The key issue to Texas citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.
Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of Texas Companies were rewarded with in the past five to ten years. And I'll start with the large Texas Non-Oil & Gas Companies.
The sixth Texas Non-Oil & Gas Company I am addressing here is the very well-run Sysco Corp.
From annual compensation information contained in Company Proxy Statement filings with the SEC, the chart at the bottom below shows Sysco Corp's Top-Tier Executives Annual Total Compensation for each of two consecutive substantially full years of employment for the past ten years.
Sysco Corp's Top-Tier Executives Average Pay Raise was a blistering 22.6% per year for the past ten years, which is the very highest of the 6 largest Texas Non-Oil & Gas Companies I have addressed so far.
- Sysco +22.6% per year for the past ten years
- AT&T +13.8% per year for the past ten years
- Waste Management +13.2% per year for the past ten years
- Texas Instruments +7.2% per year for the past ten years
- Crown Castle International +6.3% per year for the past ten years
- Kimberly-Clark +5.8% per year for the past ten years
The only highly effective US Government law enacted by either party in the past decade that has substantially reduced income inequality expansion is Obamacare and the political right is continually trying to repeal and replace it and three of the top four Democratic Presidential candidates now leading in the polls are effectively running as their principal issue to do in essence precisely the same thing ..... repeal and replace Obamacare ..... but to do it with either a pure or a version of Medicare For All.
The pure Medicare For All advocated by both Bernie Sanders and Elizabeth Warren and which was co-sponsored in a US Senate bill by Kamala Harris is off-the-charts enormously expensive and would take up an enormous amount of wasted time with no positive result since it has no chance of getting passed legislatively. The US Government CBO hasn't been able to score the cost of a pure version of Medicare For All so far because the proposals have not been nearly specific enough. If and when they are specific enough, the CBO scoring will make people shake in their boots and wonder just how any Presidential candidate could propose something so fiscally preposterous. Just given their near-sighted stance on a pure version of Medicare For All, if the Democratic nominee is any of the three of them, it will be extremely difficult for any of them to beat Trump in the general election. It is that simple.
On the other hand, if Elizabeth Warren got more rational and wisely altered her position some on Medicare For All, she would have a very good chance to beat Trump.
The pure Medicare For All advocated by both Bernie Sanders and Elizabeth Warren and which was co-sponsored in a US Senate bill by Kamala Harris is off-the-charts enormously expensive and would take up an enormous amount of wasted time with no positive result since it has no chance of getting passed legislatively. The US Government CBO hasn't been able to score the cost of a pure version of Medicare For All so far because the proposals have not been nearly specific enough. If and when they are specific enough, the CBO scoring will make people shake in their boots and wonder just how any Presidential candidate could propose something so fiscally preposterous. Just given their near-sighted stance on a pure version of Medicare For All, if the Democratic nominee is any of the three of them, it will be extremely difficult for any of them to beat Trump in the general election. It is that simple.
On the other hand, if Elizabeth Warren got more rational and wisely altered her position some on Medicare For All, she would have a very good chance to beat Trump.
My objective is to get a better handle on just why the US and particularly here Texas has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages for the executives of a Company vs the many non-executive employees of a Company, coupled with the stock price appreciation subsequent to the time the company executives were rewarded in their pay with stock equity compensation.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.
To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed, simple but effective Fair Pay Raise Income Inequality Narrowing Company tax incentives for rewarding non-executive employees with fair pay increases ..... the carrot ..... and Company tax disincentives for rewarding executive employees with clearly excessively high pay increases ..... the stick. I am certain ..... it is simple math ..... that this tax proposal would be very effective in substantially reducing the huge income inequality expansion that has occurred for decades in annual percentage pay raises between company executives and the rest of the company employees.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.
Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | ||||||
| June | June | June | June | June | June | June | June | June | June | ||||||
| Sysco Corp | 2019 | 2018 | 2018 | 2017 | 2017 | 2016 | 2016 | 2015 | 2015 | 2014 | |||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | |||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | |||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | ||||||
| Thomas Bene CEO | 10,733 | 8,775 | 8,775 | 5,824 | 5,824 | 5,412 | 5,412 | 3,231 | 3,231 | 2,619 | |||||
| William DeLaney Former CEO | 15,216 | 15,100 | 15,100 | 14,080 | 14,080 | 9,328 | 9,328 | 7,815 | |||||||
| Joel Grade CFO | 3,940 | 4,770 | 4,770 | 4,179 | 4,179 | 4,115 | N/A | N/A | |||||||
| Greg Bertrand EVP | 4,084 | 3,390 | |||||||||||||
| Russell Libby EVP Admin | 3,739 | 4,019 | 4,019 | 3,908 | 3,908 | 3,562 | 3,562 | 2,433 | N/A | N/A | |||||
| Wayne Shurts Chief Technology Officer | 3,923 | 4,309 | 4,309 | 4,218 | 4,218 | 4,058 | 4,058 | 2,738 | 2,738 | 2,400 | |||||
| Robert Kreidler Former EVP CFO | N/A | N/A | 3,566 | 3,251 | |||||||||||
| Michael Green President Foodservice | |||||||||||||||
| Manuel Fernandez Former Executive Chair | |||||||||||||||
| Totals | 26,419 | 25,263 | 37,089 | 33,229 | 33,229 | 31,227 | 27,112 | 17,730 | 18,863 | 16,085 | |||||
| Annual % Change vs Prior Year | 4.6% | 11.6% | 6.4% | 52.9% | 17.3% | ||||||||||
| 5 Year Average Per Year % Change | 18.6% | ||||||||||||||
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | ||||||
| June | June | June | June | June | June | June | June | June | June | ||||||
| Sysco Corp | 2014 | 2013 | 2013 | 2012 | 2012 | 2011 | 2011 | 2010 | 2010 | 2009 | |||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | |||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | |||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | ||||||
| William DeLaney Former CEO | 7,815 | 10,886 | 10,886 | 8,422 | 8,422 | 5,726 | 5,726 | 5,934 | 5,934 | 3,802 | |||||
| Wayne Shurts Chief Technology Officer | N/A | N/A | N/A | N/A | |||||||||||
| Robert Kreidler Former EVP CFO | 3,251 | 4,194 | 4,194 | 2,541 | 2,541 | 2,627 | 2,627 | 2,643 | N/A | N/A | |||||
| Michael Green President Foodservice | 3,911 | 3,048 | 3,048 | 4,163 | 4,163 | 2,696 | 2,696 | 3,500 | 3,500 | 1,402 | |||||
| Manuel Fernandez Former Executive Chair | N/A | N/A | N/A | N/A | |||||||||||
| James Hope Former EVP | 1,990 | 2,803 | 2,803 | 2,108 | N/A | N/A | |||||||||
| Larry Pulliam EVP Group President | 4,557 | 3,131 | 3,131 | 4,312 | 4,312 | 1,709 | |||||||||
| Stephen Smith Former EVP | 3,392 | 1,291 | |||||||||||||
| Kenneth Spitler Former President | 9,987 | 4,470 | |||||||||||||
| Totals | 14,977 | 18,128 | 20,118 | 17,929 | 22,486 | 16,288 | 14,180 | 16,389 | 27,125 | 12,674 | |||||
| Annual % Change vs Prior Year | -17.4% | 12.2% | 38.1% | -13.5% | 114.0% | ||||||||||
| 5 Year Average Per Year % Change | 26.7% | ||||||||||||||
| 10 Year Average Per Year % Change | 22.6% |
