The CEO Pay Machine: How it Trashes America and How to Stop it
| Author | : | |
| Rating | : | 4.31 (761 Votes) |
| Asin | : | 0735212392 |
| Format Type | : | paperback |
| Number of Pages | : | 288 Pages |
| Publish Date | : | 2013-03-24 |
| Language | : | English |
DESCRIPTION:
He uses real-life examples of the top four CEOs named the highest paid in 2011 through 2014. firms and their workers is higher than ever before—depending on the method of calculation, CEOs get paid between 300 and 700 times more than the average worker. As Clifford sees it, the payment structure for CEOs begins with shared delusions that reinforce one other: Once this groupthink is accepted as corporate dogma, it becomes infinitely harder to see any decision as potentially irrational or dysfunctional. Yet, as Clifford notes, the Pay Machine has caused immeasurable harm to companies, shareholders, economic growth, and democracy itself. Clifford examines how board directors and compensation committees have directly contributed to the rising salaries and bonuses of the country's richest executives; what's more, Clifford argues, each of those companies could have paid their CEOs 90 percent less and performed just as well.Witty and infuriating, The CEO Pay Machine is a thorough and incisive critique of an economic issue that affects all American workers.. The former top CEO examines the scandalous and corrupt reasons behind obscene pay packages for corporate executives—and explains how this hurts all of us--and how we can stop it. Today,
"A Jewel" according to Paul Tierney. The author has done some impressive research on the statistics and trends in CEO compensation, and he also has the personal background to be insightful as to how the offensive practices were set in motion and compounded by Boards of Directors and regulators. Its also a fun book to read as the writing is mirthful and readable. On the whole, this is a great book for anyone interested in the subject matter. Whether you agree or disagree with the conclusions, . mark twain said The inside story of the CEO Pay Machine. What's the story on CEO pay? How come some CEO's make $5 or $6 million or more a year while millions of Americans work two jobs and still can't pay their rent? Steve Clifford, a CEO himself, shows us how it works. If you could run the CEO Pay Machine, you too could go from $75 thousand a year to $5.8 million overnight! Clifford gives the reader statistics and financial information in great detail, but he makes his point with wit and flair. A humor writer f. "An essential read" according to Thomas W. Griffin. With rampant ongoing inequity in our country, with a system where executive CEOs earn 276 times as much as the average employee, where exorbitant CEO bonuses are not tied to performance and resemble nothing more than participation trophies, and where angry Americans no longer trust the system, it’s about time somebody wrote this book. The CEO Pay Machine by Stephen Clifford accurately describes how out-of-control CEO compensation “Trashes Ameri
He holds a BA from Columbia University and an MBA from Harvard Business School. Steven Clifford served as CEO for King Broadcasting Company for five years and National Mobile Television for nine years. He has been a director of thirteen companies and has chaired the compensation committee for both public and private companies.
Licensed larceny in the corner office helped elect a populist demagogue to the White House. But its main task is to pry apart the mechanisms by which companies enable CEOs to collect vast sums with little downside risk."--Seattle Times“Clifford imagines a better future—one in which compensation packages would be simplified, CEO pay would be downsized, and incentives would be properly geared toward companies’ long-term successThe issue of executive pay is sometimes dismissed with the argument that in a big corporation a few million more or less doesn’t matter. But …distorted incentives do matter. "As Clifford shows with clarity and wit, using plentiful real-world examples, the CEO Pay Machine has mech