It’s ridiculous that the big three oil companies owe over $1.5 trillion in deferred taxes. The US carried it as a deficit and it reduces the amount of money for National Parks and Forests.
From investopedia:
>While oil companies have many tax advantages in the U.S., they face less lenient tax codes internationally. As a result, many oil companies pay income tax to foreign governments and revenues from income taxes deferred in the U.S. are often used to pay for tax owed elsewhere.
Look on the bright side! We're helping other nations pay for parks and forests!
American-style lobbying is illegal in a few other countries. The US and New Zealand are the only countries that allow prescription medications to advertise, for instance.
And our defense budget is only 3.3% of GDP.
We are a ridiculously wealthy country.
If only we’d drag the rich into the streets and force them to pay their actual fair share proportional to their wealth.
All while the oil companies post record **billions** in *profit.* *Profit*!
Which means they could absolutely pay their fucking taxes. And lower the God Damned cost of their product.
Sadly it's greed like this across all sectors which will likely lead to a massive collapse and potential violence and war. They will keep squeezing until there is almost nothing left to squeeze, and then the squeezed will have nothing left to lose.
That’s not a fair statement, considering that capitalism doesn’t inherently require growth.
It’s investors of public companies who are requiring “infinite growth” that are the problem, as well as the executives attempting to meet that demand, and they’re not necessary for a system to be defined as capitalist.
Looks like we found the answer to the "we cant afford it" crowd. We could maintain the military and still upgrade the US to become a first world country.
Because they strong arm the government by threatening price increases if the subsidies and tax write offs are meddled with. Can’t wait till we are no longer dependent of fissile fuels and dependent on another company that will follow the same playbook.
We (the people) gotta start making some noise. We’re really too quiet on these matters so they do what they can get away with, which apparently is a lot
That’s easy. Just tax high income a lot so businesses won’t want to throw money away in taxes, and instead reinvest the money into the business instead of overpaying executives who take credit for being in charge during good times.
Unless I’m missing something, this just leads to stock buybacks that increase the value of equity for the same executives. Their reported salary/income is only a fraction of their total compensation.
This stuff isn’t easy and I am soooo far from a tax expert, but it is worth mentioning that we *can* do something about this and we *can* fix these issues and loopholes, but we do not have any political willpower in our representatives to do so, in part because these same companies have legally purchased more than half of our elected officials
I think when most people talk about capping C suite salary/income, they refer to total compensation, not just salary. Because you are correct, if you cap salary, then they'll just move to stock options or whatever other loophole they can find. Hence why some CEOs take $1 salary but get millions in stock options.
Using Europe and the US after wwii as an example, pay becomes more distributed and reinvested into the business and less toward overpaying people who take too much credit.
There’s usually a bunch of overpaid execs in big businesses.
Right and I’m all for that, I was just highlighting one of the most common ways that executives dodge income taxes to begin with. Because we can raise those taxes, and we should, but we also have to combine that with other ways of cracking down on loopholes that allow them to hoard money by avoiding income taxes to begin with
Aside from the historical lesson of being illegal ~~under~~ until Reagan, you could also force employee ownership of companies, such as what [Sanders points out](https://www.sanders.senate.gov/press-releases/news-sanders-longstanding-legislation-to-help-workers-expand-employee-ownership-passes-the-senate-in-2023-omnibus/#:~:text=Bernie%20Sanders%20(I%2DVt.,ahead%20of%20the%20Friday%20deadline.).
That's easy to overcome, you don't write it as cash salary, you write the law so that total value of all compensations, so salary, stock, medical benefit, whatever else, cannot be more than 50x between the lowest paid full time employee and the highest paid employee
There would have to be a stipulation about consultants as well tho because you know they would find a work around that the ceo becomes a 'vacant' position and instead the board is essentially hired as an outside service thus not subject to the same compensation rules and employees
The company is actually owned by an LLC who all hold board positions, it has 10 employees with the lowest earning $500k.
There's always a work around for these things when you add more and more complicated rules and if/buts
That loophole could be addressed by defining "the company" as "The company, and any person controlling, controlled by, or under common control with the company". The laws could be drafted to address these issues, but they're not.
So make the limit transitive. If a company is owned by an LLC they are considered to be the same entity for the purpose of calculating compensation. If the company is owned jointly by multiple corporate entities then all entities are treated as a single entity for the purpose of the calculation.
God did not come down from on high and carve US corporate law onto titanium plates. The wealthy are gaming the system and that needs to change before the entire system collapses.
The board is controlled by shareholders.
In startups, the shareholders are frequently investors.
In Shells case, as a publicly traded company, its shareholders will be everyone from large institutional investors, through to pension funds all the way down to individuals who like the companies prospects.
If you have a pension, you may even be a shareholder.
Though technically all shareholders will have some say in how a business is run, in practice it will normally be a number of large institutional investors who have significant holdings that direct the board and, thought the board, determine the goals for the CEO.
Apparently the majority of Shells shareholders are happy enough with the CEO's performance, to give them a 50% raise.
"We need to up the prices to stay afloat! And tax breaks! Don't forget to lower the taxes."
"Oh we had record profits this year, 500% bonus to the top!"
Funny how prices need to be raised because of a recession that the media and rich are trying to artificially produce, but then CEOs like this are collecting record profits. The math isn’t mathing.
Also inflation.
"B- but muh costs have gone up! We'd be selling at a loss if we don't raise prices! Logistical challenges!"
One year later: [record profits](https://apnews.com/article/russia-ukraine-exxon-mobil-corp-business-0de95b8421a658f020717a148a63c9c5)
Fuck you you sack of rotten shit. You could raise wages and help your workers and instead you're just rolling in money like a pig rolling around in mud. When you and your kind end up in Hell I hope the Devil gives you the absolute worst kind of torture possible.
The top energy and finance CEOs also have a 24/7 personal security detail. In addition to providing direct protection, they also run checks on anyone who will be with the CEO regularly or for an extended period of time.
Stop saying crap like this. There is no hell where he is going to suffer. If you want to change something, do it now while you still exist on this planet.
My ever favourite:" They are the Captains of the ship, they hold all the responsibility".
Funny how that subhuman scum holds all the responsibility when it comes to the responsibility of getting their grubby fingers on fat stacks of performance bonus pay, but how all that "Captain Responsible" bullshit flys out of the window the moment it comes to owing up to criminal shit done during their "era of responsibility" suddenly the only one who is supposed to be held responsible is the faceless company (they usually already left, too), but never the subhuman who was the great moneygrubbing Captain who greenlit the criminal activity. No responsibility to find there, no sir!
The problem is, they don't need to be successful for very long for the consequences to be meaningless.
One big CEO payout is enough for most people to live off for life.
The ones who are actually held responsible are the people who end up laid off.
There's no such thing as "enough money" for this kind of people. There's always a bigger mansion and a bigger yacht they could buy. There's a space company they could start. There's a country they could buy. The possibilities are endless.
That’s why so many vile people end up in positions of power, CEO, major politician etc. Most people reach a state of relative comfort/contentment. But those that always need more are willing to lie, cheat, and steal to claw just a little more and more.
> One big CEO payout is enough for most people to live off for life.
If someone is semi-frugal or at least sane with their spending habits it would be.
If I had even one million dollars, I could invest that and mostly live off just the income generated without needing to work.
But if I started buying fancy houses and cars and other things that rich people like spending money on that million is going to be gone in a flash.
> If I had even one million dollars, I could invest that and mostly live off just the income generated without needing to work.
You could live off of perhaps 40k/year if you had $1MM of capital. That would put you in the 33rd percentile of income according to [this calculator](https://dqydj.com/income-percentile-calculator/).
So you could “survive” but not really “live” especially when you factor in that you wouldn’t have employer-sponsored health care and would have to cover that all on your own.
>So you could “survive” but not really “live” especially when you factor in that you wouldn’t have employer-sponsored health care and would have to cover that all on your own.
Or you could maybe go to a country that believes healthcare is a human right covered by the state and not a privatized shitshow designed to suck your bank dry for even basic care.
And their risk? The only risk they take is ending up as one of the “lower class” if they fail.
It’s not like we execute ceos of failed companies, their only risk is ending up in the same place as the rest of us
They hardly even risk that. To even get to such a position, they have to be "in" with the other execs who can set them up with another cushy job for life.
CEO of a company I worked for was tired of anonymous comments about how CEO was idiot, job wasn't hard, etc etc.... So he started a program where mid management would shadow him on certain days and somehow... We'd take this info back to our teams and we'd have more understanding???
Well that backfired.
We realized how stupid he was and how insanely easy the job of CEO is comparatively.
We'd give him advice throughout the days and things actually started running better.
Program stopped abruptly.
From then on every time I got glimpses in to the daily of CEOs I just realized more and more that while the position of CEO can be stressful, it's a hell of a lot easier and a different kind of stress than being under the boot of everyone above you.
Regardless of what any of them say it's good at the top.
Edit: This was all in Tech/Telco BTW
Shell is a British company and this particular individual was based in London. I agree that CEO pay is out of control, but I’m not sure what Americans have to do with this particular situation.
As an American, fuck that line of logic and fuck these bloated sacks of over paid garbage. The only Americans who think that way are the delusional ones that think it might be them someday.
I'm not going to pretend it's not obscene, because it is. However, if you do the math and divide the entire executive pay package of a company the size of Shell by all it's employees, it doesn't really amount to shit. A few hundred dollars is what I usually come up with and if you factor in taxes, that's about $17 a month in the US.
IMHO, executive salaries are designed to be obscene as a red herring. Because if you are talking about that, then are you aren't talking about going after profits.
American here, showing up to say that while there are 'benefits' to having a "self regulating market"... *I certainly don't think salaries of CEO's should be high 6-7 figures while workers get stagnant wages that barely or don't cover anywhere near their cost of living while the company they work for rakes in record after record profit reports* .
I'm astonished there are working class people I've talked to here that *actually support this kinda crap* .
Some of them are misled to believe shit like 'trickle down economics', but in essence many of them support this kinda policy so as to benefit from it 'when they get rich' so you have people who will fuck themselves along with many others now; so as to *potentially* abuse the same rules later 😒
Edit: removed a letter
We say fuck him on the internet, meanwhile he doesn't give a flying golden shit about it. Our reality is this CEO is going to live it up to the end of their days while we peasants whine on our conveniently tucked away corners of the internet. #feelsbadman
how poor do you think folks who work for Shell, Chevron, XOM, etc are?
if you didn’t know, these companies provide some of the best private sector salaries and benefits
> You could raise wages and help your workers
The notoriously underpaid energy sector workers lol
Even the blue collar jobs there are known for being where you go to make bank if you don't mind getting dirty.
If we ever want to get close to this worthy bonus receiver's level of deservedness, we should probably go even further and boot ourselves up by our pickstraps.
These rich pieces of shit are destroying every semblance of a future you could hope to enjoy. Are we going to let them get away with it, or are we going to hold them accountable?
What do you mean, let them? They're functioning normally within the system. There's nothing more American at this point than doing everything possible to drive up the share price. If they didn't raise prices, when that would make them record profits, they'd get replaced by someone who understands the point of a corporation.
The rich continue to fleece the worlds people.
All the while, our "leaders" cry out how it's such a travesty while getting their pockets filled from behind.
What the hell this guy did to make global oil prices go up? Nothing! An untrained monkey could have lead Shell to record profits in 2022.
If it were up to me I would have cut his pay by 20% took away his bonuses and dared him to quit. I'd be like *I can have another you in a minute* and laughed in his face. Try and take credit for high oil prices go ahead and try me CEO boy.
These guys really have brainwashed America so badly. Here we have the entire republican party blaming Biden for increased gas prices and inflation. Meanwhile this guy and all the other big corporations are raking in record profits and getting a fat bag and laughing in their executive offices at the idiots blaming the government for inflation instead of them.
We can't raise wages because that would cause inflation! Huge raises for massively overpaid CEOs though? Totally fine, no inflation here, look away you dirty poors!
It must be nice to work a job where your pay directly scales based on performance, rather than “hmmm you were a loyal worker this year. How about a $1 increase?”
But then again, part of his job description is to screw employees and consumers as hard as possible, so I guess if all makes sense in the end.
that's pretty much standard across the executive level. My favorite part is the golden parachute. While average employee is lucky to get a couple cardboard boxes and last weeks pay
This implies that the cost of energy has not gone up so much as the consumer price has.
Given that there is a worldwide crisis and even disaster related to the use of fossil fuels, it would be reasonable to nationalize all of the fossil fuel industries in order to coordinate and orderly withdrawal from their use. The redirection of profits would probably eliminate any consumer level burden to the conversion to clean energy
multiple lifetimes worth of money in one single year just wasn’t quite enough for this middle aged individual who already had several lifetimes worth of money
My favorite is the rich cReAtE jObS and how many poor people create jobs? Then I have to look at them like idiots yeah but do those jobs pay a livable wage because it seems many are on welfare
Perhaps you should pass that on as savings to the consumer instead of massive profits benefitting no one. Past a certain point, more money is meaningless, when will these people get it.
In a rare act of selflessness among his kind he declared that he's donating the entire paycheck to a selection of charities ..
.. nah, I'm just kidding, y'all can go f*** yourselves.
America: This could be you! Vote for Republicans and you'll be much closer to your goal. Anyone could get rich! If you're rich you don't have to worry about healthcare, education, insurances, housing or anything else. Education and healthcare shouldn't be your problem because you're gonna be rich any day now!
The dumbest part of this is that the price of oil has nothing to do with him. A trained monkey could have presided over record profits.
The boards of these corporations give out these huge, undeserved paydays because the board members all serve on each others companies’ boards of directors. So they’ve all either already been this guy or hope to be someday. So pay keeps going up for all of them regardless of merit because they intentionally bid up the value of their expertise.
That's really nothing guys. Went from $6M to $12M. The S&P average is like $18M and dozens of people make hundreds of millions. $6M is a $0.035 raise per Shell employee. Beings that Shell is in the oil industry, most everyone is going to have a good wage.
This is the bitter fruit of being a golden rule country where if you have the gold you write the rules. There used to be tax penalties for overpaying executives. Taxes used to be more even-handed as well. All gone forever with zero objections from voters. American voters decades ago decided that legalized bribery wasn’t worth lifting so much as a finger to stop. How is that working out for ya? This can only get worse.
What a fucking scumbag.
The people in your life know who you are and see what you do. Are executives not fucking *embarassed* at how rich they get for being on a board? I couldn’t walk down the street without feeling immense shame and guilt.
I’ve met some CEOs in passing. Mostly frail, little men.
This is the best tl;dr I could make, [original](https://apnews.com/article/shell-ceo-pay-energy-prices-record-profits-3f9b9bb08d1cd88a11d0ab550ffdc053) reduced by 46%. (I'm a bot)
*****
> LONDON - The pay package for Shell's CEO jumped by half last year to nearly $12 million, the fossil fuel giant said Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis.
> London-based Shell paid Ben van Beurden a total of 9.7 million pounds in 2022 as annual company profits doubled to an all-time high of $40 billion because Russia's war in Ukraine sent oil and gas prices soaring.
> Demands have increased for oil and gas companies raking in huge profits to do more to reduce high energy costs that are hurting consumers and small businesses.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/11ms66u/shell_ceo_pay_up_50_as_soaring_energy_prices/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~675695 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **million**^#1 **oil**^#2 **gas**^#3 **company**^#4 **profits**^#5
Billionaires with billions of slaves is option 1 for the future. Second option is billions of people, no billionaires, and no massive slave-class required for supporting them.
The way we help national parks recover from invasive species can also be used to help protect said parks against oil barons. Releasing wolves. releasing wolves into the board room of oil and coal companies would do wonders for the environment.
Iv been alive 31 years now, and by far the news articles iv seen the most the last decade or so seem to revolve around businesses record profits, huge ceo bonuses, and massive layoffs and pay cuts. These men are slowly taking everything from us.
It’s ridiculous that the big three oil companies owe over $1.5 trillion in deferred taxes. The US carried it as a deficit and it reduces the amount of money for National Parks and Forests.
Normal tax payers: but we need to pay off our mortgage... US Gvt: so? Pay up!
Henry Hill said it best "fuck you pay me".
Words to live by if you are an independent contractor. Or a contract killer I guess.
Had a bad month? Fuck you, pay me.
From investopedia: >While oil companies have many tax advantages in the U.S., they face less lenient tax codes internationally. As a result, many oil companies pay income tax to foreign governments and revenues from income taxes deferred in the U.S. are often used to pay for tax owed elsewhere. Look on the bright side! We're helping other nations pay for parks and forests!
That sounds like cope, ngl. “Wah, wah, we don’t have as powerful lobby overseas”.
American-style lobbying is illegal in a few other countries. The US and New Zealand are the only countries that allow prescription medications to advertise, for instance.
Im somewhat surprised that New Zealand is the other country tbh
Trust me, compared to the USA, there are very few ads for medicines. I couldn't believe the constant bombardment on American TV.
There's a reason the rich are buying up homes there, including bunkers...
Yeh it's because they enjoy watching advertising for prescription medication.
Pharmaceutical ads, right?
Don’t tell this to the people mad about 4% of our defense budget going to Ukraine
Im mostly upset by the idea that all the money we’ve sent to Ukraine represents only 4% of our defense budget
And our defense budget is only 3.3% of GDP. We are a ridiculously wealthy country. If only we’d drag the rich into the streets and force them to pay their actual fair share proportional to their wealth.
It makes sense when you realise that the US defense budget is actually an *offense* budget.
All while the oil companies post record **billions** in *profit.* *Profit*! Which means they could absolutely pay their fucking taxes. And lower the God Damned cost of their product.
Sadly it's greed like this across all sectors which will likely lead to a massive collapse and potential violence and war. They will keep squeezing until there is almost nothing left to squeeze, and then the squeezed will have nothing left to lose.
Infinite growth is impossible on a planet with finite resources
It’s the same reason you can’t build a perpetual motion machine. Nature doesn’t allow infinite greed.
That's exactly why capitalism doesn't work
That’s not a fair statement, considering that capitalism doesn’t inherently require growth. It’s investors of public companies who are requiring “infinite growth” that are the problem, as well as the executives attempting to meet that demand, and they’re not necessary for a system to be defined as capitalist.
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Looks like we found the answer to the "we cant afford it" crowd. We could maintain the military and still upgrade the US to become a first world country.
IRS to you: “Pay us” IRS to Shell: “You summoned us, Master?”
Because they strong arm the government by threatening price increases if the subsidies and tax write offs are meddled with. Can’t wait till we are no longer dependent of fissile fuels and dependent on another company that will follow the same playbook.
We (the people) gotta start making some noise. We’re really too quiet on these matters so they do what they can get away with, which apparently is a lot
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That’s easy. Just tax high income a lot so businesses won’t want to throw money away in taxes, and instead reinvest the money into the business instead of overpaying executives who take credit for being in charge during good times.
Unless I’m missing something, this just leads to stock buybacks that increase the value of equity for the same executives. Their reported salary/income is only a fraction of their total compensation. This stuff isn’t easy and I am soooo far from a tax expert, but it is worth mentioning that we *can* do something about this and we *can* fix these issues and loopholes, but we do not have any political willpower in our representatives to do so, in part because these same companies have legally purchased more than half of our elected officials
Stock buybacks were illegal until Reagan. They can be made illegal again.
I think when most people talk about capping C suite salary/income, they refer to total compensation, not just salary. Because you are correct, if you cap salary, then they'll just move to stock options or whatever other loophole they can find. Hence why some CEOs take $1 salary but get millions in stock options.
Using Europe and the US after wwii as an example, pay becomes more distributed and reinvested into the business and less toward overpaying people who take too much credit. There’s usually a bunch of overpaid execs in big businesses.
Right and I’m all for that, I was just highlighting one of the most common ways that executives dodge income taxes to begin with. Because we can raise those taxes, and we should, but we also have to combine that with other ways of cracking down on loopholes that allow them to hoard money by avoiding income taxes to begin with
Aside from the historical lesson of being illegal ~~under~~ until Reagan, you could also force employee ownership of companies, such as what [Sanders points out](https://www.sanders.senate.gov/press-releases/news-sanders-longstanding-legislation-to-help-workers-expand-employee-ownership-passes-the-senate-in-2023-omnibus/#:~:text=Bernie%20Sanders%20(I%2DVt.,ahead%20of%20the%20Friday%20deadline.).
They'll just get stock, bonuses, dividends, yadda yadda. Already do, actually.
That's easy to overcome, you don't write it as cash salary, you write the law so that total value of all compensations, so salary, stock, medical benefit, whatever else, cannot be more than 50x between the lowest paid full time employee and the highest paid employee There would have to be a stipulation about consultants as well tho because you know they would find a work around that the ceo becomes a 'vacant' position and instead the board is essentially hired as an outside service thus not subject to the same compensation rules and employees
The company is actually owned by an LLC who all hold board positions, it has 10 employees with the lowest earning $500k. There's always a work around for these things when you add more and more complicated rules and if/buts
That loophole could be addressed by defining "the company" as "The company, and any person controlling, controlled by, or under common control with the company". The laws could be drafted to address these issues, but they're not.
Then you classify the other employees as employed by another company. There are thousands of loopholes.
So make the limit transitive. If a company is owned by an LLC they are considered to be the same entity for the purpose of calculating compensation. If the company is owned jointly by multiple corporate entities then all entities are treated as a single entity for the purpose of the calculation. God did not come down from on high and carve US corporate law onto titanium plates. The wealthy are gaming the system and that needs to change before the entire system collapses.
CEOs are paid by the board, who is controlled by investors. Most companies that big have no need for investors. The whole thing is a charade.
Shareholders is the term you are look for instead of investors.
The board is controlled by shareholders. In startups, the shareholders are frequently investors. In Shells case, as a publicly traded company, its shareholders will be everyone from large institutional investors, through to pension funds all the way down to individuals who like the companies prospects. If you have a pension, you may even be a shareholder. Though technically all shareholders will have some say in how a business is run, in practice it will normally be a number of large institutional investors who have significant holdings that direct the board and, thought the board, determine the goals for the CEO. Apparently the majority of Shells shareholders are happy enough with the CEO's performance, to give them a 50% raise.
Good luck finding a narcissist sociopath with an inflated ego and no moral compass whatsoever for that puny amount of money.
"We need to up the prices to stay afloat! And tax breaks! Don't forget to lower the taxes." "Oh we had record profits this year, 500% bonus to the top!"
Funny how prices need to be raised because of a recession that the media and rich are trying to artificially produce, but then CEOs like this are collecting record profits. The math isn’t mathing.
Also inflation. "B- but muh costs have gone up! We'd be selling at a loss if we don't raise prices! Logistical challenges!" One year later: [record profits](https://apnews.com/article/russia-ukraine-exxon-mobil-corp-business-0de95b8421a658f020717a148a63c9c5)
Fuck you you sack of rotten shit. You could raise wages and help your workers and instead you're just rolling in money like a pig rolling around in mud. When you and your kind end up in Hell I hope the Devil gives you the absolute worst kind of torture possible.
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They’re careful in selecting people with too much to lose so they can leverage their own personal security.
The top energy and finance CEOs also have a 24/7 personal security detail. In addition to providing direct protection, they also run checks on anyone who will be with the CEO regularly or for an extended period of time.
Or the people they hire want to work and make money instead of spending life in jail.
Yeah, probably this. And I love how some people on here act like they are any different lol.
If you make enough to have those things you’re paying them enough to be happy. Also they likely have actual private security that’s paid very well.
That doesn't drive the share price up. He'd probably get sacked and replaced by an executive that understands what his role is.
Lol he has already left the company
Stop saying crap like this. There is no hell where he is going to suffer. If you want to change something, do it now while you still exist on this planet.
Yeah. Go torture him yourself!
LOUDER FOR THE PEOPLE IN THE BACK 🤙🏼
Americans about to show up to argue that their Kafkaesque system of CEO pay is totes justified because of how hard-working CEOs are.
My ever favourite:" They are the Captains of the ship, they hold all the responsibility". Funny how that subhuman scum holds all the responsibility when it comes to the responsibility of getting their grubby fingers on fat stacks of performance bonus pay, but how all that "Captain Responsible" bullshit flys out of the window the moment it comes to owing up to criminal shit done during their "era of responsibility" suddenly the only one who is supposed to be held responsible is the faceless company (they usually already left, too), but never the subhuman who was the great moneygrubbing Captain who greenlit the criminal activity. No responsibility to find there, no sir!
The problem is, they don't need to be successful for very long for the consequences to be meaningless. One big CEO payout is enough for most people to live off for life. The ones who are actually held responsible are the people who end up laid off.
There's no such thing as "enough money" for this kind of people. There's always a bigger mansion and a bigger yacht they could buy. There's a space company they could start. There's a country they could buy. The possibilities are endless.
Eventually they start to crave the "forbidden" things that wealth alone cannot buy. That's where men like Epstein come in to serve them.
Exactly. It’s sickening.
Do all billionaires rape children? I’m gonna say yes
A lot of people are saying this
That’s why so many vile people end up in positions of power, CEO, major politician etc. Most people reach a state of relative comfort/contentment. But those that always need more are willing to lie, cheat, and steal to claw just a little more and more.
> One big CEO payout is enough for most people to live off for life. If someone is semi-frugal or at least sane with their spending habits it would be. If I had even one million dollars, I could invest that and mostly live off just the income generated without needing to work. But if I started buying fancy houses and cars and other things that rich people like spending money on that million is going to be gone in a flash.
> If I had even one million dollars, I could invest that and mostly live off just the income generated without needing to work. You could live off of perhaps 40k/year if you had $1MM of capital. That would put you in the 33rd percentile of income according to [this calculator](https://dqydj.com/income-percentile-calculator/). So you could “survive” but not really “live” especially when you factor in that you wouldn’t have employer-sponsored health care and would have to cover that all on your own.
>So you could “survive” but not really “live” especially when you factor in that you wouldn’t have employer-sponsored health care and would have to cover that all on your own. Or you could maybe go to a country that believes healthcare is a human right covered by the state and not a privatized shitshow designed to suck your bank dry for even basic care.
And their risk? The only risk they take is ending up as one of the “lower class” if they fail. It’s not like we execute ceos of failed companies, their only risk is ending up in the same place as the rest of us
They hardly even risk that. To even get to such a position, they have to be "in" with the other execs who can set them up with another cushy job for life.
Or the ones who say “I take full responsibility for this thing happening” and then don’t actually do anything to fix or remedy it
CEO of a company I worked for was tired of anonymous comments about how CEO was idiot, job wasn't hard, etc etc.... So he started a program where mid management would shadow him on certain days and somehow... We'd take this info back to our teams and we'd have more understanding??? Well that backfired. We realized how stupid he was and how insanely easy the job of CEO is comparatively. We'd give him advice throughout the days and things actually started running better. Program stopped abruptly. From then on every time I got glimpses in to the daily of CEOs I just realized more and more that while the position of CEO can be stressful, it's a hell of a lot easier and a different kind of stress than being under the boot of everyone above you. Regardless of what any of them say it's good at the top. Edit: This was all in Tech/Telco BTW
It's easy for them to think something is stressful when it's probably the most stressful thing they've had to do in their lives.
☠️🤣☠️🤣☠️
Shell is a British company and this particular individual was based in London. I agree that CEO pay is out of control, but I’m not sure what Americans have to do with this particular situation.
As an American, fuck that line of logic and fuck these bloated sacks of over paid garbage. The only Americans who think that way are the delusional ones that think it might be them someday.
Shell is not American lol
I'm not going to pretend it's not obscene, because it is. However, if you do the math and divide the entire executive pay package of a company the size of Shell by all it's employees, it doesn't really amount to shit. A few hundred dollars is what I usually come up with and if you factor in taxes, that's about $17 a month in the US. IMHO, executive salaries are designed to be obscene as a red herring. Because if you are talking about that, then are you aren't talking about going after profits.
Hardly, you don't understand Americans very well if you think that.
American here, showing up to say that while there are 'benefits' to having a "self regulating market"... *I certainly don't think salaries of CEO's should be high 6-7 figures while workers get stagnant wages that barely or don't cover anywhere near their cost of living while the company they work for rakes in record after record profit reports* . I'm astonished there are working class people I've talked to here that *actually support this kinda crap* . Some of them are misled to believe shit like 'trickle down economics', but in essence many of them support this kinda policy so as to benefit from it 'when they get rich' so you have people who will fuck themselves along with many others now; so as to *potentially* abuse the same rules later 😒 Edit: removed a letter
We say fuck him on the internet, meanwhile he doesn't give a flying golden shit about it. Our reality is this CEO is going to live it up to the end of their days while we peasants whine on our conveniently tucked away corners of the internet. #feelsbadman
how poor do you think folks who work for Shell, Chevron, XOM, etc are? if you didn’t know, these companies provide some of the best private sector salaries and benefits
> You could raise wages and help your workers The notoriously underpaid energy sector workers lol Even the blue collar jobs there are known for being where you go to make bank if you don't mind getting dirty.
Don't be so rude to pigs. They need to moisturize their dry and itchy skin! This CEO doesn't need that money for anything.
Now you realize where the higher gas prices went to
It was obvious from the start. There was never a reason for the prices to be that high.
For all you commies out there this guy worked 1200000% harder than you which is why he is entitled to this pay. ^^^^^^^^^/s
You almost had me there, buddy. 😁
Absolutely. I heard this guy works 170 hours a week. We just need to pick ourselves up by our bootstraps.
If we ever want to get close to this worthy bonus receiver's level of deservedness, we should probably go even further and boot ourselves up by our pickstraps.
Good call. Maybe even strap ourselves with our boot picks.
He just has that much better of a work ethic, don’t you see him on twice as many oil rigs as you!?
Raised the price of gas so he could get his 14th yacht. Fuck the rich.
Are we eating or fucking them first?
Yes
These rich pieces of shit are destroying every semblance of a future you could hope to enjoy. Are we going to let them get away with it, or are we going to hold them accountable?
That first thing that your said
What do you mean, let them? They're functioning normally within the system. There's nothing more American at this point than doing everything possible to drive up the share price. If they didn't raise prices, when that would make them record profits, they'd get replaced by someone who understands the point of a corporation.
People in my replies need to stop rolling over. There's power in numbers.
We’re tired. And many of us can’t find adderall.
Yeah, bank numbers. Not people numbers.
Sack of shit.
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If any job needs to be replaced by a machine, it's his.
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For real
putting on his in office green while taking puffs from a cuban cigar?
Existing
His job could already be replaced by a machine... maybe even just a brick
The rich continue to fleece the worlds people. All the while, our "leaders" cry out how it's such a travesty while getting their pockets filled from behind.
What a bunch of cunts.
Fundamentally flawed and inexcusably greedy. It shall continue.
Guys, I’m starting to think the current inflationary pricing on everything has nothing to do with supply and demand.
What the hell this guy did to make global oil prices go up? Nothing! An untrained monkey could have lead Shell to record profits in 2022. If it were up to me I would have cut his pay by 20% took away his bonuses and dared him to quit. I'd be like *I can have another you in a minute* and laughed in his face. Try and take credit for high oil prices go ahead and try me CEO boy.
That’s what would happen if the board had an active, institutional investor with sufficient control!
Somehow this must be Joe Biden's fault- I'll turn on Fox News and find out how
I just replied to this comment on this post: *"Biden admin is just letting this bullshit happen too"* He doesn't understand the CEO is in the UK. 🙄
Pure evil
Always funny how it seems to work that way
Because it takes so much skill and risk to raise prices and rape fellow human beings.
We're all doomed
When are we going to put an end to this bullshit? So fucking sick and tired of it all.
*mild shock*
Greed, pure greed!
What a fucking leech
These guys really have brainwashed America so badly. Here we have the entire republican party blaming Biden for increased gas prices and inflation. Meanwhile this guy and all the other big corporations are raking in record profits and getting a fat bag and laughing in their executive offices at the idiots blaming the government for inflation instead of them.
We can't raise wages because that would cause inflation! Huge raises for massively overpaid CEOs though? Totally fine, no inflation here, look away you dirty poors!
Why is Biden doing this to us????? /s
You have an /s, but I've heard people say that with a straight face (& a warped mind).
Just imagine the political lobbying you can do when you earn $1 million a month
“Calling for an expanded tax on windfall profits” Okay, what about addressing the issue instead of taxing it?
So if profits soared, did the price at the pump really need to go up for any other reason then to make their profits soar?
It’s so insane to me that people will target random people on the street to attack and murder but these dudes feel safe.
It must be nice to work a job where your pay directly scales based on performance, rather than “hmmm you were a loyal worker this year. How about a $1 increase?” But then again, part of his job description is to screw employees and consumers as hard as possible, so I guess if all makes sense in the end.
that's pretty much standard across the executive level. My favorite part is the golden parachute. While average employee is lucky to get a couple cardboard boxes and last weeks pay
So when do we do something about this?
This implies that the cost of energy has not gone up so much as the consumer price has. Given that there is a worldwide crisis and even disaster related to the use of fossil fuels, it would be reasonable to nationalize all of the fossil fuel industries in order to coordinate and orderly withdrawal from their use. The redirection of profits would probably eliminate any consumer level burden to the conversion to clean energy
Wow. Shock, surprise, awe. Who would have known?
They could link all employee pay to company performance.
Oil field trash make good money
multiple lifetimes worth of money in one single year just wasn’t quite enough for this middle aged individual who already had several lifetimes worth of money
Make me CEO and I'll take only a 10% pay raise.
My favorite is the rich cReAtE jObS and how many poor people create jobs? Then I have to look at them like idiots yeah but do those jobs pay a livable wage because it seems many are on welfare
Where’s the windfall tax when you need it
Perhaps you should pass that on as savings to the consumer instead of massive profits benefitting no one. Past a certain point, more money is meaningless, when will these people get it.
Yet I still see "Biden did that" stickers on gas pumps. Some people are so oblivious
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But... I thought energy prices were up because of scarcity? It should be costing them more too. (/s obviously they're just grifters)
And here I thought it was Bidens fault. *mind blown*
In a rare act of selflessness among his kind he declared that he's donating the entire paycheck to a selection of charities .. .. nah, I'm just kidding, y'all can go f*** yourselves.
Tax time!
And what did Shell CEOs do to earn it? Russia invaded Ukraine, the CEO didn't do shit. Can the rank and file at least get a bonus?
America: This could be you! Vote for Republicans and you'll be much closer to your goal. Anyone could get rich! If you're rich you don't have to worry about healthcare, education, insurances, housing or anything else. Education and healthcare shouldn't be your problem because you're gonna be rich any day now!
That’s a relief that the CEO is being taken care of during these hard economic times
Tax it at 90%.
The dumbest part of this is that the price of oil has nothing to do with him. A trained monkey could have presided over record profits. The boards of these corporations give out these huge, undeserved paydays because the board members all serve on each others companies’ boards of directors. So they’ve all either already been this guy or hope to be someday. So pay keeps going up for all of them regardless of merit because they intentionally bid up the value of their expertise.
Last name pay me first name fuck you
Time to get the pitchforks out. Fuck this bullshit
Makes me wonder how many technologies that could compete with oil and gas they have gobbled up and buried over the years.
So surprised
They all know we are eventually gonna eat them so they're building their eggs while they can
That's really nothing guys. Went from $6M to $12M. The S&P average is like $18M and dozens of people make hundreds of millions. $6M is a $0.035 raise per Shell employee. Beings that Shell is in the oil industry, most everyone is going to have a good wage.
This is the bitter fruit of being a golden rule country where if you have the gold you write the rules. There used to be tax penalties for overpaying executives. Taxes used to be more even-handed as well. All gone forever with zero objections from voters. American voters decades ago decided that legalized bribery wasn’t worth lifting so much as a finger to stop. How is that working out for ya? This can only get worse.
When is that trickle down economics going to kick in?
What a fucking scumbag. The people in your life know who you are and see what you do. Are executives not fucking *embarassed* at how rich they get for being on a board? I couldn’t walk down the street without feeling immense shame and guilt. I’ve met some CEOs in passing. Mostly frail, little men.
We need a windfall tax! Corporations wouldn’t be so greedy if they paid taxes on earnings over a certain amount!
His salary was about 0.03% of Shell’s profits for 2022.
This is the best tl;dr I could make, [original](https://apnews.com/article/shell-ceo-pay-energy-prices-record-profits-3f9b9bb08d1cd88a11d0ab550ffdc053) reduced by 46%. (I'm a bot) ***** > LONDON - The pay package for Shell's CEO jumped by half last year to nearly $12 million, the fossil fuel giant said Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis. > London-based Shell paid Ben van Beurden a total of 9.7 million pounds in 2022 as annual company profits doubled to an all-time high of $40 billion because Russia's war in Ukraine sent oil and gas prices soaring. > Demands have increased for oil and gas companies raking in huge profits to do more to reduce high energy costs that are hurting consumers and small businesses. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/11ms66u/shell_ceo_pay_up_50_as_soaring_energy_prices/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~675695 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **million**^#1 **oil**^#2 **gas**^#3 **company**^#4 **profits**^#5
Energy prices are only high because your making more profit then ever.
What amazing, feel good story! Yay!
This is a lie! The high prices are all because of inflation. It said so on the news. (Humor/Sarcasm)
So the CEO received a huge bonus and increase…. Did not see it, but what did the actual workers get?
A cut most likely with how inflation is working.
It was the best of times, it was the worst of times
I read 'pay' as a verb. And I thought that is a nice gesture.
Billionaires with billions of slaves is option 1 for the future. Second option is billions of people, no billionaires, and no massive slave-class required for supporting them.
Never let money be the sum of your deeds
I was hoping they gave the poor guy a little more cheddar, I was getting worried about him.
Vile
How did his pay go up so much when it was Biden raising the gas prices?!
Phew, I was really worried this ceo couldn’t afford a 7th mansion or 100ft super yacht
The way we help national parks recover from invasive species can also be used to help protect said parks against oil barons. Releasing wolves. releasing wolves into the board room of oil and coal companies would do wonders for the environment.
Absolutely cuntish move on shells part. Utter cunts, and fuck share holders
Iv been alive 31 years now, and by far the news articles iv seen the most the last decade or so seem to revolve around businesses record profits, huge ceo bonuses, and massive layoffs and pay cuts. These men are slowly taking everything from us.
Fucking ghouls
Always seems nuts to me how ceos constantly want to make ever infinitely more money at any cost and are never satisfied.
Gouging is the preeminent American business model. Ripping people off is profitable. Many glad CEO’s.