The 100 lowest-paying major US corporations spent $522B on stock buybacks from 2019 to 2023.
Buybacks artificially boost share prices and inflate CEO pay.
The typical worker at these companies earned just $34K last year.
Meanwhile, the average CEO was paid a whopping $14.7M.
Recently I visited a grocery store, and I knew the deli would shutdown earlier than store.
So, I go to the deli in the grocery store, 15 minutes before the advertised deli closing time.
Clerk: We are getting ready to close.
Me: I know that, that is why I am here now.
The clerk seemed put off that someone would show up during advertised hours.
Sucks to be them to work for crap management.
So, management, pay your employees, they will have a better attitude, and you will not lose customers.
Apparently, management rocket science is hard.
Robert Reich
SpaceLifeForm