#Executive Compensation

[haute-lifestyle-com]

Less than a year after The Walt Disney Company Board of Directors brought back former Chairman of the Board Bob Iger, after two dismal years of pandemic related disasters, the board has extended his contract until 2026.

[spotlightstory]

Senate Report Exposes Big Pharma’s Profiteering at Americans’ Expense, 2024

Johnson & Johnson (J&J), Merck, and Bristol Myers Squibb (BMS)

These are the CEOs that ultimately make the policies and decisions on setting pharmaceutical pricing for companies named in the Senate Report.

Notice how CEOs live somewhat anonymous lives unless you happen to be in the medical industry or finance. Even then, I bet if you showed nurses these photos they would not recognize these men which are responsible for the common medicines that are practically household names - Stelara for arthritis; Keytruda for cancer; Eliquis for strokes.

American CEOs price gouging Americans.

J&J CEO, Joaquin Duato, received $13.1 million in total compensation 2022. Duato's net worth is at least $66.9 Million dollars as of 13 February 2024.

Merck's CEO Rob Davis’ total yearly compensation is $18.65 million, with 8.2% as salary and 91.8% as bonuses, including company stock and options. Robert M Davis has an estimated net worth of $102 Million.

BMS’ CEO Chris Boerner, appointed in November 2023, earned a total yearly compensation of $6.88 million last year, comprised of 15.5% salary and 84.5% bonuses, including company stock and options. Boerner also owns 0.004% of the company's shares, worth $4.11 million. Boerner formerly was Chief Commercialization Officer.

[worldofwardcraft]

The big buyback boondoggle.

Prior to the late 1970s, profitable corporations typically retained their excess earnings and reinvested them in order to increase their capabilities, often by rewarding with bonuses and higher wages the employees who made them more competitive. In those days, buying back your own stock, reducing the amount of shares outstanding, and thereby raising your company's share price, was considered stock manipulation. And was totally illegal. That is, until the disaster of the Reagan presidency.

In 1982, St. Ronnie's SEC adopted Rule 10b-18, that exempted a company from being charged with manipulating its stock price when it repurchased shares. Which opened wide the floodgates for abuse. Especially because stock increasingly made up the majority of the compensation for corporate executives. As the Harvard Business Review pointed out as far back as 2014,

Since the late 1980s, the largest component of the income of the top 0.1% has been compensation, driven by stock-based pay. Meanwhile, the growth of workers’ wages has been slow and sporadic.

But it was the misnamed Tax Cuts and Jobs Act of 2017 (it provided massive tax cuts to corporations but didn't create any jobs) that really set off an explosion in share repurchases. Republicans touted it as a mechanism to spur investment and stimulate the economy. Yet all it stimulated was the stock market.

Flush with cash due to their greatly reduced taxes, US corporations went on a madcap stock-buying spree. Like companies such as Johnson & Johnson (which repurchased $5 billion of its common stock), Meta Platforms/Facebook ($40 billion), Procter & Gamble ($4 billion), Lowe's ($4 billion), Comcast ($45 billion), Cigna ($26 billion), Walmart ($65 billion), Morgan Stanley ($12 billion last year; $9 billion the year before), plus a host of others.

In fact, Bloomberg recently reported that American firms announced a record $1.26 trillion in stock buybacks last year. And according to US News, S&P 500 companies repurchased a total of $210.8 billion of their own shares in the third quarter of 2022 alone. This included 319 companies that reported at least $5 million in buybacks.

Robert Reich, President Clinton's Secretary of Labor, is undoubtedly correct when he says,

Stock buybacks don’t create more jobs. They don't increase wages. They don’t grow the economy. They do one thing: Make corporate execs richer.

Rather than investing in the economy or their employees, corporate bosses are lining their own pockets with buybacks — creating a false impression that a higher stock price reflects an increase in the company's value. Or, in other words, perpetrating a fraud.

[bi-furiosity]

you can hold true in your head that the executives of ZA/UM had selfish and manipulative intentions like the filthy little capitalists they are and also that Robert Kurvitz continues to dismiss and belittle the fact that he was toxic and abusive towards the people working directly below him. you can believe both these are truths, promise you're fucking capable. at the end of the day, you should be supporting the workers. they made the project you love so much, and have been fucked over by this whole situation.

for context: gaming journalists People Make Games dropped a 2 and a half hour documentary detailing the complexities of the legal battles between disco elysium's original creators and ZA/UM shareholders/executives.

[ivygorgon]

AN OPEN LETTER to THE U.S. CONGRESS

Hold Bank Execs Financially Accountable for Mismanagement! Pass the DEPOSIT Act.

274 so far! Help us get to 500 signers!

I am writing to urge you to pass the Deliver Executive Profits on Seized Institutions to Taxpayers (DEPOSIT) Act that was recently introduced by Sen. Richard Blumenthal and U.S. Reps Adam Schiff (D-CA) and Mike Levin (D-CA).

This important legislation would hold executives at failed banks financially responsible for their mismanagement and prevent them from selling off shares of stock, potentially profiting from their bank failure -- like Silicon Valley Bank CEO Greg Becker might have done when he sold $3.6 million of stock shortly before the collapse of SVB.

American taxpayers shouldn’t be left holding the bag and bailing out banks while their executives are walking away with multi-million dollar compensation and bonus packages. Please respond in writing and let me know you co-sponsored this bill. Thanks!

▶ Created on March 24, 2023 by Jess Craven

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[butterflyeffectiooon]

With august it was “he’s a complicated and flawed character but that doesn’t make him BAD” and it was also like that with day at certain points, well now I raise you: last twilight is a complicated and flawed show but that doesn’t make it BAD!!!

[dykeyuu]

i spent 7 hours studying for one subject today no problem and even had fun doing it + im trying to imagine what middle/high school would’ve been like if i’d been properly medicated

[peppermintprism]

In my experience, this doesn’t have an age cap either. I was homeschooled up until college so never ran into any issues with the school structure as a kid. I started attending community college at 17 and was that “joy to have in class” for several of my teachers.

Guess who, at the age of 25, just got told by her therapist that she should go get an ADHD assessment?

"a joy to have in class" aka This Child Will Not Be Diagnosed for at least Eight Years

[andrewjbernhard]

Litigating Disputes Between Corporate Management in Florida: Legal Insights and Case Law

Facing a corporate management dispute in Florida? Learn how to navigate legal challenges, from fiduciary duties to shareholder rights, with our latest article.

Disputes among corporate management can create significant challenges for any business. In Florida, as in other jurisdictions, these conflicts—whether between board members, executives, or shareholders—can lead to costly litigation, regulatory scrutiny, and reputational damage. When corporate governance issues, breach of fiduciary duty, or executive disputes escalate, litigation may be the only…

[delladelightfulcomic]

Kahlia has some... odd ways to handle snow warfare.

[absentlyabbie]

yeah they're meant to be separate feelings so if you've got a regular doctor you might want to discuss it with them to see if you can pursue what's causing it and possible solutions

"nauseated" and "hungry" are two feelings that should NOT be allowed to coincide

[usnewsper-business]

Executives and Labor Need to Find a Balance #compensation #employees #executives #labor #work

[aghostwriting]

need to work on my tags