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Imagine a World Where CEOs Get Paid $3 Million a Year

Imagine a World Where CEOs Get Paid $3 Million a Year
counterpunch.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from counterpunch.org Daily Mail and Mail on Sunday newspapers.

Jori Kandra , Josh Bivens , Elon Musk , Steven Clifford , Lucian Bebchuk , Jon Tyson , Jesse Fried , Pay Without Performance , Ship Straight ,

Those Corporate Bosses Are Ridiculously Overpaid -- And Now There's Proof

Reprinted with permission from
A new study shows that the top five executives of major corporations pocketed 15 to 19 cents of every dollar their companies gained from two recent tax cuts. The paper, by Eric Ohrn at Grinnell College, should be a really big deal.
The basic point is CEOs and other top executives rip off their companies. The officers are not worth the $20 million or more that many of them pocket each year.
This is not a moral judgment about their value to society. It is a simple dollars-and-cents calculation about how much money they produce for shareholders. The piece suggests that it is nothing close to what they pocket. ....

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Don't Let the Short-Termism Bogeyman Scare You

Don’t Let the Short-Termism Bogeyman Scare You
Summary.
The author, a professor at Harvard Law School, argues that concerns about the perils of short-termism and support for measures that would insulate corporate leaders from the outside pressures that allegedly make them myopic are long on alarming rhetoric and short on empirical evidence or economic logic. Furthermore, he writes, the threat of hedge fund activism should be expected to discourage managerial slack and underperformance, thus playing an important disciplinary role and incentivizing leaders to enhance shareholder value.
The complete Spotlight package is available in a single reprint.
This issue of Harvard Business Review includes, as many prior issues did, an article decrying the perils of short-termism and supporting measures for insulating corporate leaders from the outside pressures that allegedly make them myopic. But such arguments are long on alarming rhetoric and short on empirical e ....

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