Monday, September 2, 2013

COLLECTIVE CAPITALISM

THE PROOF IS IN THE PUDDING!
Johann Wagener 9-2-13

Who would have thought that a Chinese company CEO would take the lead in demonstrating how capitalism works when practiced fairly and equitably.


Lenovo Chief Yang Shares Bonus With Workers a Second Year

Yang was paid $14.6 million last year, including a bonus of $4.23 million and long-term incentive awards of $8.94 million, according to the company’s annual report. Yang holds about 744 million shares of Lenovo, or 7.1 percent of the company’s outstanding stock, as of the end of March, the report said.
Dell, HP

Meg Whitman, CEO of Hewlett-Packard, received nearly $15.4 million in fiscal 2012 after the company posted a net loss for the year. Michael Dell, CEO of Dell Inc. (DELL), was paid $13.9 million in the year ended Feb. 1 when the company posted lower sales and earnings and itsshare price declined.

Lenovo had more than 35,000 employees globally at the end of March. Employees who received the bonus from Yang were mostly those in manufacturing paid on an hourly basis, who are not eligible for other bonus programs or sales commission, Shafer said.

Maybe this will become the rule rather than the exception; though I doubt I'll live to see it. 

Other executives to share their bonus include Oleg Deripaska of the world’s largest aluminum producer United Co. Rusal (486), who gave his $3 million bonus for 2012 to 120 employees, UPI reported in July. Simon Wolfson of Next Plc (NXT), the U.K. clothing retailer, awarded his bonus of about $3.7 million to 19,400 staff, the Telegraph reported in April.