Hello, I am a reporter with the Southern California News Group/Orange County Register. I am writing a story about high CEO pay. Molina's CEO Joseph Zubretsky earned $20.8 million last year. That's 450 times more than the median worker at Molina, one of the biggest ratios in the healthcare industry. I am looking to interview one or two recently laid off Molina workers who might have some comments on this. If you would be interested, please email me at [email protected] or call me at my office 714 796 2409. thank you very much. Margot Roosevelt
19 replies (most recent on top)
Guys- heads down working on Caid. It’s what I pay you to do. Stop your bickering and get to work. No, I won’t invite you to my condo this weekend to watch the race, and my VPs will not be giving out morning hugs- only pink slips
That loser makes valid points so you get a life and facts, double loser
Geez, get a life instead of writing a meaningless book blog...what a total
So I seea certain fired former SVP has nothing better to do than poat misleading details of our proxy. This someone is well-versed in how to find them and selectivly pull info from them without the context in order to make people, in this case JZ, look bad.this canned bad apple was also aware of Sarbanes-Oxley and Dood-Frank. While you can argue the board’s decision to pay the new CEO what they did and do so on the merits, you know damn well it inlcuded an incentive package to leave his former job and take this one. In addition, its not out of line for the CEO of the 150th largest company in the US. Again, not a defense of the amount but lets be intellectually honest about how its calculated. Probably the same person who called the OC Register. Get a life man, and a job. Trust me, if you hadn’t been canned, you’d be first in line to defend what you are now criticizing and trying to put your nose in the guys rear end like you did the Molina’s. And for the disallusioned and ignorant ranter who claims crooks are in charge and destroying the poor Molina’s legacy, they did that all on their own. And as for crooks, they walked away with roughly $43 million while 1,500 people got pink slips. Now, who are the crooks and the overpaid?
Not sure about that...only thing going down in the LBC is the Grand Prix this week
Caid concert dates tomorrow in LB featuring JZ. Pull your business casual wardrobe out of storage and leave the arangutang at home!
I was laid off at the end of 2017. Would love to comment about the crooks running Molina but I’m bound by the NDA. Good luck to all that are still there. John and Mario Molina will continue their fathers legacy while the crooks bring down what was a great company.
JZ's high pay ratio (450 to 1 based on the recent proxy disclosure to the SEC) is at least noteworthy, if not locally newsworthy in Southern California. Here's why: JZ is making 450 times more than the median Molina salary. Molina has been a significant employer for Long Beach, CA. A lot of Molina employees have been let go while the new CEO median pay ratio is being reported at higher than even the highest noted in this article by the Washington Post. I can see why the OC Register (or any local news) would want to write about this. The required disclosure of the median pay ratio is new (result of the Dodd-Frank Act). If the OC Register includes JZ in their article, it exposes CURRENT Molina leadership.
As companies reveal gigantic CEO-to-worker pay ratios, some worry how low-paid workers might take the news
A potentially embarrassing math calculation employers have long hoped to escape — one that pay experts thought was dead following President Trump's election — can no longer be avoided.
In recent weeks, a few public companies have begun disclosing a ratio, required for the first time this year, that compares the pay of their chief executive with the pay of their median employee. At industrial giant Honeywell, currently the largest company to disclose, the ratio was 333 to 1. At Teva Pharmaceuticals, the Israel-based generic pharmaceutical company, it's 302 to 1. And at the regional bank Umpqua Holdings, it's about 55 to 1.
As of Wednesday morning, companies had disclosed the figure for only about 20 CEOs, according to the research firm Proxy Insights. But with Corporate America's annual meeting season getting underway — the majority of public companies release their annual reports and proxy voting documents in the coming months — investors, the public and employees are about to get a much closer look at how their pay compares not only with that of their CEO but that of their peers.
Must be a slow news day in the OC. I’ll give you the inside scoop how JZ is discriminating against my emotional support pet orangutan. Some a-hole gets to bring his aardvark and another gets to bring his pet chicken but because everyone wants to pet my monkey I’m told no. That’s the real story at Molina not JZs comp.
Right.... JZ hahahaha
And not the pets they were talking about///// as in "favorites"
exactly, instead they are sitting around asking if they will keep their jobs, if they can bring Lassy to work, if the room temp can be set to 71.7, can I work 4 -10s, instead of putting their heads and getting back to Caid like I've asked them too. I'm signing the pay checks here- so if you don't like it- time to become a barista!
All your posts don’t matter, Molina is going up for sale. JZ is not going to lose any sleep with all your concerns. New company, new leadership, new vision, new future. Being optimistic will just make you look like a fool under these circumstances. WAKE UP AND SMELL THE COFFEE
Plus the annual shareholders meeting got moved to some swanky manhattan hotel not far from JZ's Park Avenue pad, instead of the Molina Center in Long Beach where it was last year. Now it's that much harder for ESPP participants to attend to ask questionsin person. So much for transparency at a public company. At least by going to Manhattan versus coming to Long Beach, the Board won't have to literally phone it in like they did last year when they were too nervous to go before employees and shareholders face-to-face at the annual meeting last May.
Regarding the healthcare provided by Molina, to it's employees.....I agree with the person who posted that it has gotten worse. The benefits changed at the first of the year. I'm sure for anyone who was let go and is paying for COBRA, this is likely pretty upsetting.
This is unrelated to the post, but I heard that they have removed all photos of C. David and Mary Molina in the Molina buildings and have changed the conference room names from those that honored the family. Does anyone know if that is correct?
Getting worse by the quarter for the employees. I have never had such poor healthcare since I worked here. I guess the found loop holes to pay his salary.
We were all shocked considering we were told we were in a savings period.
It’s unlikely any laid off employee would comment for fear of violating the NDA they had to sign when they got their severance check. Yes, the pay gap between the CEO and the average Molina worker is absurd... yes, it’s more absurd considering the rather unremarkable recent earnings, which were largely thanks to massive payroll reductions when thousands were laid off... yes, this pay gap exists despite significant contract renewal losses in Florida and New Mexico (with hundreds more employees to be laid off in both by years end)... but everyone is afraid of losing their severance via the unpredictable nature of the sadistic molina legal counsel who would make even Torquemada cringe.