Top Leaderboard, Site wide
Shop the Truthdig Gift Guide 2014
December 22, 2014
Truthdig: Drilling Beneath the Headlines
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed

Get Truthdig's headlines in your inbox!

The Duck That Roared

Truthdig Bazaar more items

Ear to the Ground

Recession? CEOs Are Over It

Email this item Email    Print this item Print    Share this item... Share

Posted on Apr 10, 2011
Flickr / zio Paolino

General Electric, like many U.S. corporations, had a big fourth quarter. It earned nearly $4 billion for the period.

Capitalists need not fear, as the reduction in CEO pay during the recession appears to be an artifact of the recent past, with corporate executives now raking in as much as they did before the financial slump—and some even more.

The fat salaries of executives flies in the face of the country’s high unemployment and cuts in workers’ wages, benefits and rights. —JCL

The New York Times:

After shrinking during the 2008-9 recession, paychecks for top American executives are growing again—in many cases, significantly so.

Rarely has the view from the corner office seemed so at odds with the view from the street corner. At a time when millions of Americans are trying to hang on to homes and millions more are trying to hang on to jobs, the chief executives of major corporations like 3M, General Electric and Cisco Systems are making as much today as they were before the recession hit. Indeed, some are making even more.

The disparity is especially stark as companies are swimming in cash. In the fourth quarter, profits at American businesses were up an astounding 29.2 percent, the fastest growth in more than 60 years. Collectively, American corporations logged profits at an annual rate of $1.678 trillion.

Read more

More Below the Ad


Square, Site wide

Get truth delivered to
your inbox every week.

Previous item: House Rejects FCC’s Net Neutrality Rules

Next item: Mubarak Speaks Out, Denies Corruption

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By thenewest3rdworld, April 13, 2011 at 8:39 am Link to this comment
(Unregistered commenter)

Stories relative to this keep popping up all over the
internet. “Amerigreed! The Newest 3rd World Country”

Report this

By frecklefever, April 10, 2011 at 4:26 pm Link to this comment


Report this

By gstoddard, April 10, 2011 at 2:13 pm Link to this comment

In addition to the recovery in earnings, the executives can look forward to a tax
cut if Ryan’s budget proposal is approved, while the rest of us can anticipate a
reduction in government services to reduce the deficit.

What a country.

Report this
Monsters of Our Own Creation? Get tickets for this Truthdig discussion of America's role in the Middle East.
Right 1, Site wide - BlogAds Premium
Right Skyscraper, Site Wide
Right 2, Site wide - Blogads
Join the Liberal Blog Advertising Network

A Progressive Journal of News and Opinion   Zuade Kaufman, Publisher   Robert Scheer, Editor-in-Chief
© 2014 Truthdig, LLC. All rights reserved.

Like Truthdig on Facebook