In 2005, executive pay soared 21.9%.
By on Apr 10th, 2006 at 10:41 am
In 2005, executive pay soared 21.9%.
For all others inflation-adjusted income was unchanged. More details at MyDD.
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Neocon propaganda has been too effective in crushing unions over the last 20 years. No coincidence they have never been weaker. It’s not about global competition- it’s about greed.
I’ve stated this often about unions- Like them or not…they are a necessary part of the economic “checks and balances†system. A 21.9% increase in executive compensation is definitely out of balance.
April 10th, 2006 at 10:57 amThis book is an absolute most for an “ownership society”:
The Battle for the Soul of Capitalism . [TIA-CREF has sinced changed (CEO from Goldman Sachs) and raised their fees.]
Is 21% their total benefits or just their wages?
Does it include retirement or termination benefits?
What is the average tenure of an executive?
How executive compensation compare around the world?
Nell Minnow reviews executive compensation, benefits, and contracts.
It was a hoot what Dennis Kozlowski, former CEO of Tyco, and in prison, asked for, and the Board of Directors approved… including “conviction of a felony would not constitute grounds for termination.” Nell said the Board of Directors should have said, “Dennis, we’re sorry: Are you planning to knock over a bank? Is there something you want to tell us?” Instead, the board signed the contract.”
Just remember for the average worker, benefits are being cut, health care costs are soaring. And when we invest in the stock market, whether individuals stocks, mutual funds, or indexes, we take on the risk of the market. These executive compensation packages not only remove risk for the executives (transference of risk is the thing today), but their salaries and compensation ( whether it is cash, stock options, or beach house in Florida) affects the value of our investments.
April 10th, 2006 at 11:28 amWow, if my son’s wages were increased by 21.9%, he’d be making $6.28 per hour.
April 10th, 2006 at 12:21 pmInteresting article in today’s NYT also points out that…
…the supposed “independent” compensation consultants…
…have secret business ties to the corporate executives whose salaries and compensation packages they help form…
…American business is rotten to the core…
…and the little guys keep getting it (literally) in the a*s…
…but don’t tell that to the poor/middle/working class ‘conservative inbred Bushites who keep voting against their own economic self interests…
…against unions, Progressives and liberal politicians…
…their dumb a*ses (Bushites) would rather worship their gods’ “trickle down” economic theories…
…guess they’ve acquired a taste for pee…
April 10th, 2006 at 12:45 pmLET’s SWEEP CLEAN USA GOVERNMENT
How 2 Build a SLING 4 your BROOM at…
http://www.RogerART.com
Thank U, RogerART.com
Let Us Take 2 the STREETS
April 10th, 2006 at 1:31 pmLove that stat. And corporations have been faring so well lately, such profits (outside of oil)…
April 10th, 2006 at 9:11 pmtest
April 17th, 2006 at 7:41 pmCompensation Retirement
Your blog makes very interesting reading. I’m sure others will think so too I look forward to reading their comments.
March 21st, 2008 at 8:37 pm