Sunday, January 29, 2012
Remember Why People Occupy: Peer Benchmarking; CEO Payoffs
Occupiers feel that the "leaders are not listening" or paying attention to their concerns about the failing of our country. "The banks have been bailed out but the people have been left out"
Some CEO's have been leaving their corporations with high payoffs:
USA News reports that, "Nabors Industries' former CEO, Gene Isenberg, due $126 million when he exits as chairman, and IBM CEO Sam Palmisano, due $170 million. They follow Google's Eric Schmidt, who received $100 million in stock after leaving as CEO."
"Incoming inequality, global greed" Protesters say that their is less communication, more meetings, the "movement has been given an alienation of their voice". The gap between rich and poor, but what is their next move to have their voice heard and to make changes.
Do they need to enter into politics?
"We speak so much truth, the other candidates, do not make a difference, and we stand to make that difference in real values." This is a comment by occupiers who decided to go out and start feeding the poor.
"We are not going anywhere until you address our grievances" In Tennessee, oppose the rise of taxes to the poor by 3%. "We want a bottom up Democracy". "Our representatives are easily bribed by the rich and the corporations, will you take our bribe to work for us?
The Washington Posts explains that the corporate world sets executive pay known as "peer benchmarking, to keep the talented corporates from leaving. "This is how it’s done in corporate America. At Amgen and at the vast majority of large U.S. companies, boards aim to pay their executives at levels equal to or above the median for executives at similar companies. Amgen's board just decided to give Sharer $21 million annually, a 37 percent increase than the previous year.
Research has found that "90 percent of major U.S. companies expressly set their executive pay targets at or above the median of their peer group. This creates just the kinds of circumstances that drive pay upward."
The Washington Post reports, "Since the 1970s, median pay for executives at the nation’s largest companies has more than quadrupled, even after adjusting for inflation, according to researchers. Over the same period, pay for a typical non-supervisory worker has dropped more than 10 percent, according to Bureau of Labor statistics."
Now do we remember why we still Occupy?