Hoenig calls CEO 2nd Hander and Peter Keating.

Posted by $ rockymountainpirate 8 years, 11 months ago to Business
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This is from Saturday's Cashin' In. There is another post about this CEO, but Hoenig's description is perfect.


*** I know nothing about the site I grabbed this from. I was just looking for the video.
SOURCE URL: http://crooksandliars.com/cltv/2015/04/cashin-crew-attacks-ceo-who-upped


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  • Posted by $ DLCarr17 8 years, 11 months ago
    I only wish that when Jess (I think that was her name) says "problem with inequality in this country" someone would have pointed out that we DO NOT have an inequality problem. The problem is unskilled workers feeling entitled to and demanding a wage that they haven't earned and aren't worth.
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    • Posted by $ KSilver3 8 years, 11 months ago
      +1,000,000 Exactly. We have a skill problem, not an income problem. People with necessary skills have opportunities. People with Ancient Sanskrit Lesbian Literature Degrees from UCAL Berkeley don't do so well.
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    • Posted by Zenphamy 8 years, 11 months ago
      Oh, but that just points to social inequality and educational inequality and glass ceilings and black ceilings and opportunity inequality and nutritional inequality and medical inequality and transportation inequality and age inequality and on and on and on. All of our human brethren are equal and deserve their 'share of the pie'.
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    • Posted by $ puzzlelady 8 years, 11 months ago
      And how do you determine what they are worth? Here's a quick quiz question for you: Who is the most valuable worker in a beach resort restaurant on Memorial Day weekend?
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      • Posted by johnpe1 8 years, 11 months ago
        the cook! -- j

        p.s. or the door guard who keeps the trouble people out.

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        • Posted by $ puzzlelady 8 years, 11 months ago
          Not quite. The most valuable is the busboy who clears tables so the 43 people standing in line to be seated can sit down and order. The faster they are served, the more business for the restaurant, the more income per hour, the more tips for the waitresses. The second most important is the dishwasher. Without clean dishes, people can't be served. Running a restaurant is a team effort, a well-oiled machine; yet the busboys only get the lowest wage plus a share of the waitresses' tips. I would pay my busboys by the number of tables cleared, not by the hour. (Yes, I was a busboy for a Memorial Day weekend in Ocean City, MD, one year. It was a philosophical object lesson for the manager.)
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          • Posted by CircuitGuy 8 years, 11 months ago
            "I would pay my busboys by the number of tables cleared, not by the hour."
            Paying them based on waitresses' tips is questionable too because you want to pay them for things they control. If they find away to clear tables in some amazing way so that they're not the bottleneck anymore and they make high earnings, that's fine. The goal is to make money.

            BTW, this reminds me of the book The Goal. It's a business book written like a drama. The manager is trying to get rid of bottlenecks but he realizes the *goal* is to make money, not reduce bottlenecks.
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          • Posted by $ DLCarr17 8 years, 11 months ago
            All jobs are important or they wouldn't exist. The busboy may be important to the machine but the low skill level required to perform the job makes the job worth relatively little on a pay scale. You wouldn't pay your best busboy as much as your manager due to the vast difference in skill and education required. If you owned a restaurant of your own, it would be perfectly acceptable for you to pay your busboy as much as every other employee in your establishment if that's what you chose to do. If you did I'd be willing to bet you'd have all the busboys you could ever want. A good manager would probably be much harder for you to find. I'm in no way belittling the his job. If he wants to be paid a better wage he should increase the skills he has to offer, not demand that everyone should be paid the same (or a "living wage").
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            • Posted by $ puzzlelady 8 years, 11 months ago
              Spend three days as a busboy in a superbusy restaurant and then come back and tell me how little skill it took. It's logistics, public relations, and backbreaking work.
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              • Posted by johnpe1 8 years, 11 months ago
                and it's "thankless" -- you feel like you're taken for
                granted, cuz no one expresses gratitude for a great
                job done. . except management, if they're good. -- j

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                • Posted by $ puzzlelady 8 years, 11 months ago
                  Exactly, taken for granted and looked down on as the lowliest rung. Yet some are college students with high IQs and interesting philosophies. By the way, didn't Galt in AS have a menial job in the railroad tunnels? Didn't Roard work in a quarry?
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                  • Posted by johnpe1 8 years, 11 months ago
                    you bet! . the "lowly" carry us along every day, and
                    we should be damn glad of it!! -- j

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                    • Posted by $ puzzlelady 8 years, 11 months ago
                      The slave owners thought so, as did the kings and rulers of old. Aristocrats and peasants, knaves and nobles. It's a hard habit to break. Domination is hardwired. "Nor ask another to live for mine" is a hard concept to splice in.
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                      • Posted by johnpe1 8 years, 11 months ago
                        yet when I am that "another" and I volunteer to live,
                        in part, for you, it can become a reasonable value
                        exchange, yes? . we just don't ask. -- j

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                        • Posted by $ puzzlelady 8 years, 11 months ago
                          Only if it's voluntary on both sides. I would not knowingly accept you to live for me without a quid pro quo (not necessarily measured in money). For example, buy my games because you want them, not because I need the sale. (See the marketplace. :) )
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                          • Posted by johnpe1 8 years, 11 months ago
                            Yes! . voting with my time, my mental effort, my few
                            bucks, my loyalty -- that's the way I see it! . if nothing
                            but purely voluntary action were the rule in my life,
                            I would be a happier guy!!! -- j

                            p.s. do you have word puzzles, like the diagonal
                            words in a field of letters puzzles? . my wife likes
                            those, and others.

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                            • Posted by $ puzzlelady 8 years, 11 months ago
                              Sorry, no, I don't have word puzzles (what you describe sounds like those Word Search puzzles). Mine are colorful geometric tilings that look like art, sort of like M. C. Escher. Have a look in my Marketplace listing (click the green Market basket in front of my name). Thanks.

                              I'm a happy person because I don't let myself be coerced into anything. A dear friend of mine of great creativity once wrote a song that goes like this: "I don't want to, you can't make me." Suits me.
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  • Posted by Clairity 8 years, 11 months ago
    Sweet this CEO did more to rattle them than even Andrew Breitbart. Imagine paying your employees well, the nerve of him. God bless you sir.
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  • Posted by BeenThere 8 years, 11 months ago
    "......most Americans feel there is wage inequality.."

    This is stated as an absolute............feelings trump thinking..............I fear far too many of our fellow citizens intermix these two..............who knows from which their beliefs originate? And if one calls them on it, then one receives a barrage of their actual feelings........all negative!

    Once again, the problem is irrational (or total absence of) philosophy.........feelings are not tools of cognition!!!!!

    P.S. Did like Hoenig's comments...........I hope more than we are aware of understood.
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    • Posted by $ winterwind 8 years, 11 months ago
      and what really makes me crazy about "feelings trump thinking" is that you can't be argued out of something you weren't argued into; conversely, if you just FEEL it, no one will ever be able to pry that feeling out of you.
      grrrrr
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  • Posted by Herb7734 8 years, 11 months ago
    He's an idiot.
    There is no way based on their gross sales that he can make a profit once all overhead is added to his wage output. It simply means that for a moments worth of attention he is willing to sacrifice the future.
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    • Posted by $ puzzlelady 8 years, 11 months ago
      The consensus is that it's his company, he can do as he likes. He may be figuring that his generously paid workers will be grateful and more enthusiastic and hence will make him more money so he can cover the additional expenses. He also has less taxable income if he pays out more in wages.

      On the other hand, if his people get complacent because their pay is not in proportion with their productivity, and they get all that money no matter how lazy they are, the plan will backfire. On the third hand, they won't want to go work for anyone else with a big cut in pay, and Price will have his loyal, well-trained, hard-working staff. Time will tell.

      In the meantime, he is reinforcing the wrong memes: the belief that people should be paid more, that their pay need not be based on merit, and that rich people don't deserve their money.

      A more logical approach would have been to make all his workers shareholders, giving them so many shares a year or as bonuses. Then they'd be motivated rationally to make the company more profitable and thus increase their own wealth.

      And mind you, he had already pulled in millions and could manage on less.He can always give himself raises later. How IS his merit measured?
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