As long as a company is profitable the people in charge are worth their billions, right! Not a word about how they treat employees, fair competition or contributions to a suistainable development. Apple for example have a history of unfair competition. Their products are manufactured by standards totally unacceptable in any civilized country. Still, millions salute Apple while paying insane prices (with regard to actual manufacturing costs) to get their slice of the Steve Jobs pie. Disgusting!
This is why we're not supposed to bail them out! If the ceo's keep failing, normally no companies would want them, but if we keep bailing them out, companies would have no incentive not to fire them.
How stupid america is for not getting outraged about the 100% useless actors and the damage they do to society but they think CEO's who worked for their money and give service to the society (at least partially) are paid too much!
Darwin's plagiarized writings have become the bible of globaloneyists/eugenicists worldwide, from plain Jane Goodall, to public ward Jacques Cousteau.
@ignbtd Problem is you cant bring the poor people up with out bringing the rich down, because how do you get the money to bring the poor up, i also believe people that people should earn their money by being smart, dumb people shouldnt be given money.
@wowzinger That's not true. You're arguing for wealth redistribution, and it doesn't work that way. America became prosperous (notwithstanding the outstanding debt) without forcing money out of the hands of the wealthy. You can provide a good product or service and good-paying jobs to people without giving up some of your own pay to a certain degree. I must emphasize I am not speaking in absolutes; you are, however.
Why? Do the math....there is ONE ceo for every 1000 blue collar worker!
This is the way they encourage division of classes....so the poor...will stay..poor..and the rich...will stay rich!....NO EQUAL DISTRIBUTION OF WEALTH EXISTS IN A CAPITALIST PIG SOCIETY
@ATG0009 Equality IS BAD, equality is also greed!! by steeling from the wealthy you are going against human rights, it is a human right to have the freedom to sucessed and be wealthy, YOU reap what you sow
John Stossel busted his own myth that greed is good.. and you won't get good CEOs if you dont pay their asked price. Ha ha eat your words.. conservative loser :)
I can't speak for everyone but as an hourly employee working for a large corporation, many of us feel that CEO's get more than their fair share of the profits. I can accept that the CEO's should get a bigger share but how much bigger is the issue. It's a hard question to answer. I am also union & I feel that unions help us get a more fair wage. I get paid more than most nonunion employees who do a similar type of work, which indicates those companies could pay their workers more but they don't.
Ever go shopping, get to the checkout, and find that you bought something on sale? A sale you didn't know about? There's more than just an "indication" you could pay more. There's proof.
What did you do? Pay the full price? Or the sale price?
Would you tell the rest waiting in line there's an "indication" they can pay more?
Business buys labor, just like you buy stuff. The economics is no different.
@jeffiek I'm not sure what you're point is. Employers almost always try to pay the least amount possible. In other words pay is proportional to what the employer can get away with rather than proportional to how much the workers actually contribute to the company's success. A union can coerce the employer to reveal his profit margin and thus bargain for a bigger share on behalf of the workers. As long as the employer makes decent projections the union won't break the company.
@amalt37 I was talking about private companies. With gov't employee unions the situation is different. The gov't isn't spending it's own money, it's spending taxpayer money. The gov't will sign contracts with little to no thought of cost because the gov't cares more about getting union votes come election time. Essentially the gov't is buying union votes with taxpayer money and that's not fair. Gov't employee unions should have restrictions such as basing off of comparable private sector jobs.
@amalt37 For example a public schoolteacher's union should not be able to bargain for more than say 10-15% over what the average comparable private schoolteacher earns.
@jeffiek Ok thanks, I see your point now. But that is also no different from workers trying to get the most pay. I generally like Stossel but I have seen other videos where he argues against unions. I see no difference between unions and other contract negotiators such as agents who negotiate on behalf of clients like actors, baseball players, etc. But then I don't think you were agruing against unions so maybe I shouldn't have brought it up, sorry.
@jeffiek Right, except when the customer's incentives prevail to purchase a product to the point where the company cannot produce at such level, it'll result in its failure. If the employee is not paid accordingly, it'll result in his lowered standard of living.
You could claim that the customer and employee are free to choose another shop or employer. But when the system has been set up that the prices are correlated to even lower salaries (for profit), the employee will lose at the end.
@jeffiek Exactly! the there is this strage notion amoung people in various countries that the free market is not "fair". And therefoere someone should "adjust it". Makes me laugh... what is "fair"? Who should decide what is a fair price? The workers? the boss? God forbid... the government?
That's the reason why we Chinese always favor putting our extra money on precious metals and properties rather than stocks or investment funds. And that's the reason why Asia wasn't hit too much by the global financial tsunami, and that gold prices keep going up.
Eventually it won't matter who is rich or poor, as the economy is going through a downward spiral like never before...climate/nature, and the laws of the universe will handle all of the sin, selfishness, greed, and materialism, and rapidly lessen the human population.
the average person does know that CEO's are paid much more than they are worth as with entertainers.... but the system is what it is and as long as we will pay $80,000 for a damn ticket to a basketball game... we will see this trend continue.. It is much like the arisctocricies and beagousise, at some point, when people are hungry enough, heads will roll....
This comment has received too many negative votesshow
up yours john , look in the mirror what do you see? i see a candy ass yuppy trying to turn up the heat. just because you have a mustache doesn't mean you know whats going on
how about clause the says we can fire you if you screw up that was lawyers do put in clause to get rid of problems like that an not have to pay a cent
Just a thought: if you comment on this video, you're likely a part of a more aware audience. If a company offers massive sums of money to a CEO that doesn't deserve it, the company will struggle and the Board follows down the tank. Capitalism is survival of the fittest.
Most americans have no idea whats really going on, they dont know about the federal reserve not being accountable to anyone, they don't know that their money isnt backed by gold or silver. Hell alot of people still dont know that 3 towers fell on 911 instead of 2. I heard 70% of the american GDP is consumer debt...and now everyone is pointing fingers about who lied on their mortgage apps and who didn't, when the hell did 'accountability' for our actions lose any and all meaning?
The last point about severance packages is wrong. A Board of Directors should fire a CEO without having to give them massive bonuses after doing a shitty job. That should not be in the contract
Unfortunately it is in the contract as he plainly stated - it's an old boys club and they prepare a contract that benefits them not the shareholders. Give shareholders more control and you put a stop to this nonsense.
public education and college idolization is making the American people into brainless conformist zombies that are tearing the economy apart!!! We are living in a collegetatorship. By the way I am a community college student and I deduce this from my experiences I don't need anyone to tell me this.
@fornello123 In a truelly civilized society you don't make insane contracts in first place. Rule of law is not an indicator of how civlized a society is per se. I guess Saudi Arabia is a country governed by rule of law. But, I would not call their laws civilized. Btw, from a judiciary perspective USA is everything but a civilized society. The whole system is utterly corrupted and obsolelte. White people who can afford expensive lawyers are usually much better off than others.
People have no idea what CEO's do and how important they are to getting us the goods and services we expect. There are some that have abused the system but the average American has no idea what they are talking about when it comes to CEO's and their pay.
@rexspe absolute nonsense. all CEOs could drop dead tomorrow and would easily be replaced. you are a fool to believe they are not highly replaceable just like everyone else.
@rexspe yeah, sounds like you are one of those little dicklickers that thinks that you're going to get preferential treatment as a minion by the ruling class of this country because you DEFEND and JUSTIFY corporate greed. Sky's the limit for pay is all great but has it's place where it gets disgusting and grotesque. Anytime you need to justify something, it's wrong. Justifications are excuses for wrongful acts so you can feel better about things deep down you know is wrong.
Ah yes, the entitled class. Did you know that most millionares are first generation? It's easy to make these people villans and bitch than to figure out why you're a failure. Why don't you look at who pays the majority of the taxes in this country and then come back and tell me who's keeping this train wreck afloat. People like me employ and support people like you with jobs and our taxes. And if we get rich then fuck you it's none of your concern.
@rexspe I EARNED $247,000 last year running my own business, you presumptuous asshole. Don't fucking tell me about paying high taxes. I am so sick of you armchair defenders of the wealthy (and I seriously doubt you make the income I do) trying to tell others how they should act. So endless greed should be ok because these "Aristocrats" pay most of the taxes. Here's a DEMOCRATIC and AMERICAN concept: FLAT TAX. You make $30,000 a year? you pay 15%. You make $50 million, you pay 15%.
I don't really care what you believe or don't about me but as far as that goes, you are just a likely to be making up your income so arguing about that is basically pointless. I absolutely believe in a flat tax. That is is the way to go but it will never happen. I think it's strange that someone who claims to run their own business believes that someone should only make so much money? If you provide a good or service legally, I don't care if you become a billionare.
Only thing that I find from your comment is that you evidently don't know anything about typing. Typos and miss spells are not the same kid. Be informed before you open your little mouth. I.e robed-ur....robbed..you're. there are some nerds that go around saying idiot u said "ur" you can't spell.
I thought the college segment was very interesting, looking at college as a monetary investment(not even counting time) instead of something you must do changes everything. For some people(not all) the investment is wasted and the return not forthcoming, they show that these people have better options. Me, i want to become a teacher so i have to go to school but im working at the same time and im going to a city school, much cheaper.
yeah true. I believe we only hear about the ´´horror stories´´ of bad CEOs getting paid 25m to leave, we dont hear about the thousands of successful ones..
Microsoft could do much better products really. Too many bugs. But still without them and Windows the vast home computer revolution would be impossible to conceive. Linux is cool, but still after many, many years of trying not up to par.
The college one is really dumb. Dumb, referring to that there are no valid points or strong arguments made in the segment. Still worth watching, however.
Talk to the bottom 40% of your high school graduating class. Talk to the ones who thought they would go to college and see what they're up to when they are 25.
As long as a company is profitable the people in charge are worth their billions, right! Not a word about how they treat employees, fair competition or contributions to a suistainable development. Apple for example have a history of unfair competition. Their products are manufactured by standards totally unacceptable in any civilized country. Still, millions salute Apple while paying insane prices (with regard to actual manufacturing costs) to get their slice of the Steve Jobs pie. Disgusting!
buugiman78 2 months ago
This is why we're not supposed to bail them out! If the ceo's keep failing, normally no companies would want them, but if we keep bailing them out, companies would have no incentive not to fire them.
ca1cifer 3 months ago
How stupid america is for not getting outraged about the 100% useless actors and the damage they do to society but they think CEO's who worked for their money and give service to the society (at least partially) are paid too much!
jessica5666 4 months ago
@jessica5666 Actors don't work? Do they have doubles who do all their parts while they are aout partying or what do you mean?
buugiman78 2 months ago
RIP Steve Jobs. A great man. Presidents, economists and academics come and go, but it's great men like him that advance civilizations.
seppsters 4 months ago 5
Darwin's plagiarized writings have become the bible of globaloneyists/eugenicists worldwide, from plain Jane Goodall, to public ward Jacques Cousteau.
FinallyTheNight 5 months ago
Steve Jobs is simply passing to us alien technology.
FinallyTheNight 5 months ago
This has been flagged as spam show
actors dont need all that money!
ilovetofingermyself1 5 months ago
@ignbtd Problem is you cant bring the poor people up with out bringing the rich down, because how do you get the money to bring the poor up, i also believe people that people should earn their money by being smart, dumb people shouldnt be given money.
wowzinger 6 months ago
@wowzinger That's not true. You're arguing for wealth redistribution, and it doesn't work that way. America became prosperous (notwithstanding the outstanding debt) without forcing money out of the hands of the wealthy. You can provide a good product or service and good-paying jobs to people without giving up some of your own pay to a certain degree. I must emphasize I am not speaking in absolutes; you are, however.
kommisar 5 months ago
@kommisar I know, im against redistribution of wealth, the only other way the poor and bring them selves up is to get smart,
wowzinger 5 months ago
Why? Do the math....there is ONE ceo for every 1000 blue collar worker!
This is the way they encourage division of classes....so the poor...will stay..poor..and the rich...will stay rich!....NO EQUAL DISTRIBUTION OF WEALTH EXISTS IN A CAPITALIST PIG SOCIETY
ATG0009 6 months ago
@ATG0009 Equality IS BAD, equality is also greed!! by steeling from the wealthy you are going against human rights, it is a human right to have the freedom to sucessed and be wealthy, YOU reap what you sow
wowzinger 6 months ago
@ATG0009 Looter.
zsspencer 4 months ago
The harder I worked, the less I earned.
The easier the job, the more money I made.
Reality 101.
cheeriosinabowl 7 months ago
@cheeriosinabowl - Are you in the sex industry now?
KryptoLinux 6 months ago
@KryptoLinux
... to answer your question.... no, I am not.
Who said anything about sex?
cheeriosinabowl 6 months ago
@cheeriosinabowl - The guy sitting next to me who read your comment. ;-D
KryptoLinux 6 months ago
The cato guy is right but after we pay them the millions we can always steal it back, and there is honor in that, remember robin hood!
mmaaxx1198 8 months ago
John Stossel busted his own myth that greed is good.. and you won't get good CEOs if you dont pay their asked price. Ha ha eat your words.. conservative loser :)
gabsave 8 months ago
@gabsave fuck off
Shonenut213 7 months ago
4:40 "I assume the leaders of the board aren't stooopid" xD
TheDunkkan 9 months ago
I can't speak for everyone but as an hourly employee working for a large corporation, many of us feel that CEO's get more than their fair share of the profits. I can accept that the CEO's should get a bigger share but how much bigger is the issue. It's a hard question to answer. I am also union & I feel that unions help us get a more fair wage. I get paid more than most nonunion employees who do a similar type of work, which indicates those companies could pay their workers more but they don't.
amalt37 11 months ago
@amalt37 "could pay their workers"
Ever go shopping, get to the checkout, and find that you bought something on sale? A sale you didn't know about? There's more than just an "indication" you could pay more. There's proof.
What did you do? Pay the full price? Or the sale price?
Would you tell the rest waiting in line there's an "indication" they can pay more?
Business buys labor, just like you buy stuff. The economics is no different.
jeffiek 11 months ago
@jeffiek I'm not sure what you're point is. Employers almost always try to pay the least amount possible. In other words pay is proportional to what the employer can get away with rather than proportional to how much the workers actually contribute to the company's success. A union can coerce the employer to reveal his profit margin and thus bargain for a bigger share on behalf of the workers. As long as the employer makes decent projections the union won't break the company.
amalt37 11 months ago
@amalt37 I was talking about private companies. With gov't employee unions the situation is different. The gov't isn't spending it's own money, it's spending taxpayer money. The gov't will sign contracts with little to no thought of cost because the gov't cares more about getting union votes come election time. Essentially the gov't is buying union votes with taxpayer money and that's not fair. Gov't employee unions should have restrictions such as basing off of comparable private sector jobs.
amalt37 11 months ago
@amalt37 For example a public schoolteacher's union should not be able to bargain for more than say 10-15% over what the average comparable private schoolteacher earns.
amalt37 11 months ago
@amalt37
"Employers almost always try to pay the least amount possible." -- is no different than --
Customers almost always try to pay the least amount possible.
So my point is exactly what I said it was - "Business buys labor, just like you buy stuff. The economics is no different"
People forget that "buy" and "sell" are interchangeable. I buy money with my labor.
Same goes for "fire" and "quit". I have fired several employers.
"employer" and "customer"
"employee" and "retailer"
jeffiek 11 months ago
@jeffiek Ok thanks, I see your point now. But that is also no different from workers trying to get the most pay. I generally like Stossel but I have seen other videos where he argues against unions. I see no difference between unions and other contract negotiators such as agents who negotiate on behalf of clients like actors, baseball players, etc. But then I don't think you were agruing against unions so maybe I shouldn't have brought it up, sorry.
amalt37 11 months ago
@jeffiek Right, except when the customer's incentives prevail to purchase a product to the point where the company cannot produce at such level, it'll result in its failure. If the employee is not paid accordingly, it'll result in his lowered standard of living.
You could claim that the customer and employee are free to choose another shop or employer. But when the system has been set up that the prices are correlated to even lower salaries (for profit), the employee will lose at the end.
ninuxy 7 months ago
@jeffiek Exactly! the there is this strage notion amoung people in various countries that the free market is not "fair". And therefoere someone should "adjust it". Makes me laugh... what is "fair"? Who should decide what is a fair price? The workers? the boss? God forbid... the government?
mindOFAlibertarian 8 months ago
Jealousy is a curse!
tyrahk 11 months ago
In USA 1% owns more then 90% of all economic assets...
And your government is broke, by the way :)
HarvardBoxer 1 year ago
That's the reason why we Chinese always favor putting our extra money on precious metals and properties rather than stocks or investment funds. And that's the reason why Asia wasn't hit too much by the global financial tsunami, and that gold prices keep going up.
stephentsang2000 1 year ago
Eventually it won't matter who is rich or poor, as the economy is going through a downward spiral like never before...climate/nature, and the laws of the universe will handle all of the sin, selfishness, greed, and materialism, and rapidly lessen the human population.
prettylyricsmarie 1 year ago
Being a performer only requires a high school diploma.
You sell your soul to the folks who studied business to make a liviing,
Don't praise these performers.
jshjamaar 1 year ago
(5:07) dose anybody know where is this banana republic is? i would love to visit it one day!
sound fun
deadncryin 1 year ago
his ROA calculation is stupid ...
alg3r1a 1 year ago
@alg3r1a i mean ROI
alg3r1a 1 year ago
the average person does know that CEO's are paid much more than they are worth as with entertainers.... but the system is what it is and as long as we will pay $80,000 for a damn ticket to a basketball game... we will see this trend continue.. It is much like the arisctocricies and beagousise, at some point, when people are hungry enough, heads will roll....
debgbls323 1 year ago
I wonder how John Stossel feels about Pro Wrestling? ... HAHAHAHAHAHAHAHA!!!!!!
theblunttruth 2 years ago 3
This comment has received too many negative votes show
up yours john , look in the mirror what do you see? i see a candy ass yuppy trying to turn up the heat. just because you have a mustache doesn't mean you know whats going on
ForexCheckMate 2 years ago
@ForexCheckMate Yes it does. Having a mustache means you know everything, and I should know, I have a mustache
polytide50 2 years ago
i was wrong please forgive me everyone, i grew a mustache in remorse
ForexCheckMate 2 years ago
This isnt true to all CEOs. Most CEOs in the Silicon Valley are paid bonuses through stock options, if the company does well, he gets paid.
sendyoshit 2 years ago 4
how about clause the says we can fire you if you screw up that was lawyers do put in clause to get rid of problems like that an not have to pay a cent
dvid22 2 years ago
Just a thought: if you comment on this video, you're likely a part of a more aware audience. If a company offers massive sums of money to a CEO that doesn't deserve it, the company will struggle and the Board follows down the tank. Capitalism is survival of the fittest.
CelerMortis 2 years ago
ya to bad the government is handing out bailouts now theres no fear of doing a bad job well just destroy the dollar no big deal
thelumberjackjohn 2 years ago
Most americans have no idea whats really going on, they dont know about the federal reserve not being accountable to anyone, they don't know that their money isnt backed by gold or silver. Hell alot of people still dont know that 3 towers fell on 911 instead of 2. I heard 70% of the american GDP is consumer debt...and now everyone is pointing fingers about who lied on their mortgage apps and who didn't, when the hell did 'accountability' for our actions lose any and all meaning?
mookixox 2 years ago 4
can agree with you more on that one. but you know the truth will come out one way or another.
thelumberjackjohn 2 years ago
mookixox I see you are awaken...6mo later
neanam 2 years ago
The last point about severance packages is wrong. A Board of Directors should fire a CEO without having to give them massive bonuses after doing a shitty job. That should not be in the contract
BikiniBabe1985 2 years ago
Unfortunately it is in the contract as he plainly stated - it's an old boys club and they prepare a contract that benefits them not the shareholders. Give shareholders more control and you put a stop to this nonsense.
grumpone 2 years ago
This has been flagged as spam show
public education and college idolization is making the American people into brainless conformist zombies that are tearing the economy apart!!! We are living in a collegetatorship. By the way I am a community college student and I deduce this from my experiences I don't need anyone to tell me this.
74u73hjd 2 years ago
the cato guy hit it on the head... in a civilized society you honor contracts.
fornello123 3 years ago 23
@fornello123 In a truelly civilized society you don't make insane contracts in first place. Rule of law is not an indicator of how civlized a society is per se. I guess Saudi Arabia is a country governed by rule of law. But, I would not call their laws civilized. Btw, from a judiciary perspective USA is everything but a civilized society. The whole system is utterly corrupted and obsolelte. White people who can afford expensive lawyers are usually much better off than others.
buugiman78 2 months ago
People have no idea what CEO's do and how important they are to getting us the goods and services we expect. There are some that have abused the system but the average American has no idea what they are talking about when it comes to CEO's and their pay.
rexspe 3 years ago 24
@rexspe absolute nonsense. all CEOs could drop dead tomorrow and would easily be replaced. you are a fool to believe they are not highly replaceable just like everyone else.
jorgandar 1 year ago
@rexspe yeah, sounds like you are one of those little dicklickers that thinks that you're going to get preferential treatment as a minion by the ruling class of this country because you DEFEND and JUSTIFY corporate greed. Sky's the limit for pay is all great but has it's place where it gets disgusting and grotesque. Anytime you need to justify something, it's wrong. Justifications are excuses for wrongful acts so you can feel better about things deep down you know is wrong.
guitarthroat 1 year ago
@guitarthroat
Ah yes, the entitled class. Did you know that most millionares are first generation? It's easy to make these people villans and bitch than to figure out why you're a failure. Why don't you look at who pays the majority of the taxes in this country and then come back and tell me who's keeping this train wreck afloat. People like me employ and support people like you with jobs and our taxes. And if we get rich then fuck you it's none of your concern.
rexspe 1 year ago
@rexspe I EARNED $247,000 last year running my own business, you presumptuous asshole. Don't fucking tell me about paying high taxes. I am so sick of you armchair defenders of the wealthy (and I seriously doubt you make the income I do) trying to tell others how they should act. So endless greed should be ok because these "Aristocrats" pay most of the taxes. Here's a DEMOCRATIC and AMERICAN concept: FLAT TAX. You make $30,000 a year? you pay 15%. You make $50 million, you pay 15%.
guitarthroat 1 year ago
@guitarthroat
I don't really care what you believe or don't about me but as far as that goes, you are just a likely to be making up your income so arguing about that is basically pointless. I absolutely believe in a flat tax. That is is the way to go but it will never happen. I think it's strange that someone who claims to run their own business believes that someone should only make so much money? If you provide a good or service legally, I don't care if you become a billionare.
rexspe 1 year ago
@rexspe no man does so much more then another, to make 400x the amount of an employee.
TyTrig 1 year ago
my buddy had 2 years in collose I took 3 seaons in a trade school both for pc's he can't do what i can He got robed.
cmichael442 3 years ago 6
You might be right, but you need to learn to spell "college" and "robbed"
mcdonalds411 2 years ago
Only thing that I find from your comment is that you evidently don't know anything about typing. Typos and miss spells are not the same kid. Be informed before you open your little mouth. I.e robed-ur....robbed..you're. there are some nerds that go around saying idiot u said "ur" you can't spell.
cmichael442 2 years ago
I thought the college segment was very interesting, looking at college as a monetary investment(not even counting time) instead of something you must do changes everything. For some people(not all) the investment is wasted and the return not forthcoming, they show that these people have better options. Me, i want to become a teacher so i have to go to school but im working at the same time and im going to a city school, much cheaper.
adeadmilkmen 3 years ago 6
Comment removed
adeadmilkmen 3 years ago
The only CEO's who get respect is Steve Jobs and Bill Gates. because they make good products. Others are questionable.
Dook6 3 years ago 3
yeah true. I believe we only hear about the ´´horror stories´´ of bad CEOs getting paid 25m to leave, we dont hear about the thousands of successful ones..
siggensax 2 years ago
Microsoft could do much better products really. Too many bugs. But still without them and Windows the vast home computer revolution would be impossible to conceive. Linux is cool, but still after many, many years of trying not up to par.
grumpone 2 years ago
The college one is really dumb. Dumb, referring to that there are no valid points or strong arguments made in the segment. Still worth watching, however.
absolutmeliss 3 years ago
Talk to the bottom 40% of your high school graduating class. Talk to the ones who thought they would go to college and see what they're up to when they are 25.
hullolife 2 years ago 2
you just saw Is college worth it with john stossell before commenting on this
cellardoor199991 2 years ago
I wanted to see the one on college...are u gonna post that?
cjonz613 3 years ago
I have the Video
Dook6 3 years ago
the title is "John Stossel Is College Worth It? 20/20 ABC News" I found it very strange.
Dook6 3 years ago