FedEx CIO Robert Carter Pay Hikes 80%

[thedownhillEXPRESS]

I'm not attacking him, but I wonder why he gets a pass for his millions in annual compensation when you imply that others are greedy for taking millions in compensation.

Did he buy another company and outsource all his other companies work to it in order to increase his bottom line while making unionization impossible?
Just sayin..

 

[MrFedEx]

I'm not attacking him, but I wonder why he gets a pass for his millions in annual compensation when you imply that others are greedy for taking millions in compensation.

Fred and Friends were already highly compensated. Now, they're rewarding themselves with even higher salaries while they slash our hours and pay. Didn't it bother you at all when the Traditional Retirement Plan was canned,when Express was making record profits? They are greedy, and FedEx top execs are especially greedy.

 

[hypo hanna]

It was a bit of a sarcastic joke. Nice try, though.

Perhaps comedy isn't your forte?

What's an obscene level of wealth?

I'm thinking anything that looks like you went from Tiny Tim to Richy Rich in an afternoon might be going a bit too far. In other more enlightened countries executives are paid around 20 or 30 times the lowest paid employee. In the US it's 530 times the pay. I don't think executives shouldnt be fairly compensated but that fact is they are not. They are unfairly enriching themselves at the expense of the rest of us. It's a boys club who sit around a table telling each other how special they are.

Sure you have! It just so happens that they didn't want to go through the work of becoming a CPA and working in the field for 10 or 20 years to get to that point and earn a half a million dollars. But they could do it!

Porobably hard for you to grasp, but not everyone has a rich daddy that can afford to send him to Yale.

 

[59 Dano]

Because he isn't using his workforce as a major source of profit enhancement. His compensation comes primarily from stock growth and dividends.

The performance of his workforce is the source of his stock growth and dividends.

 

[59 Dano]

Perhaps comedy isn't your forte?

Perhaps intelligence isn't yours.

In other more enlightened countries executives are paid around 20 or 30 times the lowest paid employee. In the US it's 530 times the pay. I don't think executives shouldnt be fairly compensated but that fact is they are not. They are unfairly enriching themselves at the expense of the rest of us. It's a boys club who sit around a table telling each other how special they are.

So we're supposed to compensate our execs at a certain rate just because other countries do so at that rate? If you have a suggestion why lower executive pay is inherently better than higher executive pay, I'd love to hear it. So far the only reasoning is that it's lower in other countries. That's great, but that doesn't explain why such a pay ratio is inherently better.

Sure you have! It just so happens that they didn't want to go through the work of becoming a CPA and working in the field for 10 or 20 years to get to that point and earn a half a million dollars. But they could do it!

Porobably hard for you to grasp, but not everyone has a rich daddy that can afford to send him to Yale.

What does Yale have to do with getting an accounting degree and passing the CPA exam?

 

[vantexan]

The performance of his workforce is the source of his stock growth and dividends.

True, but he isn't taking away from his employees to pad the profit numbers to make shareholders think he's producing results.

 

[59 Dano]

True, but he isn't taking away from his employees to pad the profit numbers to make shareholders think he's producing results.

He doesn't have to if he doesn't give them that much to begin with. For instance, I don't think they make as much as couriers and I'd bet my right arm that they don't have a DB or DC pension plan.

 

[packageguy]

The man works hard, we deserves a raise, lol, I STILL THINK YOU GUYS SHOULD UNIONIZE.

 

[vantexan]

He doesn't have to if he doesn't give them that much to begin with. For instance, I don't think they make as much as couriers and I'd bet my right arm that they don't have a DB or DC pension plan.

But you are missing the point. His compensation is proportionally inline with his employees. Way too many corporate exec's, especially CEO's, are proportionately off the charts in compensation and it's the employees who take it in the shorts.

 

[59 Dano]

But you are missing the point. His compensation is proportionally inline with his employees. Way too many corporate exec's, especially CEO's, are proportionately off the charts in compensation and it's the employees who take it in the shorts.

There is no "right" proportion and you're looking only at what the average (or lowest, whichever) hourly guy makes. What about the size of the workforce? You can have 2 companies and all the hourlies make $10 an hour at both places. One company employs 2500 workers and the other employs 6000. What if 1 of those companies has revenue that's 3X the other and profits that are 2.9X that of the other? Should the CEO's be paid the same?

If the people who would work for these grossly lower pay scales were capable of running big companies, the companies would snatch them up in a New York minute.

 

[vantexan]

There is no "right" proportion and you're looking only at what the average (or lowest, whichever) hourly guy makes. What about the size of the workforce? You can have 2 companies and all the hourlies make $10 an hour at both places. One company employs 2500 workers and the other employs 6000. What if 1 of those companies has revenue that's 3X the other and profits that are 2.9X that of the other? Should the CEO's be paid the same?

If the people who would work for these grossly lower pay scales were capable of running big companies, the companies would snatch them up in a New York minute.

I never said lowest paid, I said average. I think we've found what pushes your buttons...you are totally enamored with corporate leadership, no matter the company. These guys talk about their compensation the way they follow pro golfer winnings, and that's your little world. No matter the struggles of the teeming masses, what matters is Biff got a $50 million golden parachute or that Spencer just made the Forbes' 400. This is what truly matters in life, huh?

 

[59 Dano]

I never said lowest paid, I said average. I think we've found what pushes your buttons...you are totally enamored with corporate leadership, no matter the company. These guys talk about their compensation the way they follow pro golfer winnings, and that's your little world. No matter the struggles of the teeming masses, what matters is Biff got a $50 million golden parachute or that Spencer just made the Forbes' 400. This is what truly matters in life, huh?

You're the guy who has a problem with executive compensation, not me.

You're the guy who said that CEO's shouldn't get but 10 or 20 times what the average worker gets. I'm asking you should the 2 CEO's get the same pay if all of their employees average the same wage, but CEO A has 2500 workers and CEO B has 6000. Why or why not? You're the person who is promoting this concept, you should be able to explain it.

 

[vantexan]

You're the guy who has a problem with executive compensation, not me.

You're the guy who said that CEO's shouldn't get but 10 or 20 times what the average worker gets. I'm asking you should the 2 CEO's get the same pay if all of their employees average the same wage, but CEO A has 2500 workers and CEO B has 6000. Why or why not? You're the person who is promoting this concept, you should be able to explain it.

And you're the guy who distorted what I said. I pointed out what the CEO of Costco said, that his salary is about 10 times what his average employee makes, and that was fair to him, seeing as how he's wealthy from his stock. I'd like to see more CEO's and other corporate officers have the same attitude. And considering how ridiculous compensation has become and how employees are bearing the burden to do without so that the exec's can do that well I'd like to see some regulation of overall executive compensation. You and I both know that's not going to happen but it's interesting to see those who dream of making it big get their dander up at the mere mention of forcing sanity into executive compensation. And it's hilarious asking about the fairness of CEO's getting the same wage when we in mid-range do the exact same job that topped out employees do but are forced to settle for much less. Poor, poor CEO, having to live on $400k a year. Such a pittance! Such a pity!

 

[59 Dano]

And you're the guy who distorted what I said. I pointed out what the CEO of Costco said, that his salary is about 10 times what his average employee makes, and that was fair to him, seeing as how he's wealthy from his stock. I'd like to see more CEO's and other corporate officers have the same attitude. And considering how ridiculous compensation has become and how employees are bearing the burden to do without so that the exec's can do that well I'd like to see some regulation of overall executive compensation. You and I both know that's not going to happen but it's interesting to see those who dream of making it big get their dander up at the mere mention of forcing sanity into executive compensation. And it's hilarious asking about the fairness of CEO's getting the same wage when we in mid-range do the exact same job that topped out employees do but are forced to settle for much less. Poor, poor CEO, having to live on $400k a year. Such a pittance! Such a pity!

Employees are suffering so that the execs can do well?

Fred's compensation this year including salary, stock options, bonuses, etc. is $13.6 million. If he worked for free and the money was distributed equally to the 300,000+ employees working for the FedEx Corporation, your share would be less than $50.

The "burden to do without" to support Fred amounts to less than a buck a week.

 

[CJinx]

Didn't everyone senior manager and above including Smith taking a significant pay cut a few years ago? Is it any surprise that they would like to get their compensation back up to where it was?

As an employee, it is so far above my pay grade that I don't really care.
As a stockholder, I think it is a good sign for the company.

 

[vantexan]

Employees are suffering so that the execs can do well?

Fred's compensation this year including salary, stock options, bonuses, etc. is $13.6 million. If he worked for free and the money was distributed equally to the 300,000+ employees working for the FedEx Corporation, your share would be less than $50.

The "burden to do without" to support Fred amounts to less than a buck a week.

More obfuscation. No one is saying divvy up all of Fred's earnings. What I'm saying is the lengths they go to increase profit so that they, and not just the CEO, can have the great pay and the high stock price is seriously hurting the working man. At what point is it enough? Sir, do you have no decency?

 

[GoodGrief]

Didn't everyone senior manager and above including Smith taking a significant pay cut a few years ago? Is it any surprise that they would like to get their compensation back up to where it was?

As an employee, it is so far above my pay grade that I don't really care.
As a stockholder, I think it is a good sign for the company.

It was not just senior managers and above. It was all salaried employees, including ICs. ICs took 5% cut, directors 10%, and officers 15% if I remember correctly. Fred tool 20% cut. Also not AIC, no merit increase and no match for 401k in 2009.

 

[GoodGrief]

Didn't everyone senior manager and above including Smith taking a significant pay cut a few years ago? Is it any surprise that they would like to get their compensation back up to where it was?

As an employee, it is so far above my pay grade that I don't really care.
As a stockholder, I think it is a good sign for the company.

It was not just senior managers and above. It was all salaried employees, including ICs. ICs took 5% cut, directors 10%, and officers 15% if I remember correctly. Fred took 20% cut. Also no AIC, no merit increase and no match for 401k in 2009.

 

[bbsam]

IC's did not takee a cut.

 

[GoodGrief]

IC's did not takee a cut.

Yes, they absolutely did....