In “The Overpaid CEO” Susan Homberg and Mark Schmitt bring to attention how CEO pay in America is ridiculous in numbers as opposed to other parts of the world. Looking back, in the nineteen hundreds CEO pay was relativity average. As businesses and companies began to expand there was a demand for higher pay. Between 1978-2012 CEO pay increased by 875%! Many rules and regulations were put in to place to limit the pay of a CEO, such as the Securities Exchange Act that I will explain later on, regardless CEO pay kept getting higher and higher as many loopholes were found. Bonuses pay a large part in the salaries of CEOS’, as an effect CEOS’ tend to partake in risky behavior in order to score those big paychecks.
Please don’t get the wrong impression! Having all those goods, and living such lives could be, let’s say “fun.” I guess it is a matter of choice! Personally, I will share the wealth in helping people who need the basics. Better yet, I would like to create a fund for providing education, choosing dedicated teachers that will educate and give shape to a healthier society, where medical doctors and politicians will be chosen for having social consciousness and an honest dedication to serve.
In the poem “Stars Over the Dordogne” by Sylvia Plath, the author illustrates a message by using different techniques. The message slowly develops as the readers go throughout the piece, however all the techniques are effective and leave an impact on the audience. Moreover, it causes the audience to have different views throughout the piece. The message in this poem is about how everyone has a different perspective on the world. The author shows this, by using imagery, personification, and shift to develop a message.
In 2011, I traveled to my hometown in Haiti to reconnect with friends and family. It was great to be back home and I got to enjoyed the food, music and spend quality time with family. What stood out the most during this trip was I witnessed nurses and doctors giving out medicine, vaccines and providing medical advice to the community. Seeing this prompted me to approach the doctors, who informed me of Doctors without Borders, an organization I would like to volunteer with once I become a physician. I agree with their mission and want to be part of a world-wide humanitarian organization.
So, that’s the major issue. The major issue is how do we create an economy that works for all of our people rather than a small number of billionaires, and the second issue, directly related, is the fact that as a result of the disastrous Supreme Court decision on Citizens United, we now have a political situation where billionaires are literally able to buy themselves elections and candidates. Let’s not kid ourselves. That is the reality right now.
Doctors without borders are a non-profit, medical humanitarian organisation, they are one of the few examples of altruism. They work in more than 60 countries providing
It is without question that the heavens are watching us, in the obscured reality of simple humans we are only but germs under the eyes of the great intelligence from the viewing eye of the gods that rule the macrocosms. To this I say: Gods that rule the nebulas and ICIS1000 galaxies, have mercy on our
Take severance packages for example. When the average employee in no longer benefitting the company, chances are they will be let go. Besides a final paycheck for hours worked and the possibility of unemployment collection, they do not receive anything else from the company. When a CEO is no longer performing up to standards, they are forced to resign but walk away with much more than a final paycheck. Chuck Prince of Citigroup was shown the door after the company lost $64 billion in market value, yet he left with $68 million and a cash bonus of $12.5 million (Nickels, McHugh & McHugh, 2010). Not only are CEOs paid a substantial amount more for their work, they are paid a substantial amount more to leave the company all together. In 2009, President Obama and Congress put limits on executive compensation of firms receiving money under the federal government bailout programs. The payout to CEOs leaving their companies was limited to $500,000 but it wasn’t for all companies across the board. This new limit only applied to companies who had borrowed money from the government during periods of economic downfall and hadn’t yet paid it back. Despite the decrease in monetary payout, CEOs were still allowed a decent portion of restricted stock which amounted for a fairly large payout when the stock could be sold a few years down the line.
Stock options are another main concern and are based upon the performance of a company. A lot of companies are in a low return and low compensation which then caused bad business and it’s about 400 times that amount. I believe the government is trying to tighten down on excessive executive compensation with implementing salary caps. Executives are unrealistic with common life and way of living therefore; they do not take any consideration with the underdogs of the company or the world. The economy does have hope but it’s a long way from being stabilized once again.
The economic downfall of 2008 illustrates the impact of unbridled corporate pay structures on our economy. Securities fraud, committed as a result of incentive packages offered to executives to create quick profits, had a detrimental effect on the overall economy. As observed during the Bank and Loan bust of 1989, CEOs take greater risks when offered stock options in their compensation packages. The 2008 Financial crisis, sparked by subprime mortgage market and hedge funds, was driven by banking executives making short term risks that served detrimental to stockholders in the long run. Furthermore, many compensation packages offered Golden Parachute clauses with no claw backs to both performing and underperforming executives.
However, there have been many cases where the CEO and executive officers receive outrageous compensation even when the companies suffer. Overall, there is a wide disconnect between the incentive of the executives and the financial performance of their company, which needs to be fixed. By passing regulations and rules such as the Dodd-Frank Act, there is hope of shedding light on the connection between the company’s performance and the executives pay. Although it will provide a clear insight, it will not be able to set a strict regulated compensation or define what an executive should earn. Instead regulations will allow for more transparency for the shareholders regarding corporate governance issues such as executive pay. Along with that, it will force companies to take accountability for their actions. If they do poorly, then the executives should be paid less, and vice versa. Overall, there should be a direct alignment between executive pay and the company’s
For people living in a world filled with violence, it is essential to act as kind and compassionate individuals in order to develop more peaceful communities. According to Orbinski, “[they] are not sure that words can always save lives, but [they] know that silence can certainly kill” (Médecins Sans Frontières - Nobel Lecture). They use language to define a problem and come up with a call of duty. Even though no humanitarian can make peace, the more people that respond to a certain call of duty, the closer they get to a more peaceful community. As a civil society movement, they demand change, not charity. Campaigning for a change in the cost of medicine needed to treat some of their patients is seen as one way that Doctors Without Borders demand change. Members of Doctors Without Borders remain outspoken about the injustice towards humanity by the means of media or speeches, such as the one given by Orbinski 16 years
PURPOSE: The aim of the investigation was to further our understanding of the physical laws that govern our ability to receive and interpret information in the form of visible light. We have all had a physics class that at least brushed the introduction of optics, but we can still further our comprehension by experimenting with optics that have different characteristics. Does one axis truly get inverted when viewing an object through a lens? How significant of an effect does human error have in calculating reflection (if any)? How much does magnification blur an image viewed through an optic? How much does the angle of light deflect from a change of medium?
The term 'executive pay' has acquired bad connotations over the past decade or so and the recent Occupy Wall Street movement brought this issue back into public consciousness on a worldwide scale (Minder, 2013). In Switzerland, the parliament recently passed legislation that would limit executive compensation excesses under threat of fines and imprisonment and the European Parliament agreed to limit banker bonuses to twice their base salaries. Adding fuel to this fire was last month's announcement that the golden parachute for departing Novartis Chairman Daniel Vasella would include a $78 million dollar severance payment.
Imagine an entire community of individuals, from doctors to massage therapists, that does not answer to any political entity or religion, yet still manages to collectively provide free healthcare services to millions of individuals in need every year. Medecins Sans Frontiers, or popularly known in the US as Doctors Without Borders, is an international NGO that does just that. The organization began in 1971 when a group of French doctors and journalists recognized the dire need for assistance in healthcare during times of war, famine, and flood in Nigeria and Pakistan. Since then, it has expanded and provides aid to over 60 countries in underserved regions across Central America, South America, Africa, Europe, the Middle East, and Asia as