There is a concept called the DOLLAR VOTE - you buy things that you agree with.
Like McDonalds and hate Burger King, then dont shop at Burger King, you spend your hard earned money at McDonalds because you like and agree with their product.
Well, the same goes for investments - when you buy and hold shares in a company, you are AGREEING with what the company is doing with your money.
If you hold GE shares, you agree and are happy with what GE is doing with american jobs and how much its paying its CEO. You are a happy investor.
So lets digest this:
Culp makes $73,192,032 per year.
How much is that really? It works out to:
$3,550 per hour.
$142,153 per week.
$616,000 per month.
Well, the median GE worker makes about $55000.
This means Culp makes more than you do PER YEAR than this guy makes in 2 days.
If the average human takes 15 minutes to drop a duce, he makes nearly $1000 buks every time he goes #2.
This means, when he takes a sh!t on company time, he makes more than you do in a week.
In 2 weeks, he makes enough money to buy the average american house.
Let that sink in for a while....
And while thats sinking in, remember, the board just gave him a sweetheart deal for a massive payday.
Year over year his pay increased to $72.7 million, up 208%.
Did YOU get a 208% payraise over last year?
https://www.vanityfair.com/news/2021/05/larry-culps-pandemic-year-stock-deal-is-putting-ge-in-the-hot-seat
"The board should be shot"
In his original compensation package, if GE’s stock increased 50%, to $18.60, Culp would get 2.5 million GE shares, worth about $47 million. If the stock increased 150%, for instance, he’d get 7.5 million GE shares, worth about $233 million. There would be no payout for Culp if the stock did not increase at least 50%.
Well, snowflakes need for comfort has no end when you are at the top, and Culp is an exceptional kind of snowflake...he got the board to agree to LOWER price targets of the stock so he can get his MASSIVE payday, because, you know, covid........
What had been a baseline of about $12.40 per share—meaning that the number of GE shares he received would not kick in until GE’s stock price was 50% higher than $12.40, or $18.60—was drastically lowered to $6.67 * per share, making it much more likely that Culp would get the big payout, as he now has gotten about two thirds of the shares. GE pegged the value of the revised incentive stock award for Culp at around $57.1 million in its proxy.
So now, as long as the stock is greater than $6.67, queen Snowflake retires comfortable with the cash he saved by cutting American jobs and shipping them overseas
Capitalism....with american characteristics.
Why anyone works any harder than the absolute minimum is beyond me.
GE is getting robbed by a d-mb board and a greedy ceo.
Who pays?
You do.