Sean O'Brien versus Senator

He stretched the truth, there. But, he did make a valid point about Teamster executives not bringing crap to the table, given their wages.

Teamsters are all but gone from Spfld, IL. Yet, they built a new HQ building, several years ago, and the staff still drive nicer vehicles than I could ever afford. In many cases, their benefit definitely isn’t worth the dues/fees paid by the employee or the employers.

 

He was paid $50,000 a year in salary running his plumbing company, how much did he make in dividends? How much of his personal expenses were covered by the company?

 

Ehhhh. When youre building a company ground up, its not unreasonable, 50k is CURRENTLY the average household us income, and that was quite a few years ago.

By choosing to do that and reinvesting all the "extra" money into the buisness, I cant say that strikes me as unwise unfair or shady. And 50k is enough that if you live a modest life, that you have no need to have any personal expense paid by the company. 50 k is pretty much what i pay myself now (am an owner op) and it more than covers all my personal expenses

 

So no people have been selfmade millionaires? Its not possible to pay yourself a low or average wage to build your buisness till its strong enough to start supporting a lot larger salary?

What exactly do you mean by "he was lying"? I have no problem with beleiving he is a liar, he is after all a politician, but i want to know EXACTLY the contention being made.

I have a dim view of most unions, and he IS right, they frequently DO bully and harrass with mafia-like tactics. Unions where a the union management is being paid over double the average salary in that field is the kind of union i object to, if ceos are not to reasonably expect handsome compensation, being a non-productive manager of a union ought not expect a dime above the average wage of his membership rolls. THATS fairness

 

"Mullin took over his father's business, Mullin Plumbing, at age 20, when his father fell ill. He also owns Mullin Properties, Mullin Farms, and Mullin Services"

Born in 1977, that gave him 15 years to continue to build that buisness, and many other associated ones. In 2021, which is where you are citing, he reportedly sold the plumbing and plumbing adjacent buisnesses as well as selling his stake in a "cash management company"

Mullin's and Hern's net worth jump with sale of businesses

"The sale of businesses — his last remaining McDonald’s restaurants — also seem to be a factor in Hern’s apparent increase in wealth. His report says the restaurants, owned jointly with wife Tammy Hern, were sold for $25 million-$50 million on April 26, 2021."

So nothing here is as you presented, in fairness, nothong is quite as he said either. That notwithstanding, he could have been (mostly) truthful in his statement of:
""When I made my company? I kept my salary down at about $50,000 a year because I invested every penny into it," Mullin replied."**

**because he didnt start the buisness, his father did. Even if he moved it from a single individual to the 6 he says he started it with, thats a huge head start at age 20.

So even 10 years of that 50k to grow buisnesses is not unreasonable, that still leaves 5 years of even lets call it 300k a year without his being *much* of a liar.

 

Our CEO's salary is $850k, roughly. Yet his total compensation is $5 million. If he said "I only make $850k", I would call him a liar.

In this case, I'd bet that a lot of his PERSONAL expenses were being covered by the company. Cars, gas, cell phones, meals out, country club dues, etc can all be paid for with company money. I have no problem with his success, I have a problem with his political theater.