It's often worth pointing out to people with this attitude that those dastardly shareholders include anyone with a 401k, and also group retirement plans, like the teacher's association (union? I don't remember exactly, but it was a retirement plan for California public school teachers) that is a major shareholder in the California power companies everyone was railing against a few years ago.
...or the increase in rates went at least partially to covering increased fuel costs.
That’s a very poor take on how things work. In the end the management is there to ensure the company is making money. Sure, most executives or company owners, etc. make a considerable amount of money versus the average laborer. I don’t see how you think for some reason that should be any different. In most cases there is considerable education and training for management versus not much is required for labor positions. It’s all about what you want to pursue in life, with some exceptions for the obvious lucky people born into money or positions.
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“Too much”, “not enough”, “just right” . . . it’s all just an opinion based on one’s perspective.
Teamster management also gets paid VERY well.
I disagree. I worked for Fortune 500 companies (Owens Corning, McDonnell Douglas). Just because you have a PHD and are sitting behind a mahogany desk in an Ivory Tower, shouldn't give you the right to make 200 times more than the people who actually make it possible for the company to exist. If they have had enough of being Corporate Debt Slaves, they can strike. There is an overwhelming amount of people in management in most companies doing very little. It only takes a handful of people to analyze and decide how things need to be handled. Just look at any numbers you want of the Unbelievable amount of money these huge corporations are making ... Exxon made 38.3 BILLION the last Quarter, not yearly, just in 3 months. And where did that money go? Not as any amount in the form of a Bonus to the people who actually did the work. These are hard working people of good intensions struggling to make ends meet every month, while the management Stooges are saying to themselves, " I'm a superior and intelligent person of arrogance and I need to be rewarded highly, compared to these regular people doing the grunt work."
Actually ExxonMobile had after tax net earnings (profit) of $11.4 billion for the most recent quarter (q1 2023) not 38.3 billion of which $8.1 billion was returned to shareholders (many of which are union pension funds ironically enough). FWIW neither the current CEO, Darren Woods or the previous CEO, Rex Tillerson have PHD’s. In fact Tillerson doesn’t even have an MBA.
sorry, I meant to say JP Morgan/ Chase bank made those profits.
Respectfully, your numbers are still incorrect. Your 38.3 billion dollar number is before expenses and provision for credit losses. Actual net income (profit) for the quarter was $12.6 billion. Still a tidy sum but a far cry from 38.3 billion.
Yep, I just got those numbers off a an article, so those expenses were not mentioned. Still is a staggering amount of money for just 3 MONTHS
not millions but BILLIONS
I agree with you 100%
Yep, I just got those numbers off a an article, so those expenses were not mentioned. Still is a staggering amount of money for just 3 MONTHS
Management/ownership will usually take full advantage of workers and literally work them to death if they can get away with it. Union leadership will line their pockets as much as possible if they can get away with it.
I thought the dues that is paid by union members is contributed to their pension. I could be wrong.
Ha! Not in the unions I was in.
Why do people think they are entitled to profits from a company they work for? Because they did really well that quarter ? Unless you have a deal in place the only thing you are “entitled” to would be the sum of money you are currently agreeing to work for.
