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Old 07-09-2012, 10:53 AM  
Frankie Frankie is offline
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... And in other 1%er news:
http://grist.org/news/duke-ceo-bill-...-in-severance/

$44.4 mill for about a day's work. NICE!
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Old 07-09-2012, 03:30 PM   #31
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I feel sorry for people who worship the rich, and those who envy them. We have both in this thread.

Personally, I ignore them. The rich that is.
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Old 07-09-2012, 03:32 PM   #32
qabbaan qabbaan is offline
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I teach my kids to earn what they get.
You should teach them how the business world works. In the business world unless you work for yourself, you get hired at a salary that corresponds to the value and scarcity of the skills and experience you bring to the table. You don't "earn" a dollar amount for each task you perform.
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Old 07-09-2012, 03:32 PM   #33
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If he was fired after one day, do you think he should give up the money he is owed under his employment contract?
Yes. Earn your keep. It's pretty simple.
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Old 07-09-2012, 03:33 PM   #34
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If he was fired after one day, do you think he should give up the money he is owed under his employment contract?
I'm betting if it were KC Fish owed the money, such as if he had an employment agreement entitling him to unused vacation pay upon leaving the company, he'd expect the company to honor the contract.
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Old 07-09-2012, 03:37 PM   #35
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Originally Posted by KC Fish View Post
Yes. Earn your keep. It's pretty simple.
Wow.
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Old 07-09-2012, 03:38 PM   #36
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Originally Posted by qabbaan View Post
I'm betting if it were KC Fish owed the money, such as if he had an employment agreement entitling him to unused vacation pay upon leaving the company, he'd expect the company to honor the contract.
You would think, but maybe he's idealistic.
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Old 07-09-2012, 03:49 PM   #37
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Originally Posted by qabbaan View Post
You should teach them how the business world works. In the business world unless you work for yourself, you get hired at a salary that corresponds to the value and scarcity of the skills and experience you bring to the table. You don't "earn" a dollar amount for each task you perform.
You mean the business world in America that is currently failing outside of the 1%? The one with record unemployment and an ever increasing inequality of economic classes?

The current American business model is not sustainable. No amount of sucking off the corporate world will make it so.
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Old 07-09-2012, 03:57 PM   #38
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Originally Posted by patteeu View Post
Wow.
Yeah. Funny how earning your keep and not taking what you don't deserve is seen as some crazy antiquated idea...
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Old 07-09-2012, 04:02 PM   #39
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You mean the business world in America that is currently failing outside of the 1%?
To land within the top 1% of households by income in the United States, your household would need to earn above $350,000. I'd say the business world is working for more people than that.
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Old 07-09-2012, 04:08 PM   #40
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Yeah. Funny how earning your keep and not taking what you don't deserve is seen as some crazy antiquated idea...
What makes you think you're a good judge of what is deserved?
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Old 07-09-2012, 04:30 PM   #41
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What makes you think you're a good judge of what is deserved?
Well, I've yet to meet anyone whose opinions I agree with more than my own...

In this case, I don't think it would take a rocket surgeon to surmise that someone might not deserve $44M after the first day on the job. But you're certainly welcome to argue that this fellow deserved that amount of money for a single day of work.
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Old 07-09-2012, 04:35 PM   #42
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Originally Posted by KC Fish View Post
Well, I've yet to meet anyone whose opinions I agree with more than my own...


Quote:
Originally Posted by KC Fish View Post
In this case, I don't think it would take a rocket surgeon to surmise that someone might not deserve $44M after the first day on the job. But you're certainly welcome to argue that this fellow deserved that amount of money for a single day of work.
What are the terms of the contract and the circumstances leading to the guy's departure in this case? It's hard for me to believe anyone can judge this guy fairly without knowing those things. For all we know, he declined a lucrative job elsewhere to take this one and missed that chance.
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Obamacare’s fix for an American health care system that the federal government long ago broke, is to give the federal government far more power over American health care; that its solution to escalating health costs is to mandate greater health benefits (and, hence, higher costs); and that its solution to the pricey overreliance on pre-paid health plans — offered by insurance companies in lieu of real insurance — is to have the government require Americans to buy those pre-paid health plans under penalty of law.
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Old 07-09-2012, 05:04 PM   #43
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Yes. Earn your keep. It's pretty simple.
Okay now you are just being obstinate for the sake of being obstinate.
No way in hell you give back the $44 million.
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Old 07-09-2012, 05:04 PM   #44
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Originally Posted by KC Fish View Post
Well, I've yet to meet anyone whose opinions I agree with more than my own...

In this case, I don't think it would take a rocket surgeon to surmise that someone might not deserve $44M after the first day on the job. But you're certainly welcome to argue that this fellow deserved that amount of money for a single day of work.
It isn't the single day of work, it's what he did to put himself in that position. If you want to be mad at someone be mad at the company that entered into the agreement that made this possible.
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Old 07-09-2012, 05:22 PM   #45
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A guy resigns after 1 day of being CEO of the company, and leaves with $44M, and some people fall over themselves trying to defend why this should be no big deal because rich people are rich. I see some envy in the situation for sure. Not from those who are criticizing a very unprecedented business move, but from those who automatically defend it simply because it involves massive amounts of corporate money.

I teach my kids to earn what they get. I teach them that success means much more than just money. It's telling that you would automatically assume success in this situation in spite of the fact that justifying $44M for a single day's compensation is completely illogical.
Someone started a thread to say it's wrong. What are we supposed to do, cry? If the guy made a deal, and he exercised his options then so what? Did it cost you money or something?
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