Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Dec 19 9:30 AM EST

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To: Cary Salsberg who wrote (4632)	12/26/2002 2:04:45 PM
From: Sam Citron	Read Replies (1) of 25522

OT Speaking of 2 year old themes, Cary, you have often railed about the ethics of obscene levels of CEO compensation to average employees in the USA. I think the ratio is now about 500:1. Have you ever considered the effect that this has on purchasing power and consumption? I would bet that the CEO has a higher marginal propensity to save and invest (mainly in the form of cheap stock options), and that the worker bee has a higher marginal propensity to consume. Who do these greedy and obscenely overpaid execs expect to have the discretionary purchasing power to buy the goods their companies are selling? Do they even CARE or do they just want to retire rich with their private fortunes? Also along these lines, consider the W. Virginia Lottery which has just effected the transfer of $315 million from numerous West Virginians into the pockets of one powerball winner and the state. abcnews.go.com Easier than collecting taxes but I have to question what effect that transfer has on consumption in the great state of W. Virginia. The winner will get 170M before tax and about 111M after tax. Cheers, Sam

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