Jim Hightower's Radio Lowdown
Until recently, corporate executives were eager to demonstrate how “green” they were. But then came Trump, trashing the very idea of a green economy. So, to appease the vengeful Republican, obsequious CEOs rushed to dump their green principles. Except for one especially verdant area of the corporate culture: CEO compensation. As widely reported, top executive pay has surged during the Trump regime. But wait, they want more, so other tendrils of executive pay have sprouted and grown like Jack’s beanstalk, further separating those at the top from the rest of us. Wall Street Journal reporters have uncovered some $600 million in [https://www.fastcompany.com/91580368/major-us-firms-spent-600-million-on-perks-for-executives]executive perks [https://www.fastcompany.com/91580368/major-us-firms-spent-600-million-on-perks-for-executives] that big corporations shelled out to their honchos last year. For example, investors in Apollo, the avaricious Wall Street huckster, laid out nearly a million for luxury limo and chauffeur services so their billionaire CEO wouldn’t have to open the car door by himself. For tax purposes, Apollo called this a “security measure,” rather than the pompous plutocratic perk it is. Already overpaid, these royals have come to expect all of life’s needs and whims to be covered, including: * $121,000 in free tickets to ballgames to please the multimillionaire chief of Roto-Rooter, who is said to be “a huge sports fan.” * $20,000 in booze for the head of a liquor conglomerate, which insists the freebie is awarded to enhance the boss’ “knowledge of the product.” * And a $492 payout to cover the maintenance cost on a home generator for the chief of Hewlett Packard – who is paid $23 million a year. An old adage claims that it’s the little things that matter… and these CEO entitlements show just how little corporate “leaders” have become. Do something! To stay on top of all-things-CEO-pay, check out Inequality.org’s work on the topic [https://inequality.org/topics/executive-pay/] and take action with the organizations they recommend here [https://inequality.org/resources/organizations/organizing-projects/]. Jim Hightower's Lowdown is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jimhightower.substack.com/subscribe [https://jimhightower.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_2]
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