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Old 04-21-2019, 08:00 PM   #1
Boundin'
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Default Abigail Disney Says Disney CEO Bob Iger’s ‘Insane’ Salary Has a ‘Corrosive Effect on

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Abigail Disney Says Disney CEO Bob Iger’s ‘Insane’ Salary Has a ‘Corrosive Effect on Society’
He makes 1,424 times more than the median Disney employee.

Michael Nordine

6 hours ago

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Abigail Disney
Abigail Disney at the 2018 Women’s Media Awards

Amy Sussman/Variety/REX/Shutterstock

Disney CEO Bob Iger made $65.6 million last year, or 1,424 times that of the median Mouse House employee. If that strikes you as a bit much, you aren’t alone: Abigail Disney, granddaughter of Disney co-founder Roy Disney, believes that Iger’s salary is not only “insane” but is part of a larger problem that has a “corrosive effect on society.”

“Let me very clear. I like Bob Iger. I do NOT speak for my family but only for myself. Other than owning shares (not that many) I have no more say in what happens there than anyone else. But by any objective measure a pay ratio over a thousand is insane,” she wrote in the first of many tweets about executive compensation.

“To brush aside criticism of the low wage you pay workers at the company by saying you pay more than the Federal Minimum Wage and that you provide opportunities for education is a dodge,” Disney continued.



“We all know the Federal Minimum is too low to live on. So why must we, at a company that’s more profitable than it’s ever been, be paying anything so close to least the law allows at all??? Pointing out the incongruity of pay at the top and pay at the bottom provokes a reaction because it so violates of our innate sense of fairness it is impossible not to wince.”

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It isn’t the first time Disney has spoken out about this sort of thing. She has previously said that CEOs are overpaid and the wealthy — including herself — should be taxed at a higher rate.

“What on earth would be wrong with shifting some of the profits—the fruits of these employees‘ labor— to some folks other than those at the top?” she asked. “I’m not saying iger doesn’t deserve a bonus. He most certainly does. He is brilliant and has led the company brilliantly.”

For her final point, Disney argued that “anyone who contributes to the success of a profitable company and who works full time to do so should not go hungry, should not ration insulin, and should not have to sleep in a car.” Read her full Twitter thread here.
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Old 04-21-2019, 08:25 PM   #2
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Let's face it - when they release Igor's bonus' it is a negative - it just makes me less likely to purchase souvs, etc. but I'm still buying the AP so = moot point?? I really don't understand why such information is pushed out.
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Old 04-21-2019, 08:36 PM   #3
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The Disney family have had sour grapes about all of this for quite some time. That they don't understand (or, more likely, do understand but figure that the American public won't so they can rail about it) the way executive compensation works is certainly amusing. With what Iger has done for Disney valuation, he has earned every penny. And Abigail likely knows this as well.

Cheers.
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Old 04-21-2019, 09:00 PM   #4
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Interesting. Wonder if she ever worked in the company? She’s 58, so when she was a young adult, teen, perhaps?
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Old 04-21-2019, 09:06 PM   #5
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Quote:
Originally Posted by poster44 View Post
Interesting. Wonder if she ever worked in the company? She’s 58, so when she was a young adult, teen, perhaps?
Likely not. Probably been rich all her life because of Walt doing the same thing she's wining about and has not clue.

Cheers.
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Old 04-21-2019, 10:05 PM   #6
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Not just Disney.

IMO, you would be hard pressed to find any corporate executive whose salary isn't outrageously more than its average employee. Sadly, it's unlikely to change anytime soon.
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Old 04-21-2019, 10:14 PM   #7
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Quote:
Originally Posted by brp View Post
Likely not. Probably been rich all her life because of Walt doing the same thing she's wining about and has not clue.

Cheers.
Just saw she’s worth half a billion, so that’s probably true.
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Old 04-22-2019, 03:47 AM   #8
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I agree with the points Abigail Disney made in the speech that was the impetus for this thread.

Quote:
Originally Posted by Carol View Post
Not just Disney.

IMO, you would be hard pressed to find any corporate executive whose salary isn't outrageously more than its average employee. Sadly, it's unlikely to change anytime soon.


I have to agree. Corporate executive salaries are insanely high. No matter how good a CEO or CFO is, IMHO they are not worth the obscene salaries they are paid. The money DOES NOT trickle down. The rich get richer and the working class gets poorer.

Abigail Disney is the daughter of Roy E Disney. She is aware of her family's wealth and privilege; she is a philanthropist, a documentarian and an advocate for social welfare. This is NOT the first time she has spoken out about wage inequality. She has a very strong social conscience, evidenced here:

https://www.thecut.com/2019/03/abiga...ver-spend.html

She made a very informative video after the new tax plan was passed:

https://www.youtube.com/watch?v=PXS9MVoIA4E

So also wrote & directed the Emmy Award winning documentary, The Armor of Light:

https://www.armoroflightfilm.com

You can read more about Abigail Disney, her education and her accomplishments, here:

https://en.wikipedia.org/wiki/Abigail_Disney
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Old 04-22-2019, 06:36 AM   #9
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Quote:
Originally Posted by Carol View Post
Not just Disney.

IMO, you would be hard pressed to find any corporate executive whose salary isn't outrageously more than its average employee. Sadly, it's unlikely to change anytime soon.
A CEO is a unique role in that he/she works directly for the owners of the business (via the board of directors). Consequently, compensation is not and should not be comparable.

Let's say a person owned and ran a small business that generated $100,000 of returns each year. If that owner could hire someone that promises to increase that return to $1,000,000 per year, how much of that million would that owner be willing to pay their CEO? Scale that up to billions, and now how much is that CEO worth?

I wonder if those who rail against CEO compensation have the same opinions about other "outrageous" compensation comparisons: and actor vs. a grip, an athlete vs. an equipment manager, Oprah vs. an assistant producer?
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Old 04-22-2019, 08:37 AM   #10
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Nobody's gone too far - so jumping in with a reminder before it happens:

We do not have a politics thread, so discussion here needs to be kept very narrowly to the topic at hand: Bob Iger, Abigail Disney, Disney compensation, Disney compared to other companies, all about Disney, etc.

If this starts to get out of hand, it will be shut down, and there may be digital blood splatters in doing so.

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