<div>Chasuk et. al.</div>
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<div>I put the word "profit" in quotes to indicate that it might be defined various ways. But defining profit correctly or not was not the main point of my post. </div>
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<div>The main point was the expansion of CEO compensation to kingly or queenly levels, sometimes guaranteed even when the CEO performs so poorly that, if they were a worker toward the bottom of the corporate totem pole, they would be fired with mostly a "good luck" for compensation. And to question the ramifications of why this sort of incredible expansion of compensation is occurring at the executive level, when wages for workers at the bottom are stagnating.
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<div>I discussed this trend, and how to explain it, given that it so violates one basic principle of capitalism, when capitalism works as it should, that usually hard work and success is monetarily rewarded by the system, while failure is not, with a very worldly and well educated friend, who announced that the incredible financial compensation now handed out to upper level executives at major corporations, is "hush money."
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<div>What do you think?</div>
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<div><a href="http://www.epinet.org/content.cfm/webfeatures_snapshots_20060627"><font color="#800080">http://www.epinet.org/content.cfm/webfeatures_snapshots_20060627</font></a><br> </div>
<div><a href="http://money.cnn.com/magazines/fortune/fortune_archive/2006/07/10/8380799/index.htm"><font color="#800080">http://money.cnn.com/magazines/fortune/fortune_archive/2006/07/10/8380799/index.htm</font></a><br>
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<div>Ted Moffett</div>
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<div><span class="gmail_quote">On 9/25/06, <b class="gmail_sendername">Chasuk</b> <<a href="mailto:chasuk@gmail.com">chasuk@gmail.com</a>> wrote:</span>
<blockquote class="gmail_quote" style="PADDING-LEFT: 1ex; MARGIN: 0px 0px 0px 0.8ex; BORDER-LEFT: #ccc 1px solid">On 9/25/06, Ted Moffett <<a href="mailto:starbliss@gmail.com">starbliss@gmail.com</a>> wrote:<br><br>
> I immediately thought of the Moscow Food CO-OP for a local "business" that<br>> does not make "profit" that provides jobs, benefits, and a humble salary for<br>> management, that benefits the community in many ways, and works to continue
<br>> success, seemingly without the motivation for those involved to get "rich"<br>> by USA standards.<br><br>You got it right, Ted. Profit is indeed defined as the excess of<br>income over expenses. Those expenses include salaries. At least,
<br>that is the accountant's definition. The economist gives you a<br>different definition.<br><br>I love the CO-OP, though I can rarely afford to shop there.<br></blockquote></div><br>