Posts Tagged ‘CEO’

34c4beb6ac215d87da00633951ed4c9c

Special mention

rallt20170123_low 190625_600

Share this!

Posted: 28 June 2016 in Uncategorized
Tags: , , , , , ,

This slideshow requires JavaScript.

No, Uber is not a path to personal freedom and financial independence.

Far from it.

According to internal Uber calculations, provided to BuzzFeed News, based on data spanning more than a million rides and covering thousands of drivers in three major U.S. markets—Denver, Detroit, and Houston—drivers in each of the three markets overall earned less than an average of $13.25 an hour after expenses.

Uber says it doesn’t know how much drivers on its platform actually earn per hour, after expenses. Still, Uber’s internal pricing models, found in the spreadsheets provided to BuzzFeed News, do generate rough estimates of driver net pay. But in internal communications seen by BuzzFeed News, Uber explicitly discourages employees from comparing these estimates to the minimum wage.

A BuzzFeed News review of the rough internal net pay estimates contained in the leaked documents determined that the models Uber used are highly abstracted and oversimplify certain key calculations. Rather than relying on Uber’s figures, BuzzFeed News conducted an independent analysis of the raw trip data and driver data. Uber subsequently recalculated BuzzFeed’s estimates using a broader and more detailed set of internal data — which it declined to share directly with BuzzFeed News. The company did, however, conduct this recalculation according to BuzzFeed News’ methodology — which it said was “solid” — and did so in the presence of a BuzzFeed News editor and reporter.

Based on these calculations, it’s possible to estimate that Uber drivers in late 2015 earned approximately $13.17 per hour after expenses in the Denver market (which includes all of Colorado), $10.75 per hour after expenses in the Houston area, and $8.77 per hour after expenses in the Detroit market, less than any earnings figure previously released by the company.

What this means is that Uber drivers (at least in Denver, Houston, and Detroit) earn about the same as or less than the average for “taxi drivers and chauffeurs,” which in May 2015 (according to the Bureau of Labor Statistics) was $13 an hour.

And just so we understand how little drivers make—inside and outside the so-called sharing economy—the average hourly pay for production and nonsupervisory workers in May of last year was $20.99.

Or just compare that to the net worth of Travis Kalanick, the CEO of Uber Technologies: $6.2 billion.

Clearly, the only sharing going on in Uber is from the bottom up.

Chart of the day

Posted: 20 May 2016 in Uncategorized
Tags: , , ,

CEO-worker

The United States’ top 500 chief executive officers managed to capture 335 times the average worker’s wage last year, taking home $12.4 million on average, according to a new report by the AFL-CIO. That average CEO pay was a whopping 819 times the wage of a worker earning the federal minimum wage.

Here’s the list of the top 25 CEOs by pay—from Joe Kiani of Massimo Corp (at more than $199 million) to Jeff Immelt of GE (at just under $33 million):

CEOs

April 25, 2016

Special mention

holb_c14077820160428120100 Thank You For Yoiur Suggestion

Tom Toles Editorial Cartoon - tt_c_c150416.tif

Special mention

162775_600 162772_600

161018_600

Special mention

54fa07a3dacd7.image 161013_600

A recent paycheck for Delores Leonard shows her hourly wage of $8.25 for working at a McDonald's Restaurant, the minimum wage in Illinois, in Chicago

Delores Leonard lives with her two daughters in Chicago and has worked for seven years at McDonald’s.

Her Illinois minimum wage is $8.25 an hour. Assuming she works the same number of hours each week (and gets two weeks of unpaid vacation), her annual income after taxes is $14,626.

McDonald’s reported $7.2 billion in second quarter sales, which generated a net income of $1.39 billion. That’s a profit margin of 19.31 percent.

McDonald’s CEO Don Thompson took home total compensation of $9.5 million in 2013.