Wednesday, January 16, 2008

Executive compensation...will the big rotting CEO corporate fish take a pay hike?

Suddenly in the op ed page of the 'Financial Times of London' there is worry as capital market grind to a screeching halt, about the astronomical compensation CEO's pay themselves. Will they take pay cuts like the Japanese? Or will they renogiate the terms of golden parachutes? Or will they carry on as usual with hardly a care in the world but their own selfish class interests? This question is forever absent from the pages of the world's financial journals or business sections of the international press. Instead we hear about the outrageous demands of workers. As Gore Vidal famously said, 'free enterprise is for the worker, socialism for the rich'. The cancer spread of revolution will usher in more uncertainty, it is obvious to say, but where are the pols with backbones and the popular movements to demands great change and more sharing of the filthy lucre the CEO's have amassed?

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