Lets see 400,000,000 divided by 10,000 engineers and conducters who make 80,000.00 a year. How is he worth more then 2,000 locomotives?
Articles on Google describe the CSX and Harrison in more detail.
AC locomotives are in the ballpark of $2M - so you are talking 200 locomotives for $400M
Another round of massive furloughs, selling off of equipment and pocketing the money, denying valid claims of those left working. Should be getting close to that total.
They’re getting it from people like YOU who don’t have a real good grasp of how math works[:-,]…or spelling or grammar for that matter.[:-^]
I thought they (CSX) could just raise their rates, pocket 400 million pizoozas and fork 'em over to Ole E. Hunter. Simple!
Your worth is whatever someone else is willing to pay for you. So your average NHL hockey player is “worth more” than Stephen Hawking, the world’s most renowned cosmologist and mathematician. EHH is worth a few thousand locomotive engineers… it is what it is. No point in trying to make sense of it.
According to the AP, Harrison’s salary at CSX will be $2.2 million for the initial period, which presumably is his first year at the CSX helm. If he meets his performance objectives, he could be in for a $2.8 million bonus.
In addition to salary and bonus, Harrison will get 9 million shares of CSX stock options. Half of them will be tied to performance goals; the other half will vest over time. If he meets the shareholder’s performance expectations, the stock options could be worth a lot of money; if he fails to meet the shareholder’s expectations, the options could be out of the money, which is finance speak for saying that they would be worthless.
CSX has also tentatively agreed to reimburse Harrison for the $84 million that he left on the CP table, although the AP said that this arrangement is subject to shareholder approval.
In 2016 CSX generated cash from operations of slightly more than $3.0 billion; it had $643 million of free cash flow at the end of the year. In addition, at the end of the year, it had Cash and Cash Equivalents of a bit more than $1.0 billion. It has enough cash to pay Harrison’s compensation package.
Whether he is worth the amount of reported compensation is another issue.
My college roommate was from Toronto. We roomed together the entire time we were at university. Many people were surprised to learn that we stayed together for four years. And we remained friends until he died a few years ago.
Like you he took the world for what it is; he did not get worked-up about things that he could not change. I learned a lot from him.
Stephen Hawking dosen’t pack a stadium full, all over the country, 3 or 4 times a week, month after month, for years, along with huge TV audiences that generate tens of thousands of jobs.
He is a rare intellect but he was not Stephen Jobs and bring us the I-everything, which again created tens of thousands of jobs and a whole economy.
There is every reason to make sense of it. Your statement is not valid.
Real hero’s are ER doctors and nurses, many policeman/woman, some educators, military, and many just blue collar guys and gals that build and fix things and in the process looking after their families.
For most of my working days I have witnessed Miners at the end of shift, coming up from underground and heading to the dry to shower and change…those guys do more in a morning than a person that showers before they go to work do in a week. Many make around $200K annually and they earn every penny. You try drilling with a jackleg or stoper for hours before and after lunch. Day in and day out.
If a person is capable of managing tens and tens of billions without screwing up then they are worth a small piece of the action. If however you are nothing more than a corporate raider and are in the crony capitalism camp then I’m with the torches and pitchforks crowd.
Miningman you are spot on. There are NO management ‘persons’ that are worth tens of millions of dollars, NONE. I’ve been one of the upper level management ‘people’ for 40 years and watched compensation spiral out of control to obsurd levels. Kind of watching Piranha feed. Once you stack the board with very high income members, you get a self serving monopolistic lock on compensation. EHH is not WORTH this but gets it because boards do not include members from the general share holder population. What might a company do for it share holders with a major management and board compensation cut. Not looking to and employees nor increase pay ‘just because’, but what growth might they get do getting realistic about the executive and board cookie jar. Miningman, my daughter is an ER Doc, and she is well compensated. There are times she comes home in tears because she lost. Like the 34 year old that came in complaining about shortness of breath and no energy. She worked for over an hour trying to find the answer. She turned to go to another room and he ‘coded’ and died, there was noting she do to save him, she the same age. How does an executive of a publicly traded company EVER deserve more the the Doctors and Nurses that will try to save that exec. someday. Sorry about the rant, it kind of hits close to home. Mine is a privately owned company and I’ve done ok, but the execs of public corps. offends me greatly.
We’ve been asking the same question about paramedics - getting paid pennies more than the counter clerk who sells them the lunch they may not be able to finish…
If hard work were directly proportional to compensation the highest paid among us would be crushing rock for a living. But that’s not how it works… and how hard one works has very little to do with what one earns because what one gets to keep is based on how the market (i.e. society) values what you contribute. That’s why a concert violinist makes less than a boxer… and why EHH makes thousands times more than you or I . YOU may not think anyone is worth that, but he is not holding a gun to anyone’s head… his new employer feels he is worth that…We should have become CEOs or hockey players…
That’s kinda what I said… society values popularity and “stuff” more than it does profound thought and discovery. That’s why the guys at Snapchat are billionaires while the men and women who are working on a cure for cancer are making an average wage. I’m not judging, just pointing it out… Charlie Sheen is rich because people want to see farting and burping on TV… they don’t want to spend 30 minutes watching a show about how a rocket works… Like I said… it is what it is… EHH and his peers get paid
Ulrich- Good good !
News item regarding Stephen Hawkins just today —he stated that the only way we can save ourselves from self destruction, because of the upcoming robotics advancements, was for all the countries to unite in a world government.
Ohhhkayyyy…thats very realistic. I’m sure North Korea, China, Yemen, and numerous tin pot dictator kingdoms and fiefdoms just can’t wait for the big group hug.
As Yogi Berra said " Predictions are difficult…especially about the future".
-40 here last night, huge storm and drifts 2 days ago. Big frozen solid mess now. Wish I was in Guelph for a respite and we can grab a Starbucks or a Timmies and go hang around 6167 for a while and shoot the breeze.
I guess that’s just Hawking’s way of saying there’s no hope for us… he could have blandly stated “no hope” but his way is a little more interesting… i.e. if we can all come together… agreed will never happen…
MiningMan,’
I thought that quote was from Niels Bohr, Nobel Physicist.
Mr. 2-8-2 …Could be, at least originally, the guy did live in the quantum physics world.
But…did he say. “Pair up in three’s” or “no one goes there nowadays, it’s too crowded” or. “The future ain’t what it used to be”
Say, your last name wouldn’t be Hudson would it? How cool would that be…got to be a railfan out there somewhere named Mike Hudson.
If CSX engineers and conductors are only making 80k a year, I suggest they find a different railroad to work for. That’s VERY low.
I don’t know how much a CSX engineer or conductor makes, but here is some data from the U.S. Bureau of Labor Statistics that is instructive for the overall picture.
In 2015 – latest data - there were 37,490 locomotive engineers in the United States. They ranged from rookies to veterans, from large railroads to small railroads, from engineers on long haul freight trains to those on commuter and tourist trains.
The median wage for a locomotive engineer in the United States in 2015 was $56,240. Wages ranged from $40,490 at the bottom of the scale – 10th percentile – to $82,310 at the top of the scale – 90th percentile. In addition to their wages most locomotives engineers have a package of health and welfare benefits that can add another 30 to 40 percent of benefit value onto their wages.
Wages vary by state, region, type of operation, etc. For example, the mean – slightly different than the median – wage in Houston was $43,870 compared to a mean wage of $75,680 in the Washington, D.C. area. The differences r