Caterpillar is as associated with middle-American values and hard work as any American company. But what it's doing in the boardroom gives a window into the rotten corporate mindset that is exacerbating inequality.
Worker strikes, weak sales, and threats to the company's business model lead McDonald's to oust former CEO Don Thompson in January. Now they're going to pay him another $3 million to stay on as a consultant.
A pair of new in-depth studies find hard evidence that corporate consultants are a fig leaf for higher CEO pay and that CEOs have rigged the rules to make sure they get perpetual raises regardless of how well or poorly the company does.