Top pharma CEO salaries

Yvonne's hubby · #21 03/30/13, 01:29 PM

Quote:

Originally Posted by bowdonkey

Isn't that crazy?

Plum scary to me.

Tabitha · #22 03/30/13, 02:37 PM

Back when Mercedes Benz took over Chrysler, the Chrysler guy was paid six times as much as the Mercedes equivalent.
They won't starve being paid only a million, and they are not worth a penny more.

watcher · #23 03/30/13, 02:55 PM

Quote:

Originally Posted by plowjockey

Nobody is asking them to work for free.

How about they pay them $15 million a year and only charge $100 for a month supply of pills, instead of $200?

Hopefully, they will be able to survive, on that reduced salary.

Can you tell me what percentage of the company's gross income the CEO's pay is?

plowjockey · #24 03/30/13, 03:01 PM

Quote:

Originally Posted by poppy

LOL. Do you actually believe cutting the CEO's salary in half would cut your prescription costs in half?

No, I was just trying to make a point.

Let's not forget (if possible) that if a CEO makes $35 million a year, the CFO, CIO, COO, CPO CHRO, etc. etc. etc. and the President, Executive Vice Presidents, Vice Presidents, are probably paid at similar high levels also.

These are EMPLOYEES, just like the guy who cleans the toilets. They should be paid accordingly, for the level of work they do, but $35 million?

Why doesn't the guy who scrubs the johns, get $50/hr? Thats only $100,000 per year. Seems only fair.

poppy · #25 03/30/13, 03:13 PM

Quote:

Originally Posted by plowjockey

These are EMPLOYEES, just like the guy who cleans the toilets. They should be paid accordingly, for the level of work they do, but $35 million?

Why doesn't the guy who scrubs the johns, get $50/hr? Thats only $100,000 per year. Seems only fair.

Tell ya what. I used to have a small business. If I could have found someone to run it so it would make me 4 billion a year, I would have gladly paid him 35 million. The guy who scrubbed the toilets (me) wasn't able to do it.

plowjockey · #26 03/30/13, 03:21 PM

Quote:

Originally Posted by watcher

Can you tell me what percentage of the company's gross income the CEO's pay is?

My calculator is broke, but, really, who cares?

I have known several CEO's of large Corporations and although they were bright people and mostly good leaders, they were not all that spectacular.

The CEO is captain of the ship, but it's the crew that gets things done - always.

Funny thing is when a Corporation crashes and burns, the departing CEO still gets a huge payday, because it's written in his employment contract, that he/she gate paid no matter what.

On what planet does that make sense?

The Captain of a supertanker, - guiding his crew, probably safely delivers, billions of dollars of crude oil every year, to which somebody makes a very nice profit from.

How come he is not paid $10 of millions of dollars per year?

The executive pay system is broke - big time, costing consumers big bucks out of their own hard earned pay.

But yet they defend this largess, as the "American way" and capitalism at it's finest.

Unreal.

plowjockey · #27 03/30/13, 03:31 PM

Quote:

Originally Posted by poppy

Tell ya what. I used to have a small business. If I could have found someone to run it so it would make me 4 billion a year, I would have gladly paid him 35 million. The guy who scrubbed the toilets (me) wasn't able to do it.

It is ridiculous to assume, that the CEO, is making them "all that money", unless it is a one man business.

Executives come and go all of the time and it's very rare, that one make or breaks a Corporation.

I have noticed that the Right defends huge Executive pay, even when the Corporation is going into bankruptcy, as with Hostess foods. The blamed the unions for all of their problems.

watcher · #28 03/30/13, 04:07 PM

Quote:

Originally Posted by plowjockey

No, I was just trying to make a point.

Let's not forget (if possible) that if a CEO makes $35 million a year, the CFO, CIO, COO, CPO CHRO, etc. etc. etc. and the President, Executive Vice Presidents, Vice Presidents, are probably paid at similar high levels also.

These are EMPLOYEES, just like the guy who cleans the toilets. They should be paid accordingly, for the level of work they do, but $35 million?

Why doesn't the guy who scrubs the johns, get $50/hr? Thats only $100,000 per year. Seems only fair.

Again how is that fair? Say there are 1,000 people on the company payroll. How many of those do you think have the ability and skill to scrub a toilet? Now how many of them do you think has the ability and skill to run the company?

watcher · #29 03/30/13, 04:30 PM

Quote:

Originally Posted by plowjockey

My calculator is broke, but, really, who cares?

You are the one implying his pay is such a large segment of their gross cutting his pay would allow them to reduce the cost of their product.

Quote:

Originally Posted by plowjockey

I have known several CEO's of large Corporations and although they were bright people and mostly good leaders, they were not all that spectacular.

There are a lot of not that spectacular baseball players out there and you know what? They don't get the multimillion dollar contracts. The best get paid the most, CEO or ball player, because everyone wants them on their team.

Quote:

Originally Posted by plowjockey

The CEO is captain of the ship, but it's the crew that gets things done - always.

As I have stated over and over again almost anyone can be a crewman.

Quote:

Originally Posted by plowjockey

Funny thing is when a Corporation crashes and burns, the departing CEO still gets a huge payday, because it's written in his employment contract, that he/she gate paid no matter what.

I've explained this before. Say you have a piano and you want it moved out of your house. You could wouldn't have to pay that much for someone to do that. But if your house was on fire don't you think you'd have to pay a bit more?

Let's take a company having problems, say Radio Shack. The BOD wants the company to stay in business but everyone can see its on its last legs. Why should someone take on saving a company when they could get a job running a company which is on stable ground? To get a good CEO to come in they are going to have to offer him big bucks.

If you have a company which has lost $1,000,000,000 a year each year for the last 4 years and a CEO comes in and in his firs year it loses $250,000,000. Do you think he should get a bonus? He did cuts it losses by 75% but they still lost a LOT of money.

Quote:

Originally Posted by plowjockey

On what planet does that make sense?

It makes sense because he filled the requirements of his contract. If you sell a company $10,000 worth of goods just before it goes out of business would you not expect it to pay you?

Quote:

Originally Posted by plowjockey

The Captain of a supertanker, - guiding his crew, probably safely delivers, billions of dollars of crude oil every year, to which somebody makes a very nice profit from.

How come he is not paid $10 of millions of dollars per year?

Simple, there are thousands, if not tens of thousands of people out there who can do his job.

Quote:

Originally Posted by plowjockey

The executive pay system is broke - big time, costing consumers big bucks out of their own hard earned pay.

But yet they defend this largess, as the "American way" and capitalism at it's finest.

Unreal.

It is. No matter what your mommy and the government may tell you, your labor is only worth what you can get someone to pay you. In America f you can hit 40 home runs and steal 40 bases a year in the major leagues you are worth a lot more than someone who couldn't even make a high school team. If you can run a multi-national company and have it make billions upon billions of profit you are worth a lot more money then someone who is challenged by keeping the johns clean and supplied with TP?

nchobbyfarm · #30 03/30/13, 04:35 PM

Pure jealousy! Wealth envy. That shade of green is very unbecoming.

As was already said, if you don't like the salary or the company, DON'T buy the product, Make it yourself, or get over it. You have no RIGHT or ownership of the product unless you own enough stock to be the majority shareholder.

po boy · #31 03/30/13, 04:47 PM

Get the guy that scrubs the toilets to make your drugs!

plowjockey · #32 03/30/13, 05:02 PM

Quote:

Originally Posted by watcher

You are the one implying his pay is such a large segment of their gross cutting his pay would allow them to reduce the cost of their product.

There are a lot of not that spectacular baseball players out there and you know what? They don't get the multimillion dollar contracts. The best get paid the most, CEO or ball player, because everyone wants them on their team.

As I have stated over and over again almost anyone can be a crewman.

I've explained this before. Say you have a piano and you want it moved out of your house. You could wouldn't have to pay that much for someone to do that. But if your house was on fire don't you think you'd have to pay a bit more?

Let's take a company having problems, say Radio Shack. The BOD wants the company to stay in business but everyone can see its on its last legs. Why should someone take on saving a company when they could get a job running a company which is on stable ground? To get a good CEO to come in they are going to have to offer him big bucks.

If you have a company which has lost $1,000,000,000 a year each year for the last 4 years and a CEO comes in and in his firs year it loses $250,000,000. Do you think he should get a bonus? He did cuts it losses by 75% but they still lost a LOT of money.

It makes sense because he filled the requirements of his contract. If you sell a company $10,000 worth of goods just before it goes out of business would you not expect it to pay you?

Simple, there are thousands, if not tens of thousands of people out there who can do his job.

It is. No matter what your mommy and the government may tell you, your labor is only worth what you can get someone to pay you. In America f you can hit 40 home runs and steal 40 bases a year in the major leagues you are worth a lot more than someone who couldn't even make a high school team. If you can run a multi-national company and have it make billions upon billions of profit you are worth a lot more money then someone who is challenged by keeping the johns clean and supplied with TP?

Do you even know, what a CEO does?

Just curious.

arabian knight · #33 03/30/13, 05:44 PM

Quote:

Originally Posted by nchobbyfarm

Pure jealousy! Wealth envy. That shade of green is very unbecoming.

As was already said, if you don't like the salary or the company, DON'T buy the product, Make it yourself, or get over it. You have no RIGHT or ownership of the product unless you own enough stock to be the majority shareholder.

Yes that is all it is, every few weeks one of these CEO bashing threads up and nobody will give the OP sympathy in what CEO makes.
And a LOT of CEO's get that pay NOT IN CASH, but in Stock Options etc.~!

MO_cows · #34 03/30/13, 06:53 PM

I don't think it is "wealth envy" to acknowledge that if the CEO could manage to squeak by on 10 million or so a year, the other 15, 20 or 30 mil could cut cost for the company and therefore make them more competitive, could boost wages/benefits for the low end workers and probably improve their productivity, etc. And how many CEO's have totally mismanaged the company to bankruptcy but still walked away with a "golden parachute" package they didn't deserve?

It just demonstrates how the priorities have gotten so warped in corporate America. I don't think there needs to be limits imposed or any regulatory or government action taken, I just wish more companies would wake up and smell the coffee that the thousands of "little people" employees who actually do the grunt work and interact with the customers can be just as important as the "flavor of the month" hot-shot CEO who they likely pirated away from another company anyway.

Let me say it again, I don't want anybody to DO anything about it, let the free market work. Or the sort of free market we have nowadays. I just wonder how some of these modern day robber barons live with themselves.

Yvonne's hubby · #35 03/30/13, 07:03 PM

Quote:

Originally Posted by MO_cows

I just wonder how some of these modern day robber barons live with themselves.

Quite comfortably I would suspect, but I doubt many of them live alone.

nchobbyfarm · #36 03/30/13, 08:14 PM

If you don't like the way the CEO's are compensated, stop buying their product. It is no more difficult than that. Why do people make this out to be a moral issue. If enough people do without the product, the Board at said corp. will fire the CEO. But as long as the CEO is making the owner's enough money, they will reward them.

All the things you buy make your life easier. But none are required except now healthcare. You don't have to buy electricity from the utility company but you do because it makes life better. You don't have to buy gas from BP but you do because it makes life easier. You don't have to buy the Rx drugs but they make life better. Either buy the product or don't, but stop whining about the employee compensation. If the person that cleans the toilet wants money compensation, then demand more. If the corp values them enough, they will pay them the demanded rate. If not, they will hire someone else.

This is not rocket surgery!

MO_cows · #37 04/01/13, 04:32 PM

Quote:

Originally Posted by nchobbyfarm

If you don't like the way the CEO's are compensated, stop buying their product. It is no more difficult than that. Why do people make this out to be a moral issue. If enough people do without the product, the Board at said corp. will fire the CEO. But as long as the CEO is making the owner's enough money, they will reward them.

All the things you buy make your life easier. But none are required except now healthcare. You don't have to buy electricity from the utility company but you do because it makes life better. You don't have to buy gas from BP but you do because it makes life easier. You don't have to buy the Rx drugs but they make life better. Either buy the product or don't, but stop whining about the employee compensation. If the person that cleans the toilet wants money compensation, then demand more. If the corp values them enough, they will pay them the demanded rate. If not, they will hire someone else.

This is not rocket surgery!

Where do you shop? Do they have this information posted on the shelf??

With the average store selling tens of thousands of individual items, plus the conglomeration of brands where many different brands are actually owned by the same corporation, not to mention that "store brands" are usually made by another company and labeled for the store like CVS, WalMart or whatever, when you are at the "point of purchase" it's a little tough to know whether the company that makes aspirin brand A, B, C or D is the one whose practices you like the best (or least). So it's quite easy to say it is not rocket surgery, just don't buy it, but a lot harder to actually DO it.

With that being said, I do believe we vote with where we spend our money and don't spend our money, but it just isn't easy most of the time to make a truly informed choice.

plowjockey · #38 04/01/13, 05:08 PM

Quote:

Originally Posted by nchobbyfarm

Pure jealousy! Wealth envy. That shade of green is very unbecoming.

As was already said, if you don't like the salary or the company, DON'T buy the product, Make it yourself, or get over it. You have no RIGHT or ownership of the product unless you own enough stock to be the majority shareholder.

It would be interesting to see, if you feel the same, if you had to pay $2400 a year, for one prescription, to enable you to keep alive.

Jealousy?

Personally, I could care less, if they are paid one billion dollars per year, if their medicines, were at least close to being reasonable priced.

But they are not.

The Right really shows their ignorance, by playing right into the scam.

http://www.ftc.gov/opa/reporter/comp...fordelay.shtml

Bearfootfarm · #39 04/01/13, 05:15 PM

Quote:

I don't think it is "wealth envy" to acknowledge that if the CEO could manage to squeak by on 10 million or so a year, the other 15, 20 or 30 mil could cut cost for the company and therefore make them more competitive, could boost wages/benefits for the low end workers and probably improve their productivity, etc. And how many CEO's have totally mismanaged the company to bankruptcy but still walked away with a "golden parachute" package they didn't deserve?

The companies that pay those saleries generally spend MILLIONS per day, and do business measured in the BILLIONS

arabian knight · #40 04/01/13, 05:40 PM

Quote:

Originally Posted by Bearfootfarm

The companies that pay those saleries generally spend MILLIONS per day, and do business measured in the BILLIONS

I wonder how many here use Fort Dodge Animal Vaccines?
How many also know that Fort Dodge Animal Health
is owned by, DARE I SAY IT?

Wyeth~!
Oh my, one of those forbidden Big Farma companies..,.. LOL

Wyeth is the company that makes one of those high powered RA drugs Enbrel, of which I was on for tewo years getting my RA under control. THANKS to, Dare I say it again, BIG FARMA.