Sep
28
While the rest of the country suffers with more people losing their jobs, share prices tanking and companies going bust, US CEOs continue to clean up. The recession has not really affected their pay.
A study by the Corporate Library, reported here, shows that the median take-home pay among more than 2000 CEOs fell by 6.4% from 2007 to 2008. Yes, that's the first time on record that CEO pay has gone down instead of up but it's just 6.4%. Compare that to the stock market falling 37% and 2.6 million jobs being destroyed.
And some CEO pay packets went up. The most lucrative industry was oil as petrol prices continued to climb.
Is it any wonder that the corporate world is now being held in such contempt?
no comment untill now