CEO's Rake It In During The Great Recession!

[Panaconda]

CEOs of the 50 firms that have laid off the most workers since the onset of the economic crisis took home 42 percent more pay in 2009 than their peers at S&P 500 firms, according to CEO Pay and the Great Recession, the 17th in a series of annual Executive Excess reports from the Institute for Policy Studies.

"Our findings illustrate the great unfairness of the Great Recession," says Sarah Anderson, lead author on the Institute study. "CEOs are squeezing workers to boost short-term profits and fatten their own paychecks."

===============



Executive Excess 2010: CEO Pay and the Great Recession

By Sarah Anderson, Chuck Collins, Sam Pizzigati, Kevin Shih

The 17th annual executive compensation survey looks at how CEOs laid off thousands while raking in millions.

CEOs had a terribly rough 2009. Or so the national and regional executive pay surveys released so far this year would suggest. “CEOs See Pay Fall Again,” blared one headline early this past spring. “CEO pay rankings dominated by large salary cuts,” read another in June. “Silicon Valley bosses,” summed up still another, “get pay cut.” Month after month, the headlines have pounded home a remarkably consistent message: Corporate executives, here in the Great Recession, are suffering, too.

Corporate executives, in reality, are not suffering at all. Their pay, to be sure, dipped on average in 2009 from 2008 levels, just as their pay in 2008, the first Great Recession year, dipped somewhat from 2007. But executive pay overall remains far above inflation adjusted levels of years past. In fact, after adjusting for inflation, CEO pay in 2009 more than doubled the CEO pay average for the decade of the 1990s, more than quadrupled the CEO pay average for the 1980s, and ran approximately eight times the CEO average for all the decades of the mid-20th century.

...

http://www.ips-dc.org/reports/executive_excess_2010

[Paper Roses]

1. Check this one for size! Anyone worth that kind of bonus?

http://online.wsj.com/article/SB10001424052748703453804575479304005688616.html?mod=googlenews_wsj

[Panaconda]

3. I thought that guy

was under some sort of investigation for fraud. Maybe I'm thinking of someone else.

[blindpig]

2. Reward for service

They have served their investors well and they are rewarded. People get all worked up about CEO compensation but ya known somebody thinks they're worth it, the people who profit even more greatly, the investors who are fabulously well to do through no labor of their own.

So while we pillory these scab scum let us keep in mind that they are a symptom, not the disease. The disease is Capitalism.

k&r

[Quantess]

4. Thanks for posting this.

[w8liftinglady]

5. cool...this is what I wrote my latest ltte about

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9096484