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Suppose that Intel's lowest-paid trainee earns $15,000 per year. The 50 to 1 CEO salary rule would mandate that the salary of Intel's co-founder and CEO, Andy G
by xyzzyz 13y ago
Suppose that Intel's lowest-paid trainee earns $15,000 per year. The 50 to 1 CEO salary rule would mandate that the salary of Intel's co-founder and CEO, Andy Grove, could be no more than $750,000. (...) Consequently, the practical meaning of this "responsible corporation" law to Intel would be this gun-to-the-head proposition: "Either cut the pay of your Chief Executive Officer by a factor of four from $2,756,700 to $750,000, or pay the federal government an extra $395 million in taxes."
I wonder if raising trainee's pay as a solution to this "problem" was deliberately omitted, or it did not even occur to T.J. Rodgers.
- daniel-cussen 13y agoAs long as we're not omitting solutions, Intel could lay off its lowest paid trainees.