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Or it's just like what Torch said, $2000/day * employees not covered...that would require 650 employees...though they have 13,000 employees, which would be far more than that...
Well it wasn't just Snopes that mentioned the potential 1.3 million dollar per day fines for Hobby Lobby. If you'd like I can find other sources.
And remember, these figures only apply to full-time employees. An employer can easily skirt the requirement by maintaining majority part-time work force.
And this is how the big companies will get out of paying healthcare, rather it is with or against their religion. It happened before when the last recession hit and will do so again. It is actually starting up again with a lot of big companies right now. While it is the easiest way to stop Obama care and stop all the "it's against my ...blah, blah, blah" it starts a new disturbing trend that will lead to many other problems down the road.
You know I was listening to NPR today and they made a comment that stuck with me.. companies that invest in their people, and keep to the more tradition 30% gains versus the 400%+ of some CEOs.. and spread the gains down the chain to the people tend to do 15 times better comparable companies of similar size and market. (an example was Whole Grains vs some of their competitors.)
But the people at the top don't care at all about those below them and they're out to make as much money for themselves as possible.They do not think about these things let alone care about those below them.
Actually, "the people at the top" (as you refer to them) are out to make money for the company's investors (assuming the company in question is a publicly held entity). If the executive board and other division directors were only out for themselves, no company would survive very long. Just wanted to make that distinction clear.
It could be argued why some companies aren't thriving or growing as much as they should. If your executives are more concerned about 500% growth in their income when the company is doing like 40% worse.. I'd say that they are doing just that.. of course those tend to be the most extreme of the leeches out there.
Unfortunately, the general public has the perception that the extreme examples are the norm. They aren't. No CEO in his right mind wants his company to go out of business. They want to make money for their investors and shareholders. These guys went to Wharton and Harvard. While they may be greedy and soulless, they aren't stupid.
Still you have to admit the bonuses have gone up radically over the years. From 45% to something like 300% of the workers levels. A lot of it is stuff that came out of the 'golden parachute/poison pills' of the 80s and 90s. Still those big bonuses in the big companies have to be counter productive at times.
If executive compensation is tied to profits (i.e. stock prices), then the bonuses are not out of line, not even at 300% of lowest paid employee's salary. Remember there are other components to executive compensation besides salary and bonuses, mainly equity options, deferred compensation, and long term incentives. If a company can't pay top executives on par with their peers, they will have a difficult time attracting top talent and this will be reflected in defecting investors. Defecting investors (and their capital) is bad news for any company.
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