Wednesday, June 28, 2006

American Dream' turning into a nightmare

American Dream' turning into a nightmare
Jun. 27, 2006. 01:00 AM
Toronto Star

That American CEOs last year earned 262 times the average pay of their own workers is no big deal. It's always possible that some of them actually earned all that money, or at least some of it.
What is, surely, something of a big deal is that according to Corporate Library in Washington, the chief executives of the 11 largest companies in the United States earned a combined $865 million over the past two years at the same time as their shareholders lost $640 million.
What, potentially, is an even bigger deal, is that one of the main activities of American executives these days is figuring out ways to cut the pay of their workers while at the same time hanging on to all they have.
Recently, General Motors CEO Rick Wagoner declared that it was time for the government to become "more proactive on health care."
What Wagoner meant was that Washington should take over much, if not all, of GM's health-care costs, which starts at $1,500 for each car the company makes and is a major reason it's close to bankruptcy....