強欲と資本主義のアニマル性は違う。米国の強欲までも保護する投資家保護には欠陥があると思う。米国が自ら直せないのはバーニー・サンダースが言うように政治に問題があるのではなく、米国という国柄の歴史的形成経路に問題がある。こういう国はやがて滅びる。しかし資本主義は形を変えて生き残ってゆくだろう。なぜなら金融の効率すなわち投資効率が最大化する社会システムは今のところ資本主義しかないから。
“CEO compensation is going to be a focus area for U.S. politicians,” Jefferies noted, and highlighted 50 companies with the highest disclosed CEO-to-median-worker pay ratio for 2018 and 2019. Of those, 10 of them showed a crater-size difference, with the CEOs going home with 1,000 times the median worker or more in total compensation. The average, according to Jefferies is 250 times, but federal data from 2018 showed it was even more — 287 times.
Here they are:
Gap (GPS) - 3,566 times ($20 million total compensation)
Align Technology (ALGN) - 3,168 times ($41.8 million total compensation)
Aptiv (APTV) - 2,609 times ($14.1 million total compensation)
ManpowerGroup (MAN) - 2,508 times ($15.9 million total compensation)
McDonald’s (MCD) - 2,124 times ($15.9 million total compensation)
VF (VFC) - 1,767 times ($17.8 million total compensation)
Linde (LIN) - 1,629 times ($66.1 million total compensation)
TJX (TJX) - 1,596 times ($18.8 million total compensation)
Discovery A (DISCA) - 1,511 times ($129.5 million total compensation)
Walt Disney (DIS) - 1,424 times ($65.6 million total compensation)
Hanesbrands (HBI) - 1,392 times ($8.8 million total compensation)
Western Digital (WDC) - 1,279 times ($12.9 million total compensation)
Ross Stores (ROST) - 1,222 times ($12.2 million total compensation)
Yum! Brands (YUM) - 1,191 times ($14.0 million total compensation)
Norwegian Cruise (NCLH) - 1,124 times ($22.6 million total compensation)
T-Mobile US (TMUS) - 1,116 times ($66.5 million total compensation)
Walmart (WMT) - 1,076 times ($23.6 million total compensation)
Starbucks (SBUX) - 1,049 times ($13.4 million total compensation)
Coca-Cola (KO) - 1,016 times ($16.7 million total compensation)
Jefferies notes that companies with high CEO-to-median-employee pay ratio are “being viewed as promoting inequality.” Furthermore, companies that engage in a lot of stock buybacks, high leverage, and a low effective tax rate are also prime targets for politicians’ ire.
Many of the companies on this list are in the service or retail industries with a large portion of employees who earn wages far closer to the minimum wage, driving the median number down.
「潮目は変わった」、営業利益はみなくていい。この決算25億円の黒字に厚顔にも開き直ったソフトバンク孫正義は利益度外視などと怪気炎（調子がよすぎて、真実味がないように聞こえる、盛んな意気）と持ち上げられているが、投資効率を極限化するとファンド運営を中心とした資金回転の最大化になる。つまり最大限借り入れて最大限リターンを出すソフトバンクの孫正義の行動に理想化されるだろう。破産しようと大金投資を続けようと自由なんだから孫正義は勝手にどうぞとなる。
SoftBank has had a rough few months.
In November, the company revealed that the Vision Fund and one of its affiliates had taken a $9 billion hit as investments in WeWork, Uber (UBER), Slack (WORK) and other major startups soured.
In December, SoftBank abandoned its investment in dog walking company Wag, a $300 million bet that many had questioned in the first place.
And last month, India's top hotel company OYO — one of the biggest startups in the Vision Fund portfolio — said it was slashing jobs and warned that more layoffs could be on the way as it scrambles to turn a profit. The Vision Fund has pumped more than $600 million into OYO to date, according to Chris Lane, an analyst with Bernstein.
このようなアニマルスピリットが資本主義が他の社会システムに勝る。これは強欲ではなく活力なんだが、もしこの投資がある組織の市場独占のために最終的に買い取られる出口を持っているとしたら、成長機会の買い占めという強欲の中の強欲である。CEOの報酬が高いなどというかわいい話ではない。世界が独裁者の軍門に下るための、かつてロスチャイルドとイングランド銀行の関係のように英国が世界に君臨するための秘密（戦争と協定の盟約）に匹敵する平和的台頭という権力挑戦である。
