Check out how much the snap-on execs make

[KPSquared]

I cry bull ****, what does this guy do for his $33000 a day ? dream up new tools, improve production, improve quality ?? maybe how to offshore production to improve profits so he can make $66000 a day next year

Look at what the CEO made in the haydays 1950's and 1960's as a proportion to now, he gets payed that coz thats what he has negotiated, not as to his value to the company

I agree with you...what can any CEO do that's worth that much money in one day??? Does the companies success have anything to do with their suite??? Doesn't seem to anymore....the ceos of the big banks that lost so much money didn't seem to vary much. Did any of them make substantially less money when their company struggled?

How many of these CEOs sit on other corporate boards? They determine the salary of others, just as others determine their salary. Anything fishy about that? I would think so....

Probably too political...sorry!

quit whining. You guys sound like the endlessly useless "occupy" crowd. Work hard, do the best you can, let other people worry about them selves. Who cares what he makes? If you don't like it, don't buy the tools. That's it, that's all.

At the hard working mans expense. You have obviously never seen there boxes being repo'd after the guy got laid off. You have obviously never seen somebody ruin there credit(which affects potential jobs) because they couldn't afford to pay the Snap On truck off. Good for the bankers, good for Castro, good for housing lenders giving people approving $350,000 to people I know who had jobs for 1 year, knowing they would never pay it off. Bad for the "average American" who gets by with what he makes in one day for an entire year. The American dream is ruining peoples credit while importing more Chinese made stuff, while making more than ever. In and of itself, your comment seems fine, but reality is he is a shark consuming the American carcass.

I don't think the American Dream was ever "borrow way more money than you can afford so you can have a bunch of stuff"

The guys that lost it spent money they didn't have and when the **** hit the fan, they got caught by their stupid decisions.

Then they cry, "poor me" and blame the guy who lent them the money. That is BS.

You are responsible for your own actions. No one forces you to buy stuff you can't afford. Time for men to start acting like men and take responsibility for the choices they (and no one else) make for themselves.

 

[thesilverone]

^bingo

 

[powertrip]

Hell yeah to this post ^^^^

 

[buco]

quit whining. You guys sound like the endlessly useless "occupy" crowd. Work hard, do the best you can, let other people worry about them selves. Who cares what he makes? If you don't like it, don't buy the tools. That's it, that's all.








I don't think the American Dream was ever "borrow way more money than you can afford so you can have a bunch of stuff"

The guys that lost it spent money they didn't have and when the **** hit the fan, they got caught by their stupid decisions.

Then they cry, "poor me" and blame the guy who lent them the money. That is BS.

You are responsible for your own actions. No one forces you to buy stuff you can't afford. Time for men to start acting like men and take responsibility for the choices they (and no one else) make for themselves.

Thing is there are so many people that are borrowing way more than they can handle the whole system will not be able to take it all, as we have all been seeing since roughly 2008.

People who fail go bankrupt. And there are more and more of these failures and less and less successful people. this is adding up quickly.

One may have money in the bank, but once that money is deflated because of defaulted loans and mortgages, the bailout money will devalue the dollar and the value of what you have in the bank is really not much.

I guess what I am trying to say is that there are not really any consequences for the people who are living beyond their means.

This system socializes debt and privatizes profit..

Other peoples actions do and will affect us. All of us will suffer.

 

[Moose-LandTran]

If I supply drugs to drug addicts, I suppose it is there fault for "ordering" the drugs.

Correct.

If you're forcing it on them, that's something else. Ultimately the responsibility falls on the person taking out the loan or signing the credit agreement. I do think that some responsibility falls on the person selling, but they can't and don't force it upon the buyer.

It's known as "living outside your means" and those who do so, usually think they're not to blame.

 

[mitusa]

(1) it's called supply and demand; (2) they don't

I'm not going to argue one way or the other......I figure this guy (he writes for Forbes) knows something about this topic. I've posted about 1/3 of the article. There's a link at the bottom.....read the complete article if you want. Agree or not, I encourage everyone to read the article....

Why America's Highest Paid CEOs Are Insanely Overpaid


Besides being a matter of greed, and this is also a moral issue and a matter of fairness. Questions to examine: How did this freight train get so out of control and what actions can stop, no, knock this insidious train off its track and watch it burn?

None of the corporate chieftains Forbes has recognized can pull off these shareholder heists alone. They need complicity. First of all there is the board of directors which, if not handpicked, is then at a minimum approved by the CEO. A subset of this august group is the compensation committee. Once they’re sharpened their pencils and put new batteries in their calculators, then they call up the compensation consulting firm. These guys specialize in designing incentives, long-term this, short-term that, stock options, retirement, supplemental retirement, non-qualified whatever. Blah, blah, blah, all part of the charade that must be acted out. At sunset the consultants produce a leather bound (if it’s not it should be for what it cost) treatise to justify the injustice of preparing the great king for induction to the highest-paid list.

The compensation committee, armed with this divine opinion, is safe from scrutiny. The shameless consultants can just pull their data base of all the other overpaid CEOs as their backup. The composition of most all boards’ of directors of S&P 100 companies goes something like this: CEOs of other big companies, retired CEOs of other big companies, and other. This “other” category includes a lot of talented, highly educated and successful people whose success was likely in fields that don’t pay a lot of money. Retired college professors, museum directors, retired politicians are examples.

Being on the board of an S&P 100 company may pay from $250,000 to $400,000 per year in cash, plus health insurance, and at least one board retreat with spouses for maybe 10 or 15 meetings per year. Good work if you can get it. A lot of these people may serve on two, three or more boards. Serving on a board or two is the difference between a ho-hum retirement and being able to easily put your grandkids through college and being able to comfortably travel the globe. Do they have any incentive to make waves? I think not.

The other CEO and ex-CEO directors will be soundly in favor of giant pay because they too want giant pay and every overpaid CEO is a great comparable for the consultants to continue perpetrating this pernicious cycle. Any director that is not an employee of the company is considered an “outside director.” This is a joke. There are so many CEOs sitting on each other’s boards that the concept of the “board of directors” structure as a system of checks and balances to management behavior has become a joke. It is a corporate aristocracy more likened to a large incestuous family whose inbreeding has finally decomposed what was once a mechanism for sound corporate governance.

You can read the whole article here.......
http://www.forbes.com/sites/christo...icas-highest-paid-ceos-are-insanely-overpaid/

http://www.cbsnews.com/8301-505125_162-28242185/should-ceos-sit-on-other-boards/

 

[boostedgt]

stop stamping USA.

profit

 

[2oolhound]

I don't think the American Dream was ever "borrow way more money than you can afford so you can have a bunch of stuff"

The guys that lost it spent money they didn't have and when the **** hit the fan, they got caught by their stupid decisions.

Then they cry, "poor me" and blame the guy who lent them the money. That is BS.

You are responsible for your own actions. No one forces you to buy stuff you can't afford. Time for men to start acting like men and take responsibility for the choices they (and no one else) make for themselves.

As Woodie Guthrie put it
"some folks rob you with a six gun,
and some with a fountain pen"

We live in a time that when some folks are struggling day to day other experts are analyzing them to figure out how much they can extract from them. People in marketing are being taught how to sway people into "buying things they should not ought to buy" (quote Frank Zappa).

Banks are culprits of this, as soon as they see their clients net worth and see their level of debt they recognize what their limits are and know what target they want to saturate you to. I have friends and relatives that have been woowed by their bankers after receiving inheritance or other chunks of money. Their bankers swoon around them saying "yes Mister _____ Oh Yes, with your net worth bla bla bla.. you could easily carry a 150,000.00 line of credit. Wouldn't you like to be driving a new truck etc etc. They treat country hicks like big shots and before you know it they are in debt up to their eye balls and not because they foolishly and greedily over spent but because the bankers sucked them in to saturating their personal debt to their limit. When these folks had their inheritance the bank was paying them interest but the banks turned it around so they are paying the bank the interest and at 5 times the rate.

You can say they are at fault but these are people who spend there waking hours putting food on the table, paying bills, putting kids through school etc and just don't have time to educate themselves in everything they are involved in. They trust the experts who don't have their best interests in mind. It is their bankers' job to sell credit and they are good at it. While the banker is foreclosing on 2 families he's at the same time setting up 2 more in the next office to saturate their maximum debt. It's not just one or two dummies that have fallen victim here, there's lots of them. Look at Fanny Mae and Freddie Mac. Look at Greece. Look at Portugal, Ireland and Spain and don't forget Iceland. Look back to Argentina who were as economically as powerful as any nation with the largest base of middle income citizens anywhere but whose inflation reaching 5,000% at times devalued their middle class citizens net worth to that of peasants.

I just hope these winners of the American Dream are spreading their wealth at home and not in some refuge in the Riviera or half way around the globe where they can gloat because their money is even more valuable.

 

[MR_T]

I wish I made 10 MIL a year

 

[mitusa]

stop stamping USA.

profit

May be off topic, but some of the J H Williams tools are now made in Taiwan...I wonder how long before you can't buy any USA Williams tools?

 

[buco]

I'm not going to argue one way or the other......I figure this guy (he writes for Forbes) knows something about this topic. I've posted about 1/3 of the article. There's a link at the bottom.....read the complete article if you want. Agree or not, I encourage everyone to read the article....

Why America's Highest Paid CEOs Are Insanely Overpaid


Besides being a matter of greed, and this is also a moral issue and a matter of fairness. Questions to examine: How did this freight train get so out of control and what actions can stop, no, knock this insidious train off its track and watch it burn?

None of the corporate chieftains Forbes has recognized can pull off these shareholder heists alone. They need complicity. First of all there is the board of directors which, if not handpicked, is then at a minimum approved by the CEO. A subset of this august group is the compensation committee. Once they’re sharpened their pencils and put new batteries in their calculators, then they call up the compensation consulting firm. These guys specialize in designing incentives, long-term this, short-term that, stock options, retirement, supplemental retirement, non-qualified whatever. Blah, blah, blah, all part of the charade that must be acted out. At sunset the consultants produce a leather bound (if it’s not it should be for what it cost) treatise to justify the injustice of preparing the great king for induction to the highest-paid list.

The compensation committee, armed with this divine opinion, is safe from scrutiny. The shameless consultants can just pull their data base of all the other overpaid CEOs as their backup. The composition of most all boards’ of directors of S&P 100 companies goes something like this: CEOs of other big companies, retired CEOs of other big companies, and other. This “other” category includes a lot of talented, highly educated and successful people whose success was likely in fields that don’t pay a lot of money. Retired college professors, museum directors, retired politicians are examples.

Being on the board of an S&P 100 company may pay from $250,000 to $400,000 per year in cash, plus health insurance, and at least one board retreat with spouses for maybe 10 or 15 meetings per year. Good work if you can get it. A lot of these people may serve on two, three or more boards. Serving on a board or two is the difference between a ho-hum retirement and being able to easily put your grandkids through college and being able to comfortably travel the globe. Do they have any incentive to make waves? I think not.

The other CEO and ex-CEO directors will be soundly in favor of giant pay because they too want giant pay and every overpaid CEO is a great comparable for the consultants to continue perpetrating this pernicious cycle. Any director that is not an employee of the company is considered an “outside director.” This is a joke. There are so many CEOs sitting on each other’s boards that the concept of the “board of directors” structure as a system of checks and balances to management behavior has become a joke. It is a corporate aristocracy more likened to a large incestuous family whose inbreeding has finally decomposed what was once a mechanism for sound corporate governance.

You can read the whole article here.......
http://www.forbes.com/sites/christo...icas-highest-paid-ceos-are-insanely-overpaid/

http://www.cbsnews.com/8301-505125_162-28242185/should-ceos-sit-on-other-boards/

Thats a good read. Thanks.

 

[JerseyBoatBuilder]

May be off topic, but some of the J H Williams tools are now made in Taiwan...I wonder how long before you can't buy any USA Williams tools?

They have a cheaper import line and a U.s. Made line same as Snap on and blue point

Under 40 bucks for a U.S. made impact socket set if a good deal

 

[JerseyBoatBuilder]

quit whining. You guys sound like the endlessly useless "occupy" crowd. Work hard, do the best you can, let other people worry about them selves. Who cares what he makes? If you don't like it, don't buy the tools. That's it, that's all.








I don't think the American Dream was ever "borrow way more money than you can afford so you can have a bunch of stuff"

The guys that lost it spent money they didn't have and when the **** hit the fan, they got caught by their stupid decisions.

Then they cry, "poor me" and blame the guy who lent them the money. That is BS.

You are responsible for your own actions. No one forces you to buy stuff you can't afford. Time for men to start acting like men and take responsibility for the choices they (and no one else) make for themselves.

X3 At least some gets it

I could careless what a Snap on exec makes as long as they are making some good tools..
Even if they didnt I would move on and just buy else where simple as that

 

[bdamico]

I'm not going to argue one way or the other......I figure this guy (he writes for Forbes) knows something about this topic. I've posted about 1/3 of the article. There's a link at the bottom.....read the complete article if you want. Agree or not, I encourage everyone to read the article....

Why America's Highest Paid CEOs Are Insanely Overpaid


Besides being a matter of greed, and this is also a moral issue and a matter of fairness. Questions to examine: How did this freight train get so out of control and what actions can stop, no, knock this insidious train off its track and watch it burn?

None of the corporate chieftains Forbes has recognized can pull off these shareholder heists alone. They need complicity. First of all there is the board of directors which, if not handpicked, is then at a minimum approved by the CEO. A subset of this august group is the compensation committee. Once they’re sharpened their pencils and put new batteries in their calculators, then they call up the compensation consulting firm. These guys specialize in designing incentives, long-term this, short-term that, stock options, retirement, supplemental retirement, non-qualified whatever. Blah, blah, blah, all part of the charade that must be acted out. At sunset the consultants produce a leather bound (if it’s not it should be for what it cost) treatise to justify the injustice of preparing the great king for induction to the highest-paid list.

The compensation committee, armed with this divine opinion, is safe from scrutiny. The shameless consultants can just pull their data base of all the other overpaid CEOs as their backup. The composition of most all boards’ of directors of S&P 100 companies goes something like this: CEOs of other big companies, retired CEOs of other big companies, and other. This “other” category includes a lot of talented, highly educated and successful people whose success was likely in fields that don’t pay a lot of money. Retired college professors, museum directors, retired politicians are examples.

Being on the board of an S&P 100 company may pay from $250,000 to $400,000 per year in cash, plus health insurance, and at least one board retreat with spouses for maybe 10 or 15 meetings per year. Good work if you can get it. A lot of these people may serve on two, three or more boards. Serving on a board or two is the difference between a ho-hum retirement and being able to easily put your grandkids through college and being able to comfortably travel the globe. Do they have any incentive to make waves? I think not.

The other CEO and ex-CEO directors will be soundly in favor of giant pay because they too want giant pay and every overpaid CEO is a great comparable for the consultants to continue perpetrating this pernicious cycle. Any director that is not an employee of the company is considered an “outside director.” This is a joke. There are so many CEOs sitting on each other’s boards that the concept of the “board of directors” structure as a system of checks and balances to management behavior has become a joke. It is a corporate aristocracy more likened to a large incestuous family whose inbreeding has finally decomposed what was once a mechanism for sound corporate governance.

You can read the whole article here.......
http://www.forbes.com/sites/christo...icas-highest-paid-ceos-are-insanely-overpaid/

http://www.cbsnews.com/8301-505125_162-28242185/should-ceos-sit-on-other-boards/

That piece is harldy objective. There are exceptions to every rule but it's just not typical in public companies. More often than not a candidate is disqualified from serving on BOD due to conflict or perceived conflict as a result of a relationship with a competitor in same industry. It is true that networking is vital in this world and that people know each other (or know of each other) in these circles. And of course there is horse trading and inside deals. It happens everywhere in every industry--even at the blue collar level. The bigger driving force, however, is that there are multitudes of companies competing for the same talent and that drives up compensation. It's not limited to CEO's by any stretch of the imagination. Look at successful portfolio and hedge fund managers. They're comp can make this look like peanuts.

 

[mitusa]

That piece is harldy objective. There are exceptions to every rule but it's just not typical in public companies. More often than not a candidate is disqualified from serving on BOD due to conflict or perceived conflict as a result of a relationship with a competitor in same industry. It is true that networking is vital in this world and that people know each other (or know of each other) in these circles. And of course there is horse trading and inside deals. It happens everywhere in every industry--even at the blue collar level. The bigger driving force, however, is that there are multitudes of companies competing for the same talent and that drives up compensation. It's not limited to CEO's by any stretch of the imagination. Look at successful portfolio and hedge fund managers. They're comp can make this look like peanuts.

Reading back through the article....it's not written by the Forbes writer,(my bad), but by The following is a guest column by Richard B. Finger, a private investor with Ariadne Capital LLC, in Houston, Tex. But I don't think you can just dismiss it as "an exception to the rule". It happens all the time. I read another article that stated that over half of the ceos serve on one or more boards.

I guess you can believe what you want, you're free to do so.

 

[Wakefield]

Jack (John C. ?) Bogle who was associated with Wellington Management and the Vanguard Mutual Funds knows quite a lot about this stuff and I think devoted a chapter or two in one of his books. I think he has been a CEO of a company at one time. I think the article about the CEO's and members of "their" boards being highly intertwined is very accurate.
I hope Mr. Bogle is still around,he is quite up in years and I think one of the longest surviving heart transplant patients. I think the President would do well to listen to people like him and Paul Volcker.