Sunoco: "Screw you peons, I want more money"

[Spexvet]

What an idea there Robin Hood. To be fair though, why not a 40% cut evenly across the board. Oh, that's right, those who make money should support those that don't. Go to work at Ben and Jerry's if you like that compensation program, I believe they used it.


To me that's not to be respected, its just plain stupid. I wouldn't work for a buck a year, would you?

Why are you so filled with hate and anger?

[obxeyeguy]

I wouldn't work for a buck a year, would you?

You didn't answer my question, would you??

Why are you so filled with hate and anger?

You don't know anything about me, don't speculate.

[Spexvet]

...To me that's not to be respected, its just plain stupid. I wouldn't work for a buck a year, would you?

Sure. It's the honorable thing to do. I guess that's why you wouldn't - or are you just too selfish and greedy? These guys have been getting rich while business was good and the market was increasing. I'm sure they can survive on previous earnings or scale back alittle in their lifestyle. You know - trade in the Ferrari for a Buick. ...

You didn't answer my question, would you??

Can you see it now?

Why are you so filled with hate and anger?

You don't know anything about me, don't speculate.

Let me rephrase:

Why are your posts so filled with hate and anger? No speculation.

[Spexvet]

From this it sounds like you despise anyone who makes more money than you do. ...

You don't know anything about me, don't speculate. :D:D:p

[Spexvet]

Hey Spexvet,

You might be able to back up your "peons" thesis by digging out whatever data is publicly available on compensation of Sunoco's top level executive officers. Are their compensation packages going up at the same time as the workers are being laid off? And how much? Are their compensation packages grossly out of line with their counterparts at Chevron, Exxon, etc.?

They're being paid to make hard decisions, such as deciding that part of the workforce needs to be reduced.

Just a couple of thoughts that came to the top of my head this morning.

From Here.
John G Drosdick

Total Compensation
$46.19 mil (#15)

5-Year Compensation Total
$93.52 mil

John G Drosdick has been CEO of Sunoco (SUN) for 6 years. Mr. Drosdick has been with the company for 10 years .The 62 year old executive ranks 2 within Oil & Gas Operations

Education
College: Villanova BS '65
Graduate School: University of Massachusetts MSCE '68

[rinselberg]

http://www.philly.com/philly/busines.../41200512.html

This (above) is the most detailed report that I've seen on these Sunoco layoffs.

Everyone who offers an opinion should know at least as much as what has been reported (above) in the Philadelphia Inquirer.

[gemstone]

The more the gov meddles in business, the worse it gets. They have already ran so much manufacturing overseas. Now it seem they will attempt to run the corporate offices away.

[rbaker]

Pennsylvania Gov. Ed Rendell is calling on Sunoco officials to rescind their plan to cut 750 jobs.
Rendell says it's "unconscionable" for the oil company to be laying off workers when it made $776 million in profit last year. He made his argument in a letter sent Thursday to Sunoco's board of directors and later released publicly.

First of all, it is none of the governors business what Sunoco pays it's employees. Secondly, its none of our business unless we are stock holders. No one likes to see a business lay off employees but it is sometimes a necessary decision. Hopefully, these employees will be rehired when the financial position of Sunoco improves.

That's the way capitalism works. Over its history Sunoco has provided thousands of good paying jobs to thousands of employees. Now that it must make some cutbacks it will be criticized by the socialists in our society that have probably never created a single job in their lifetime.

[obxeyeguy]

If you, your spouse, your child, parent, or sibling were laid off, I guess you'd just shrug your shoulders and say "well, I guess that's capitalism for ya".

So, spexit, who exactly in your family got canned from sun oil? You seem to have so much anger towards them.:bbg:

The 62 year old executive ranks 2 within Oil & Gas Operations

Obviously, he's avis, just trying to be number one. Isn't that what we all do? Maybe not you of course, but most working Americans? We try to get ahead, on our own, without a free ride from the government. We all had a hand in the game, and we all played it differently. Get over it, or change it, but stop the "its not fair cr#p!" Move on...


Ps. Argueing on the internet is like winning a race...Oh, never mind, I'm sure you heard that one before....

[Spexvet]

... No one likes to see a business lay off employees but it is sometimes a necessary decision.Hopefully, these employees will be rehired when the financial position of Sunoco improves....

But a better decision would be to reduce executive salaries and can increase them when the financial position of Sunoco improves, though I'm skeptical that it's really that bad now.

So, spexit, who exactly in your family got canned from sun oil? You seem to have so much anger towards them.:bbg:

obnoxiouseyeguy, none of my family has. You see, I'm principled and compassionate. I don't need to be directly affected to know that something is wrong and needs to be changed. People like you, of course, only get interested when bad things happen to them. I think that's called being self-absorbed, or self-centered.

...We try to get ahead, on our own, without a free ride from the government....

Who is talking about a free ride from the government? The only way that comes into it is that the people being laid off will get unemployment compensation. See, Sunoco has privatized its past profits and will now socialize its losses.

Get over it, or change it, but stop the "its not fair cr#p!" Move on...

The beginning of change is to acknowledge that there's a problem. If nobody ever said "having separate 'colored' drinking fountains is not fair", African Americans would still be riding in the back of the bus. Oh, you're from below the Mason-Dixon line, so I guess that's just fine with you, right?

[Johns]

Who is talking about a free ride from the government? The only way that comes into it is that the people being laid off will get unemployment compensation. See, Sunoco has privatized its past profits and will now socialize its losses.

News Alert to anyone that's never operated a business:

Unemployment benefits are NOT provided by the government! The employer pays into a fund that the unemployed person draws out of. For every claim, the rates go up and up.

Sunoco is paying the unemployment, not the government. Not to mention that many of those that are leaving volunteered to do so, and many had generous buy out offers.

[Spexvet]

News Alert to anyone that's never operated a business:

Unemployment benefits are NOT provided by the government! The employer pays into a fund that the unemployed person draws out of. For every claim, the rates go up and up.
...

Flash, this just in: It's not that clear cut:

From Here.

The basic unemployment insurance program is run by the states, although it is overseen by the U.S. Department of Labor. States provide most of the funding, and pay for the actual benefits provided to workers; the federal government pays only for the administrative costs to the states of running the program. Although subject to a few federal requirements, states are generally able to set their own eligibility criteria and benefit levels.

The unemployment insurance system is funded by taxes paid by employers on behalf of their employees. Most of these taxes are collected by state governments, but some are collected by the federal government. While both the federal and state taxes are technically paid by employers (although in a few states, the employee pays part of the state tax), economists generally regard the tax as falling on employees. The theory behind this is that the dollars employers use to pay the tax are part of overall compensation costs, and would otherwise have gone into employees’ paychecks.

[Johns]

How much more clear cut could it be??!!:hammer::hammer:

The first sentence of your quote sums it up. (Did you r-e-a-d it?):hammer:

[Spexvet]

How much more clear cut could it be??!!:hammer::hammer:

The first sentence of your quote sums it up. (Did you r-e-a-d it?):hammer:

My mistake. It is clear cut.:hammer::hammer::hammer::hammer::hammer::hammer::hammer:

economists generally regard the tax as falling on employees

[Johns]

The unemployment insurance system is funded by taxes paid by employers on behalf of their employees. Most of these taxes are collected by state governments, but some are collected by the federal government. While both the federal and state taxes are technically paid by employers...


What's to not understand?

The "general regard" of economist, is not the law. Instead of sending in my unemployment taxes, should I just tell them that "economist generally think I don't pay this"?

The new (white house) economists also generally regard welfare recipients as taxpayers.

[GAgal]

The beginning of change is to acknowledge that there's a problem. If nobody ever said "having separate 'colored' drinking fountains is not fair", African Americans would still be riding in the back of the bus. Oh, you're from below the Mason-Dixon line, so I guess that's just fine with you, right?

So, how is that not an inflammatory, prejudical comment about southerners? Obxeyeguy, nor any other person on this thread, said anything racist and I am highly insulted by your comment. I think you owe me and every other southerner on optiboard an apology.

[Johns]

So, how is that not an inflammatory, prejudical comment about southerners?

Hey Gal, get used to it. It's only inflammatory or prejudicial if you say it about them (spexvet's type). Besides, when they run out of ammo for their arguments, they usually turn personal.

Get used to it.:cheers:

[Spexvet]

The unemployment insurance system is funded by taxes paid by employers on behalf of their employees. Most of these taxes are collected by state governments, but some are collected by the federal government. While both the federal and state taxes are technically paid by employers...


What's to not understand?

The "general regard" of economist, is not the law. Instead of sending in my unemployment taxes, should I just tell them that "economist generally think I don't pay this"?

The new (white house) economists also generally regard welfare recipients as taxpayers.

So now you know more people who study the economy. :hammer:

[Spexvet]

Hey Gal, get used to it. It's only inflammatory or prejudicial if you say it about them (spexvet's type). Besides, when they run out of ammo for their arguments, they usually turn personal.

Get used to it.:cheers:

Then I guess you ran out of ammo in your very first post in this thread!;):p

And this quote takes the cake for the "Spoken Like Someone That's Totally Clueless Award": "Wasn't the philanthropy merely marketing, paid for by the lost salaries of the laid off workers? Now that makes A LOT of sense! ...

[rinselberg]

... The beginning of change is to acknowledge that there's a problem. If nobody ever said "having separate 'colored' drinking fountains is not fair", African Americans would still be riding in the back of the bus. Oh, you're from below the Mason-Dixon line, so I guess that's just fine with you, right?

:hammer::hammer::hammer: