YOUR RAISE: NADA….THE BOSS’ RAISE: 84%….The Guardian reports that even over in socialist Britain executive pay is up. Way up:
Boardroom pay rose seven times as fast as average earnings last year, with the senior directors of the UK’s biggest 100 companies receiving an average 23% rise.
….Last year’s 23% rise is higher than the 17% recorded by the Guardian survey for the year 2001. A year earlier the rise was 28%.
Too lazy to do the math to figure out what that means? No problem, that’s what I’m here for: that’s an 84% increase over the past three years.
And this is during a time when the share prices of these companies have fallen by 50%, workers are being laid off to cut costs, and corporate earnings have been anemic.
When are shareholders and workers going to start seriously revolting against this kind of obscenity? Isn’t the law of supply and demand ? not to mention being paid for performance ? supposed to apply to executives too?