Relax, guys and gals. No matter how much you have devoted to this bank, you are just making the upper management and institutional investors richer. Don’t think too much. Just let it be, and I am sure you will be fine.
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400 times...400%. checks out.
Nope.
And I don't think Charlie is doing 400 times more work than anyone else.
I don't think he adds 400% more value than anyone else.
In fact, just last year we found out that he's not as important as the people delivering food, or gas, or working in hospitals.
Not to single out Charlie, he's one of thousands. But if he took six months off the bank would be fine.
If the tellers and people running IT did that, not so much.
He could probably go home for a year and no one would notice. Same with half the exec's.
The execs are over compensated and most of them get to pick the consultants that set their compensation.
The boards of directors of corporations are incestuous family gatherings of people serving on each other's boards and looking out for each other.
I am a fan of well regulated capitalism, and a bigger fan of free enterprise, but the system is corrupt.
The system is corrupt and the people waiting to get displaced are the victims.
You seem to be conflating "corporate America" and CEOs with investors, they are not the same thing. Focus.
@1skm+1csLHqMe fails to address what he/she/they claim to be addressing.
There are "investors" who do nothing and make their living off the work of other people.
Corporate America used to be customers first, then employees, then shareholders.
For the last 40 years, it's been shareholders, maybe customers, and not at all employees.
Executives and boards use companies like Wells as their own personal ATM machines.
40 years ago, the CEO made about 40 times what the lowest paid employee made.
Now the CEO makes 400 times what the lowest paid employee makes.
The system is corrupt, and that's how you end up with John Stumpf, and the current situation WF is in now, where thousands of employees are miserable and waiting to lose thier jobs.
A thing that will be good for the investors who do no work but will make money off the misery of other people.
@1skm+1csLHqMe has failed to actually prove his/her/their point.
"attain the education / skills necessary to do more valuable work"
Except don't expect it to have any use here. Wells Fargo is cheap AF. They're idea of training here is watch this video.
"For doing nothing."
Investors are critical for business creation and growth, which drives incredible amounts of job growth for the rest of us. Making the entire operation possible isn't "doing nothing", it's one of the most important things. I suppose you think the $ they are investing came from the magical money tree? Or that it wasn't earned? And how about investors that lose a ton, or all, of their investment? These people make all of our jobs possible. And while you're on the hate train, you might want to keep in mind that investors are even more diverse than the nation itself. Teachers pension funds own stocks. Firefighters/police. Retired folks. Children's college funds. Fellow employees. Foreign investors of all shapes/sized. I know when you think "investor" all you see the Monopoly guy, but it's not exactly how things work in the real world.
Also, let's not pretend that employees aren't compensated for their time "doing something". It costs a lot of $ to employ people. Way more than just salary. Benefits, HR, all-things property related, legal, etc. If you don't like your pay, there's always other options. If there's not better options, then congrats, you're making the market rate for the work you do. Still want more? NP, attain the education / skills necessary to do more valuable work. Or (gasp) become an investor yourself. There's zero barriers to doing so in 2021, and many people are doing it.
Good perspective here. Lots of people feel like the company owes them something when we’re all being paid for services. When the company doesn’t need those services any longer, they don’t have to pay you any more.
Most corporate heads are very conservative.
Boards even more so.
Some people confuse patriot with conservative.
Just because your CEO didn't show on 1/6 doesn't mean they don't have your congressman and Senator on speed dial, and they always get their tax cuts.
Most Corporate heads are not conservatives. Wake up, those days are long gone.
Yeah, that's how corporations work.
You do the work, and the shareholders take the money.
For doing nothing.
When conservatives talk about capitalism, most people think they're talking about free enterprise.
They're not, they're talking about you doing the work while Stumpf sits around the country club.