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Wed Jun 27, 2012, 04:09 PM

 

Retirement: Where Corporate Executives Make the Real Big Bucks

http://www.calitics.com/diary/14373/retirement-where-corporate-executives-make-the-real-big-bucks

Many people don't realize that over the course of the last few decades, corporations have essentially spiked their top management's retirement pay as they exit, adding bonuses, stock options, perks and other incentive compensation to their retirement benefit calculations, exponentially increasing the total amount of money they will receive once they are no longer providing any services to the company. This has occurred at the very same time these corporations have restructured and eliminated pension benefits for average workers, and as public pensions are decried as exorbitant and unsustainable...

Wall Street Journal investigative reporter Ellen Schultz's book, Retirement Heist: How Companies Plunder and Profit from the Nest Egg of American Workers.... contains hundreds of examples of how companies have raided previously overfunded pension plans to boost earnings and provide golden parachutes to executives while eliminating pension and health benefits for average workers. This video clip of her being interviewed recently by John Stewart demonstrates the scope of the problem.

http://www.teluglobe.com/tg-roundup/ellen-schultz-author-of-retirement-heist-on-the-daily-show

I learned something more appalling this morning. Investigative journalist, Ellen Schultz sheds light on corporate shenanigans that boost executive retirement packages at the expense of regular employees. Did you know that GE executive pension fund is $6 billion? Or, that Nestle, Walmart and Disney lobbied congress so that they can take life insurance policies on their employees? Watch it to learn more appalling things about how far these ‘executives’ have taken the ‘free markets’ to!

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Reply Retirement: Where Corporate Executives Make the Real Big Bucks (Original post)
HiPointDem Jun 2012 OP
Angry Dragon Jun 2012 #1

Response to HiPointDem (Original post)

Wed Jun 27, 2012, 05:13 PM

1. kick

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