Truck Load Rates Halt 8 Week Slide 2.0

My pay was in the top 1% out there. If he stuck around for the year end bonus he'd been close to ~$105K for the year.

What I'm offering now still beats anything I see out there. I'd like know who the top shelf companies are in the reefer world so I can mirror what they offer. Also making $90K in the east or west coast isn't the same as making $90K in the midwest.

 

I am more inclined to think that there isn't anything that special about those CEOs. Like they've possesed the wisdoms of the Universe.
They're fatest pigs lucky to be closest to the trough. Ivy league. Fraternities. Nepotism.
You can't blame them to take advantage of their position.
One can only wish that the market forces shifted their income onto those who do the real job. You see what I mean when you value yourself through the prism of what they make vs what you make. We'd like to think that what we do is not that insignificant.

 

Any large company that has gone public and trades on the stock market has a board of directors who are directly responsible for hiring and firing CEO's and other officers. If there is a highly paid CEO that isn't pulling his weight, it's the responsibility of the board to replace him. If the board doesn't take action, the stockholders can vote out the board of directors and replace them.

 

Ummm the CEO of JB Hunt didn't start the company neither did 99% of all of other Fortune 500 companies. Let's face it, most are managing assets/workforces that were acquired/purchased from previous C-suites. They aren't smarter than most of their workforce.

Question, should the CEO of Target and Wal-Mart be paid their millions this year for mis-managing their inventory so badly? Costco doesn't have inventory issues. Maybe Wal-Mart and Target would still be profitable no matter who is in the C-suite?

And just a few company CEO's worth $8M in salary:

AMD
UPS
COST

And any CEO that is also the founder....it's their company.

 

It is what it is.
Nobody is to tell them who will be their CEO and what his salary is going to be except they themselves. Maybe they think and they're right that it takes that special person with special abilities that are hard to find in other people. Someone can always say "go ahead and convince the board of directors to appoint you their CEO", and there isn't much you can answer to that.
I only would like to understand the phenomenon of the privilege vs the skillset. I think it must be a little bit of both.

 

Well DUH, most company founders die of old age and rarely stay on to run the companies that they founded for very long, especially when they become publicly traded. That's how big corporations work. The founder and their family holds a majority of the stock to remain in control, but they pay very smart people to run the company for them. What's your hang-up with CEO's making a ton of money? Try looking up the highest paid CEO's in the US. To get into just the top 100, your salary must have been at least 20 mil per year. So you don't think CEO's are any smarter than their workforce? If that were true, most companies wouldn't hire Ivy League educated businessmen and hire some middle management dude or a truck driver instead from within their own ranks to run the company. It happens, but very rarely. Companies grow when they acquire other companies, taking their customers, equipment and C-suites. That's just reality. Go start your own company and let us know how it worked out for you. I ran my family company for 30 years that was founded by my dad, and I sold my interest to my brother and decided I wanted to drive a truck after I retired from there. Now I'm retired from trucking and just enjoying life. I employed a couple hundred people in that 30 years and while they were all great workers, none of the knew how to run my company, and none of them would ever want to. There is a lot more to running a company than treating your employees well.

Regarding Target and Wal-Mart mis-managing inventory, in case you haven't noticed any company that relied heavily on China to stock their shelves is having some logistical problems. Costco wasn't as reliant on China and did much better from the consuer perspective. Most of the US was on hold for the better part of last year with ships by the hundreds lined up at ports waiting to unload. Should their CEO's not be paid so much because of what happened to the rest of the world? That's for their board of directors and stockholders to decide, not me or anybody else. Considering both Target and Walmart's stock prices have almost doubled in the last couple years, I'd say their CEO's aren't in any danger of losing their jobs right now.

 

I still truly think Steve that you would handle a JB Hunt CEO job all right. As long as you can play golf...you'd be all right.
I doubt that their smart level has to be that exceptional from what many other people represent with themselves. Being a graduate of Ivy league is surely prestigious but it is more about the certificate of being in the elites than knowledge and talent. I think that many graduates of the University of Phoenix could have better formal knowledge than someone who graduated from Yale. Surely, they can't hire a dude from the street but someone with some prodigy but I think that these are areas almost hermetically closed to people from "outside" their inner circle. Experience to handle this size of organization is most likely the biggest prerequisite.
I mean, my impression is that they are all the same chunks of meat stewing in the same pot.
and their knowledge derives from their being around in the environment, knowing people, having connections, doing favors, repaying favors, having seen things from close, almost like a mafia. A different world.

 

Thanks Joe, but there is no way I'm ruthless enough to run a Fortune 500 company or would I ever want to. I've always been more of a middle management type of person, and prefer having my hands in all aspects of the company and talking with my co-workers instead of having others do it for me. People who start companies that ultimately make them billionaires generally don't become CEO's or stay in that position for very long. Running all aspects of a company takes a certain discipline and prowess that is learned behavior generally in a prestigious business school or working closely with somebody who mentors them. As much as some people dislike those with Harvard or Yale educations and how much they earn, there is a reason they earn so much. It's the connections they make while there and after they graduate. Those connections lead to very lucrative job opportunities, or careers in politics. Many US presidents have come from the Ivy League. I have known 3 men who are currently billionaires in my life and worked for 2 of them. Their brains work on a level most of us can't even comprehend. One in particular named Marshal Reynolds from Huntington WV came from nothing. He has just a high school education and his dad was a truck driver hauling coal for the coal mines. He was a salesman at a printing company when my dad and he became best friends in the 60's, and he wound up buying the printing company, banks and many other businesses and today is worth around 8 billion. That's not something I have the fortitude to accomplish. Most men and women who have started companies that have made them billions have very little higher education. They just have a vision and the will to see it through. I'm perfectly happy with my level of success.

 

I’ve found that some guys just aren’t going to be happy no matter what. I ran an ad last week for $35/hr on avg 65 hrs per week and got 1 call. I’m not so sure you’ll be able to lower pay anytime soon.

 

You guys need to keep in mind with the economy the way it is, a lot of guys are not looking to jump ship and rock that boat right now.