U.S. pink slips jump 71 percent

UPI ^ | 6 May 2003 | Al Swanson

[crazykatz]

Check out my post #39 please.

[Koblenz]

And yet somehow the CEOs and the members of the board of directors continue to draw salaries that spiral ever upward at a rate not to be believed.

CEOs and Directors should be highly compensated if their company's stock does better than other companies in the sector. Many companies these days seem to be paying management a lot of money when it doesn't seem all that justified. However, instead of looking at the actual dollar amounts paid, look to see HOW the CEO is compensated. If one company is doing terribly but the CEO makes $500,000, he's probably getting too much. But if another company does really well and the CEO gets $5 million, I don't necessarily have a problem with that.

However, many people seem to think that CEOs shouldn't be getting high salaries when they're laying off people. This doesn't make much sense: companies should hire as few people as possible to get the job done right. CEOs should be rewarded if they can trim the fat. Just don't cut any meat. That's why tying their compensation to stock performance is a good thing. If they cut too much, the stock'll tank because that company cannot deliver. If they cut to little, that company will be bloated.

[waterstraat]

Did I miss the "/ sarcasm" tag?

I just dont understand if americans are needing jobs, why we are lettting in millions of foreigners to take what jobs we do have?

[sakic]

If they cut too much, the stock'll tank because that company cannot deliver. If they cut to little, that company will be bloated.

One of the problems is that by the time a stock tanks the head honchos have already raped the company for millions. Even more amazing is when companies tank and the heads continue to pull millions out, and yet it happens.

[freedumb2003]

I just dont understand if americans are needing jobs, why we are lettting in millions of foreigners to take what jobs we do have?

I am in total agreement. If you read my entire post, you'll see that I was saying that the old saw about illegals taking jobs "Americans won't take" is bunk.

I agree we need our borders tightened and immigration scaled way back if we want to surivive as anything more than a big 3rd world country.

[waterstraat]

I hope to make money marketing bumper stickers with the slogan: "I'm unemployed and I vote!"

Ross Perot and Pat Buchannan can tell you that american voters do not care about all the american factories closing and all the american jobs that are being replaced by foreigners. Buchannan made losing jobs his number one issue, and he got 1% of the vote.

[Gary Boldwater]

What you say is true. However Buchanan and Perot ran for political office, they did not make bumper stickers for profit. If just 1% of the voters bought my bumperstickers (I'm not running for office) and I made $1 profit for each, that's a tidy sum.

[Eagle Eye]

It's funny to see, worldwide, how many people emmigrate to find work. And everywhere you go, someone is hollering about the damn 'feriners'.

[Joe Hadenuf]

Interest rates will be dropping soon...Again....Bet the rent.

[Consort]

...and the pink slips are printed in China.

[dirtboy]

The Chicago-based recruitment company, which has tracked corporate layoff announcements on a daily basis since 1993, said Monday that 57,927 jobs cuts were in government, the largest single monthly toll in any sector since September 2001.

And this is bad news because? If we want to shrink government, soone or later it means some government workers will lose their jobs.

[dogbyte12]

My wife's district manager told her yesterday that she had to double the sale's plan in order to be able to pay out 1 more 8 hour shift to a near minimum wage assistant.

Her target is about $5,000 a week. She needs to sell $10,000 to get 8 more hours of help. It's a wonder I hardly ever see her. Could it be because she is on salary?

[biblewonk]

It's all Enron's fault. Now corporations have to show that they are losing money and the quickest solution to that is to cut staff, benefits, even vacation accrual(sp).

[TopDog2]

Obviously, these companies are only getting rid of the slacker buggy whip makers. This means that we are better off because those that aren't working can buy products more cheaply. Someone, somewhere, somehow will create a whole new paradigm that will give the US an edge over other countries. Those dismissed should go to school/start their own business/eat cake.