I was reading this and they link to an interesting article about Apple and how unequal the revenue the company brings in is shared. Apple serves as a stand-in for what has happened at most of America’s largest companies. Employees are more productive then ever yet are getting a smaller slice of the profits than ever. This is one of the reason the recovery has been so fragile. The people who would buy goods to create demand – thus create jobs – do not have the money to spend. And no, the economy cannot run on the sale of luxury items to millionaires. Apple’s Retail Army, Long on Loyalty but Short on Pay. Apple is not immune to bad publicity and paying your sales crew a dollar over the federal standard for poverty is not good for the company image. So they did start giving many sales people some raises ( The Gap’s hourly wages really suck compared to Apple. Besides the headaches of dealing with the public on a daily basis, probably one of the reasons their employee turnover is so high.) Some interesting numbers from the Apple article – They divided revenue by total number of Apple store employees (sales staff, non-sales staff like technicians and people stocking shelves) and they brought in $473,000 per employee. The average annual earners for an Apple store employee was about $25k per year. Let’s assume that everyone got a raise similar to the employee mentioned in the article, to $36k per year. That means the company pays employees about 7.6% of the revenue those employees generate. Most Apple employees have college degrees. The average student loan debt for graduates in 2010 was just shy of $26k. Apple chief executive Tim Cook received stock grants, which vest over a 10-year period, at today’s share prices that would be about $570 million. If we take Tim’s stock grants and divide by 10 that would mean – not including any other compensation, just in stock grants – he will receive about $57 million a year. That means – using the Apple employee $36k as an average – Tim is taking home about the equivalent of 1,583 employees. Tim has an MBA from Duke. I wouldn’t trust him do the calculations for a rocket launch, perform brain surgery or write the great American novel, but he probably bright enough. Do his skills equal the skills of 1,583 other bright people. Does he do the work of that many people. How is productivity, intellectual contributions and just plain old hard work being valued here. It it possible that someone could be found just as bright and capable as Tim who could and would do the same work for say $250k per year. With the savings Apple could pay regular employees more – offer commissions, bring a third of its manufacturing back to the U.S. – and cut the cost of its products to consumers as well – a..and still reward shareholders. I know a brilliant mathematician that would probably make Tim look like a well trained dog in terms of pure intellectual gifts – he makes about $48k per year.
marilyn monroe lounging 1955. this was original Kodak film balanced for daylight shots. It may have been among the first generation of Kodak photos done in the photographer’s lab since the previous year Kodak lost the right to monopolize it’s chemical film developing process.
Just because the picture looks artsy doesn’t mean you are. I get it. We all went through our creative, experimental stages. There is a period in all of our lives where we think we can probably make money off our pseudo-artistic talent of choice. And now, you think you are a photographer because Instagram does the work for you. Do you have to focus anything? Do you have to worry about lighting? Do you have to think at all? Not really. You are part of a fast growing legion of people that have been duped into believing they are visionaries, auteurs, even.
And it goes on for a few more paragraphs.
sepia tattoo. color and texture done in Photoshop.
When James A. Garfield was attacked on July 2, 1881, the nation was shocked, enraged, and captivated. President for just four months, Garfield was shot by Charles Guiteau as he was about to board a train at the Baltimore & Potomac Railroad Station in Washington, D.C. Severely wounded, Garfield lingered until September 19.
2012. 89,000 Children in Pennsylvania Lose Medicaid. That will teach you kids to mess with conservatives.
In Praise of Downtime – Americans work more hours than any other group in the Western world.
E-Mails Suggest Paterno Role in Silence on Sandusky. For those who have not heard Paterno or some other evolved in the chain of knowledge about Sanduskey – they said they did not want to pursue a criminal solution because that would not be the “humane” thing to do for poor old Jerry. What about the humane thing for the victims, future victims and their families.
Romney Caught in Two More Big Lies – When He Left Bain and His Ownership of Medical Waste Company. Romney recently insisted that the WaPo story reporting his outsourcing was wrong and wanted a retraction. If presidential candidates get points for puffed up bluffing, Mittens is ahead.
The Verve – Rather Be