Executive Excess 2010: CEO Pay and the Great Recession

Source: Sarah Anderson, Chuck Collins, Sam Pizzigati, Kevin Shih, Institute for Policy Studies, 2010

From the summary:
Over 15 million workers were fired from their jobs from January 2007 through December 2009, according to the Bureau of Labor Statistics.

Keep that in mind while looking at these numbers from IPS’s just-released 17th annual Executive Excess Report, CEO Pay and the Great Recession:

* Fred Hassan, the ex-CEO of Schering-Plough, received a $33 million golden parachute when his firm merged with Merck in late 2009. The merger led to 16,000 workers being fired.
* William Weldon of Johnson & Johnson took home $25.6 million, more than three times as much as the S&P 500 CEO average, at a time when his firm slashed 9,000 jobs and while the company was facing a massive drug recall scandal.
* Mark Hurd of Hewlett-Packard, currently famous for failing to cover up a relationship with a contractor/erotic film star, has been awarded $24.2 million for laying off 6,400 workers. On top of that, he received an additional $28 million in severance.

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