Wow, that's a lot of socialist mumbo jumbo lumped into one post. You might want to pick up an ecomonics book at some point in your life. A great one is 'Basic Economics' by Thomas Sowell.
First, the BOD represents the interest of the shareholders, so they speak and act on their behalf. As far as boards being stacked by flunkies, you'll have to elaborate. Give me some examples of boards made up of flunkies, and explain why the individuals on those boards are flunkies in your eyes. In almost all circumstances, they are very successful and ethical people.
Second, the employees have just as much chance to prove their merit as the CEO, it's just through different channels. The employee needs to impress their manager, who is responsible for maintaining a quality product by the VP, who reports to the CEO, who ultimately is judged by the board.
Third, greed is a meaningless word when used in terms of economics. Is it "greedy" that you require $30/hr to compensate for your skills even though you don't have any children, while a less skilled person with 5 kids can only get paid $20/hr for his skills? If you had the skills to be able to make $1M per year, would you choose not to so as to not seem "greedy". Believe it or not, there's not some lottery where CEO's get drawn out of a hat and get paid millions to just look pretty. Those that achieve that level of success have worked hard and are extremely smart and talented people that rose to the top. I guess it's easy to assume they don't earn their salary, but the free market (the combined opinion of millions of competing interests) knows a lot more than one person's opinion.
Fourth, prior to unions, there were factories in America. Enough said.
Lastly, the middle class is stronger now than it has ever been, and unions have been declining for years, so the current strength of the middle class has little to do with unions. The unbridled independent spirit to create and prosper by the individual is what made America the strongest nation on earth, not unions. Unions sucked from the teet of that prosperity for the previous couple generations, and continue to do so today in the governement sector.
What way do you propose would be a "fair and equitable" way of paying employees (who's performance the company's very existence depends)?
Leave it to a CEO like "Chainsaw Al", remember him. His answer to profits (as has been for most American CEO's), cut employee pay and benefits so we can show a profit. (he ended up in jail, and ridiculed)
Greed is when you have CEOs whom feel they are worth $10.00 just because the other airline CEOs are making that, even tho HIS company has faltered, and lost money. Greed is when you reward an individual after his company goes bankrupt under his watch. Greed is when CEOs think they can make a company run regardless of it's employee's treament as long as he gets his millions. All of these examples are indicative of failed companies with "ethical board members"(who've clearly FAILED in their independent fiduciary duty)
You are correct, there were factories, SLAVE labor camps where people were locked inside and paid poverty wages.
I don't remember Germany or Japan being classified as socialist. Your way of thinking appears to be "reward the CEO for the labor of the employees, and screw the fairness of the employees. Few CEOs would make a penny if their pay was tied to performance of product and employee. Without a good employee...you will eventually not need a CEO, cause there will be no company.
Why is it that the most successful nations on earth, U.S., Germany, Japan, England, France, Italy, all prospered and dominated the world as nations with UNIONIZED work forces.
Unions have been declining because of the very behavior that you see with the NWA Flight Attendants, anti-Union, government interference during negotiations. This attack started with Reagan and the air traffic controllers and has continued unabated.
But...dear friend, the Unions will prevail. In fact membership is increasing for the first time in decades.
So, show us the light and tell us your formula.
