Thread regarding General Electric Co. layoffs

Culp makes 1357x the median employee pay.

RATIO OF CEO PAY TO MEDIAN EMPLOYEE PAY. Our median employee earned $53,928 in total compensation for 2020. The total 2020 compensation reported for Mr. Culp as reported under “SEC Total” in the Summary Compensation Table on page 39 was $73,192,032. This includes the full grant date fair value of his Leadership Performance Share Award, which does not vest until performance and service requirements are met. Based upon total compensation for 2020, we calculated that our ratio of CEO to median employee pay was 1,357 to 1.

Breaking down this $73,192,032 pay package, it comes out to:

$6,099,000 per month or
$35,188 per hour or
$586 per minute or
nearly $10 per second

This guy makes more money in 2 hours than the median employee makes all year.

The average person takes about 10 minutes to do #2.
In that time, Mr. Culp will have made over $5860 smackers.

Does anyone else see a problem with this insane compensation package?

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| 1751 views | | 13 replies (last July 24, 2021) | Reply
Post ID: @OP+1bPVdlhu

13 replies (most recent on top)

You need to be educated about Inclusion and Diversity. Larry needs to have an equitable salary with all the other top CEOs out there. Life is very difficult for the top CEOs. I bet you couldn't do it. If he was paid less, he would get bullied by all the other CEOs and media personalities. If you don't support pay equity for Larry, it just shows that you are not an inclusive person and don't belong at GE.

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Post ID: @adee+1bPVdlhu

GE would go under overnight without the American tax payers money.

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Post ID: @2wuo+1bPVdlhu

Bail out money, fed buying their junk bonds whenever needed, stocks pumped up with fed dollars, special tax rules the little guy doesn't get .... uh that's just off the top of my head.

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Post ID: @2jar+1bPVdlhu

The best is when I herd an engineer get upset because guys were bashing imelt he put his 2 cents on the table and said Imelt is worth his pay package. And his knowledge is what got him to that position how do you know what he knows. He has been doing great things for this company. 6 months later that engineer was out the door!

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Post ID: @2uud+1bPVdlhu

@1esd+1bPVdlhu, how is GE federally funded? Their 10K form reports less than 2% of total revenue for US gov't sources.

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Post ID: @2kxv+1bPVdlhu

People in management keep responding as if this is a business. It's not. It is a federally funded welfare program. As such, the CEO should be making the same as any other high level manager in the public sector. Maybe even 400k like the president of the US makes. Remember those who are robbing the workers blind. Dont forget.

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Post ID: @1esd+1bPVdlhu

@1csl+1bPVdlhu, take up social justice elsewhere. CEO pay is set by market pricing. If the GE Board and by reference shareholders, as they elect the Board, want Larry out they can do so. Your opinion is but a pimple of my a_s.

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Post ID: @1ahx+1bPVdlhu

The poster here has to be the biggest id--t I ever seen on here! U have to have ur head so far up management’s a-s, u can’t see the light. All these CEO’s make way more than they should. Culp especially. Are u stupid dude? I say, Yes.

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Post ID: @1csl+1bPVdlhu

@1hne+1bPVdlhu every GE post on this website is by somebody who knew what they were getting into when they signed up. So what's any of this complaining about?? Nobody ever knew that a CEO gets paid much much much more than everybody underneath them?? Did mommy tell everyone that they're special and will never run the risk of a layoff? Didn't know a contract would be up for renegotiations and it could be better or be worse? I'm waiting for somebody to start complaining about how unfair it is that they don't receive a bonus for showing up on time, most of the time. This is nothing but a website for people to complain about their employers and if you look around, GE is pretty much the only business on this site that has complaining daily by its employees. Misery loves company and GE is full of some super lonely moefoes!

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Post ID: @1dth+1bPVdlhu

And he hasn't done a damn thing to deserve any of it.

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Post ID: @1bcl+1bPVdlhu

@ezu+1bPVdlhu Why is it always about the T-rates? You knew what you were getting paid when you signed the paperwork. Wring out your crying towel, put on your big boy pants, and go to work.

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Post ID: @1hne+1bPVdlhu

So?? He's the D-Rate of the CEO world. What?? Now's there something wrong with somebody being overpaid while under performing?? That sure is funny! The D-Rate of the Blue Collar world seem to think they still don't get paid enough. Maybe he should be made to earn as much as his lower paid T-Rate competitors in the CEO world. Would that make everybody happy? In addition, nobody at GE takes 10 minutes to do a #2 while on the clock. That's a third of the time taken.

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Post ID: @ezu+1bPVdlhu

Thx for sharing, let's fire him, hire another CEO at "market rate" and pay the same package. GE is a business not a social justice incubator

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Post ID: @ska+1bPVdlhu

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