Executives and board members make extreme salaries and get ludicrous benefits with David Lesar being the biggest thief. Our employees barely get by while the executives and board people get richer and richer. The heads of the company are stealing from our members and customers. Imagine how far Lesar unearned pay would go towards healing employees who are struggling right now? I am not impressed with our leaders and sick about the money they get. For what? I am not motivated by any of them. They are grifters. Makes me so angry.
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Dean Baker, economist. “It is important to realize that $20 million CEOs are not worth their pay. That's not a moral judgement on their worth to society, it's a comment on their value to the company. The companies are being ripped off by CEOs and other top management.”
Holy Cow, I read the article. C-suite folks always make a lot of money. That said, it is OUTRAGEOUS that the President of the Board is making close to $9M/year! Absolutely ludicrous. For profit counterparts, at best, make around $500,000/year. And the sick connections with former execs getting Board positions at each other's former employers is classic rub my back and I'll rub yours. What a great company.
https://www.chicagobusiness.com/health-care/blue-cross-bosses-pocket-pay-hikes
Is there a new Crain’s article? Would you mind sharing the link? I wasn’t able to find anything in a Google search.
I was shocked that during a global pandemic and a government insurrection stock prices actually went up. Clearly a hug disconnect between our economic system and reality for most Americans.
Our economic system is setup so that the richest 1% of Americans get essentially all of the benefits. Rather than invest in workers or position a company so government bailouts are not necessary. The top 1% got $21 trillion richer, while the bottom 50% got $900 billion poorer.
If a pandemic and insurrection doesn’t change corporate America then workers will need to do something before it’s too late.