The rich get (a lot) richer

Shareholders need to put a stop to the top execs of companies taking much more than what they should be. They are essentially stealing money from the shareholders.

http://www.alternet.org/blogs/peek/141481/executives_receive_one-third_of_all_pay_in_the_u.s./

Executives and other highly compensated employees now receive more than one-third of all pay in the U.S., according to a Wall Street Journal analysis of Social Security Administration data — without counting billions of dollars more in pay that remains off federal radar screens that measure wages and salaries. Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total U.S. pay in 2007, the latest figures available. The compensation numbers don’t include incentive stock options, unexercised stock options, unvested restricted stock units and certain benefits.

Gee, I wonder if the top execs got the lion share of stock options and other benefits.

And this:

Between 1979 and 2006, the inflation-adjusted after-tax income of the richest 1 percent of households increased by 256 percent, compared to 21 percent for families in the middle income quintile.

Giving bonuses based on stock price is BS - most of the gains and losses have little to do with the performance of the top execs. And now that earnings and revenues are cratering guess who is still raking in bonuses and huge pay. Do you think any of the execs that got big pay-offs in 2006 and 2007 are willing to give any of the money back now that the stock prices for their companies has crashed? Not a chance. Take the money and run (ie take a golden parachute when things get real bad). Shareholders need to put a stop to this crap. It's out of control. The US is rapidly becoming a banana republic.