The United Auto Workers union has made CEO pay a central part of their argument for a big worker wage increase.
Good, fuck em. What doesn’t get talked about is what a huge ripoff the stock buybacks are and how they incentivize the race to the bottom we have now. CEO’s don’t answer to customers but to shareholders now, and their income is directly tied to share price as opposed to the company’s KPI’s.
A company can be healthy, profitable, and showing robust financials…but the investors can always say it’s not profitable ENOUGH, and demand further measures be taken to increase profits even more. Therefore the company is now directly pitted against both customers and employees. They are incentivized to deliver the least possible to the customer, while charging the most they possibly can, with the absolute least amount of employees delivering it while also paying employees the least they possibly can get away with, regardless of anything except the sole goal of basically fucking everyone that isn’t an investor.
Fuck the customers, fuck the workers, fuck the thing that created the success of the company in the first place.
What the UAW is doing is forcing the companies to change the nature of the operations and compensation packages. Either give the employees the same access to the cash drip feed from the stock performance or stop executives from being tied to stock price and go back to only partaking of the business revenue.
Either way, fuck the execs. I’d rather there be no company than those motherfuckers running it the way they have been. Now’s the time for it all to burn down or change for the improvement to the employees.
ArbiterXero@lemmy.world 9 months ago
The stock buybacks are really the answer. They spent 100x on them, but the CEO pay is still a valid target