General Discussion

LiberalArkie

(19,896 posts) Fri Feb 14, 2014, 10:54 AM Feb 2014

Former CEO: Executive Pay Is 'A Fraud' [View all]

http://www.huffingtonpost.com/2014/02/13/leo-hindery-ceo-pay_n_4784162.html

You can blame the stagnant economy on a "handful of women and men" who run the country's largest companies. And that's according to a man who used to be one of those people.

Executive pay has gotten so out of hand, former AT&T Broadband CEO Leo Hindery told HuffPost Live on Thursday, that it has caused a "structural breakdown of the meritocracy of our nation."

Hindery pointed out that, even as CEO pay has skyrocketed in recent decades, it has not "trickled down" to workers, who must increasingly borrow money to finance their spending. That dynamic helped set the stage for the most recent recession and helps explain today's sluggish recovery.

Fortune 500 CEOs now make more than 200 times what their average workers make, according to Bloomberg data. That ratio has increased by 1,000 percent since 1950. As CEO pay has exploded, worker pay has stagnated: Workers have not had a real cost-of-living increase since the 1960s, Hindery argued.

<Snip>

Please read the comments below the article:

24 replies

= new reply since forum marked as read

Highlight:

Former CEO: Executive Pay Is 'A Fraud' [View all] LiberalArkie Feb 2014 OP

When I grew up, taking as much money from the till as you wanted, was called theft shenmue Feb 2014 #1

Thank you, shenmue for putting it into words. Octafish Feb 2014 #4

Most pertinent! dougolat Feb 2014 #19

+1,000 TexasTowelie Feb 2014 #6

And then trickle-down economics became the buzzword. toddwv Feb 2014 #8

thanks for posting this. nt antigop Feb 2014 #2

But we working men and women already knew this. We want a way to stop the fraud. nt kelliekat44 Feb 2014 #3

Unfortunately the economy will have to get far, far, worse CFLDem Feb 2014 #5

bosses are usually #$%^ demigoddess Feb 2014 #7

"I got mine." PowerToThePeople Feb 2014 #9

"...structural breakdown of the meritocracy of our nation." randome Feb 2014 #10

If only politicians could not be bought and sold. Rex Feb 2014 #11

Time has come ... progressoid Feb 2014 #12

Now that's what we're talking about. K&R. ck4829 Feb 2014 #13

So true! Bookmarking! n/t freshwest Feb 2014 #14

CEO is the last refuge of a scoundrel. nt Edim Feb 2014 #15

so-- "women and men" as though there were an equal number of them niyad Feb 2014 #16

I noticed this peculiar wording too Lordquinton Feb 2014 #18

what top female ceo's earn niyad Feb 2014 #17

Money needs to circulate CJCRANE Feb 2014 #20

"Trickle Down" is a modern-day SCAM. But try telling that to our DEMS, many of whom are wealthy and blkmusclmachine Feb 2014 #21

Even if taken in a vacuum and looked at objectively, King_Klonopin Feb 2014 #22

And 2r = d ... freebrew Feb 2014 #23

Unfortunately it might BuelahWitch Feb 2014 #24