Download The CEO Pay Machine: How It Trashes America and How to Stop it AudioBook Free
The previous top CEO examines the scandalous and corrupt reasons for obscene pay deals for corporate professionals - and explains how this hurts most of us - and how we can stop it. Today, the pay difference between ceos of major US businesses and their employees is higher than in the past - depending on the method of calculation, CEOs receives a commission between 300 and 700 times more than the average worker. Such outsized pay is a relatively recent sensation, but despite all the outrage, few detractors truly understand the many factors that contain added to the dizzying upwards spiral in CEO payment. Steven Clifford, a previous CEO who has also dished up on many commercial boards, has a name for these methods and techniques: the CEO Pay Machine. The CEO Pay Machine is Clifford's detailed and shocking justification of the 'machine' - how it operates, how its parts interact, and how every step pushes CEO pay to raised levels. As Clifford recognizes it, the payment framework for CEOs begins with shared delusions that strengthen one other. Once this groupthink is accepted as commercial dogma, it becomes infinitely harder to see any decision as probably irrational or dysfunctional. Yet, as Clifford records, the Pay Machine has caused immeasurable injury to companies, shareholders, financial expansion, and democracy itself. He uses real-life examples of the very best four CEOs called the best paid in 2011 through 2014. Clifford examines how panel directors and payment committees have directly added to the rising salaries and bonus deals of the country's richest professionals; what's more, Clifford argues, each of these companies may have paid their CEOs 90 percent less and performed equally well. Witty and infuriating, The CEO Pay Machine is an intensive and incisive critique of an economic concern that influences all American employees.
