will be paid in April of 2021, if there's anything to get.
nathanaldensr 6y ago
Executive compensation tends to be tied to bonuses and stock, not base salary. Taking a pay cut is much more minor than it may seem.
- creddit 6y ago
  Yeah but cutting stock compensation doesn't really do much for you anyway since it's not real in the sense that it's not an operating expense; it's not cash. The equity is conjured up and pre-allocated meaning the cost to business is in the dilution at grant time. You could make an argument that either: A) The company should issue more equity to pay for furloughed/laid off workers B) The company should reallocate equity from executives to the furloughed workers. This may not be possible for a host of legal reasons, tbh, so I'm not sure it's actually possible.

Disney is the easiest one to find, I’m sure there are many many more: https://www.theguardian.com/film/2020/apr/22/disney-heir-criticises-company-over-15bn-bonuses-cuts-pay https://www.theguardian.com/film/2020/apr/22/disney-heir-cri...

creddit 6y ago
I can't find any after a few minutes, though, I expect searching for it is a bit challenging.
- wbronitsky 6y ago
  Goldman: https://m.huffpost.com/us/entry/us_5e76b864c5b63c3b6491cbd8 https://m.huffpost.com/us/entry/us_5e76b864c5b63c3b6491cbd8 Denver Health Medical Center: https://denver.cbslocal.com/2020/04/24/coronavirus-denver-health-bonus-ceo-pay-cuts/ https://denver.cbslocal.com/2020/04/24/coronavirus-denver-he... Salesforce: https://www.businessinsider.com/salesforce-top-executives-cash-bonus-salary-marc-benioff-2020-3 https://www.businessinsider.com/salesforce-top-executives-ca... Oxy: https://www.google.com/url?sa=t&source=web&cd=9&ved=2ahUKEwjY54zmgaLpAhXDuZ4KHREEAdEQFjAIegQIChAB&url=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2Fenergy%2Fhow-did-oxys-bosses-get-paid-a-bonus%2F2020%2F04%2F02%2F4c212c30-74da-11ea-ad9b-254ec99993bc_story.html&usg=AOvVaw0WEmMrWJjKMRU0gGA1CoQ4 https://www.google.com/url?sa=t&source=web&cd=9&ved=2ahUKEwj... Liberty mutual: https://www.bizjournals.com/boston/news/2020/03/02/liberty-mutual-ceo-scores-bigger-bonus.html https://www.bizjournals.com/boston/news/2020/03/02/liberty-m... That’s what I got in 3 minutes. I still would bet there are a ton more. The articles written about CEO pay cuts are PR puff pieces intended to placate us into not taking back what the oligarchs have stolen from us.
  - creddit 6y ago
    Thanks! Most of those (Goldman, SFDC, Liberty Mutual) don't seem to be laying people off, though, so I'm not sure why this is a problem. I won't bother getting into a discussion about "what the oligarchs have stolen from us."
  - Consultant32452 6y ago
    Getting mad because someone was paid this year for the salary they earned last year is a bit of a stretch. I am a lowly coder at a bank and I got my bonus and profit share last month for the work I accomplished in 2019. What will suffer is my bonus and profit share for 2020, which I will be paid in April of 2021, if there's anything to get.

nathanaldensr 6y ago

Executive compensation tends to be tied to bonuses and stock, not base salary. Taking a pay cut is much more minor than it may seem.

creddit 6y ago
Yeah but cutting stock compensation doesn't really do much for you anyway since it's not real in the sense that it's not an operating expense; it's not cash. The equity is conjured up and pre-allocated meaning the cost to business is in the dilution at grant time. You could make an argument that either: A) The company should issue more equity to pay for furloughed/laid off workers B) The company should reallocate equity from executives to the furloughed workers. This may not be possible for a host of legal reasons, tbh, so I'm not sure it's actually possible.