Nearly everyone is angry about excessive corporate executive pay these days, from laid-off autoworkers and foreclosed homeowners to former Federal Reserve Chairman Paul Volcker. At the seven biggest financial firms that have recently failed, been sold or been bailed out, top executives have received $464 million in “performance pay” since 2005. And these are the same people who helped create the… return to article
-
subscribe to print magazine
-
email this article to a friend
-
Reader Comments (2)Page 1 of 1 pagesMy father worked for United Airlines for 33 years. As the employee owned company was going under, the executives fully funded their own pensions and created provisions that would preserve executive pay during a bankruptcy. These items are a short list of what executives did to preserve their own behinds. Now, years later, my father still wonders how much his monthly retirement check will be. You see, it takes the PBGC a couple years to determine which each retired employee will get after their pension plan goes into default (turned over to the government). Either way, his loss is about $600 a month or $7200 a year. And he was no pilot with a huge bank account to rely on!
Executive pay is way out of control and out of proportion with what their workforce earns. This must stop!
Posted by Bill_W on Jul 4, 2009 at 12:21 AM And this problem is much more prominent in other developing countries such as India.
The gap is simply a few notches more than USA AFAIK.
Posted by Mark Mignet on Jul 12, 2009 at 3:31 PM Page 1 of 1 pages -
register a new account »Posting Security
Also by David Moberg
- Out of Control
Too big to regulate, the banks need to be broken up. - Labor’s New Leader
The AFL-CIO stakes its future on Richard Trumka. - The Retail Devolution
Two new books explore corporate evil. - Who’s Got the Power?
Progressives find themselves outmaneuvered on healthcare reform. - Not Your Parents’ Labor Movement
Why the Republic sit-in failed to inspire other worker actions. - Solidarity Reunited?
Unions rally around shrunken UNITE HERE as it takes on its former ally.
Popular Discussions
- The 9/11 Faith Movement
Many Americans believe 9/11 was a conspiracy by the U.S. government
1979 posts since Jul 11 06 - What’s the 411 on 9/11?
891 posts since Dec 21 05 - Democrats: It’s the War
659 posts since Nov 1 05 - Was the Presidential Election Stolen?
462 posts since Jun 19 06 - A Fundamental History Lesson
The rise of National Socialism proved politics and religion don't mix
427 posts since Oct 10 05
© 2009 In These Times | Reprint Policy | Privacy Policy | Powered by Expression Engine | RSS Feeds
