\”Yes a performance bonus can be pid but it shouldn\’t exceed 6% of the lowest paid worker within the company.\”
I agree CEO\’s get paid WAY too much money, but you have to have made some sort of error in the comment above. A performance bonus that is 6% of the lowest paid worker? Let\’s assume the worker makes $25,000… the bonus would be $1,500? Sorry, I know they are overpaid, but that\’s a ridiculous bonus. I have gotten way bigger bonuses than that paltry amount.
Perhaps they shouldn\’t get more than a certain percentage of THEIR salary. How would you like it if your bonus was paid dependent on someone who makes minimum wage?
It\’s not for me to say how much somebody else should pay or get paid, but your comment below shows why you in particular should support this bill:
\”Insurance companies should have been doing this for their insureds a long time ago but instead there are large payouts to CEO\’s and CFO\’s and some investors in the billions in the form of stock option sales.\”
Insurers have built surplus when they could (homeowners has been a huge money loser for all of my career until very recently, and then only in non-hurricane states). However, they have been prohibited from establishing catastrophe reserves. The difference is that surplus comes from profits, out of which taxes, dividends, and yes, bonuses, are taken before the remainder is released to surplus. If catastrophe reserves were permitted, policyholder protection increases while taxes, dividends, and bonuses drop.
Take 2006, for example. Since hurricane activity was minimal, artificial profits were earned throughout the southeast, resulting in higher taxes, dividends, and bonuses. Wouldn\’t you rather have your insurer save that money in a liability account and decrease rates, rather than giving it to stockholders and high-paid executives?
There\’s something here for capitalists and socialists alike!
If the money made will be reinvested in the company and the workers don\’t have to sacrifice health insurance costs and vacation time and investment accounts overall hedging then YES IAM ALL FOR IT!.
You must be one of the people that get such large payments! I can tell by your bitterness towards my suggestion.
Happy employees make for a more productive environment and when you have the cost of living WELL exceeding a petty 4% pay increase you\’re not going to have happy workers you will have high turnaround and the cusomer ultimately pays for it.
If you are on the stock buying side then you\’re just as much to blame because you as a cinsumer are causing the American jobs to be shipped overseas to increase company profits.
Regards
I agree to a certain extent. If this is going to be an additional charge to premiums paid then I would rather control my own money.
I agreee with your statement that Ins Co\’s should have been preapred for these CATs a long time ago but instead they pocketed the money and never even reinvested in the very company they work for.
When you have to justify a ink cartridge as an expense and it\’s part of a tool to perform a function within the insurance workplace. That\’s Insane!
Just a quick clarification. The quoted statement was yours, not mine. (That\’s probably why you agreed with that part so wholeheartedly.) For my part, I don\’t think it\’s any of my business what somebody else is paid. I was just attempting to explain that tax-exempt cat reserves for insurers are a net gain for policyholders.
\”You must be one of the people that get such large payments! I can tell by your bitterness towards my suggestion.\”- You can\’t tell anything from my post, except what I have stated.
How do you figure? Wow, you\’re not as intelligent as I was giving you credit for. I wasn\’t bitter. Your idea just wasn\’t feasible. Essentially, your idea was stupid. You complain about a measly 4% raise. I never said that was fair, did I? I asked you how you would like a 5% bonus off minimum wage (approximately $800 or so) if you have done an amazing job for your company. Stop spouting off when you can\’t even comprehend what someone has posted.
You\’re obviously the bitter one. So much so that when someone doesn\’t agree, you fill their mouths (posts) with your inane comments. Besides, everyone knows, if I made the big bucks I sure as h*** wouldn\’t be in my office at 3:30 on a Tuesday afternoon.
Please enlighten us on to what method you would \’reinvest\’ the money in the company. True, a bonus for many CEO\’s sound like pipedreams to the most of us, but some of those bonus\’ are purely based upon performance. Think of it like a football coach; you win, you get paid handsomely.
How would McDonald\’s take the bonus money they won\’t pay their ceo under your plan and reinvest? Brighter colored frenchfrie cartons? Bringing back the Arch Deluxe?
Don\’t forget the golden rule: he who hast the gold makes da rules. Aint\’ fair, but dat\’s da way life is sometimes. Some CEO\’s are worth the cost; some aren\’t. Some ideas are good, others stink.
If you can create a better socialistic system, please do, just take it to whatever country you move to. Thanks.
Shut up Chad. Too funny… I\’d rather they bring back the McRib… or have they? I don\’t really eat at McDonalds- love the fries though. And brighter colored containers are a GREAT idea. I think more people would supersize then.
Anyway, I also wanted to say that $1,500 isn\’t a small amount of money. Perhaps I should have been more clear. To a CEO being paid hundreds of thousands (or millions) of dollars, $1,500 is like a day\’s worth of work (assuming $500,000 per year). Imagine if your company gave you a bonus equal to 1 day of work. And this LJ or PLJ (whoever) is complaining about how he gets treated now. Yes, let\’s implement his/her idea of a bonus plan structure and see how he likes his $200 bonus. Give me a break!
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\”Yes a performance bonus can be pid but it shouldn\’t exceed 6% of the lowest paid worker within the company.\”
I agree CEO\’s get paid WAY too much money, but you have to have made some sort of error in the comment above. A performance bonus that is 6% of the lowest paid worker? Let\’s assume the worker makes $25,000… the bonus would be $1,500? Sorry, I know they are overpaid, but that\’s a ridiculous bonus. I have gotten way bigger bonuses than that paltry amount.
Perhaps they shouldn\’t get more than a certain percentage of THEIR salary. How would you like it if your bonus was paid dependent on someone who makes minimum wage?
It\’s not for me to say how much somebody else should pay or get paid, but your comment below shows why you in particular should support this bill:
\”Insurance companies should have been doing this for their insureds a long time ago but instead there are large payouts to CEO\’s and CFO\’s and some investors in the billions in the form of stock option sales.\”
Insurers have built surplus when they could (homeowners has been a huge money loser for all of my career until very recently, and then only in non-hurricane states). However, they have been prohibited from establishing catastrophe reserves. The difference is that surplus comes from profits, out of which taxes, dividends, and yes, bonuses, are taken before the remainder is released to surplus. If catastrophe reserves were permitted, policyholder protection increases while taxes, dividends, and bonuses drop.
Take 2006, for example. Since hurricane activity was minimal, artificial profits were earned throughout the southeast, resulting in higher taxes, dividends, and bonuses. Wouldn\’t you rather have your insurer save that money in a liability account and decrease rates, rather than giving it to stockholders and high-paid executives?
There\’s something here for capitalists and socialists alike!
If the money made will be reinvested in the company and the workers don\’t have to sacrifice health insurance costs and vacation time and investment accounts overall hedging then YES IAM ALL FOR IT!.
You must be one of the people that get such large payments! I can tell by your bitterness towards my suggestion.
Happy employees make for a more productive environment and when you have the cost of living WELL exceeding a petty 4% pay increase you\’re not going to have happy workers you will have high turnaround and the cusomer ultimately pays for it.
If you are on the stock buying side then you\’re just as much to blame because you as a cinsumer are causing the American jobs to be shipped overseas to increase company profits.
Regards
I agree to a certain extent. If this is going to be an additional charge to premiums paid then I would rather control my own money.
I agreee with your statement that Ins Co\’s should have been preapred for these CATs a long time ago but instead they pocketed the money and never even reinvested in the very company they work for.
When you have to justify a ink cartridge as an expense and it\’s part of a tool to perform a function within the insurance workplace. That\’s Insane!
Just a quick clarification. The quoted statement was yours, not mine. (That\’s probably why you agreed with that part so wholeheartedly.) For my part, I don\’t think it\’s any of my business what somebody else is paid. I was just attempting to explain that tax-exempt cat reserves for insurers are a net gain for policyholders.
\”You must be one of the people that get such large payments! I can tell by your bitterness towards my suggestion.\”- You can\’t tell anything from my post, except what I have stated.
How do you figure? Wow, you\’re not as intelligent as I was giving you credit for. I wasn\’t bitter. Your idea just wasn\’t feasible. Essentially, your idea was stupid. You complain about a measly 4% raise. I never said that was fair, did I? I asked you how you would like a 5% bonus off minimum wage (approximately $800 or so) if you have done an amazing job for your company. Stop spouting off when you can\’t even comprehend what someone has posted.
You\’re obviously the bitter one. So much so that when someone doesn\’t agree, you fill their mouths (posts) with your inane comments. Besides, everyone knows, if I made the big bucks I sure as h*** wouldn\’t be in my office at 3:30 on a Tuesday afternoon.
My bad… 6%
Please enlighten us on to what method you would \’reinvest\’ the money in the company. True, a bonus for many CEO\’s sound like pipedreams to the most of us, but some of those bonus\’ are purely based upon performance. Think of it like a football coach; you win, you get paid handsomely.
How would McDonald\’s take the bonus money they won\’t pay their ceo under your plan and reinvest? Brighter colored frenchfrie cartons? Bringing back the Arch Deluxe?
Don\’t forget the golden rule: he who hast the gold makes da rules. Aint\’ fair, but dat\’s da way life is sometimes. Some CEO\’s are worth the cost; some aren\’t. Some ideas are good, others stink.
If you can create a better socialistic system, please do, just take it to whatever country you move to. Thanks.
And at what salary rate? that\’s the kicker or was it calculated off LAE for the year?
Bringing back the Arch Deluxe?
Shut up Chad. Too funny… I\’d rather they bring back the McRib… or have they? I don\’t really eat at McDonalds- love the fries though. And brighter colored containers are a GREAT idea. I think more people would supersize then.
Anyway, I also wanted to say that $1,500 isn\’t a small amount of money. Perhaps I should have been more clear. To a CEO being paid hundreds of thousands (or millions) of dollars, $1,500 is like a day\’s worth of work (assuming $500,000 per year). Imagine if your company gave you a bonus equal to 1 day of work. And this LJ or PLJ (whoever) is complaining about how he gets treated now. Yes, let\’s implement his/her idea of a bonus plan structure and see how he likes his $200 bonus. Give me a break!