The U.S. Senate Budget Committee February 9, 2012 hearing on “Assessing Inequality, Mobility, and Opportunity” featured testimony from Institute for Policy Studies analyst Sarah Anderson. In her remarks, Anderson showcased how excessive corporate executive pay has turbocharged the gap between America ultra wealthy and everyone else.
Lawmakers make laws. They don’t enforce them. Corporate America understands that difference — and exploits it. The latest case in point: the battle over outrageous CEO pay.
One puts on football pageants. Another makes millions on a virtual farm. From Too Much, the Institute for Policy Studies inequality weekly, we present the year’s ten most avaricious. All ten remind us just how much needs to change, economically and politically, in 2012 and beyond.
Wall Street’s power suits aren’t humming along, this December, with all the holiday jingles. Bankers, traders, and law firm partners are quite frankly feeling kind of foul. End-of-year Wall Street bonuses, experts predict, are going to be down from 2010 levels — by as much, on average, as 35 percent. Total 2011 pay for the [...]
A blue-ribbon commission in the UK has just released a final report that demolishes all the major defenses that overpaid executives and their flacks, in the UK and the United States, have advanced to justify why executives today merit so much more than their counterparts a generation ago.
The MF Global Bankruptcy is bad news for MF Global’s employees, account holders, and creditors. Is it bad news for Jon Corzine?
Corporations seem to be cutting back on the CEO perks that most inflame public opinion against executive pay excess. But CEOs, even so, have little reason to complain. Corporate boards are offsetting the lost perk income, and then some, with higher salaries and bonuses.
Pundits and pols love to blast windfalls that go to corporate CEOs who ‘fail.’ But windfalls for CEOs who ‘perform,’ researchers suggest, ought to worry us far more.
CEOs Get Massive Rewards for Dodging Corporate Taxes As the Super Congress eyes trillions in budget cuts that will undermine the quality of life for most Americans, here’s a stunning fact to contemplate: Twenty-five hugely profitable U.S. companies paid their CEOs more last year than they paid Uncle Sam in taxes. In other words, the [...]
Corporate America, advises one of the nation’s most prestigious management consulting companies, needs to wake up and stop rewarding employee loyalty and performance. With one exception.