Quoted from dothedoo:
I don't agree with this business model at all. My previous employer has been 'shedding' employees for the last 4-5 years. They just 'shedded' about 7000 employees in the first quarter this year while the CEO accepted a $3 million dollar raise to $29 million and another XO got a 68% raise to $16 million. I figure ONE paycheck for the CEO paid my salary for 10 years.
These are the same two that put the company in the position where it needed to 'shed' employees and debt in the first place, and they get rewarded with MORE money???
It's the American Aristocracy.
The CEO's are hired by the board of directors. The board of directors is simply the CEO's and XO's of the other large companies. They marry off their children to each other and have taken control of most of the large publicly traded companies in the US to pilfer to their assets.
Infinite growth here isn't possible. They've cut wages and benefits down to the bone, are selling off the real estate and then rent it and then have the companies take out loans to pay massive bonuses to the executives. It's gotten to the point where they are cannibalizing profitable established companies in order to keep the game going (ToysRUs).