The Ford bosses’ display of greed is not an aberration. The heads of major US corporations received their biggest raises in recent memory last year. Median CEO pay (not counting stock awards and other perks) jumped 27 percent to $9 million. The Detroit News reported Saturday that “$25 million is the pay level top companies performing well are paying their chief executives…”
Among the companies that have handed out huge executive bonuses is Transocean, the owner of the Deepwater Horizon rig that exploded nearly a year ago, killing 11 workers and sending oil gushing into the Gulf of Mexico. In a filing Friday, Transocean reported that it had awarded safety bonuses to its executives as a reward for the firm’s “best year in safety performance.” CEO Steve Newman’s safety bonus was over $374,000, part of a total compensation package of $5.8 million.
As If You Need to Be Told
the crooks are now in charge of the show, and the politicians are in bed with the crooks.
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