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Tag Archives: CEO compensation

‘The Real Looting in America Is the Walton Family’: GAO Report Details How Taxpayers Subsidize Cruel Low Wages of Corporate Giants

By Jon Queally, staff writer, Common Dreams. Originally published at Common Dreams Pinpointing a reality denounced as “morally obscene” by Sen. Bernie Sanders, a new government study shows how some of the nation’s largest and most profitable corporations—including Walmart, McDonald’s, Dollar General, and Amazon—feast upon taxpayer money by paying their employees such low wages that huge numbers of those workers throughout the year are forced to rely on public assistance programs such as...

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CEOs Bank Big Bonuses As Oil Companies Go Bankrupt

Lambert here: These looters ought to be thinking about their neighborhood. By Alex Kimani, a veteran finance writer, investor, engineer and researcher for Safehaven.com. Originally published at OilPrice.com. When public oil and gas companies are doing relatively well, many are happy to adopt a pay-for-performance model to reward CEOs and executives. However, the tables are quickly turned when things go to the dogs. When these companies go bankrupt, the misery is shared by employees who lose...

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How McKinsey Got Greedy

Dear patient readers, I had gotten most of the way through this post on how McKinsey fell from grace and scheduled it, uncompleted. It auto-launched due to my inattentiveness. But that did impel me to finish it for your delectation. So apologies for the confusion. * * * Why has McKinsey, once the ne plus ultra of management consulting, become mired in scandal after scandal? It’s a sign of the times that cracks in McKinsey & Company’s teflon haven’t dented the consulting firm’s allure to...

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Marcie Frost Indictment: Overwhelming Majority of Investment Professionals Would Not Recommend Joining CalPERS

A survey of CalPERS’ investment professionals reveals that CalPERS is one big unhappy family. Not only that, it shows that they’ve become less happy in the last year, since Ben Meng became Chief Investment Officer. We’ve embedded the summary page of the survey, but this section shows that less than 1/4 of CalPERS’ investment professional would recommend working there to a friend. Bear in mind that 91% of the 329 members of the Investment Office participated, so the results can’t be blamed on...

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The Impact of CEOs in the Public Sector: Evidence from the English NHS

Yves here. This study supports our hypothesis that CalPERS’ Marcie Frost, who has managed to greatly increase her compensation since she joined the public pension fund, is overpaid. In general, in public pension funds, CEOs engage in administrative oversight and politicking, neither of which have much impact on performance. I wonder if these findings can also be generalized to US not-for-profit hospital systems, which have been invaded, locust-like, by MBAs who seem much better at personal...

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The Terribly Difficult Things Health Care CEOs Must Do to Make the Big Bucks: Back-to-Back Meetings, Complicated Schedules, Fatiguing Driving?!

Yves here. Health care CEOs can’t even come up with adequate justifications for their sky-high pay. They apparently deserve big bucks just because they have a big title. By Roy Poses, MD, Clinical Associate Professor of Medicine at Brown University, and the President of FIRM – the Foundation for Integrity and Responsibility in Medicine. Originally published at Health Care Renewal On Health Care Renewal, we have been decrying American health care dysfunction since 2004 (look here).  For years,...

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Financialization of the U.S. Pharmaceutical Industry

Yves here. This article is a bit geeky but very much worth your attention. It shows how pharmaceutical companies are flat out lying when they say they need higher drug prices to support R&D. Their profits go almost entirely to buybacks and dividends. And this analysis does not incorporate another unflattering fact: that Big Pharma spends more on marketing than research. It also describes how government funding of drug research has increased more than three times in real terms since the...

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Health Care Dysfunction Makes it to the Presidential Debate

Yves here. We’ve been republishing posts from Health Care Renewal for a very long time, but the recap below of the many causes of health care industry dysfunction is staggering. There is a lot of work that needs to be done. By Roy Poses, MD, Clinical Associate Professor of Medicine at Brown University, and the President of FIRM – the Foundation for Integrity and Responsibility in Medicine. Originally published at Health Care Renewal In last night’s debate which included leading candidates...

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The Numbers Are In, and Trump’s Tax Cuts Are a Bust

By Marshall Auerback, a market analyst and commentator. Produced by Economy for All, a project of the Independent Media Institute The most commonly heard refrain when Donald Trump and the GOP were seeking to pass some version of corporate tax reform went something like this: There are literally trillions of dollars trapped in offshore dollar deposits which, because of America’s uncompetitive tax rates, cannot be brought back home. Cut the corporate tax rate and get those dollars repatriated,...

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Is There a Global Future for Unions?

Yves here. This personal account of the rise and fall (and hopeful rebirth) of unions correctly gives prominent play to the right-wing anti-labor effort whose strategy was set forth in the 1971 Powell Memo. By Leo W. Gerard, the international president of the United Steelworkers Union (USW). Produced by the Independent Media Institute In March 2010, a rally by thousands of striking USW workers at the Vale mine and smelter in Sudbury, Canada, was joined by allies from Brazil, Australia and...

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