Executive Total Compensation Post-Global Depression

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anonymous said:
We saw these quick, "on the road to Damascus" promotions a few short weeks ago (below).

Now let's see how our minority board members deal with executive leadership total compensation. Let's watch their total sense of fairness, social justice, moral integrity in everything they now have a voice to speak out on. Let's see what true character they have as a minority on our board? Or will they simply PICK & CHOOSE what "social" justice items to pound the board table on?
Could or can they give 'til it hurts, even a little bit in their new found, gluttonous Bristol-Myers Squibb board room?!

Or will they take every U.S. DOLLAR they can clutch now a part of the old, new gang?
  • Last month, Bristol Myers hired two new independent directors to its board — Paula A. Price and Derica W. Rice — taking it off the list of large companies lacking a single Black board member.
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Think you mean approval of company execs total comp as these "guys" aren't making what say Regeneron or Allergan make espousing brilliance on their boards. But get the point. Nothing will change. In fact, I predict total compensation will disproportionately rise yet again.
 




anonymous said:
Rising Executive Compensation Levels: Empirical Data
Executive pay has continued to rise considerably since the 1960s, as the following points demonstrate:
  • The Economic Policy Institute calculates CEO compensation grew by 937 percent between 1978 and 2013, compared to 10.2 percent for a “typical employee’s” compensation (Mishel and Davis 2014).
  • In the U.S., the average CEO-to-worker compensation ratio increased from 20 to 1 in 1965 to 295.9 to 1 in 2013 (Mishel and Davis 2014).
According to the deontological theory, the principle of fiduciary duty is a moral principle we are obliged to follow. We can therefore, examine the ethics of compensation using this principle.
What do you think the conclusions of this moral examination might find in 2020 at BMY, Giovanni Caforio?
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Since our greatest of great CEO and his team of greater than great leadership at Bristol-Myers Squibb is seeing so clearly these days, let's again pose the fair, moral question regarding total executive compensation driven by duty to do what is right:

Giovanni,
Isn't your personal CEO and fellow executive counterparts total compensation an URGENT GAP to be corrected not unlike the OBVIOUS GAP that needs filled in enrolling MINORITIES in clinical trials? Yes or No?

If your not familiar with the basics of duty driven, deontological ethical behavior, it's based on actions not the subsequent consequence. Let's put universal truths and rules aside.

In the United States of America, today, August 17th, 2020,
  • Is it right to lie?
  • Is it right to steal?
  • Is it right to collude?
  • Is it right to overstate value for financial gain?
  • Should you do the right thing in all circumstances (integrity/ character) within your clear power because it is the right thing to do?
By your recent actions on social justice issues, it appears you believe in “Duty for duty's sake”.
  • Do you believe that “Virtue is its own reward?
  • Does that not "pay the bills" and enrich the few and your family generational interests to your liking?
 




anonymous said:
Since our greatest of great CEO and his team of greater than great leadership at Bristol-Myers Squibb is seeing so clearly these days, let's again pose the fair, moral question regarding total executive compensation driven by duty to do what is right:

Giovanni,
Isn't your personal CEO and fellow executive counterparts total compensation an URGENT GAP to be corrected not unlike the OBVIOUS GAP that needs filled in enrolling MINORITIES in clinical trials? Yes or No?

If your not familiar with the basics of duty driven, deontological ethical behavior, it's based on actions not the subsequent consequence. Let's put universal truths and rules aside.

In the United States of America, today, August 17th, 2020,
  • Is it right to lie?
  • Is it right to steal?
  • Is it right to collude?
  • Is it right to overstate value for financial gain?
  • Should you do the right thing in all circumstances (integrity/ character) within your clear power because it is the right thing to do?
By your recent actions on social justice issues, it appears you believe in “Duty for duty's sake”.
  • Do you believe that “Virtue is its own reward?
  • Does that not "pay the bills" and enrich the few and your family generational interests to your liking?
Click to expand...

So, here at Bristol-Myers Squibb we live with the real risk of an increasing 'cheating culture' in all affairs of men and women. China to LA, an attitude of entitled cheating is present. It appears to be modeled at the very top.

We know Bristol-Myers Squibb is no substitute for people in our lives that infuse and consistently demonstrate character and integrity in all things. Bristol-Myers Squibb is not a living, breathing parent, guardian or trusted counsel to direct and develop moral and ethical behavior from early age through critical junctures in our lives. Leadership reminds us of that fact each day with a refined moral relativism.
 




So, how many years total compensation would it take our CEO, Giovanni Caforio to make what Bristol-Myers Squibb committed over 6 years (not in one year mind you) for the social awareness awakening initiatives "leadership" just announced? Again, that amount was $300,000,000. Three hundred million dollars.
How many years? Approximately 13 short years.

How many years would it take in your total compensation if you made $200,000 per year to make $300 million? 1,500 years
 




[So, how many years total compensation would it take our CEO, Giovanni Caforio to make what Bristol-Myers Squibb committed over 6 years (not in one year mind you) for the social awareness awakening initiatives "leadership" just announced? Again, that amount was $300,000,000. Three hundred million dollars.
How many years? Approximately 13 short years.

How many years would it take in your total compensation if you made $200,000 per year to make $300 million? 1,500 years

So, this is what SOCIAL JUSTICE looks like to Sus domesticus, CEO as we practice democracy. They celebrate our psoriasis drug trial results with bravado and political aplomb. Do not live in fear of a J O B, or your professional place as someone needs to speak out to the inequality that has escalated for 50 years in this country.

And, now our very executives hide behind "late game", crisis mode social justice campaigns that do not address the glaring INEQUALITY in corporate America. There is an unethical, corrosive injustice in compensation in this country that is tearing it apart by it's seams. A 'cancer' FAR GREATER than racial injustice and other forms of discrimination. Because if you can not be fairly compensated (even though you think you're "wealthy" in your sales job), you know it. It has bred a culture of CHEATING because that is the unsettling, real EXAMPLE of human beings who try to "teach you about social justice and integrity"; yet are the biggest hypocrites of our time.
 




One person. One human being here makes twenty-three million U.S. dollars on average in 365 days.
$23,000,000 in ONE calendar year.

That is $63,013 U.S. dollars per day EVERY day of the year.

That's $87,786 U.S. dollars PER DAY for the avg. work days, 262, per year.

So, you punks in Regional Management making, $257,753 a year. Your nothing. Lapped on Day 3. You reps out there working so hard for say, $135,000 a year. Your lapped on Day 2. You in R&D that do such good work, you make good money, say $200,000/ yr. in a vital research role but your right with Sales and Marketing. Now the lawyers in deserved lower case letter and manners of 'how to circumvent law' skills? They make between ~$250k-$1MM per year here. Their massive egos are lapped before mid-January.

The LIE, the unethical and IMMORAL nature of this is it is based on FALSE ASSUMPTION, CONDONED COLLUSION, AVAVICE and POWER. It has nothing to do with irreplaceable, unmatchable talent and skill. It has nothing to do with what is right and just. There is NO social justice here. It is a game by the Board, the leading stockholders and other power broker interests that PAY THEMSELVES IMMORALLY.

It is a LIE perpetrated with unflinching detriment to BRISTOL-MYERS SQUIBB, corporate AMERICA and the United States of AMERICA. So all their bravo about social justice are empty words, empty ethics. Your parents hopefully played that role when you are young. If you don't know what is inherently right today, here, you really should not be dealing in ... 'drugs' now should you?

The truth will in fact, set you free. Free from fear. Free from illusion.
 




anonymous said:
One person. One human being here makes twenty-three million U.S. dollars on average in 365 days.
$23,000,000 in ONE calendar year.

That is $63,013 U.S. dollars per day EVERY day of the year.

That's $87,786 U.S. dollars PER DAY for the avg. work days, 262, per year.

So, you punks in Regional Management making, $257,753 a year. Your nothing. Lapped on Day 3. You reps out there working so hard for say, $135,000 a year. Your lapped on Day 2. You in R&D that do such good work, you make good money, say $200,000/ yr. in a vital research role but your right with Sales and Marketing. Now the lawyers in deserved lower case letter and manners of 'how to circumvent law' skills? They make between ~$250k-$1MM per year here. Their massive egos are lapped before mid-January.

The LIE, the unethical and IMMORAL nature of this is it is based on FALSE ASSUMPTION, CONDONED COLLUSION, AVAVICE and POWER. It has nothing to do with irreplaceable, unmatchable talent and skill. It has nothing to do with what is right and just. There is NO social justice here. It is a game by the Board, the leading stockholders and other power broker interests that PAY THEMSELVES IMMORALLY.

It is a LIE perpetrated with unflinching detriment to BRISTOL-MYERS SQUIBB, corporate AMERICA and the United States of AMERICA. So all their bravo about social justice are empty words, empty ethics. Your parents hopefully played that role when you are young. If you don't know what is inherently right today, here, you really should not be dealing in ... 'drugs' now should you?

The truth will in fact, set you free. Free from fear. Free from illusion.
Click to expand...

Cry a river, bitch.
 








As we enter into with Giovanni's gang from afar in their American secular Xmas season,
There is no moral and ethical justification, only power and control, to justify the extreme self-indulgence of the corporate elitists we have right here at BMY. Unflinchingly they turn to tell us ever more, how to think and behave. Their mirrors are all shattered on their elegant floors.

It does not justify the extreme avarice our own corporate "leadership" demonstrates day after day, year on year in these United States of America. And our Bristol Myers Squibb's executive leadership unfettered greed is a shining example on top of the proverbial "Christmas" tree across this land.

CEO compensation has grown 940% since 1978. Typical worker compensation has risen only 12% during that time. Yes, our pay has risen a bit more; not the point, as we pray for January 2021 price increases.

Remember, my educated children of the pharmaceutical corn, we are now a "beacon". We are to be a "shining light on the social transformative hill" for all to see. Good soldiers, march! So, call on our holy leaders to dash their golden calf. Dash their golden calf as some remember and actually celebrate a child born in a humble manger. Then, grew up to teach us about the den of robbers, yes, thieves in the holiest of places, such as here.

CEO compensation has grown 940% since 1978: Typical worker compensation has risen only 12% during that time

Why it matters: Exorbitant CEO pay is a major contributor to rising inequality that we could safely do away with. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. This escalation of CEO compensation, and of executive compensation more generally, has fueled the growth of top 1.0% and top 0.1% incomes, leaving less of the fruits of economic growth for ordinary workers and widening the gap between very high earners and the bottom 90%. The economy would suffer no harm if CEOs were paid less (or taxed more).
 




Particularly like this paragraph dude- combo a horror movie, "Children of the Corn", Moses/Aaron-Old Testament, Jesus birth and Christ's ministry to make a point on extreme excess in capitalism.

Remember, my educated children of the pharmaceutical corn, we are now a "beacon". We are to be a "shining light on the social transformative hill" for all to see. Good soldiers, march! So, call on our holy leaders to dash their golden calf. Dash their golden calf as some remember and actually celebrate a child born in a humble manger. Then, grew up to teach us about the den of robbers, yes, thieves in the holiest of places, such as here.
 
















anonymous said:
That’s not even a fraction of what is going on. If you’re on the heavy end of the pay scale for what you supposedly do for the company....better start looking
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they’ve been cutting headcount and going FSP for 10 years and yet the management still blows hairy horse dick and the same old people are still sitting there waiting for a package. Even after numerous failed acquisitions, there revenue was largely flat from 2007 through 2018. They will screw up Celgene so the brief blip they got from them will soon be flushed down the toilet.
 




https://www.ivey.uwo.ca/cmsmedia/439310/Wernicke-manuscript.pdf

Few, if any will read this excellent Wernicke manuscript on the topic of Excessive CEO compensation and Corporate Social Responsibility (CSR).

But if you did, you might see the thought process, the political calculations top corporate executives like ours make regarding social issues, like the recent large "opportunity" placed in the large fiat heavy lap of our corporate executives this year. There are various hypothesis as to what "payoff" they might get from various "social" responses or actions. But they miss the main point in all their analysis, and that is simply, the norms have been pushed to excess, to extremes over the past 50 years. We are now faced with should be wide spread moral outrage at virtually every CEO and their executive teams total compensation.
 




A key summary below, forms a foundation for theories as to the Corporate Social Responsibility (CSR) actions of Giovanni Caforio, CEO and the executive leadership team in the sanitary halls of Bristol Myers Squibb at any time. But most certainly this tumultuous year.

Excerpt from CEO hypocrisy: How does CSR policy influence the reaction to excessive CEO pay?

"Based on these theories, we argue that moral outrage about excessive compensation levels is lower when firms have strong CSR policies along domains such as employee relations, diversity, and environmental protection. Finally, the question arises of whether executives care for their morally deviating behavior, and how they compensate for it. In other words, we are interested in whether moral outrage represents a constraint for the executive’s behavior. While top executives may not share a general moral standard of compensation, we argue that they would care for morally consistent conduct; specifically, in line with cognitive dissonance theory (Festinger, 1957), we propose that publicly exposing executive hypocrisy (not just perceived excessive remuneration) induces a behavioral change as well as a reduction in excess pay."


As many have said across the entire spectrum of politics and our culture: These, "our", corporate executives are hypocrites of the highest order. They know, precisely what they are doing for their own lavish benefit. It is doubtful, they will embrace and act with decisive conviction via Hypothesis #5. They have no integrity, yet preach 24/7 out of ten sides of their mouths.

https://www.ivey.uwo.ca/cmsmedia/439310/Wernicke-manuscript.pdf
 








CEO Compensation in the US Vs. the World
By David Sarokin October 09, 2020

CEO Compensation in the US Vs. the World

According to Statista, a survey of CEO pay in 2017 found U.S. executives with a substantial lead over CEOs in other countries. The average CEO compensation packages at large public companies were as follows:
  • $14.25 million in the United States
  • $8.50 million in Switzerland
  • $8.24 million in the Netherlands
  • $7.95 million in the United Kingdom
  • $6.49 million in Canada
Australia, Spain, Hong Kong and Singapore all had average CEO compensation of less than $5 million/year.

CEO Pay and the Average Worker
The gap between CEO compensation and worker salaries also differs considerably between countries. A survey of CEO-to-worker pay ratio by country reveals that, once again, the U.S. tops the list with the largest difference between CEO compensation and worker salaries. On average, a CEO in the U.S. earns 265 times more than the workers in his or her company.

So, dear Bristol-Myers Squibb colleague. There are many questions you could ask as to the justification for where the United States of America is in total executive compensation. A few might be,

  • Is this considerable difference to foreign companies justified by any rational analysis and means?​
  • Do our U.S. corporations generate on an "apples to apples" basis both short and long term returns that should provide that justification in significant, greater total compensation?​
  • Are our U.S. corporate executives such as ours, 1.75 to 2.0+ times more intelligent, productive and importantly, proven superior impact than the rest of the developed world's corporate executives?​
What do you objectively think, fellow BMS laborer?
This is a major social issue in this country. It demands transformative change like other important social equity issues.​
​
​
 








"Caught in an inescapable network of mutuality. I can never be what I ought to be until you are, what you ought to be. And you can never be who you ought to be until I am, who I ought to be."
Dr. Martin Luther King,
His last Sunday Sermon​

Bristol-Myers Squibb can either be a cold, calculated business. Or, it can take a genuine leadership of this American scientific industry led by PhRMA's Chairman of the Board of Directors, Dr. Giovanni Caforio.

Let us be as completely devoted in goodness as we ought to be in all our work at and through Bristol-Myers Squibb. Let us each seize the heart of complete moral and ethical social change. Let us choose to not sleep through injustice from the mountaintop of corporate leaders' greed to the valley of the least of us. May we truly change to do what is fair and just to help not "our patients" as we own no one; rather those we serve. Change from the top, down; entry level, up and all positions in between as we morally make a decent, measured living serving the patients who appropriately need our pharmaceutical solutions. We should never condone and support drug prices and drug profit that make others pay more for the benefit of our excess. Excess in the face of thousands underserved, financially challenged and impoverished right here in America. We could do far more good moving forward, if we have real courage and integrity to do what is right by those patients we serve.

May our Chairperson and Chief Executive Officer, Giovanni Caforio set an example, and voluntarily reduce his total compensation over the next three years by 30%. He can do that all at once in 2021 (Year Two of a worldwide pandemic) or 10% per annum. A beginning. A real example of social justice, an example for our company, our industry and our country, the world. Bristol-Myers Squibb would not fail; it would thrive and be held in high honor.
 




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