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…we just live in it.
A new report concludes that chief executives of the 50 firms that have laid off the most workers since the onset of the economic crisis in 2008 took home 42 percent more pay in 2009 than their peers at other large U.S. companies
The report, from the Institute of Policy Studies, found that the 50 layoff leaders received $12 million on average in 2009, compared with an average compensation of $8.5 million for chief executives of companies in Standard & Poor’s 500. Each of the 50 companies examined in the report laid off at least 3,000 workers between November 2008 and April 2010.
“Our findings illustrate the great unfairness of the Great Recession,” said Sarah Anderson, lead author of the study, “CEO Pay and the Great Recession,” the latest in a series of annual “Executive Excess” reports published by the institute, a progressive think tank. “CEOs are squeezing workers to boost short-term profits and fatten their own paychecks.”
Fiorina is paying for her campaign with the money from her “severance package” (she was fired, sacked, given the boot, transitioned to “Vice President of Don’t Be Here Anymore”) after laying off thousands of employees and offshoring (“rightshoring”, she calls it) their jobs.
And they still hate her.
She really is a horrible person.
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Why don’t those fucking CEOs go Galt already?
“CEOs are squeezing workers to boost short-term profits and fatten their own paychecks” – hey, there’s that awesome free market quote for Amanda Carpenter that we were all feverishly looking for last night…
Meanwhile, at the other end of the pay scale, the rest of us are looking at where our hard-earned dollars are going, and smiling at the thought of firing the biggest recipient of all: the federal government. Talk about not earning your keep… I mean, I’m fine with giving Pakistan a few billion so they can keep the Taliban afloat a few more years, and I guess there’s no reason to doubt the need to support faith-based abstinence programs (even though they don’t, you know, work), but really, the rest is such a wasteful charade.
Been going on for a while. That’s why there were FOUR Griff Harshes before “Griff Harsh V.” Just cue the fucking guillotines.
As the CEO of my own sheetrocking business I know that carly was just applying free market principals to manuel labor: we have economic incentives to support the political destruction of Osamabamas economy. For example I used to subcontract out my spackling to Whorhey (he spells it Jorge) but when construction stopped I found a couple wetbacks down at home depot that would work for a third of the cost. So im working less and making more cause my labor costs are down. Damn i love the free market
So jesus and his cousin jesus complain about the whirlpool box they livin in down by the river an I show them the prices in craigslist for handjobs has gone down 46%. I know this first hand. When the bottom drops out all our boats are floated by folks who will do damn near anyting for a happy meal. Im still lookin for a bottom.
See, this is the problem right here. If Bernanke would start gauging the recovery based on the price of handjobs rather than what he has to shell out to lick the bottom of Miss Anthrope’s boots clean for an hour, he’d have the Fed off its collective ass and doing something in no time.
Oh, the hate goes much further than the employees.
HP once was a wonderful source of cutting-edge high-tech toys, for all the nerds, geeks and those who really need that last ppm or GHz of performance. They drove the infrastructure of the IC revolution, up to and including the internet.
Now they just make shitty disposable printers with high-priced cartridges, and a ho-hum line of laptops.
It takes many decades to establish a reputation like HP once had. Carly showed how it could be flushed down the toilet in just a few years.
“an I show them the prices in craigslist for handjobs has gone down 46%. I know this first hand. ”
Sorry the income from your second job has dropped.
Rightshore this, you twatwaffle Sneed.
If California votes for her, it’s a horrible shame. Goddess knows Barbara Boxer has made some mistakes in her day, but she’s light years ahead of this Dagny Taggart wannabe.
Abstinence-only education programs don’t only not work, they kill American children.
Psycho/Bitch 2012!!!!
Whoopsie, that should have been Sarah/Carly 2012!!!!
I hope she goes all-in with her entire fortune and loses. Then she can retire broke like so many of the people she laid off.
I’m listening to the Boxer-Fiorina debate right now. Fiorina fit multiple lies into her first statement. She’s off to a good start!
I don’t know why everyone is always slagging on poor Carly – that Compaq deal is really going to pay dividends for HP one of these days.
I mean, just their luggable PC technology itself (now under 20 pounds!) revolutionizes the computer market! It’s only a matter of time before they break the 10 pound barrier, and then all bets are off. Assuming they they can stay one step ahead of the boffins at Xerox labs – I hear tell they’re working on an ad-hoc communications system for computers, I think called “ethernetwork” or something, that they have high hopes for. If that works out, I don’t doubt that Xerox will become almost as powerful as other behemoths like Texas Instruments and Smith-Corona.
Karma’s a bitch!
Just to be a devil’s advocate (and I agree Fiorina’s a devil), but the 50 companies that laid off the most workers are most likely the companies that employed the most people and thus were the biggest companies that thus paid the most to their CEOs. Classic confounding of variables. Also, why 50? Because if it was 100, then the pay gap would be smaller. I would guess that if you took the 250 high job cutters and compared them to the 250 low job cutters, the gap would disappear.
Why don’t those fucking CEOs go Galt already?
They’re waiting. Nobody’s offered them enough money yet.