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Old May 13th, 2017, 04:57 AM   #41
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my uncle became Tandy CEO and Radio Shack became a household name. Uncle Bill was an extremely wealthy man.
How did he become wealthy when "all the profits made by a company shared out equally by those who do the work and excluding managers"?
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Old May 13th, 2017, 05:06 AM   #42
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How did he become wealthy when "all the profits made by a company shared out equally by those who do the work and excluding managers"?


Not sure that I understand your question but I'll start with the obvious:

Uncle Bill received a percentage of a company's profits based on its quarterly or annual earnings, while also receiving stock options. ????
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Old May 13th, 2017, 06:08 AM   #43
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Not sure that I understand your question but I'll start with the obvious:

Uncle Bill received a percentage of a company's profits based on its quarterly or annual earnings, while also receiving stock options. ????
Yes that's obvious, I was just pointing out that it doesn't fit "all the profits made by a company shared out equally by those who do the work and excluding managers"? Obviously he wasn't excluded.
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Old May 13th, 2017, 07:17 AM   #44
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Yes that's obvious, I was just pointing out that it doesn't fit "all the profits made by a company shared out equally by those who do the work and excluding managers"? Obviously he wasn't excluded.


I am not well-read on profit sharing, but from what I have read there are a least a couple of ways to set up a profit sharing program. I have no idea what Tandy did and keep in mind this was decades ago. I'm sure regulation/process has changed.
The most popular plan sets aside a certain portion of profits for employee bonuses according to a formula and designates whether the percentage of profits is before-tax or after-tax. Other plans may set a goal/measure of predetermined profits. If that goal is met the profits are distributed, but they MAY be distributed by hierarchy.
So when you say "equally"?? That's determined by the type of profit sharing in place. My uncle was a college grad so I'm sure he didn't start at the bottom (in the '50s) but you are correct. He was not excluded.
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Old May 13th, 2017, 08:23 AM   #45
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I am not well-read on profit sharing, but from what I have read there are a least a couple of ways to set up a profit sharing program. I have no idea what Tandy did and keep in mind this was decades ago. I'm sure regulation/process has changed.
The most popular plan sets aside a certain portion of profits for employee bonuses according to a formula and designates whether the percentage of profits is before-tax or after-tax. Other plans may set a goal/measure of predetermined profits. If that goal is met the profits are distributed, but they MAY be distributed by hierarchy.
So when you say "equally"?? That's determined by the type of profit sharing in place. My uncle was a college grad so I'm sure he didn't start at the bottom (in the '50s) but you are correct. He was not excluded.
I don't have any problem with companies being run that way as long as they have some way of dealing with the non-performers, thieves and other deadbeats. If you keep sending them profits regardless of whether or not (or how) they perform, then pretty soon nobody wants to perform.
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Old May 13th, 2017, 09:40 AM   #46
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Fair pay is, initially, all the profits made by a company shared out equally by those who do the work and excluding managers. Later it will be 'to each according to his/her need'.

These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who's the banana republic now?

https://www.sanders.senate.gov/newsr...reaten-america

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Old May 13th, 2017, 10:43 AM   #47
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There ARE very successful business models that utilize your exact statement. Costco comes to mind. Southwest. Google. Ebay. Facebook. Trader Joes. Apple. Microsoft....to name a few.

My uncle started with Tandy Corp decades ago when Tandy was an up-start. Charles Tandy didn't have the profits to pay out in cash so he offered employees Tandy stock. Decades later my uncle became Tandy CEO and Radio Shack became a household name. Uncle Bill was an extremely wealthy man.
Have you ever actually tried to get service at Costco, ask a question or "help" finding something? It is like pulling teeth.
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Old May 13th, 2017, 10:54 AM   #48
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I'm not against that, but most people aren't decent and will sit back and let the decent carry the load. It's human nature. There has to be incentives to work and that incentive is to keep what you earn and trade freely with others.
That was what happened in Soviet Russia. The ambition of many of the driven/creative people was squashed and large % of the society drank themselves to death.
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Old May 13th, 2017, 07:21 PM   #49
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Decent, normal, democratic people are going to do the necessary work - three or four hours a day - to see everyone has enough. You against that? Why?
What about the person who wants to do 8-12 hours of work per day? Dont you feel they should receive a higher reward?
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Old May 13th, 2017, 07:23 PM   #50
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There ARE very successful business models that utilize your exact statement. Costco comes to mind. Southwest. Google. Ebay. Facebook. Trader Joes. Apple. Microsoft....to name a few.

My uncle started with Tandy Corp decades ago when Tandy was an up-start. Charles Tandy didn't have the profits to pay out in cash so he offered employees Tandy stock. Decades later my uncle became Tandy CEO and Radio Shack became a household name. Uncle Bill was an extremely wealthy man.
But that was a choice to model a business in that way. Do you favor mandating all business be that way? Would you really suggest stealing through legislated fiat to do that? Do you believe that a person who wants to work harder and longer than should receive the same as the other person? Why did you fail to address "to each according their need" comment?
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