Hard Times?

By Lynn Koh
Jun 20, 2011

Not if you're a Silicon Valley CEO. According to the San Jose Mercury News, which does an annual survey of CEO compensation called 'What the Boss Makes,' CEO compensation increased 37 percent, while the median worker pay increased 1.6 percent.  Median profit for companies surveyed was $35 million.

As the article mentions towards the end, CEO compensation is increasingly tied to stock options and other 'performance-based' incentives -- in an attempt by corporate boards to justify the exorbitant paychecks of the ultra-rich.  The crucial effect of this shift is to promote extreme short-sightedness among the United States' economic elite -- which more and more worries only about the direction of stock prices.  Unfortunately, as we've experienced over the past two years, this does not meant that the system will devour itself; mainly, it means a harder slog towards an equal and fair society.

The views expressed here are those of the author and do not necessarily represent those of the entire War Times project

Lynn Koh is a long-time activist in the anti-war movement, and is a labor organizer in the Bay Area.

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