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Occupy Chicago March to Grant Park, November 5, 2011. (Photo: Michael Kappel) |
Wednesday, 18 January 2012 03:44
By Bill Moyers and Michael Winship, Truthout | Op-Ed
If you're part of the 1 percent, even getting fired comes with a
cushion made of eiderdown. GMI, a research company that gets paid to
keep an eye on such things, just issued a study headlined, "Twenty-One
U.S. CEOs with Golden Parachutes of More than $100 Million." That's
each.
The report's authors, Paul Hodgson and Greg Ruel, write, "These 21 CEOs
walked away with almost $4 billion in combined compensation. In total,
$1.7 billion in equity profits was realized by these CEOs, primarily on
the exercise of time-vesting stock options and restricted stock."
This news came the same day as another report, this one from Indiana
University, titled, "At Risk: America's Poor during and after the Great
Recession." Its researchers conclude, "The number of people living in
poverty is increasing and is expected to increase further, despite the
recovery. The proportion of people living in poverty has increased by
27% between the year before the onset of the Great Recession (2006) and
2010 ... Poverty is expected to increase again in 2011 due to the slow
pace of the economic recovery, the persistently high rate of
unemployment, and the long duration of spells of unemployment."
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