It is said the definition of insanity is repeating the same action over and over again and expecting a different outcome.
Its been reported a number of US execs have been given cushy retention bonuses in response to their companies declaring bankruptcy. This just doesn’t sit right. Has executive compensation departed so far from reality? Probably, this has been happening for years now.
The companies themselves will claim its to retain top talent, creditors on the other hand feel its a methodology that rewards failure. Its hard not to agree, when these payments are dolled out weeks before workers are sacked and payments to lenders is denied.
Whatever happened to an honest days work for an honest days pay? Dead it seems. A 2019 study by the Economic Policy Institute found between 1978 and 2018 CEO comp grew by 1007%, typical workers wages growing by 11%. Happy Friday!
