Good 10 minute video on how US charity hospitals were transformed into providing a conduit of excessive Executive Compensation for a handful of insiders.
Your tax dollars at work. Charity begins at the home of the CEO and it’s generous
intercst
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Easy. Claim the business wouldn’t/couldn’t exist/do as well without that person in charge, so the high compensation is to pay for that. Sound familiar (only I can do it)…???
Pretty much. The line is usually “we need to provide competitive compensation, to attract top talent”. So, all the companies bid up CEO pay to obscene levels. It doesn’t hurt that each company’s Board is full of honchos from other companies, so they scratch eachother’s back, with money, lots of money.
The media has been reporting (complaining) about the auto workers wanting a 40% raise. That number didn’t come out of their backside. That is how much the CEO’s compensation has increased in recent years.
Steve
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