The FIRST LAW OF PROFITEERING!
By Matthew MacEgan in the USA:
Double-digit rise in American CEO pay
2 July 2013
The 200 highest paid CEOs at US public companies with revenue above $1 billion received a median compensation package of $15.1 million in 2012, 16 percent higher than the previous year, according to a report published Sunday by the New York Times. The Times compiled its report based on data provided by the executive compensation analysis firm Equilar Inc.
The Times also published an adjoining article on the ongoing practice of granting retiring and even fired CEOs multi-million-dollar “golden parachute” retirement packages. The articles provide insight into the further enrichment of the corporate elite, under conditions of declining wages and mounting poverty for millions of workers and youth in the US.
Most of the money in the CEO compensation packages came from stock and option grants, which generally rose sharply in line with…
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