What a shocker... Compensation for CEOs at the 350 largest publicly traded firms dropped 14.8 percent to $25.2M in 2022, compared to only a 1.9 percent dip for employees at those companies, according to a report by the Economic Policy Institute.
A lousy stock market hit the pockets of CEOs. The fall in comp was due to the reduced value of exercised options due to the decline of stock prices.
But shed no tears for corporate chieftains. Their compensation has soared 1,209.2 percent since 1978 vs. a 15.3 percent boost for a typical worker.
In 2022, CEOs “earned” 344 times more than one of their workers. That’s a big jump from 21 times in 1965.
Out-of-this-world CEO pay contributes to rising inequality. EPI believes CEOs are getting paid more because of their leverage over corporate boards, not because of any management genius.
The think tank recommends empowering shareholders to vote on CEO comp and using tax policy to incentivize lower CEO pay.
At the very least, higher income-tax rates should be reinstated for those at the very top.
The Donald mimics Rudy. Donald Trump’s Sept. 27 invitation-only appearance at Drake Enterprises, a non-union truck parts shop in the Detroit suburbs, is reminiscent of Rudy Giuliani’s infamous press conference at Four Seasons Total Landscaping in Philadelphia four days after the 2020 presidential election. Both were PR disasters.
Located near a sex shop and crematorium, Four Seasons was hardly the ideal site to challenge the Keystone State’s vote count. To make matters worse for Rudy, the Associated Press called the election for Joe Biden as he droned on.
Trump made believe his audience was filled with members of the striking United Auto Workers union. (The Detroit News reported there were fake UAW members in the crowd holding union posters in support of Trump). He said the UAW is not picketing for the right thing and railed against “environmental lunatics” who support electric vehicles.
Trump urged a crowd of about 500 to get their UAW leader to endorse him and he’ll take care of the rest. The Donald sounded like a Mafia Don, or an old-time union boss.
Who knew? The great state of Idaho is well-known for its spuds, but wine?
Idaho is perfect for growing grapes. It has warm days, cool nights and lots of relatively affordable land.
Riesling, Chardonnay, Syrah, Cabernet Sauvignon and Merlot rank as the top five wines produced in The Gem State.
The Idaho Wine Commission wants to move the state from consideration as being an “up and coming” wine producer to one that is ready for “prime time.”
It is wrapping up a search for a firm to handle PR and marketing, IWC’s Julianne Germain told O’Dwyer’s.
Watch out, California. Here comes Idaho.