Capitalism, The Best Solution to Poverty

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Re: Capitalism, The Best Solution to Poverty

Post by Hermit » Wed Apr 07, 2021 9:50 am

Scot Dutchy wrote:
Wed Apr 07, 2021 9:19 am
How do they estimate richness.
Net assets.
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Re: Capitalism, The Best Solution to Poverty

Post by Scot Dutchy » Wed Apr 07, 2021 10:42 am

Hermit wrote:
Wed Apr 07, 2021 9:50 am
Scot Dutchy wrote:
Wed Apr 07, 2021 9:19 am
How do they estimate richness.
Net assets.
When you fiddle everything like Trump does what are his net assets? Undefinable.
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Re: Capitalism, The Best Solution to Poverty

Post by Hermit » Wed Apr 07, 2021 11:46 am

Scot Dutchy wrote:
Wed Apr 07, 2021 10:42 am
Hermit wrote:
Wed Apr 07, 2021 9:50 am
Scot Dutchy wrote:
Wed Apr 07, 2021 9:19 am
How do they estimate richness.
Net assets.
When you fiddle everything like Trump does what are his net assets? Undefinable.
Forbes does not sort billionaire rankings by what the billionaires claim. They base them on what the available paperwork says. There is of cours an error margin, but it tends to be fairly minor. The local version (200 richest Australians) rated a classmate of mine as having a net worth of AU$330 million while he asserted that it is nudging the billion dollar mark. A little later he sold his primary business for AU289 million, but kept his real estate portfolio, which is worth another several million.

Similarly, Forbes slotted Trump's net assets in at around 5 billion a few years ago when he claimed them to be worth almost twice as much. I am confident that the rankings are pretty close to reality.
I am, somehow, less interested in the weight and convolutions of Einstein’s brain than in the near certainty that people of equal talent have lived and died in cotton fields and sweatshops. - Stephen J. Gould

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Re: Capitalism, The Best Solution to Poverty

Post by Scot Dutchy » Wed Apr 07, 2021 12:54 pm

Rich people always want to appear richer. As Brian said 1 billion more less on paper is irre(r)(l)evant.
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Re: Capitalism, The Best Solution to Poverty

Post by Hermit » Wed Apr 07, 2021 7:18 pm

Scot Dutchy wrote:
Wed Apr 07, 2021 12:54 pm
Rich people always want to appear richer. As Brian said 1 billion more less on paper is irre(r)(l)evant.
Duh. I just gave you two examples in my previous post.
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Re: Capitalism, The Best Solution to Poverty

Post by Scot Dutchy » Wed Apr 07, 2021 9:57 pm

They are examples Hermit but not reality. Reality is for dreamers. The rich say they are rich as they or someone can produce fairy data to prove they have a bottom line. If you fiddle like Trump you will always be rich.
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Re: Capitalism, The Best Solution to Poverty

Post by Brian Peacock » Wed Apr 07, 2021 11:40 pm

I reckon that (when talking about the stupidly wealthy) after a point the richer you become the more likely you are to under report the true worth of your assets.
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Re: Capitalism, The Best Solution to Poverty

Post by Scot Dutchy » Thu Apr 08, 2021 7:58 am

I think you dont care anymore. It is the fraudsters like Trump that care about their image.
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Re: Capitalism, The Best Solution to Poverty

Post by L'Emmerdeur » Tue May 11, 2021 10:37 pm

The system works.

'CEO Pay Skyrocketed at Corporations While Their Low-Wage Workers Suffered in the Pandemic'
During the pandemic, low-wage workers have lost income, jobs, and lives. And yet many of the nation's top-tier corporations have been fixated on protecting their wealthy CEOs, even bending their own rules to pump up executive paychecks.

A new Institute for Policy Studies report finds that 51 of the country's 100 largest low-wage employers moved bonus goalposts or made other rule changes in 2020 to give their CEOs 29 percent average raises while their frontline employees made 2 percent less.

Among these 51 rule-rigging companies, average CEO compensation was $15.3 million in 2020, while median worker pay was $28,187 on average. The average CEO- worker pay ratio: 830 to 1.

How exactly did these companies rig their CEO pay rules? Let's look at a few examples.

Hilton CEO Christopher Nassetta had the largest paycheck among the rule-rigging companies. After he failed to meet the goals associated with his multi-year stock awards, the board "modified" the awards by disregarding poor 2020 financial results and changing the performance metrics. Those maneuvers inflated his total compensation to $56 million—1,953 times as much as the company's median worker pay of $28,608 in 2020.

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Re: Capitalism, The Best Solution to Poverty

Post by L'Emmerdeur » Fri May 14, 2021 6:26 am

Case in point:

'Kroger, Blasted for Ending Hazard Pay, Gave CEO $22 Million'
Kroger Co. Chief Executive Officer Rodney McMullen found himself in a hailstorm of criticism last spring over hazard pay to frontline workers.

In early 2020, as the coronavirus swept across the U.S., McMullen announced a $2 hourly hazard increase, or “Hero Bonus,” for store and warehouse workers. Two months later, the company ended the raise -- even as critics pointed out that the hazard remained.

McMullen, meanwhile, collected a $22.4 million pay package for 2020 -- his largest haul since he became Kroger’s boss in 2014.

The package, disclosed Thursday in a regulatory filing, rose almost 6% from the prior year thanks to a bigger bonus, a larger package of stock awards and a salary increase. Pay for Kroger’s median employee fell 8% to $24,617.

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Re: Capitalism, The Best Solution to Poverty

Post by Svartalf » Fri May 14, 2021 10:57 am

I don't remember if the point has been evoked... Did we reflect on WHOSE poverty capitalism was a solution for?
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Re: Capitalism, The Best Solution to Poverty

Post by pErvinalia » Fri May 14, 2021 11:22 am

The poverty of empathy of the capitalist class.
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Re: Capitalism, The Best Solution to Poverty

Post by Hermit » Fri Jun 04, 2021 4:18 pm

I am, somehow, less interested in the weight and convolutions of Einstein’s brain than in the near certainty that people of equal talent have lived and died in cotton fields and sweatshops. - Stephen J. Gould

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Re: Capitalism, The Best Solution to Poverty

Post by Brian Peacock » Fri Jun 04, 2021 5:34 pm

V good. :)
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There are two other possibilities: one is paperwork, and the other is nostalgia."

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"This is how humanity ends; bickering over the irrelevant."
Clinton Huxley » 21 Jun 2012 » 14:10:36 GMT
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Re: Capitalism, The Best Solution to Poverty

Post by Cunt » Sat Jun 05, 2021 9:49 pm

Ok, Boomer girl goes woke.

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