Reply #27: I've searching for that [View All]

[dusty64]

and no luck so far.

Michael Eisner vs. Vietnamese Laborers



If greed is good, as Michael Douglas infamously stated in the movie "Wall Street," then Disney CEO Michael Eisner must be a saint.
Last year, the Disney executive received compensation of more than $575 million. On top of his $750,000 salary, Eisner claimed a $9.9 million bonus and cashed in on $565 million in stock options.
This is not the first mega-pay haul for Eisner. From 1991 to 1995, he took in $235 million. A decade ago, in 1988, he collected more than $40 million -- a compensation package which led to shrieks of outrage.
In Eisner's defense, it can be said that giant salary grabs are increasingly the norm among big company CEOs. Among the heads of the largest U.S. corporations, CEO average compensation is $5.8 million. CEO pay rose 54 percent from 1995 to 1996 (final 1997 figures are not yet in) and have risen almost 500 percent since 1980.
Skyrocketing CEO pay does not represent a massive expansion of the economic pie from which all corporate stakeholders are benefiting. While executive pay increases partly reflect rising returns to shareholders, workers have received almost none of the benefits showered on those at the top.
Average hourly earnings for working people have actually dropped since 1980, from $12.70 (in 1996 dollars) in 1980 to $11.81 in 1996. The ratio of big company CEO pay to factory workers' wages has ballooned from 44-to-1 in 1965 to more than 200-to-1 today.
There is no sharing of the economic pie here.
Rising executive compensation and flat or declining wages for workers both reflect a single reality: the diminished power of organized labor.
If enough CEOs start taking home Eisner-like wages, then public outrage may work to curb executive compensation. But it is hard to imagine a concerted effort to rectify the imbalance in executive and worker pay in the absence of a resurgent labor movement. There are no signs of self-restraint or enlightened generosity among the employer class.
As severe as the wage disparity is between U.S. executives and U.S. workers, however, the differential between the executives and Third World workers at whose expense they increasingly profit is staggering.
Disney, to its everlasting shame, has in recent years outsourced production of Disney clothing and toys to sweatshops in Haiti, Burma, Vietnam, China and elsewhere.
http://multinationalmonitor.org/focus/focus.9812.html