Working Life

Performance goes down, pay goes up. That is the formula in the hedge fund world. And it just keeps going and going and going…

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    In my search to find something positive among the rubbish cascading across our eyes, let us behold a small ray of positive action. Citibank’s CEO Vikram S. Pandit tried to stuff his pockets full of millions of dollars more in bank money. The shareholders were not buying it–and turned thumbs down on his proposed […]

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That CEOs of American-based, flagless corporations will say, or do, anything to make a buck–and line their own pockets–is not a surprising notion. That our political leadership keeps buying the nonsense spewed out by the Chamber of Commerce and the other megaphones of corporate greed is a tragedy–an obvious result of the corrupt campaign finance […]

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    Silly you. Bet you were confused, thinking that that extra money was hidden in your paycheck, a gift from those companies sitting on a trillion dollars in cash. C’mon, this is the United States of America where the only people who deserve more money are those that have plenty already: The CEOs of […]

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    Do not get distracted by the claims by people who want your vote. Nothing has changed. The robbery of the wealth of the country continues. And the rhetoric aiding and abetting the robbery is going to get ramped up around corporate tax cuts.     Let’s start with the hardship sweeping the country…It’s been a […]

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   It never ends. The robbery of the great wealth of the nation. The Audacity of Greed of the CEO class is never quenched. On Friday, I wrote about the huge pay increases sweeping through the CEO class in the financial community. It’s a cancer that is spreading again everywhere. Let me start with this […]

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   The answer is no, I’m not surprised. But, we must never lose the sense of outrage or simply shrug because "it’s just the way it is". Never. The absolute Audacity of Greed has to be challenged every moment.    In the Financial Times today: Jamie Dimon underlined Wall Street’s return to health after the […]

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   This is a story that cannot be retold enough and updated enough because it highlights, as much as any trend, how nothing has changed. The people suffer–while CEO pay continues to go up. The robbery continues unabated.     Let’s start with the hospital sector. In New York, and I would suspect everywhere else […]

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   Well, who said you can’t count on stability anymore? That things are changing too rapidly. Not to worry:    It was a tough year for Bank of America what with the foreclosure mess and a sagging stock price. Its chief executive, Brian T. Moynihan, nonetheless received $10 million in his first year on the […]

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We hear an enduring myth: the "free market" decides who gets what in an efficient dance of allocation of resources through competition. Garbage. Especially when it comes to CEO pay–though apparently there are some who want to continue the myth of competition.   Over the weekend, I caught this in the NYTimes business section–an excerpt […]

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