The following story is an example of why corporate executives and board of directors make up the the strongest (albeit invisible) labor union in America. These people trade perks with each other and, generally speaking, hold corporate America hostage to their hearts of greed. These elite princes and princesses of industry usually make 100s of times as much as those people they 'lead'. It is a sad commentary on Amercian capitalism and one of the reasons that America is losing jobs to overseas outsourcing ventures. Anyone have a name for this union? How about Greed Incorporated?
Occidental CEO got more than $400 million in 2006
CHICAGO (Reuters) - Occidental Petroleum Corp.'s chairman and chief executive took in more than $400 million in compensation last year, the company said in a filing, one of the biggest single-year payouts in U.S. corporate history. Read more here.
... and if you need a smile check out Motley Fool's CEO Bill of Rights.
How do these people sleep at night??? $400 million?????
ReplyDeleteThis makes me sick.
. The company that I work for paid a huge amount to make our last CEO go away. Poor out of work man having to live on all that cash while we all still have jobs.
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