Performance Art: U.S. CEOs Do A Shockingly Lousy Job, Often at Your Expense, But Still Make Tons of Money Doing It
The 20th anniversary edition of Executive Excess, the paean to corporate greed and incompetence that is the Institute for Policy Studies' annual report on CEO pay and "performance," finds that 4 in 10 of America's highest-paid CEOs were "bailed out, booted, or busted" - ie: acted out gross errors in judgment that trashed the economy so thoroughly that you the taxpayer had to bail them out, got fired or was caught committing fraud. The rest generously facilitated their companies' getting their “performance-based” federal tax subsidies by paying their CEOs their usual 354 times what the average worker makes, because, currently, they can. Outrageous. Charts tell the tale.