I track my finances through online banking just about every night. And sometimes I am surprised when I see a lower balance than expected – then I talk to my wife and find out that she had to use the debit card on XYZ expense.
I still think it is a bit made up.
1) He is writes for finance publications.
2) The overdraft was repetitive… not just once.
I bet that if you get hit with an overdraft.. you will make changes to make sure it doesn’t repeat. It almost looks like he didn’t look at the balance for a while and then whoops!!
Management and union salaries are too high. And who let all of this happen? The board of directors. And who votes for the board of directors? The shareholders. Ultimately, the auto companies are a great example of shareholders allowing the board, management and employees to unwittingly work together in destroying their enterprise.
Yes and no.. remember that shareholder votes are not binding – a dirty ugly secret that is not openly discussed. Effectively, the owners of the company, the common shareholders, can’t make binding decisions on the directors/CEO.
Average “lazy” worker productivity has constantly increased over the years
In part due to increased capital expenditures for equipment (better, newer mills, presses etc). Someone bought the equipment.. and expects a return on their investment.
NOTE: I am not disagreeing with the point that CEO pay is ridiculous. CEOs also don’t have any real investment in what they run. To get the pay they do, it should be based upon returns from stock they purchased in the company they are running. This way the pay is tied to the health of the company. NOTE: You would also need a mandatory hold period on this stock to prevent shifting income forward-backwards per quarter or year.
