0 Persons are tagged with #ceo

#ceo

libramoon@diaspora.glasswings.com
libramoon

https://jacobin.com/2023/11/ceo-performance-pay-inequality-tax-loopholes-stock-buybacks-trickle-down-myths/

#CEO Performance Pay Is One of #Capitalism’s Great Myths
BY
LUKE SAVAGE

..."A new analysis jointly conducted by the Institute for Policy Studies (IPS) and the Congressional Progressive Caucus Center (CPCC) suggests that colossal increases in CEO pay are unrelated to improved performance and reflect little more than “a rigged system that extracts wealth from ordinary workers and channels profits to the top of the corporate ladder.” This is immediately evident when you look at the methods used to inflate compensation for the highest-paid executives.

Once illegal and considered a form of market manipulation, stock buybacks allow a company to artificially inflate its own value. In 2021 and 2022, the analysis notes, companies on the S&P 500 spent a record amount on the practice and, since the lion’s share of CEO pay (on average just over 80 percent) now comes in the form of stock options, the upshot is that executives get a massive boost as well.

As William Lazonick put it in the Harvard Business Review nearly a decade ago: “Why are such massive resources being devoted to stock repurchases? Corporate executives give several reasons . . . but none of them has close to the explanatory power of this simple truth: Stock-based instruments make up the majority of their pay, and in the short term buybacks drive up stock prices.” Far from being efficient, moreover, the IPC/CPCC analysis points out that the billions now spent every year on stock buybacks represent money that might otherwise be directed to more productive or constructive ends like research or simply higher wages at a company.

Needless to say, there is no particularly good or defensible reason for an executive to make hundreds or thousands of times more than a worker. There are, however, plenty of relatively straightforward ways that the problem of outlandish CEO compensation could be addressed through tax policy. As the analysis notes, the Tax Excessive CEO Pay Act backed by Bernie Sanders and Elizabeth Warren in the Senate and Barbara Lee and Rashida Tlaib in the House would link the federal corporate tax rate paid by companies to the size of the gap between median CEO and worker pay. Other options include levying an excise tax on firms with a disparity of more than 50:1 and closing tax loopholes that enable executives to park money in special tax-deferred accounts."...

CEO Performance Pay Is One of Capitalism’s Great Myths

The ratio of CEO pay to worker pay is almost 300 to 1. Are we really supposed to believe CEOs work 300 times harder or create 300 times more value than us?

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anonymiss@despora.de
anonymiss

#SamAltman to return as #CEO of #OpenAI

Source: https://www.theguardian.com/technology/2023/nov/22/sam-altman-openai-ceo-return-board-chatgpt

The San Francisco-based #company made the announcement after days of corporate drama in the wake of Altman’s surprise sacking on Friday. Nearly all of OpenAI’s 750-strong #workforce had threatened to quit unless the board overseeing the #business brought back #Altman and then quit immediately afterwards.

#news #ai #economy #management

anonymiss@despora.de
anonymiss

Is your #workplace ready for flexible #work? A survey offers clues.

Source: https://www.mckinsey.com/industries/real-estate/our-insights/is-your-workplace-ready-for-flexible-work-a-survey-offers-clues

"Though organizations acknowledge that hybrid work is the new normal, most have not yet adopted true hybrid principles, which include creating policies, workflows, and documentation to help employees understand the most effective ways of #hybrid working."

...

"Many #company leaders today are preoccupied with the ongoing debate about days in the office rather than the capabilities and strategies being deployed to create a sustainable, responsive, and magnetic workplace experience."

#news #economy #society #politics #management #leader #problem #office #employee #labour #ceo #capitalism

Is your workplace ready for flexible work? A survey offers clues

Flexible work can deliver both better employee engagement and real estate savings. Here’s how tenants and investors can prepare.

One person like that
anonymiss@despora.de
anonymiss

Was the action with the #sink at #Twitter actually silly, funny, poetic or embarrassing?

I found it funny at least that journalists outside the English-speaking world didn't understand the verbiage and spent a long time puzzling over whether he was completely off his rocker. What happened to the sink? Should the next Twitter #CEO also bring a sink or should Musk go out on his last day with a sink?

#question #economy #internet #office #leadership #joke #satire #humor #fun #funny

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florida_ted@diasp.org
Ted

Drizly CEO accountable for alleged security failures

The agency announced Monday that its four commissioners had voted unanimously to issue a proposed order against alcohol delivery platform Drizly and its CEO James Cory Rellas for allegedly failing to implement adequate security measures, which eventually resulted in a data 2020 breach exposing personal information on about 2.5 million consumers.

The FTC claims that despite being alerted to the security concerns two years before the breach, Drizly and Rellas did not do enough to protect their users’ information.

While settlements like this are not that uncommon for the FTC, its decision to name the CEO and have the stipulations follow him beyond his tenure at Drizly exemplifies an approach favored by Democratic Chair Lina Khan. Some progressive enforcers have argued that naming tech executives in their lawsuits should create a stronger deterrence signal for other potential violators.

#Drizly #CEO #FTC #Uber #user #personal_data #security #breach

https://www.cnbc.com/2022/10/24/ftc-seeks-to-hold-drizly-ceo-accountable-for-alleged-security-failures.html

One person like that
1 Comments
artsound2@diasp.eu
HU Art Sound

9th oligarch to die mysteriously this year

Russian energy exec found dead after ‘falling overboard’ in latest mysterious death

Russian energy executive Ivan Pechorin became the country’s latest elite businessman to die under mysterious circumstances after he reportedly fell from a speeding boat on Saturday night.

Pechorin, a managing director responsible for aviation at the Corporation for the Development of the Far East and the Arctic, was “already tipsy” before he boarded the boat with some friends, the pro-Kremlin news agency Pravda claimed. He fell overboard about 40 minutes into the journey...

https://globalnews.ca/news/9125813/russian-energy-executive-ivan-pechorin-mysterious-death/

#russia #ceo #death

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anonymiss@despora.de
anonymiss

TV Series #SiliconValley - the fazinantion of nerds to found a #startup ...

source: https://www.themoviedb.org/tv/60573-silicon-valley

The series is about a group of nerds creating a startup around a compression algorithm they developed. It is mentioned several times that compression is lossless and applicable to everything. Such a thing is not mathematically possible. It's a comedy series, so clichés are used and characters are exaggerated so their weaknesses can be used for jokes. Putting the fun aside, you still get a good insight into how hard it is to get funding even with a brilliant idea. Competitors try to copy your business model or hostilely take over your company. Of course, I can understand the fascination of being #CEO of your own company and that many people want to become like their role model Steve Jobs. However, for 99% of all nerds, the position of #CTO is much better suited and more in line with their skills. However, for 99% of all nerds, the position of CTO is much better suited and more in line with their skills. In the Incubator, for example, there is a Chinese man at the beginning with absurd ideas for an app, who then develops into a mafia boss over the course of the seasons. Well shown when you look behind the comedy though is the stress and the many failures and product changes you have to endure on the way up.

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#entertainment #technology #comedy #humor #nerd #geek #computer #algorithm #software #economy #finance

Silicon Valley

In the high-tech gold rush of modern Silicon Valley, the people most qualified to succeed are the least capable of handling success. Partially inspired by Mike Judge’s own experiences as a Silicon Valley engineer in the late ‘80s, Silicon Valley...

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anonymiss@despora.de
anonymiss

'They're ignoring all the alarms': Contractor resigns from #Shell with #warning to #staff about 'extreme harm' to #planet

source: https://news.sky.com/story/theyre-ignoring-all-the-alarms-contractor-resigns-from-shell-with-warning-to-staff-about-extreme-harm-to-planet-12619719

In a mass #email to over a thousand Shell employees including company #CEO Ben van #Beurden, Caroline #Dennett wrote: "The United Nations and the International #Energy Agency are clear: there is no safe level of new #oil and #gas extraction, any new projects commit us to global #overheating and an un-liveable #world.

#UNO #news #environment #emissions #ethics #economy #pollution #future #protest #problem #greenhouseEffect #co2 #climate

'They're ignoring all the alarms': Contractor resigns from Shell with warning to staff about 'extreme harm' to planet

Caroline Dennett told Sky News that working for Shell was no longer morally compatible with her beliefs about how best to protect the planet and the people who live on it.

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anonymiss@despora.de
anonymiss

#Zuckerberg Sued by DC Attorney General Over #Cambridge #Analytica Data Breach

source: https://www.cnet.com/news/social-media/zuckerberg-sued-by-dc-attorney-general-over-cambridge-analytica-data-breach/

#Washington DC Attorney General Karl Racine is suing #Meta #CEO Mark Zuckerberg. The #suit, which was filed in the DC Superior #Court on Monday, alleges that Zuckerberg was directly involved in decisions that led to the Cambridge Analytica data breach.

If they now find out that this is the normal #business model of #Facebook to commercialize data ...

#news #law #problem #capitalism #internet #company #privacy #security #society #economy #spy #manipulation #tracking

Zuckerberg Sued by DC Attorney General Over Cambridge Analytica Data Breach

WashingDC Attorney General Karl Racine aims to hold the Meta CEO responsible for his involvement.

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anonymiss@despora.de
anonymiss

#WhatsApp co-founder #Acton named #Signal's interim #CEO

source: https://www.reuters.com/business/whatsapp-co-founder-acton-named-signals-interim-ceo-2022-01-10/

"It's a new year, and I've decided it's a good time to replace myself as the CEO of Signal", he said. #Marlinspike, who will remain on Signal's board, said he is scouting for candidates for the permanent CEO position.

Is someone from WhatsApp a good choice?

Both messengers (WhatsApp and Signal) use the same end-to-end encryption. The roll-out of encryption in WhatsApp was the largest project of its kind and has contributed a great deal to user security. Unfortunately, it has also shown that only the #metadata of the users is needed for #marketing, since little #information can be gathered from the smileys sent by the youth anyway. Besides, if he cares so much about freedom, why didn't he make WhatsApp a free and secure messenger and sell it to #Facebook instead? The development for WhatsApp had therefore been foreseeable. Does he now seek salvation and want to repent?

#news #messenger #change #software #opensource #encryption #management

WhatsApp co-founder Acton named Signal's interim CEO

Messaging app Signal's founder and Chief Executive Officer Moxie Marlinspike will step down and WhatsApp co-founder Brian Acton will become the interim CEO, Marlinspike said in a blog post on Monday.

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anonymiss@despora.de
anonymiss

#iFixit #CEO names and shames tech giants for right to #repair obstruction

Source: https://www.zdnet.com/article/ifixit-ceo-names-and-shames-tech-giants-for-right-to-repair-obstruction

"California #Apple stops providing service after seven years, so this was at seven years and Apple have warehouses full of spare parts, and rather than selling that out in the marketplace -- so someone like me who eagerly would've bought them -- they were paying the recycler to destroy them," Wiens said.

...

Weins also pointed to an example involving a #Microsoft #Surface laptop.

"[iFixit] rated it on our #repairability score, we normally rate products from one to 10; the Surface laptop got a zero. It had a glued-in battery … we had to actually cut our way into the product and destroyed it in the process of trying to get inside," he said.

#economy #politics #fail #news #environment #finance #money #capitalism

iFixit CEO names and shames tech giants for right to repair obstruction | ZDNet

iFixit chief Kyle Wiens claims Apple, Samsung, and Microsoft are monopolising the supply chain and designing products to prevent users from being able to easily repair them.

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