Don’t create poverty

I had received a proxy vote statement from XYZ (National Retail Chain Store) yesterday where I am encouraged to go online and express my opinions. Yes, I vote for the board of directors… But, I vote against an “incentive compensation package” for the executive for 2012. Just how many jobs, wages, hours, and positions for the employees across the nation would such a compensation cost them? I am quite certain that they [board of directors/CEO] are getting paid well enough now and need to start considering that it takes people with paychecks to guarantee an improved economy and improved profits for businesses in general. As a shareholder in XYZ. I am not exactly thrilled with CEOs getting overpaid as they create some real overwhelming problems such as:

  • People who work so few hours that they literally qualify for food stamps, unemployment, or even welfare. Because they certainly couldn’t pay bills, rent, pay a mortgage, buy food or clothing, qualify for health insurance, etc. with the “pay” they are currently receiving.
  • The rather nasty declarations by certain supervisors that XYZ doesn’t “owe you” an opportunity to put a roof over your head. Well, since at least some of us happen to be shareholders; we don’t think the CEO of XYZ needs to be “owed” any kind of compensation, period as long as XYZ creates the potential for homelessness and starvation among the employees.
  • So until the employees start getting up to 30 hour work weeks, there shouldn’t be an incentive compensation package at all for the guys at the top.
  • It takes employees to run the stores, greet the customers, help them with their needs, and set the stores to rights every night upon closing. If the argument of the current CEO is that he can’t “afford this” in order to have an increased compensation for himself then the store’s loss of business as a consequence of a loss of support staff means that XYZ can’t afford this CEO. It can’t afford this incentive package. The employees don’t “owe” the CEO such an executive package. Neither do what remains of the customers “owe” the executives any such package.

Where it looks like the CEO of XYZ is literally trying to create a bankruptcy situation for the entire national chain store then “compensating” him for it is not the way to do it. If he sets out to create literal financial nightmares for the people who work for him across the nation. Then “compensating” him for creating a financial burden for others is repugnant. Nice to be a share holder, where you can vote your disagreement with all of that.

Because I am looking at full time self-employment between recycling aluminum cans and in two weeks starting my business enterprise at the Kootenai County Farmers’ Market, I was in one of the local craft stores “Lyle’s” where one of the people working there wanted to blame Obama for the lack of business. I see plenty of customers at Michaels, no doubt there are plenty of customers at JoAnnes. Obama is not responsible for local businesses facing “unfair competition” with national chains that offer coupons, and the fact that coupons drive customers to their doors. No president is in any kind of position to protect local businesses against national chain stores. But the customers could themselves start remembering that local stores provide much the same types of craft material, and at times, at a much better price than the national chain stores do. “Lyles” on Best Avenue in Coeur d’Alene, Idaho could use some paying customers. If they can shop at Michaels, they can shop at “Lyles.”

I received a secondary tax refund from the IRS regarding the EIC. I put part of it into bank accounts, used part of it to pay my utilities bill, bought some soils for my raised beds at WalMart, and went to Super 1 for a bit of grocery shopping. Quite frankly, I would have preferred that I had a decent paycheck from XYZ (National Chain Store) to have paid for all of that. Instead of turning to tax refunds and an inheritance to take care of this. I believe that is why it is called employment. Well, it was employment, now I am going to retire from the workforce at some point this year. Even though I am only 58. What ever I have in a 401(k) where most of what I have is in XYZ stock, can be turned quite handily into a Roth IRA. Given the grief of last year, and the insistence of XYZ’s new CEO to create real financial problems and low morale for his thousands of employees this year, it is simply time to give it up. Because there is one thing that these “captains of the free market” seem to have forgotten, that it takes people with paychecks to guarantee the profitability of any business. You don’t want to invest in your employees and actually provide them with a paycheck; then sooner or later: The states lose a tax base and cut deeply into their budgets that end up hurting deeply vital services, the federal government borrows too much, local businesses hurt from a lack of paying customers, national businesses hurt from a lack of paying customers. If you want the profits, first issue paychecks. Take care of your employees and they will take care of you.

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