SA CEO pay vs performance

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technofool

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Whitey Basson lost Shoprite R38billion in value and got paid R50million for his loser performance.
How MAD does the world have to get before we start pushing back? PROPERLY???

How many R million cars have to be parked at the Malls while half the citizens are going hungry and jobless?

It is not the fault of the hungry citizens that they are unemployed, the CEO's are cutting jobs to push up profits and bonuses. CEO's and Management keep telling us that they are the valuable rainmakers who create jobs and wealth but they are pretty pathetic on that task also.

How about Mark Cutifani losing R25billion for Anglo American and getting rewarded R71million by shareholders for his pathetic efforts?

http://businesstech.co.za/news/business/92156/ceo-pay-vs-performance-in-south-africa/
 
This is how things work in SA.
It is not what you know, it is who you know, who can help you be schlenter...
 
technofool said:
How many R million cars have to be parked at the Malls while half the citizens are going hungry and jobless?
Click to expand...

I think it is well reported/known that the world produces sufficient food that no one needs ever go hungry, but the capitalist world we live dictates that we let some starve regardless.
 
I wanted to say that the world already produced enough food to feed every human on the planet but I didn't have a reference for that fact. So I wimped out and shut up. I'm expecting the Gauteng Capitalists to begin attacking me any minute now.

http://www.huffingtonpost.com/eric-holt-gimenez/world-hunger_b_1463429.html

Globally we produce 30% more kcal/person/day than we did in the 1960's.

http://www.worldhunger.org/articles/Learn/world%20hunger%20facts%202002.htm#Does_the_world_produce_enough_food_to_feed_everyone
 
technofool said:
I wanted to say that the world already produced enough food to feed every human on the planet but I didn't have a reference for that fact. So I wimped out and shut up. I'm expecting the Gauteng Capitalists to begin attacking me any minute now.

http://www.huffingtonpost.com/eric-holt-gimenez/world-hunger_b_1463429.html

Globally we produce 30% more kcal/person/day than we did in the 1960's.

http://www.worldhunger.org/articles/Learn/world%20hunger%20facts%202002.htm#Does_the_world_produce_enough_food_to_feed_everyone
Click to expand...

You wouldn't even need a search. Just look at how much food gets thrown away even locally and you start to get the picture. Sure there are logistics and so forth but as a people we do eat a lot of crap we don't need for nutrition while others go hungry daily.
 
R13... said:
I think it is well reported/known that the world produces sufficient food that no one needs ever go hungry, but the capitalist world we live dictates that we let some starve regardless.
Click to expand...
Sad that a full third of all food is wasted, more than enough to feed all 805 million suffering from chronic undernourishment. The problem is just that the place where the food goes to waste is not always close to those who need it most.
 
technofool said:
Whitey Basson lost Shoprite R38billion in value and got paid R50million for his loser performance.
How MAD does the world have to get before we start pushing back? PROPERLY???

How many R million cars have to be parked at the Malls while half the citizens are going hungry and jobless?

It is not the fault of the hungry citizens that they are unemployed, the CEO's are cutting jobs to push up profits and bonuses. CEO's and Management keep telling us that they are the valuable rainmakers who create jobs and wealth but they are pretty pathetic on that task also.

How about Mark Cutifani losing R25billion for Anglo American and getting rewarded R71million by shareholders for his pathetic efforts?

http://businesstech.co.za/news/business/92156/ceo-pay-vs-performance-in-south-africa/
Click to expand...

You aren't thinking about this correctly. The CEOs pay (and indeed most employees pay) is tied to how much the company would lose without them, not how much the company makes or loses in absolute terms (which is likely more due to external factors than anything else - the CEO generally doesn't have 25-38billion dollars of influence - if they did, they would be paid a lot more). If the company/shareholders believed that the losses were due to the poor decisions of the CEO, s/he would be ousted.
 
technofool said:
Whitey Basson lost Shoprite R38billion in value and got paid R50million for his loser performance.
How MAD does the world have to get before we start pushing back? PROPERLY???

How many R million cars have to be parked at the Malls while half the citizens are going hungry and jobless?

It is not the fault of the hungry citizens that they are unemployed, the CEO's are cutting jobs to push up profits and bonuses. CEO's and Management keep telling us that they are the valuable rainmakers who create jobs and wealth but they are pretty pathetic on that task also.

How about Mark Cutifani losing R25billion for Anglo American and getting rewarded R71million by shareholders for his pathetic efforts?

http://businesstech.co.za/news/business/92156/ceo-pay-vs-performance-in-south-africa/
Click to expand...

You seem to forget year on year performance and focus only on singular events.

You also forget that the market often dictates business.

It's not always about how much the CEO lost in pure numbers, but also what he didn't lose in a declining market.

If the whole world is crumbling around you but your business crumbled less than everyone else's isn't that a job well done?

Companies can't just keep performing upwards perpetually.
 
SauRoNZA said:
You seem to forget year on year performance and focus only on singular events.

You also forget that the market often dictates business.

It's not always about how much the CEO lost in pure numbers, but also what he didn't lose in a declining market.

If the whole world is crumbling around you but your business crumbled less than everyone else's isn't that a job well done?

Companies can't just keep performing upwards perpetually.
Click to expand...

If you can't bother to read the news article or if you cannot comprehend it even when you did read it, please don't bother with a misguided reply.
 
So is this just one of those "let's all hate CEO's because they earn so much more than me, even though I don't really understand what their job entails nor am I qualified to assess their performance" threads?
 
technofool said:
How many R million cars have to be parked at the Malls while half the citizens are going hungry and jobless?

Why is a CEO more responsible than you for the hungry and jobless? If someone drives a R500k car, are they 5x more to blame than someone that drives a R100k car?

It is not the fault of the hungry citizens that they are unemployed, the CEO's are cutting jobs to push up profits and bonuses.

Would you rather a few hundred/thousand jobs be cut or the entire company go under? This is a for profit entity not a charity.

CEO's and Management keep telling us that they are the valuable rainmakers who create jobs and wealth but they are pretty pathetic on that task also.

Their performance should be appraised and if the standards are not met they should be replaced.
Click to expand...

See above.
 
Replace Shoprite with Eskom.. does your opinion change? if so then..
 
TechnoFOOL. Says it all. Ignoramus of note.
 
Whitey Basson lost Shoprite R38billion in value and got paid R50million for his loser performance.
How MAD does the world have to get before we start pushing back? PROPERLY???
Click to expand...

As far as I'm aware Shoprite is a publicly listed company, which exists to make a profit, not to pander to spurious claims about cars, jobless and hunger.

As a publicly listed company, it likely has a board of directors, and shareholders, both of whom control what the CEO earns to some degree.
If you have complaints about salaries, perhaps buying some shares, and voting against salary increases at the next shareholders meeting might be in order.

A private company can, and does decide to pay its executives a salary of their choice, typically at market related rates - if they didn't no-one would want the job.

People earn more than others. Life isn't fair. These are all lessons you learn once you grow up.
 
It's the loopy socialist views and policies of people like the OP and running dogs that are destroying economies and trapping people in backwardness.
 
Our beloved South Africa is suffering in a sick state at present. Half of our citizens live in hunger and bad health below the poverty line. Many citizens privileged to have a job, have to commute 2 hours to-n-from their work place and spend 8am-5pm obeying their boss's commands.
In return they earn enough to live in a cardboard shack in a slum. No running water, no toilet, no safety.

The truth is there aren't enough jobs and there never will be. In the past it took every bit of labour to eke out a life, fields were tilled by hand and factories and mines were labour intensive. Modern life is mechanised, one person on a mechanised farm produces enough food for thousands, a few people in a factory produce clothes and shoes for thousands.

The Capitalists say "Clearly we have too many unproductive people leeching off the system". Their solution is to put the leechers into low cost slums where they can suffer in silence and not be an eyesore. All that does is decrease the market size for food clothing and shelter and then we get lay-offs, retrenchments, factory closures, mine mothballing and less jobs. It is a race to the bottom. No wonder the world is in such a mess.

We can never create enough jobs but we should at least try. How do we do that? What creates job opportunities??
NEW CUSTOMERS!! No business every flourished without customers and stealing customers from another business creates nothing it just moves jobs to the new business. Customers enable job opportunities. So how do we create customers first??

Rich people have so much money because they don't spend it all, they buy fancy cars, luxurious homes and fashionable clothes but they still have more money to put in the bank and invest in companies where other rich bosses can't do nothing with it because there aren't enough customers to create new markets to exploit. The 1% Rich of the world are not good customers.

The 50% Poor people of the world, on the other hand, are the best customers. They spend all their money, they line up to buy stuff they need and they create job opportunities for all of us. We don't need to pay CEO's millions upon millions, we need to pay millions of lowly workers a little bit more so that they can become better customers.
 
JSE listed companies are legally required to disclose the remuneration details of their executives. We know how much they have earned. Why do they not include how much tax they paid to SARS? That would be really interesting.

Are these richly rewarded individuals contributing their fair share to our tax fiscus?
 
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