CEO pay is divorced from performance. It's a joke. And a racket.

Mar 31, 2024
8:35:43am

Goliath CB users union organizer

CEO Performance Pay Is One of Capitalism’s Great Myths

The ratio of CEO pay to worker pay is almost 300 to 1. Are we really supposed to believe CEOs work 300 times harder or create 300 times more value than us?

https://jacobin.com/2023/11/ceo-performance-pay-inequality-tax-loopholes-stock-buybacks-trickle-down-myths

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Goliath

Previous username: Koolio
Bio page: Goliath
Joined: May 25, 2005
Last login: May 14, 2024
Total posts: 30,533 (1,783 FO)

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Messages

Author

Time

IHC executive comp - going down that rabbit hole is pretty sickening haha

cougfanz

Mar 29, 3:29pm

Seems like if that is what similarly situated execs in other industries are

Jay Kay

Mar 29, 3:36pm

I don't disagree. Being a healthcare administrator is the way to go.

cougfanz

Mar 29, 3:46pm

Because they keep telling the medical professionals that work for IH that

Nakedbootleg

Mar 29, 4:31pm

IHC is a nonprofit that was originally founded by the Church donating assets.

El Presidente

Mar 29, 4:44pm

Totally normal

PickleButton

Mar 29, 3:38pm

Not totally normal when it’s not for profit. It’s a joke designation

homegrown

Mar 29, 3:40pm

yep lets attract subpar talent to mismanage our not for profit....

niqmadu

Mar 29, 3:46pm

Most of this "talent" are community college RNs... at least the vast majority

cougfanz

Mar 29, 3:49pm

RE: Most of this "talent" are community college RNs... at least the vast

Cletus the Fetus

Mar 29, 10:09pm

Even if it’s a nonprofit, it’s competing for talent with for profit companies

Jay Kay

Mar 29, 3:47pm

Some of the education of the executive leadership team - SUPER talented folks

cougfanz

Mar 29, 3:55pm

Yeah, I’m not defending IHC in particular as I’m not familiar with them at all.

Jay Kay

Mar 29, 3:57pm

I was impressed by Mitch getting a degree from Texas Woman's University.

slatecoug

Mar 30, 2:04pm

CEO pay is divorced from performance. It's a joke. And a racket.

Goliath

Mar 31, 8:35am

All non-profit means is you have to spend all your revenue.

2ndTrombone

Mar 29, 3:49pm

And they do that well - on executive salaries.

Eddie

Mar 29, 3:52pm

I know it’s a stupid designation.

homegrown

Mar 29, 4:18pm

That’s not true - they just call accumulated profits “net assets” instead of

Odysseus

Mar 29, 6:10pm

Not how that works

cougfanz

Mar 29, 6:31pm

Mixing capitalism and health care creates some serious problems

Odysseus

Mar 29, 3:42pm

mixing socialism creates more

niqmadu

Mar 29, 3:50pm

I don’t think anyone said socialism was the alternative he implied

conetah

Mar 29, 11:15pm

Does capitalism restrict who can be an owner of a company? Or how much certain

cougfanz

Mar 29, 3:44pm

Yes it does. Like it or not. We are not a socialist country.

PickleButton

Mar 29, 4:47pm

The amount of regulation the government puts on healthcare makes it a mix at

Powerbait DPM

Mar 29, 9:19pm

Oversimplifications for $100 Alex.

conetah

Mar 29, 11:20pm

Crazy to see all the negative reactions to your comment. A quick Google search shows these salaries

Icecat

Mar 29, 5:02pm

lol, the skill set of a decent CEO is not 1/10,000 times as rare as a decent NFL QB

spinner

Mar 29, 5:41pm

I am not an MBA type and I have no idea what makes CEOs so special that they can command $10 million/year.

Icecat

Mar 29, 5:50pm

Short answer: nothing

spinner

Mar 29, 7:23pm

Just check out the Boeing and executive team!

valleus

Mar 30, 2:41pm

I’m not defending the compensation. I think CEOs are paid too much, just like professional athletes.

Icecat

Mar 30, 7:05pm

Except healthcare admin is generally worthless.

EDthoracotomy

Mar 30, 7:56am

I have a friend who is an anesthesiologist at IHC

bocadillotortuga

Mar 29, 3:39pm

The cyber attack thing scam and excuse for bus companies to withhold payments

kotacoug

Mar 29, 3:50pm

That's because they are IH. They no longer care.

Bert609

Mar 29, 4:41pm

This is a crock

SpudNut

Mar 29, 4:57pm

that doesn’t seem legal. As a business owner, I’m expected to pay my employees

Powerbait DPM

Mar 29, 9:21pm

RE: I have a friend who is an anesthesiologist at IHC

JGrandy

Mar 30, 7:17am

That is absolute BS. I work at multiple shops. If they did that I would walk.

EDthoracotomy

Mar 30, 7:58am

My healthcare company has seen a spike of over 100% in our AR b/c of the attack.

P-Widdy

Mar 31, 9:09am

So just don’t pay admin and executives right?

EDthoracotomy

Mar 31, 10:29am

Good to know that $50 aspirin is giving someone a nice Christmas.

777

Mar 29, 3:49pm

Good to know that reverse Christmas bonus they took from everyone’s paychecks

Nakedbootleg

Mar 29, 4:30pm

Affordable care act made it so physicians cannot own hospitals. Study after

Groym

Mar 29, 4:11pm

They charged me a lot of money for nothing

BaseCoug

Mar 29, 4:34pm

Not saying this is your position...

The Chief

Mar 29, 4:36pm

Non-profits have to list their top 10 highest paid employees. Any docs in that group?

SJS

Mar 29, 4:45pm

Not that I saw. In my specialty they won't go above 50% MGMA. I do think they

cougfanz

Mar 29, 5:16pm

Meanwhile nursing staff get paid $25/hr and are told, “Yes we know the pay is

MacsKid

Mar 29, 4:48pm

<< Deleted >>

Mabuhay Coug

Mar 29, 11:30pm

Would love to watch all physicians and RNs just walk out of IHC hospitals.

EDthoracotomy

Mar 30, 8:00am

That’s kind of naive. Corporate healthcare has a lot of docs in a tough spot.

SJS

Mar 30, 9:05am

I get that. Hence why they can be taken advantage of. Physicians have done a

EDthoracotomy

Mar 30, 9:37am

Because physicians are almost completely barred from organizing

SJS

Mar 30, 9:40am

Which is dog crap. We allowed it to get to that point.

EDthoracotomy

Mar 30, 1:35pm

The net profits the last few years have been over a billion each year.

PokeMAN

Mar 29, 5:07pm

Good point. This tax information is pre-inflation too or 2022

cougfanz

Mar 29, 5:34pm

So disgusting. What a cartel. Should be illegal.

Mitty

Mar 29, 5:13pm

What’s the alternative? Please suggest an alternative.

PickleButton

Mar 29, 5:52pm

Haha.. as if executive pay has any correlation whatsoever to “quality” care

cougfanz

Mar 29, 6:32pm

Intermountain Healthcare became known for quality and affordable care through

El Presidente

Mar 29, 6:47pm

They also benefit tremendously by a well educated local demographic that

cougfanz

Mar 29, 6:56pm

Sounds like this deal went about as well as BYU’s deal with the MTN. We seem to be very trusting and get screwed a lot.

Icecat

Mar 29, 8:59pm

Ask anyone who works at IH if they think Marc Harrison was worth what he was

Nakedbootleg

Mar 29, 7:02pm

How bout allowing competition?

homegrown

Mar 29, 7:36pm

I’m not sure if that would have made things better or worse.

cougfanz

Mar 29, 8:24pm

60m taken from sick people to pay for bonuses and vacation homes

conetah

Mar 29, 11:12pm

Nationalizing healthcare would only make things worse.

slatecoug

Mar 30, 2:09pm

Government healthcare would be horrific.

EDthoracotomy

Mar 30, 9:42pm

Lol. “Morally I will never work in healthcare. Also I work in finance”

Flyingdolphin

Mar 30, 9:51pm

lol your finance world created what healthcare currently is.

IGlowInTheDark

Mar 31, 5:04am

That’s why I’ll never work in that industry.

conetah

Mar 31, 7:53am

Finance?

IGlowInTheDark

Mar 31, 8:00am

Worked there at UVRMC 1990-1998 when Dr. Cecil Samuelson was running it

OU Cougar

Mar 30, 5:30am

Biggest tax change needs to be for so called non profits.

Hammer15

Mar 30, 9:55pm

Their recent rebrand was a colossal waste of money & completely unnecessary.

CEO Performance Pay Is One of Capitalism’s Great Myths

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