“We have no evidence that C.E.O.’s are fashioning, with their executive leadership, more effective and efficient enterprises,” the study concluded. “On the other hand, ample evidence suggests that C.E.O.’s and their corporations are expending considerably more energy on avoiding taxes than perhaps ever before — at a time when the federal government desperately needs more revenue to maintain basic services for the American people.”
Verizon, which earned $11.9 billion in pretax United States profits, received a federal tax refund of $705 million. The company’s chief executive, Ivan Seidenberg, meanwhile, received $18.1 million in compensation. The online retailer eBay reported pretax profits of $848 million and received a $113 million federal refund. John Donahoe, eBay’s chief executive, collected a compensation package worth $12.4 million, the study said.
Trickle up economics makes the world go ‘round.
Verizon, who’s pitching a fit worthy of the most hyperactive and poorly-raised 2-year-old over paying most of its workers decent benefits, is on this list.
(Related dirty fucking hippie idea of the day to fix the economy: why don’t we outsource CEOs? I’m convinced most of them are not Steve Jobs-like in their ability anyway, and wouldn’t it be more democratic and in the spirit of “free market competition” glibertarians love so well if no one person were in charge of a company anyway?)