May 15, 2006

Compensation of $1.6 billion in stock options for CEO

Compensation of $1.6 billion in stock options for CEO

United Healthcare CEO gets the loot while shareholders get the boot. Besides this, the bottom line now has to be lifted by way of cost increase to cover the scandal.

Overcompensation of company CEO’s by interlocking directorates and schemes boost CEO in public traded companies to unrealistic levels and the consumer has to pay. The Investment Business Daily reports that $23 million of past tax deductions are at risk if the account rules were breached. Either way, it’s a rip off 1st class. Anyone proposing incentives like this, let alone receiving them, needs to be put in jail!

Similar special interest schemes are enacted by public employees. 1: 5 One out of five employees for the state, local or federal government. Many get to retire in 20 years at 75% pay while the private sector has to toil 45 years with an uncertain pension. The lawyer lobbyist for these schemes also need to be put behind bars to protect the public. Excessive entitlement programs are robbing the working middleclass.

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