The price of gasoline - plus other general economic impacts - as it pertains to the upcoming election

[Jon]

More than 1 million oil workers are set to lose their jobs this year, a new analysis reveals

A new analysis reveals that more than 1 million oilfield service jobs are likely to be cut in 2020 as the novel coronavirus craters demand for oil.

www.businessinsider.com

ouch

 

[TexasBama]

Because we have to make sure the executives are motivated

Debt-stricken Chesapeake Energy to advance incentive executive pay

Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile.

www.reuters.com

 

[Padreruf]

Because we have to make sure the executives are motivated

Debt-stricken Chesapeake Energy to advance incentive executive pay

Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile.

www.reuters.com

I have truly seen it all...taken the public's money and lavish it on the wealthy. Where are our ethics?

 

[uafanataum]

Because we have to make sure the executives are motivated

Debt-stricken Chesapeake Energy to advance incentive executive pay

Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile.

www.reuters.com

I wonder if companies that spend alot of money on bonuses to their average workers as opposed to executives are more succesful? Executives make very important decisions so they need to be motivated but your average workers are on the front line actually doing the things that make your company money.

 

[chanson78]

I wonder if companies that spend alot of money on bonuses to their average workers as opposed to executives are more succesful? Executives make very important decisions so they need to be motivated but your average workers are on the front line actually doing the things that make your company money.

How about paying CEO's a wage that doesn't let them get to the point where they won't be motivated. This is the dumbest thing I have ever heard. (Not you uafanataum, I know you are just repeating what reason was given in this article)

If they weren't paying the CEO's FU money, then they wouldn't need give them bonuses of FU money to keep them interested. I go to work and am motivated to do a good job because I want to keep my job. Ive met plenty of CEO's who are dumber than a box of rocks. About the only thing that I have noticed as a commonality between most CEO's that I have met is that they are willing to take risks and seem to be in the right place at the right time.

Maybe that's what's really being rewarded, and since its happening in capitalistic society, it must be correct. Otherwise our lord and savior the invisible hand wouldn't allow it to go on.

 

[uafanataum]

How about paying CEO's a wage that doesn't let them get to the point where they won't be motivated. This is the dumbest thing I have ever heard. (Not you uafanataum, I know you are just repeating what reason was given in this article)

If they weren't paying the CEO's FU money, then they wouldn't need give them bonuses of FU money to keep them interested. I go to work and am motivated to do a good job because I want to keep my job. Ive met plenty of CEO's who are dumber than a box of rocks. About the only thing that I have noticed as a commonality between most CEO's that I have met is that they are willing to take risks and seem to be in the right place at the right time.

Maybe that's what's really being rewarded, and since its happening in capitalistic society, it must be correct. Otherwise our lord and savior the invisible hand wouldn't allow it to go on.

While some companies are over compensating their corporate officers in spite of poor performance, many are not. There are a lot of companies that have significantly cut compensation to corporate officers during this pandemic. Even though it is not theit fault that their company will make significantly less money than last year they are still not receiving bonuses. Some of these same companies are actually providing extra benefits for their Frontline workers. A quick Google search will give you a few websites that are compiling lists of these companies. My question was more about if there is any data suggesting that these types of companies that are cutting benefits to their CEOs at the same time they are providing extra benefits to Frontline workers will see more benefit than those that seem to focus compensation for CEOs only.

 

[B1GTide]

While some companies are over compensating their corporate officers in spite of poor performance, many are not. There are a lot of companies that have significantly cut compensation to corporate officers during this pandemic. Even though it is not theit fault that their company will make significantly less money than last year they are still not receiving bonuses. Some of these same companies are actually providing extra benefits for their Frontline workers. A quick Google search will give you a few websites that are compiling lists of these companies. My question was more about if there is any data suggesting that these types of companies that are cutting benefits to their CEOs at the same time they are providing extra benefits to Frontline workers will see more benefit than those that seem to focus compensation for CEOs only.

Yep - The company that I work for has already let everyone know that this year we would be getting no bonuses (except for commission bonuses for sales folks who have it as part of their pay formula). Executives and management are stepping up in a big way to help avoid layoffs where I work. So far, so good. But this crisis is far from over.

 

[Bamabuzzard]

Yep - The company that I work for has already let everyone know that this year we would be getting no bonuses (except for commission bonuses for sales folks who have it as part of their pay formula). Executives and management are stepping up in a big way to help avoid layoffs where I work. So far, so good. But this crisis is far from over.

Yep, one of my wife's friends works as COO for a sizable local company. The owner took an immediate 80% pay cut to ensure front line workers kept their jobs during this time. Not all company executives and company owners are bad.

 

[TexasBama]

J.C. Penney files for Chapter 11 bankruptcy, plans some permanent store closings

J.C. Penney, reeling from a one-two punch of the department store industry’s struggles and the coronavirus pandemic, filed for Chapter 11 bankruptcy.

www.usatoday.com

 

[Bazza]

U.S. May retail sales surge 17.7% in the biggest monthly jump ever

Retail sales alone powered 16.8% higher from a month earlier, more than double the estimate of 8% from Dow Jones and reversing a 16.4% plunge from the previous month. Clothing and accessories stores reported the biggest percentage gain at 188% while sporting goods, hobby, musical instruments and book stores rose 88.2%.

The government numbers, released an hour before the start of stock trading, added to an upbeat mood on Wall Street, with Dow rising more than 900 points in the premarket. By late morning, stocks were up more than 500 points.

CNBC:
https://www.cnbc.com/2020/06/16/us-retail-sales-may-2020.html

 

[TIDE-HSV]

To re-ground this thread - it started from your premise that people cared not much about fundamentals of the economy, so long as their cost to fill their tanks remained cheap. That has proven totally false by events. Given that, I'm closing this thread. Feel free to start a new one more on the topic of how covid has affected the economy, which is more of interest...