https://www.salary.com/research/executive-compensation/nike-inc-cl-b-executive-salary
How does MF stay and keep earning? So glad nasty HON is gone. Backfill not necessary. Big savings there.
8 replies (most recent on top)
There's a solution to these grotesquely large salaries.
When corporate executives make at least 30x more than what an average employee makes, every dollar of compensation past that 30x threshold gets taxed at 75%.
Example: Average salary of a Nike corporate employee is about $115,000. So when an executive reaches $3,450,000 in annual comp, everything above that amount gets taxed at 75%. With no deductions or loopholes whatsoever.
People could argue about "fairness" but I think that argument would fall on deaf ears. Because once you're being compensated at that level it becomes very difficult to credibly argue that "the man" is doing you dirty. I've never met a corporate executive who was SO good at their job and SO uniquely talented that their oversized pay - which in the worst cases can be more than 700x what an average employee makes - could be easily justified.
And in fact until around the 1980's our society had a far more cynical view of corporate execs making such obscene salaries relative to other employees. Prior to that time oversized salaries were correctly looked upon as being greedy, in poor taste, and essentially enriching themselves at the cost of everyone else. There was a social taboo to being paid more than almost everyone knew was reasonable and justifiable.
But look at today. Now it's "Take & loot whatever you can and don't waste any bandwidth whatsoever contemplating whether or not your millions of dollars per year are ACTUALLY justified and fair to everyone else." It honestly makes me angry that we see salaries like those in the link above and collectively the societal reaction is, "So? What's the problem??"
Meanwhile, the federal minimum wage is still stuck at $7.25/hour; the same rate set 17 years ago in 2009. A person making that minimum wage would have to work 827,586 hours, or roughly 398 years, to earn what the LOWEST paid Nike senior execs make IN ONE YEAR!!!
Yet people like ME are deemed "radical" and "unreasonable" for suggesting there might be a problem here?? It's maddening. To understate things.
It’s ok, Eliot cries about it. He cares.
@c6 They did around 300 on Friday, so 3 more days max easily hits 1400 numbers. The re-org changes take longer since it's not a 5 minute sorry, not sorry, buhbye, call.
@c4 most will be next week, could even go into the week after, but likely the bulk of it mon-wed
at least is was like that in the last round, and round before it, and the round before that one too, and maybe the previous 2 rounds before all those rounds
Have all the layoffs been accounted for this round or is it going to be next week as well?
@OP maybe HON is Nike's crooked way to send their covert executive to destroy LULU to oblivion. LOL
HON the Nike double agent. She doesn't have to work hard to destroy LULU, if she do her job with her incompetence then LULU will be thing of the past
Ignoring the real red flag. YTF does EH get $5m in cash, 5x higher than JD. Could it be because they knew the stock was going into the gutter?
so they all make 1M, and then ~10M in equity / stock, which is quickly falling, so all this comes down to securing their equity, more so than 'doing the right thing' for the company
that seems boldly obvious, maybe the board should change that payout structure to be relative to net profits....net profits down, you get 0, net profits up, you a %, base salary at 1M, fine, if you can't be happy with 1M every year guaranteed then something is seriously wrong with this society
interesting data, thanks for posting