The Bailouts Taxpayers Seldom Ever Notice, Sam Pizzigati PDF Print E-mail

 

Peter DruckerAll across Corporate America, top executives are accumulating vast wealth while employees lose their jobs, have their wages reduced, and lose their benefits.  Peter Drucker, the Austrian born American who founded modern management science, considered excessive executive pay an assault on the good management of enterprise. 

Ford employees have seen their pay decline from $28 an hour to $19 along with giving up cost of living increases and health benefits.  Though the decline in compensation is considered absolutely necessary for Ford employees, CEO Alan Mulally apparently does not think such an emphasis on austerity applies to his own compensation.  His pay package alone for 2012 was $21 million.  In addition, in 6 years, he has amassed $300 million in Ford stock.

Such excessive executive pay made possible by decline in the financial well being of workers is not tolerated in other countries.  The financial compensation of Toyota CEO, Akio Toyoda, in comparison, was $1.48 million.  In France, the newly elected government of President François Hollande placed a cap equivalent to about $580,000 on executive pay at the 52 companies where the French government holds a majority stake.  This is about 20 times the average pay of French workers at the lowest 10% of wages.  A whopping 83 percent of the French public supported limiting maximum pay for all CEO's.  Peter Drucker himself recommended that executive pay be no more than 20 to 25 that of workers.

See the article by Sam Pizzigati:  "The Bailouts Taxpayers Seldom Ever Notice."


Sam Pizzigati edits Too Much, the online weekly on excess and inequality published by the Washington, D.C.-based Institute for Policy Studies. His latest book, The Rich Don’t Always Win: The Forgotten Triumph over Plutocracy that Created the American Middle Class, 1900-1970, has just been published.

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With Secretary of State Steve Simon

 

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Listen to Secretary of State Steve Simon's excellent presentation on MN's outstanding election system emulated by many other states at the Think Again Brooklyns forum January 19, 2016.  Secretary Simon includes ways in which it can be improved, and he explains why it is important to vote.  He concludes with a quote from a tee shirt:  "Failure to vote is not an act of rebellion.  It is an act of surrender."

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How Oregon Became the Easiest Place to Vote in the US

By Lornet Turnbull
YES! Magazine
October 8, 2016

 


In January, Oregon became the first state in the country to begin automatically registering eligible citizens to vote when they obtain or renew their driver's licenses or state IDs, completely shifting the burden of voter registration from the individual to the government. 

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