The Enron Effect: The American Public’s Hostile Attitudes Toward Top Business Managers. Large majorities think most are overpaid at the expense of other workers, and they are angry about it. In a recent Harris Pole, 87 Percent Say CEO's Are OVERPAID ! (The other 13 Percent were CEO's :) Want to fix the ecconomy ? It's really so simple. Cut all top CEO's and managers pay ! And I mean drastic cuts. NO ONE needs to make the kind of money they are paid. As I have said before, "I believe the majority of them are taking advantage of their employees to make the bottom line look good, keep the stockholders and the board happy, and get their big bonus." (And of course the Board of Directors are also well taken care of) Fact: The middle class need to be paid well ! Again, its so simple, NO DECENT PAY, NO BUY GOODS, and America's economy suffers. I made this simple so some corporate heads can understand it. no pay, no buy goods / no buy goods, YOUR company goes out of business ! And if you are a middle class worker, you must be tired of working so hard, while getting further behind ? AND - - - Arn't you tired of paying more taxes than your rich boss does. Its time for the middle class to stand up and be heard ! The situation in America today is near the breaking point. Dave Kaspersin 10/2002
Fix The Economy 102 1. No one who makes over X.XX per year or is worth more than XX.XX can hold office. 2. No one who is backed by a company / individual worth over XX.XX can run for office. In other words, we take the power away from the rich, and give the running of this country back to the people ! Dave Kaspersin 10/2002
Update 11/12/02 Kodak Confirms Layoffs, Says It Will Improve Competitiveness Rochester, NY - Eastman Kodak Co. representatives have announced that the company will be laying off between 1,300 and 1,700 employees worldwide, including hundreds of Rochester-area workers. The company will be closing its Lee Road plant, where single-use cameras are made, putting 500 people out of work. While sales of single-use cameras are up, they are too expensive to make here, company representatives said. Single-use camera production will be moved to plants in China and Mexico, where labor is cheaper. George Conboy of Brighton Securities said, "Assembly of those cameras with Rochester-area wages are making sales of those cameras much less profitable...and Kodak needs to compete profitably." In addition, 150 positions in the Global Manufacturing and Logistics units at Kodak Park will be cut, and approximately 150 jobs will be eliminated from Research & Development worldwide, which could also affect local workers. Kodak is also ending a sensitizing operation for graphic arts and X-ray films in Guadalajara, Mexico, cutting 300 jobs there. Monroe County Executive Jack Doyle has said he will ask the county's job training and placement program to help displaced workers. ===================================================================
Wake Up Kodak !"Single-use camera production will be moved to plants in China and Mexico, where labor is cheaper." Laying off Americans, and sending their jobs to China and Mexico is just one more straw on the backs of all American workers. All this does is quicken Kodak's demise. And what is sad is very few corporations see what they are doing to themselves. If we don't keep our people working, and paid well, who will buy Kodak's products ? Downsizing only puts money in the Corporate heads' pockets. Corporate greed is destroying our economy. Dave Kaspersin
Kodak's Perez May Reap Millions By Ben Rand Democrat and Chronicle (April 11, 2003) — A fortune awaits Antonio M. Perez if he succeeds as a top executive at Rochester’s largest employer. The new president and chief operating officer at Eastman Kodak Co. will receive 100,000 shares of restricted stock and 500,000 stock options in his first year, according to a federal securities filing. Perez will also receive a cash salary and may land a cash bonus. Those figures were not disclosed. The stock has an estimated potential value of $8.3 million, most of which comes from the option grant. That figure is based on Thursday’s closing price of $31.35 and a rough formula provided by compensation experts. The $8.3 million is not cash in the bank. The precise value will fluctuate with the price of Kodak shares on the New York Stock Exchange, which depends on the company’s financial success. The option package, in fact, could become worthless. Perez’s stock package is identical to the award given to Patricia F. Russo, who held the job between April 2001 and January 2002 before joining Lucent Technologies Inc. as chief executive officer. Perez comes to Kodak from Hewlett-Packard Co., where he ran the company’s $16 billion consumer media division. The compensation reflects Kodak’s belief in Perez’s abilities, spokesman Gerard Meuchner said. “The world is increasingly competitive, particularly in the market for executive talent,” he said, “and Mr. Perez is an executive of considerable talent.”
Update 08/03 This is an excerpt from an article by Mortimer B. Zuckerman Editor-in-Chief Us News "Continued cost cutting by companies dubious that a recovery is just around the corner suggests the pessimists are. More than 3.8 million people now draw unemployment benefits, the highest in 20 years. The number looking for jobs has passed 9 million for the first time in 10 years. The unemployment rate has climbed to a nine-year high of 6.4 percent. The economy has lost over 300,000 jobs this year, and unemployment claims are still up around 425,000 a week. Since productivity gains are clearly exceeding the rate of growth, companies can go on cutting payroll while still meeting demand. If this continues, the rate of growth in disposable income will slow, consumption weaknesses will accelerate, and investment will be discouraged even more." "So the toughest question for the optimists is, Why should the economy come roaring back? Not much faith can be placed in the fiscal stimulus proposed and passed by the Bush administration since it is directed much more to stimulating investment spending and benefiting the wealthy. Given the excess capacity we clearly still have and given that the tax benefits will not incite adequate consumer demand, we may well be in for another unpleasant surprise--a slow economy throughout the rest of this year, much like what we have seen over the past two years."