Nearly everyone is angry about excessive corporate executive pay these days, from laid-off autoworkers and foreclosed homeowners to former Federal Reserve Chairman Paul Volcker. At the seven biggest financial firms that have recently failed, been sold or been bailed out, top executives have received $464 million in “performance pay” since 2005. And these are the same people who helped create the… return to article
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Reader Comments (2)Page 1 of 1 pagesMy father worked for United Airlines for 33 years. As the employee owned company was going under, the executives fully funded their own pensions and created provisions that would preserve executive pay during a bankruptcy. These items are a short list of what executives did to preserve their own behinds. Now, years later, my father still wonders how much his monthly retirement check will be. You see, it takes the PBGC a couple years to determine which each retired employee will get after their pension plan goes into default (turned over to the government). Either way, his loss is about $600 a month or $7200 a year. And he was no pilot with a huge bank account to rely on!
Executive pay is way out of control and out of proportion with what their workforce earns. This must stop!
Posted by Bill_W on Jul 4, 2009 at 12:21 AM And this problem is much more prominent in other developing countries such as India.
The gap is simply a few notches more than USA AFAIK.
Posted by Mark Mignet on Jul 12, 2009 at 3:31 PM Page 1 of 1 pages -
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