Corporate critics cry foul when SEC releases CEO pay data.
A new global CEO pay comparison, the most dramatic yet, demolishes the standard-issue corporate rationale for America's over-the-top executive compensation.
"The public is struggling to pay for health care," said Sen. Chris Pearson (P/D-Chittenden). "To see that the CEO of our hospital is getting $2 million ... it's just way out of whack with the Vermont economy."
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How many more outrageously compensated executives will retire off into lush sunsets, the Jeff Immelt story virtually begs us to ask, before we start yanking that lever?
Under Novick's tax plan, a company with a CEO-to-worker ratio of at least 100-to-1 will pay a surcharge equal to 10 percent of the amount it pays for Portland's business tax. A company with a 250-to-1 ratio or greater would pay a 25 percent surcharge.
It is no coincidence that CEO pay has reached astronomical levels at the same time that income inequality has widened to a level not seen since the eve of the Great Depression or even the Gilded Age of the late 19th century. A wide body of scholarship has linked the two. CEOs, who earn 335 times the pay of their average employee, make up a big chunk of the 1 percent. Some ideas to change that are kicking around.
Runaway CEO Pay in 30 Seconds. Jimmy Greene -- Where Is the Love? Delta Flight Attendants: Vote Union. Baba Brinkman – So Infectious. Vindicating Freedom Fighters.
In 1965, top CEOs made 20x more than typical workers in their industries. Now it's worse. Much worse.
Excessive compensation can ruin a CEO's judgment.
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