Good Old American Capitalism

[BarryBobPosthole]

Where abject failure produces amazing incomes.

I know I'll get blasted for this, but this shit is what makes people want to 'fix' a system with federal regulations. I understand its bad for business to overmanage, but I also know this isn't fucking fair.

Yahoo has laid off thousands under Mayer, and they've made hugely bad business decisions such as buying Trav's favorite porn site Tumblr. And she gets a quarter BILLION parachute?

What. The. Fuck.

I may become a Bernie supporter after this.

BKB

Marissa Mayer's payday: 4 years, $219 million
http://money.cnn.com/2016/07/25/technology/marissa-mayer-pay/index.html

[Hombre]

She was the 20th employee at google and made it as high as VP. She was doing just fine before and I would guess worth into the mid 8 digits before accepting the job at Yahoo. Yahoo at the time was a sinking ship, and she was asked to come in and unscrew a titanic of a mess. I would guess that she had a team of lawyers review her sign-on contract and basically stipulated that if she failed of if they sold she'd have a parachute package. No way she walked from google without guarantees of financial success. And, that's what she got.

On the Verizon acquisition it will be interesting. Clearly Verizon has decided they're and ad company. They have the ability to do really well in the targeted ad space with a massive Vz wireless and FioS base. Execution will be key, and lets not forget Edge Cast, Terremark and a handful of others that have went less than amazing.

[BarryBobPosthole]

I was the 800 and something employee at MCI and the 83rd at WilTel. Where's my quarter billion?

And I don't care what she was hired for. Its the same story: thousands of people get laid off, a few at the top reap big rewards for it. If you can't see why that doesn't piss people off, then
i guess I'm barking up the wrong tree.

BKB

[LJ3]

I get that it pisses people off, and for good reason. It still makes sense as to why she got the compensation she got. The "have nots" will always see the "haves" and scream about how unfair it is.

Now if her legal team negotiated some cash being thrown at workers who lose their jobs if the company fails under her leadership, it may keep some of the "have nots" from being angry about it.

Someone should make that a thing. This is a great idea I just had!

[BarryBobPosthole]

My point is that the one thing in common with all of these executives is that they are a one note song: they all lay off thousands of tenured workers to make their financial numbers, their sacrosanct EBITDA. And they all reap huge financial rewards for basically destroying the very thing that they are there to be managing: the company. Mayer essentially made Yahoo salable. She was the headhunter who lopped off enough heads to make it attractive to buy. And here she is saying she's going to stay through the transition. Bull fucking shit. She's trying to convince the talent they've got to stay on. She'll be quietly gone once the deal is closed. Michael Capellas did the same thing to WorldCom, Carly Fiorina did the same to Hewlett Packard.
Its not fair, and there's no amount of rationalization that will make it fair. They got paid huge sums for FAILING.

BKB

[Captain]

All this happened while Obama was in office so I guess it's all his fault.

[BarryBobPosthole]

I don't know who's fault it is, but unless American business chooses on it own to do something different, then we're going to wake up someday with a Bernie Sanders who'll show you what real socialism is. People are getting fed up with the status quo, that much ought to be obvious.

BKB

[LJ3]

Sounds to me like they got huge sums for doing exactly what they were hired to do?

For the record, I don't disagree with you. If these fucks were brought in to crank profit and sell, they did it. What about the responsibility of those who put the company in the poor financial position to begin with? Do they have any responsibility here? Her predecessors ran the company in to the ground and their focus should have been solely about earnings per share, right?

I don't know what the answer is but if a company is run solely to generate earnings per share for shareholders, the system is broken.

[Captain]

I don't know who's fault it is, but unless American business chooses on it own to do something different, then we're going to wake up someday with a Bernie Sanders who'll show you what real socialism is. People are getting fed up with the status quo, that much ought to be obvious. BKB

Not me, I'm hoein' the short rows now. That ain't gonna happen in my lifetime.
:D

[BarryBobPosthole]

Sounds to me like they got huge sums for doing exactly what they were hired to do?

For the record, I don't disagree with you. If these fucks were brought in to crank profit and sell, they did it. What about the responsibility of those who put the company in the poor financial position to begin with? Do they have any responsibility here? Her predecessors ran the company in to the ground and their focus should have been solely about earnings per share, right?

I don't know what the answer is but if a company is run solely to generate earnings per share for shareholders, the system is broken.

Len, that is why customer service sucks so bad these days, its been sacrificed at the altar of earnings per share. Verizon will gut the fuck out of Yahoo, you wait and see. They are a pretty effective corporate raider in their own right. Several thousand more will lose their jobs to 'synergies', the most nonsensical concept in American business. And this bitch will walk with a quarter billion dollars for her role in it.

When companies start valuing their employees as their greatest asset, then things can begin to turn around. Take care of your people and your customers will get taken care of in an excellent way too. The current model is perverted.

And I'm sorry to be strident about this. But its fucking wrong wrong wrong.

I now return control of your television to you.

Sincerely,
The Outer Limits.

[Hombre]

"I was the 800 and something employee at MCI and the 83rd at WilTel. Where's my quarter billion?" You may need to negotiate your next contract better! May I suggest:

7428

[BarryBobPosthole]

Everyone likes a little ass now and then, but nobody likes a SMARTASS.

BKB

[Hombre]

:toothy .... I'm down Aug 3rd - 10th, you may not be feeling better by then but let me know......its and opportunity to get these witty replies in person!

[BarryBobPosthole]

My followup appt with the doc is Aug 4th. Hopefully he'll green light me for some regular activity. Maybe we can get out and blow some soot out of my boat.

BKB

[LJ3]

Len, that is why customer service sucks so bad these days, its been sacrificed at the altar of earnings per share. Verizon will gut the fuck out of Yahoo, you wait and see. They are a pretty effective corporate raider in their own right. Several thousand more will lose their jobs to 'synergies', the most nonsensical concept in American business. And this bitch will walk with a quarter billion dollars for her role in it.

When companies start valuing their employees as their greatest asset, then things can begin to turn around. Take care of your people and your customers will get taken care of in an excellent way too. The current model is perverted.

And I'm sorry to be strident about this. But its fucking wrong wrong wrong.

I now return control of your television to you.

Sincerely,
The Outer Limits.

I don't disagree with anything you've said, for the record. I just don't see that ever changing without some sort of profound, historically significant catalyst which will overshadow fixing this as a type of unintended consequence. I dunno. Bucky tole me to say that :)