Showing posts with label CEO's. Show all posts
Showing posts with label CEO's. Show all posts
May 6, 2019
December 1, 2017
November 20, 2017
August 28, 2017
June 21, 2017
February 7, 2017
July 15, 2016
140 Silicon Valley Leaders Pen Open Letter Protesting Donald Trump Nomination @alternet
140 Silicon Valley Leaders Pen Open Letter Protesting Donald Trump Nomination @alternet:
"A cadre of over 140 technology sector leaders from Silicon Valley published an open letter decrying “Donald Trump’s divisive candidacy” and demanding “a candidate who embraces the ideals that built America’s infrastructure"."
"A cadre of over 140 technology sector leaders from Silicon Valley published an open letter decrying “Donald Trump’s divisive candidacy” and demanding “a candidate who embraces the ideals that built America’s infrastructure"."
January 30, 2016
Bernie Sanders Vows to Crack Down on Greedy Corporate Tax Dodgers
Bernie Sanders Vows to Crack Down on Greedy Corporate Tax Dodgers
"Singling out what he dubs the "top 10 corporate tax dodgers," Bernie Sanders on Friday pledged to close loopholes that let huge corporations avoid paying their fair share in taxes. The list (pdf) includes General Electric, Boeing, Bank of America, Citigroup, and Merck, and notes that several of the companies' CEOs, even as they sit on massive retirement savings, want to raise the eligibility age for—and make significant cuts to—social safety net programs like Medicare and Social Security."
"Singling out what he dubs the "top 10 corporate tax dodgers," Bernie Sanders on Friday pledged to close loopholes that let huge corporations avoid paying their fair share in taxes. The list (pdf) includes General Electric, Boeing, Bank of America, Citigroup, and Merck, and notes that several of the companies' CEOs, even as they sit on massive retirement savings, want to raise the eligibility age for—and make significant cuts to—social safety net programs like Medicare and Social Security."
October 31, 2015
August 12, 2015
The Outrageous Ascent of CEO Pay
The Outrageous Ascent of CEO Pay
"Consider that in 1965, CEOs of America’s largest corporations were paid, on average, 20 times the pay of average workers.
Now, the ratio is over 300 to 1.
Not only has CEO pay exploded, so has the pay of top executives just below them.
The share of corporate income devoted to compensating the five highest-paid executives of large corporations ballooned from an average of 5 percent in 1993 to more than 15 percent by 2005 (the latest data available).
Corporations might otherwise have devoted this sizable sum to research and development, additional jobs, higher wages for average workers, or dividends to shareholders – who, not incidentally, are supposed to be the owners of the firm.
Corporate apologists say CEOs and other top executives are worth these amounts because their corporations have performed so well over the last three decades that CEOs are like star baseball players or movie stars.
Baloney. Most CEOs haven’t done anything special. The entire stock market surged over this time.
Even if a company’s CEO simply played online solitaire for thirty years, the company’s stock would have ridden the wave."
"Consider that in 1965, CEOs of America’s largest corporations were paid, on average, 20 times the pay of average workers.
Now, the ratio is over 300 to 1.
Not only has CEO pay exploded, so has the pay of top executives just below them.
The share of corporate income devoted to compensating the five highest-paid executives of large corporations ballooned from an average of 5 percent in 1993 to more than 15 percent by 2005 (the latest data available).
Corporations might otherwise have devoted this sizable sum to research and development, additional jobs, higher wages for average workers, or dividends to shareholders – who, not incidentally, are supposed to be the owners of the firm.
Corporate apologists say CEOs and other top executives are worth these amounts because their corporations have performed so well over the last three decades that CEOs are like star baseball players or movie stars.
Baloney. Most CEOs haven’t done anything special. The entire stock market surged over this time.
Even if a company’s CEO simply played online solitaire for thirty years, the company’s stock would have ridden the wave."
THANKS, WARREN – New Rule Requires Companies To Reveal What Their CEOs Are Earning
http://www.addictinginfo.org/2015/08/05/thanks-warren-new-rule-requires-companies-to-reveal-what-their-ceos-are-earning/
"Of course the panel’s two GOP members opposed it. Why on earth would they give a damn about exposing income inequality? Their donors have made it clear that they don’t want average Americans knowing how badly they are being scammed by those they work for."
"Of course the panel’s two GOP members opposed it. Why on earth would they give a damn about exposing income inequality? Their donors have made it clear that they don’t want average Americans knowing how badly they are being scammed by those they work for."
May 20, 2015
How the System Favors Corporations Who Break the Rules Over the Working-Class | Alternet
How the System Favors Corporations Who Break the Rules Over the Working-Class | Alternet
"They’ll laugh all the way to the, well, to the bank. Just like oil companies snicker as they grab government subsidies [welfare] even though they’re among the most profitable corporations in the world. Just like hedge fund operators chuckle while luxuriating in their special, super-low tax rate.
Over the past 35 years, the rules have been written to facilitate trickle-up economics. The theory was that in a financial structure that guaranteed the rich received all income gains in the economy, millionaires and billionaires might let a couple of nickels slip out of their bulging pockets for workers to try to catch.
Unfortunately for workers, Brooks Brothers suits have really deep pockets. Almost nothing fell out of those pouches for workers. Their wages stagnated for decades while the rules facilitated the pinstriped boys getting richer and richer.
Last year, the pay gap between CEOs and typical workers widened to 373-to-1. That means for every $1 a worker earned, the CEO took $373. In just 7 minutes of slurping coffee or gazing out his penthouse office window, the typical CEO was handed more money than the average worker earned for 40 hours of labor.
Those numbers were very different before the dawn of trickle up. In 1965, the CEO-to-worker compensation ratio was 20-to-1. For every $1 a worker earned, the CEO got $20. And still, corporations made profits! And lots of people wanted to be CEOs! It was a time when the economic rules enabled workers to receive a larger share of the wealth that their labor helped create.
After trickle up, CEO compensation skyrocketed while worker pay languished. From 1978 to 2013, CEO compensation increased 937 percent, while the typical worker’s pay rose 10.2 percent. That trend continued last year, when CEO pay jumped up 16 percent while worker wages inched up 2.9 percent, which is hardly at all considering the 2.1 percent inflation rate."
"They’ll laugh all the way to the, well, to the bank. Just like oil companies snicker as they grab government subsidies [welfare] even though they’re among the most profitable corporations in the world. Just like hedge fund operators chuckle while luxuriating in their special, super-low tax rate.
Over the past 35 years, the rules have been written to facilitate trickle-up economics. The theory was that in a financial structure that guaranteed the rich received all income gains in the economy, millionaires and billionaires might let a couple of nickels slip out of their bulging pockets for workers to try to catch.
Unfortunately for workers, Brooks Brothers suits have really deep pockets. Almost nothing fell out of those pouches for workers. Their wages stagnated for decades while the rules facilitated the pinstriped boys getting richer and richer.
Last year, the pay gap between CEOs and typical workers widened to 373-to-1. That means for every $1 a worker earned, the CEO took $373. In just 7 minutes of slurping coffee or gazing out his penthouse office window, the typical CEO was handed more money than the average worker earned for 40 hours of labor.
Those numbers were very different before the dawn of trickle up. In 1965, the CEO-to-worker compensation ratio was 20-to-1. For every $1 a worker earned, the CEO got $20. And still, corporations made profits! And lots of people wanted to be CEOs! It was a time when the economic rules enabled workers to receive a larger share of the wealth that their labor helped create.
After trickle up, CEO compensation skyrocketed while worker pay languished. From 1978 to 2013, CEO compensation increased 937 percent, while the typical worker’s pay rose 10.2 percent. That trend continued last year, when CEO pay jumped up 16 percent while worker wages inched up 2.9 percent, which is hardly at all considering the 2.1 percent inflation rate."
November 14, 2014
CEO of Coal Mine Where 29 Workers Died Is Indicted
http://www.alternet.org/ceo-coal-mine-where-29-workers-died-indicted
"Don Blankenship, the CEO of the Massey Energy coal mine that exploded and killed 29 workers in 2010 has been indicted on charges that he conspired to violate federal mine safety and health standards.
The indictment, handed down by a federal grand jury in Charleston, West Virginia, says that Blankenship hid safety violations at the West Virginia mine between January 2008 and April 2010, when the disaster took place. The suppressing of the safety violations impeded a federal mine safety investigation following the blast, the indictment alleges.
Blankenship can face 31 years in prison if convicted."
"Don Blankenship, the CEO of the Massey Energy coal mine that exploded and killed 29 workers in 2010 has been indicted on charges that he conspired to violate federal mine safety and health standards.
The indictment, handed down by a federal grand jury in Charleston, West Virginia, says that Blankenship hid safety violations at the West Virginia mine between January 2008 and April 2010, when the disaster took place. The suppressing of the safety violations impeded a federal mine safety investigation following the blast, the indictment alleges.
Blankenship can face 31 years in prison if convicted."
Finally a Member of the Oligarchy Is Indicted for Culpability in Worker Deaths: 29 Coal Miners Killed
http://www.truth-out.org/buzzflash/commentary/finally-a-member-of-the-oligarchy-is-indicted-for-culpability-in-the-death-of-workers-29-coal-miners-killed
"Blankenship is a nasty piece of work, even in the pitiless exploitative business of coal mining, but his outlook on profits before lives is not uncommon in the extraction industry and in corporations in general."
"Blankenship is a nasty piece of work, even in the pitiless exploitative business of coal mining, but his outlook on profits before lives is not uncommon in the extraction industry and in corporations in general."
Massey Energy CEO Indicted In Upper Big Branch Mine Disaster
Massey Energy CEO Indicted In Upper Big Branch Mine Disaster
"Don Blankenship, the longtime chief executive of Massey Energy, was indicted today on charges that he violated federal mine safety laws at the company’s Upper Big Branch Mine prior to an April 2010 explosion that killed 29 miners."
"Don Blankenship, the longtime chief executive of Massey Energy, was indicted today on charges that he violated federal mine safety laws at the company’s Upper Big Branch Mine prior to an April 2010 explosion that killed 29 miners."
October 10, 2014
Perdue whined about his CEO pay while 7,600 lost their jobs
http://www.dailykos.com/story/2014/10/10/1335721/-Perdue-whined-about-his-CEO-pay-while-7-600-lost-their-jobs
"Georgia Republican David Perdue isn't just an outsourcer and a pay discriminator, he's also supremely selfish. The New York Times points out that, in the same deposition in which Perdue so lovingly detailed his outsourcing experience, he also went into quite a bit of detail about his efforts to squeeze every possible dime in pay out of Pillowtex, the company he helmed as it went under, costing 7,600 jobs"
"Georgia Republican David Perdue isn't just an outsourcer and a pay discriminator, he's also supremely selfish. The New York Times points out that, in the same deposition in which Perdue so lovingly detailed his outsourcing experience, he also went into quite a bit of detail about his efforts to squeeze every possible dime in pay out of Pillowtex, the company he helmed as it went under, costing 7,600 jobs"
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