Thursday, 28 August 2008

Chief execs earn less in unionised firms

This is from the US, would be interesting to see what the stats are like in the UK. Full article here.

A scathing report claiming that U.S. CEOs are earning outrageous pay packages while corporations fleece taxpayers through corporate bailouts and loopholes in capital gains, deferred compensation, stock option accounting and other financial rules was issued Monday by The Institute for Policy Studies, a Washington-based independent center for progressive research and education.

And, according to the Executive Excess 2008 report, CEOs at nonunion companies take home nearly 20 percent more than their fellow executives in unionized firms while workers in unionized organizations average $200 more each week than their nonunion counterparts.

Hat-tip: Iain R


Bill Quango MP said...

isn't Adam Cozier the highest earning CEO? Royal Mail isn't private yet is it?
{despite his best efforts}

Tom Powdrill said...

Hi Bill

I don't know, but I suspect not. I'll have a hunt around.


Tom Powdrill said...

Just had a quick look at BP - Tony Hayward got £2.15m in pay & bonus in 2007. Crozier got £1.25m.

But, and it's a big BUT, in the BP case that doesn't include share awards, options etc which obviously add a lot more.

Still think Crozier should have waived his bonus though...

Bill Quango MP said...

"*The Royal Mail, under attack for closing 2,500 post offices, has been accused of rewarding its bosses for "failure" after it was revealed chief executive, Adam Crozier, received more than 3m in pay, pensions and incentives in the last financial year."

The article basically agrees with you. I think Crozier maybe the highest paid Public sector boss, but I can't find the source.

Tom Powdrill said...

yep you're probably right. I'm getting the impression you've got a history in the industry Bill?

Bill Quango MP said...

Mail provision is just one of my many Quangos.