The author cited management guru Peter Drucker.
I remember Drucker noting that after CEO-to-worker pay ratios went above 25–1,especially during turbulent times, major moral questions started to be raised.
What’s striking is that the executives who are the most willing to ax workers also seem to be the least likely to tighten their own belts.
How much for the DEO of Washington Post?
What do the stockholders have to say about this? Are these CEOs worth the money, or not?
Look at Newsweek trying to puff up these two clods. The Dodd-Frank bill. BS. Dodd and Frank should both be behind bars right now. Although I'm sure Frank would prefer it.
and where is all the stimulas..we have people getting stimulas in our area working illegals...we have the plants in our area woking illegals...we got companies from out of town tearing up good sidewalk to pour new( using illegals)and ramps to nowhere. we got a city charging triple for to cover a filtration system they got grants to build. We have a forestry that turned of state land to a private company who is working illegals. And now we have out of state farming and nursery growers advertising here for workers(has to be for illegals) in a ranching area.I am not in a border state....I am in little Mexico, OKlahoma
As one of America’s CEO’s, I can testify that my pockets are not only not stuffed, but August was the one of the worst months in the companies history.
Newsweak is just mad that ANYONE is making money, since they obviously CANNOT.
While the MSM has a cow about CEOs of major billion dollar corporations making big bucks why is no one concerned about the mega million salaries paid to professional athletes or TV and movie stars? Shouldn’t the CEO of Microsoft or GE be compensated for the value they brings to their companies every but as much as say LeBrun James or Brett Farve? Is Oprah Whinfrey more deserving of all the money she makes than the CEO of a fortune 500 company? Why should Tom Cruise be paid millions for making a movie that bombs at the box office?
What the class warfare clowns at Progressive Fascists propaganda outlets like News-weak never tell you is the bulk of the CEO’s pay is stock options. When the company is doing well, and people are flocking to invest in them, they make their big money.
Really a sad and pathetic commentary on the US Education system when people, supposedly “Conservative” in political outlook, start buying into the Progressive Fascist's notion that a job is a birthright. That simply by being born, you are some how entitled to a good paying job no matter if the job your are doing is actually producing any value for anyone.
With Regulator approvals, financial corporations are dramatically overstating the value of assets (loans, debt instruments) on their balance sheets and are still not disclosing massive off-balance sheet liabilities.
As a result, they are way over reporting net income and are fraudently taking bonuses on those false earnings.
This will continue until an end comes to “extend and pretend” accounting. It is a mega scam that people deliberately ignore.
“the Institute for Policy Studies, a liberal think tank “
I think we’ve had enough stories about their ‘report’.
If people don’t like where they work, leave. To paraphrase Reagan, the only thing worse than not making enough money is the government stepping in to “help” you make more money. Think of the past and present economic crises...caused by gov. meddling.
I think we should calculate and publish the difference in income (not pay) between the members of congress and the lowest paid person in their state/district, then cut their pay accordingly. I don’t think a congressman should make more than ten times the income of their lowest paid constituent, do you?
I’d be happy with calculating wealth and doing the same thing... tax away Congressional wealth until they are only ten times the average wealth for their district.
Now THAT’S a proposal we can rally around.
If there was one thing I would do, is to get rid of interlocking directorates. That would go a long way towards solving this.
Huge problem with American business had been the trend to stack Boards of Directors with politically correct professors.
Most companies have their designated black board member (what is Vernon Jordan for?) and their designated woman board member and their designated hispanic board member.
These people are often professors, or corporate “rainmakers” who know virtually nothing about the industry.
And they are paid a ton more than they historically were paid. So they rubberstamp management.
This trend was to offset “insiders” on boards, who were execs of the company and knew the business.
The consequence of all this is the Chairman and the CEO are more powerful, ruling the board and all policies.
No wonder they get such big bucks.