Chevron supports director Stumpf despite Wells Fargo morass
October 4, 2016
By Ernest Scheyder
HOUSTON, Oct 3 (Reuters) - Chevron Corp on Monday said it stands behind John Stumpf, a member of its board and the chief executive of bank Wells Fargo Editing by Terry Wade)
Watch what happens next. WF employees fiered earlier for not meeting sales goals by adding new accounts have filed a lawsuit. The CEO is not out of the woods yet.
Considering the top 25% control about 85% of America's wealth, the tax levels seem about right. Also, a lot of us have taken pay cuts but you don't see many CEO's doing the same. Care to try again?
Birds of a feather flock together. Stumpf fits right in on the Chevron board. Not that John Watson cares, but you are known by the company you keep. Another shining example of Chevron's tenants of operation and a gold star OE moment.
Come on now. I think the last post is getting away from the OP. We're talking about a CEO who created and/or fed a culture that rewarded achievement of metrics while breaking customer trust, business integrity and the US law. If you can't meet the leadership's metrics in Wells Fargo, well, just create accounts using your customer's money without their knowledge. I guess I just can't support that definition of a smart and talented CEO and neither should Chevron. What happened to admiring leaders who stand for "the buck stops here"? And one more thing for the Chevron Public Affairs SMEs. Here's a tip. Try saying, "no comment" next time.
Yes, there certainly is a growing wage disparity in the US. However, what does that have to do with Greedy American Democrats who are not happy with their own salary and what they earn and work for but feel that they are entitled to that which other's have earned also? The top 20% Pay about 84% of the federal income tax, with our tiered tax structure. That would seem to many like the bottom 80% are being given a very good deal. I'm not sure that you could make it much more unfair for the ones paying the lion's share of the tax burden, but I'm sure that the democrats will try to find a way. That's the thing about democrats, they can never seem to get enough of other people's money, I suppose until they have it all, but then they probably will still want more! If a CEO is smart and talented enough to bring value to his/her company, and lift the marketability and wages of each and every one of the company employees, then he/she is worth every penny. I'm not saying that's true in every case, but until you're willing to take a pay cut, don't suggest others do so also.
American Greed at its finest. There is a growing wage disparity in the Unites States and it's very noticeable. It is one of the main reasons why many people are siding with the Democrat ticket in November. It's getting harder to hide that 400-pound gorilla in the room.
It's simple. In between 1978 and 2014, inflation-adjusted CEO pay increased by almost 1,000%, according to a report released in 2015 by the Economic Policy Institute. Meanwhile, typical workers in the U.S. saw a pay raise of just 11% during that same period. http://fortune.com/2015/06/22/ceo-vs-worker-pay/
This kind of growth and disparity doesn't happen without tight alliances between the big boys.
Chevron and Wells Fargo share these ethics.
Maybe he should start reading the Wells Fargo layoff board!
The Wells Fargo stockholders should demand the voluntary resignation or mandatory firing of their CEO. The buck stops at the top. Same thing for the CEO of Chevron.
Exactly what I was thinking, -xjh. Usual Chevron ethics of all talk, no integrity.
From an ethics and company culture standpoint, he fits right in on cvx bod.
Who else would provide the banking perspective to approve all those loans to pay the dividend? And likely recommended doing so in small increments for higher fees. How many phantom accounts were opened in Chevron's name??
As long as he keeps rubber stamping Watson's yearly bonus he has nothing to be afraid of.
Maybe he can lead the Chevron Credit Union when WF sacks him next week.
Chevron supports director Stumpf despite Wells Fargo morass
October 4, 2016
By Ernest Scheyder
HOUSTON, Oct 3 (Reuters) - Chevron Corp on Monday said it stands behind John Stumpf, a member of its board and the chief executive of bank Wells Fargo Editing by Terry Wade)