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US CEO pay soars during pandemic

US CEO pay soars during pandemic For the majority of the population, the COVID-19 pandemic has been a catastrophe on a scale not seen since the Second World War. With a death toll over 586,000 in the US alone, millions of families have lost loved ones, as parents, spouses, siblings, and even children fell ill and succumbed to the virus in a matter of days. Millions more have survived an infection only to face debilitating long-term consequences to their health. Norwegian Cruise Line Holdings President & CEO Frank Del Rio, right, joins applause as he rings the New York Stock Exchange opening bell. (AP Photo/Richard Drew)

CEO pay remains stratospheric, even at companies battered by pandemic

Boeing had a historically bad 2020. Its 737 Max was grounded for most of the year after two deadly crashes, the pandemic decimated its business, and the company announced plans to lay off 30,000 workers and reported a $12 billion loss. Nonetheless, its chief executive, David Calhoun, was rewarded with some $21.1 million in compensation. Norwegian Cruise Line barely survived the year. With the cruise industry at a standstill, the company lost $4 billion and furloughed 20 percent of its staff. That didn t stop Norwegian from more than doubling the pay of Frank Del Rio, its chief executive, to $36.4 million. And at Hilton, where nearly a quarter of the corporate staff were laid off as hotels around the world sat empty and the company lost $720 million, it was a good year for the man in charge. Hilton reported in a securities filing that Chris Nassetta, its chief executive, received compensation worth $55.9 million in 2020.

2020 Year in Review, Part 1: January-April

A protester in Nogales, Sonora holds up a sign directed at Mexican President Andrés Manuel López Obrador, reading: “We need you to look out for our health. Get with it, AMLO!” The protest on Wednesday, March 25, saw a small group of Sonorans block the southbound vehicle lanes on the Mexican side of the DeConcini port to demand their government do a better job of screening people at the border for the coronavirus. Photo by Jonathan Clark

2020 Year in Review: Part 1

A protester in Nogales, Sonora holds up a sign directed at Mexican President Andrés Manuel López Obrador, reading: “We need you to look out for our health. Get with it, AMLO!” The protest on Wednesday, March 25, saw a small group of Sonorans block the southbound vehicle lanes on the Mexican side of the DeConcini port to demand their government do a better job of screening people at the border for the coronavirus. Photo by Jonathan Clark

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