En Garde In The Bunker
Oh the hypocrisy of filthy lucre. While Dingie ‘Arry Reid moans and groans on a daily basis about his Koch Addiction, his back pocket swells and swells from illegal campaign donations from the wealthiest CEOs in the nation – most of whom run corporations with off-shore interests that don’t pay taxes. “Jeffrey Immelt” of GE ring a bell with anyone?
In the follow-in piece from the left-wing Associated Press, we see the stark reality of the hypocrisy of filthy lucre that runs all the way through this rogue administration of Obamination. You all know the stats and the figures, so no need to regurgitate the dismal news ie the “real” unemployment numbers; the “real” numbers of people who’ve simply dropped out of the workforce; the “real” numbers of foodstamp recipients; and the “real” numbers of people collecting monthly disability checks, to go along with their unemployment payouts. It all mounts up to a staggering reality of incontinent ineptitude, except when it comes to “redistributing” the wealth amongst the litany of Democrat billion-and-millionaires; the hypocrisy of filthy lucre.
There was a time that America had the greatest, wealthiest middle class the world has ever seen. That growth ended with the elevation of the Clintonista extravaganza, when he burned through the economic gains brought on by the Reagan years; but the pay increases and bonuses that Boards of Directors give out to CEOs has not ended. In fact it has been increasing.
We are headed, unfortunately, in the same direction as countries like Mexico and other South American regions that have wealthy enclaves, the rich living behind gates, traveling to and fro in armor-plated limousines surrounded by armed security guys, while outside lies the squalor of Venezuela-style poor barrios; we are headed there and on a fast train. Just take a visit within the inner circle of any major USA city and you’ll see what is spreading out from there; “doing a Detroit” is rapidly creeping up on many US cities; and the hypocrisy of filthy lucre brought on by the Democrats is to blame.
Welcome to the stark reality of the Obama/Reid/Pelosi economy. The rich get richer, the rest get broken promises. But hey! .. You can keep your broken promise, if you like your broken promise … PERIOD.
Now to the sad reality of the hypocrisy of filthy lucre…
This photo combination shows, from left, Nabors Industries CEO Anthony Petrello, in Houston, and TJX CEO Carol Meyrowitz, in Framingham, Mass. Petrello was the highest paid CEO in 2013, and Meyrowitz was the highest paid female CEO in 2013. (AP Photo)
NEW YORK (AP) — They’re the $10 million men and women.
Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public company earned a record $10.5 million, an increase of 8.8 percent from $9.6 million in 2012, according to an Associated Press/Equilar pay study.
Last year was the fourth straight that CEO compensation rose following a decline during the Great Recession. The median CEO pay package climbed more than 50 percent over that stretch. A chief executive now makes about 257 times the average worker’s salary, up sharply from 181 times in 2009.
The best paid CEO last year led an oilfield-services company. The highest paid female CEO was Carol Meyrowitz of discount retail giant TJX, owner of TJ Maxx and Marshall’s. And the head of Monster Beverage got a monster of a raise.
Over the last several years, companies’ boards of directors have tweaked executive compensation to answer critics’ calls for CEO pay to be more attuned to performance. They’ve cut back on stock options and cash bonuses, which were criticized for rewarding executives even when a company did poorly. Boards of directors have placed more emphasis on paying CEOs in stock instead of cash and stock options.
The change became a boon for CEOs last year because of a surge in stocks that drove the Standard & Poor’s 500 index up 30 percent. The stock component of pay packages rose 17 percent to $4.5 million.
“Companies have been happy with their CEOs’ performance and the stock market has provided a big boost,” says Gary Hewitt, director of research at GMI Ratings, a corporate governance research firm. “But we are still dealing with a situation where CEO compensation has spun out of control and CEOs are being paid extraordinary levels for their work.”
The highest paid CEO was Anthony Petrello of oilfield-services company Nabors Industries, who made $68.3 million in 2013. Petrello’s pay ballooned as a result of a $60 million lump sum that the company paid him to buy out his old contract.
Nabors Industries did not respond to calls from The Associated Press seeking comment.
