Money made at others' expense

[kallend 1,672]

www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

...

The only sure way to survive a canopy collision is not to have one.

[RonD1120 58]

We need to think more about our communities and support local small businesses.

Look for the shiny things of God revealed by the Holy Spirit. They only last for an instant but it is a Holy Instant. Let your soul absorb them.

[weekender 0]

kallend

www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

Jamie Dimon could make more money running a hedge fund or working at a private equity firm like KKR and Carlyle. I could only imagine how jealous that would make you and the author. People are paid what they are worth. Id say JPM shareholders feel they are getting a good deal with Dimon, given he could easily make more elsewhere and has done a great job running the company in hard times.

I dont think Jennifer Aniston is worth the millions she is paid. i dont lose sleep over it. I am not the jealous type.

(edited typo)

"The point is, I'm weird, but I never felt weird."
John Frusciante

[kallend 1,672]

weekender

***www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

Jamie Dimon could make more money running a hedge fund or working at a private equity firm like KKR and Carlyle. I could only imagine how jealous that would make you and the author. People are paid what they are worth. Id say JPM shareholders feel they are getting a good deal with Dimon, given he could easily make more elsewhere and has done a great job running the company in hard times.

)

How do you deal with the brown on the nose?

...

The only sure way to survive a canopy collision is not to have one.

[weekender 0]

kallend

******www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

Jamie Dimon could make more money running a hedge fund or working at a private equity firm like KKR and Carlyle. I could only imagine how jealous that would make you and the author. People are paid what they are worth. Id say JPM shareholders feel they are getting a good deal with Dimon, given he could easily make more elsewhere and has done a great job running the company in hard times.

)

How do you deal with the brown on the nose?

mature comeback.

why so jealous? doesnt babysitting pay enough? look on the bright side. you are paid pretty well for part time. and as long as you dont touch a child you cannot even be fired. Jamie Dimon and I are quite envious of your job security.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[futuredivot 0]

At least he's billed up front as an opinion writer so you don't expect reality to get in the way of him makeing a point.

You are only as strong as the prey you devour

[Andy9o8 0]

RonD1120

We need to think more about our communities

I always knew you were a closet Communist.

[RonD1120 58]

Andy9o8

***We need to think more about our communities

I always knew you were a closet Communist.

Let's change that to villages or towns.

Look for the shiny things of God revealed by the Holy Spirit. They only last for an instant but it is a Holy Instant. Let your soul absorb them.

[Andy9o8 0]

RonD1120

******We need to think more about our communities

I always knew you were a closet Communist.

Let's change that to villages or towns.

Too late. Once out of the closet, always so.

[kallend 1,672]

weekender

*********www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

Jamie Dimon could make more money running a hedge fund or working at a private equity firm like KKR and Carlyle. I could only imagine how jealous that would make you and the author. People are paid what they are worth. Id say JPM shareholders feel they are getting a good deal with Dimon, given he could easily make more elsewhere and has done a great job running the company in hard times.

)

How do you deal with the brown on the nose?

mature comeback.

why so jealous? doesnt babysitting pay enough? look on the bright side. you are paid pretty well for part time. and as long as you dont touch a child you cannot even be fired. Jamie Dimon and I are quite envious of your job security.

Well, to temper his envy Jamie can now afford to buy another half dozen congressmen. Not sure about you though. Maybe you should have worked harder in school.

And my household is well into the top 1%, thank you. However, we do not seek to cut assistance to the poor, sick, and indigent to pay for special tax favors for ourselves, unlike the folks you admire so much.

...

The only sure way to survive a canopy collision is not to have one.

[kelpdiver 2]

kallend

www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

this opinion piece is a bit light on actual foundation. As a scientist, surely you expect to see proof or data, not just statements that support your existing confirmation basis.

I like how he pluralized the Perkins statement into "mega-wealthy investment bankers."

Looking at Dimon's base salary is almost certainly the wrong way to view his compensation. Options, both granted and voluntarily purchases will dominate his compensation.

And comparing wage growth between sectors is not proof to support the article title. Selecting June 2009, after the major layoffs in the financial sector of late 2008 when several large entities ceased to exist, along with the short term decimation of the mortgage industry, seems suspect as well.

[billvon 2,463]

How is "money made at other's expense?"

[weekender 0]

kallend

************www.washingtonpost.com/opinions/harold-meyerson-money-made-at-others-expense/2014/01/28/61a275fc-8853-11e3-a5bd-844629433ba3_story.html?tid=pm_opinions_pop

Jamie Dimon could make more money running a hedge fund or working at a private equity firm like KKR and Carlyle. I could only imagine how jealous that would make you and the author. People are paid what they are worth. Id say JPM shareholders feel they are getting a good deal with Dimon, given he could easily make more elsewhere and has done a great job running the company in hard times.

)

How do you deal with the brown on the nose?

mature comeback.

why so jealous? doesnt babysitting pay enough? look on the bright side. you are paid pretty well for part time. and as long as you dont touch a child you cannot even be fired. Jamie Dimon and I are quite envious of your job security.

Well, to temper his envy Jamie can now afford to buy another half dozen congressmen. Not sure about you though. Maybe you should have worked harder in school.

And my household is well into the top 1%, thank you. However, we do not seek to cut assistance to the poor, sick, and indigent to pay for special tax favors for ourselves, unlike the folks you admire so much.

i did fine in school. have a job i enjoy and a very fulfilling life, thank you.

Jamie Dimon is a Democrat. So is Loyd Blankfein of GSCO. i know that doesnt fit into your stereotype but true. they are both on the sidelines recently because they are well known Hillary supporters. as far as myself? the only party i ever joined is the the Democratic party.

I'm glad your doing well. it seems a shame that you can be so jealous of others though. I suppose you do not know how to be happy. i feel sorry for you.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[quade 3]

billvon

How is "money made at other's expense?"

Well, slavery would be an extreme example. Just above that would be the "indentured servant."

Low wages are, in fact, a sort of indentured servitude in a situation where employers are intentionally keeping the unemployment rate high. They know that if it's tough for the average worker to find -any- work, let alone good work, then they can pay their employees less and the employees will HAVE to continue to work for them at those low wages.

Right now we have a situation where companies are intentionally not hiring and sitting on huge cash reserves. They're forcing their existing workers to "work harder" doing the work of what was previously done be several employees. The average worker is pretty well screwed over in that situation.

quade -
The World's Most Boring Skydiver

[billvon 2,463]

>Low wages are, in fact, a sort of indentured servitude

That's bullshit. I worked at minimum wage for the first 6 years of my working life. It was nothing like slavery or indentured servitude.

>where employers are intentionally keeping the unemployment rate high.

?? High minimum wages are one of the primary factors keeping unemployment rates high. So are company bankruptcies. Are you arguing that employers are in cahoots to raise minimum wage levels and bankrupt themselves?

>Right now we have a situation where companies are intentionally not hiring and
>sitting on huge cash reserves.

Right now we're sitting on huge cash reserves. A lot of it is outside the country and can't be brought back in without losing about 40% of it to taxes, so it generally stays outside the country (unfortunately.) The remainder is being used (in part) to hire people - but for the kind of skills we need there just aren't a lot of good people out there. We've tried to remedy that but it takes a long time to train new people.

>They're forcing their existing workers to "work harder" doing the work of what was
>previously done be several employees.

And they generally can - because automation allows them to do the work of several people. The companies that do this well get a lot of work out of their employees and pay them well. Companies that don't do this well heap a lot of work on their employees and don't get a lot out of them. They pay them poorly as a result. Best option there - leave and go to a better company.

[kelpdiver 2]

quade

Right now we have a situation where companies are intentionally not hiring and sitting on huge cash reserves. They're forcing their existing workers to "work harder" doing the work of what was previously done be several employees. The average worker is pretty well screwed over in that situation.

Not in my parts - lots of hiring - companies want to expand. The pressure for publicly traded companies to meet growth figures is fierce. Your notion that they're deliberately sabotaging that is naive. But there's no question that many companies are being very conservative about adding costs. Employment has traditionally been a trailing indicator - hiring lags economic recovery.

but to say it is a collective plan to keep wages down - it's a nice sound bite, but there is no employer overload weekly magazine to keep them acting in concert. It's hundreds of thousands of separately acting entities.

[quade 3]

kelpdiver

but to say it is a collective plan to keep wages down - it's a nice sound bite, but there is no employer overload weekly magazine to keep them acting in concert. It's hundreds of thousands of separately acting entities.

I didn't say it was a collective plan. I'm saying it's a situation wherein a lot of individual companies plans have a collective effect.

quade -
The World's Most Boring Skydiver

[quade 3]

billvon

>Low wages are, in fact, a sort of indentured servitude

That's bullshit. I worked at minimum wage for the first 6 years of my working life. It was nothing like slavery or indentured servitude.

If jobs are scarce (which they are), then employers are emboldened to abuse their employees (which they do). Like when Wal-Mart moves moves into a town and destroys the local mom and pops leaving Wal-Mart as pretty much the only employer in the area. They get away with murder as far as abusing their employees goes because they know their employees have nowhere else to go.

quade -
The World's Most Boring Skydiver

[billvon 2,463]

>If jobs are scarce (which they are), then employers are emboldened to abuse their
>employees (which they do).

And indeed some do abuse their employees. Some companies are lousy; some are good. I advocate leaving abusive companies, although that's not always practical.

> Like when Wal-Mart moves moves into a town and destroys the local mom and pops
>leaving Wal-Mart as pretty much the only employer in the area.

That's not employee abuse, that's capitalism.

[quade 3]

You had specifically asked,

Quote

How is "money made at other's expense?"

After a few examples given by me you said,

Quote

That's not employee abuse, that's capitalism.

I believe we've come full circle.

Will Rogers said,

Quote

The difference between our rich and poor grows greater every year. Our distribution of wealth is getting more uneven all the time. A man can make a million and he is on every page in the morning. But it never tells you who gave up that million he got. You can’t get money without taking it from somebody.

Some things just don't change.

quade -
The World's Most Boring Skydiver

[billvon 2,463]

Do you think capitalism is "money made at other's expense?"

>You can’t get money without taking it from somebody.

True of poor people as well.

[quade 3]

billvon

Do you think capitalism is "money made at other's expense?"

By and large, yes. I think the vast majority of consumer goods are little more than a scam. So many products, so many lies. If companies were forced to tell the truth it would be a very different world.

quade -
The World's Most Boring Skydiver

[billvon 2,463]

>By and large, yes.

Hmm. Capitalism is based on people exchanging goods and labor for value (usually money.) If you sell someone a rig, are you making money at their expense since they are giving you money? I'd say no, you got value (money) and they got value (goods in the form of a parachute rig that they want.)

If they didn't want the rig, their best remedy would be to not buy it, not to picket you and write letters to your boss about how you unfair it is that you are making money at their expense.

[quade 3]

billvon

>By and large, yes.

Hmm. Capitalism is based on people exchanging goods and labor for value (usually money.) If you sell someone a rig, are you making money at their expense since they are giving you money? I'd say no, you got value (money) and they got value (goods in the form of a parachute rig that they want.)

If they didn't want the rig, their best remedy would be to not buy it, not to picket you and write letters to your boss about how you unfair it is that you are making money at their expense.

Did I suggest they do? No.

You asked the question. I gave an answer.

While I can agree with the concept, "capitalism is based on people exchanging goods and labor for value," that doesn't mean I agree with the shenanigans (aka outright lies) people will tell to convince people to make that exchange.

There's an awful lot of it. Just look around.

quade -
The World's Most Boring Skydiver

[DougH 270]

Just a matter of opinion.

Everyone makes their money at someones expense, what is open to interpretation is whether it is deserved, right, fair, etc.

You can question a banks profits, and its CEO's compensation.

Someone else might question a public state university's funding and annual tuition amounts, and its presidents pay.

CEO's are paid out of the same revenue that they are paid to manage and grow, and are at least somewhat accountable to the shareholders. Don't like it band together as shareholders, or dump the stock.

"The restraining order says you're only allowed to touch me in freefall"
=P