I had to read the article below twice because I found it hard to believe that some one would replace real life vegetation like grass with a sort of artificial carpet.
What makes this even more bizarre is the fact that I have been writing and advocating for natural lawns of wildflowers and other alternatives to the carefully mowed lawns which cost so much in fuel and environment degradation. I had come to believe that there was a generally broad movement to a genuine appreciation of nature and then I see this man acquire an artificial lawn.
(It turns out I am little short of pictures of grass. So, this lion is sitting on “grass” and has expressed his lack of satisfaction in the Astro-Turfing as you can see. jp)
The article is highly critical of the practice and it doesn’t appear to save money or retain its “attractiveness” over time.
The article linked to below is entitled Homeowner sparks backlash after showing off newly landscaped yard: ‘Why would someone voluntarily live this way?’ and is written by Sarah Winfrey. It is from The Cool Down.
According to Clean Water Action, artificial turf poses health risks due to the plastics and other potentially damaging chemicals it contains.
Artificial turf and other plastic-based gardening solutions leach chemicals and toxins into the earth, which is harmful to human health and can contaminate soil for decades to come.
Per Real Homes, fake turf can be a deceptively high-maintenance approach to lawn care and landscaping, requiring significant maintenance to keep it presentable. On top of that, it can burn in the sun, and constant exposure to the elements degrades it over time.
Let me be upfront here. I live in an apartment and the only thing around this building is cement. But I live in a community with many homes and lawns. I live near parks and nature tracks and there is good sized federal park north of here.
I do appreciate nature and I want you, my kind readers, to make good choices so let me even thought I don’t have a lawn recommend a good lawn choice for you.
A few days ago, there was an attack on the CDC by a gunman. Our current regime hardly bothered to take note but the CDC is home to scientists and highly professional experts in their fields. These are the dregs of humanity in the eyes of our oligarch managed masses of barely literate malcontents currently occupying the highest offices in Washington. And so, the shooting did not trouble our government.
But those who have spent their lives working to protect and improve the lives of all Americans resent being shot at by crazy people and disparaged by their current “leadership.” That is not surprising. What is also not surprising is that they are publicizing their discontent.
They have published a signed letter demanding change and one of the changes is for Kennedy to stop spreading misinformation.
That first paragraph quoted from the letter found below is a mountain of eloquence and it may find its way into the future history books once we escape the clutches of the current regime.
(A picture from The Adventures of Sherlock Holmes showing Sherlock and a criminal.)
Below is a report from Time magazine entitled Hundreds of Public Health Workers Call on RFK Jr. to ‘Stop Spreading Inaccurate Health Information’ After CDC Shooting written by Chantelle Lee.
“The attack came amid growing mistrust in public institutions, driven by politicized rhetoric that has turned public health professionals from trusted experts into targets of villainization—and now, violence,” public health workers said in the letter, which was also addressed to members of Congress. “CDC is a public health leader in America’s defense against health threats at home and abroad. When a federal health agency is under attack, America’s health is under attack. When the federal workforce is not safe, America is not safe.”
The public health workers went on to accuse Kennedy, a prominent vaccine skeptic, of being “complicit in dismantling America’s public health infrastructure and endangering the nation’s health by repeatedly spreading inaccurate health information.” They cited several statements and actions that Kennedy has made in recent months, pointing to his claim that mRNA vaccines “fail to protect effectively” against upper respiratory infections such as COVID-19—despite years of research showing that the shots are both safe and effective—and his announcement that HHS would be winding down mRNA vaccine development. They also condemned his decision to remove all the experts from a critical vaccine advisory committee. And they said some of Kennedy’s past comments—such as claiming that there is a “cesspool of corruption at CDC”—were “sowing public mistrust” in the health agency.
Will Kennedy stop spreading lies and misinformation? Don’t be ridiculous! In this administration, lies and misinformation constitute the very core of their being. They are living evidence of an accumulation of half assed beliefs, ill formulated concepts and huge masses of things they would like to be true but aren’t. He isn’t going to change. He owes his office to craven subservience to the “great” leader.
What are the ethics here?
These aren’t hard calls. The health care workers who have labored long and with amazing success to protect all Americans are heroes.
Right now they are being lambasted for doing their jobs. Many, a great many, are right now being fired in the name of “efficiency.” This government’s idea of efficiency is the destruction of a government that works and not just that but an embrace of a radical anti-science, anti-rational, belief system more befitting a basement dwelling conspiracy theorist than a working 21st Century government. It is all such a damned shame.
What is happening is wrong to the very center of the bone. There is not rational defense for what the government is doing.
When will this end? When will good, competent people return to rule?
Well, we will see if we can ride these horrors out.
The modern world has many hazards. Some of them are well known like e-coli and forever chemicals. But from time to time something news comes out to threaten our existence and today we have a new one, that is, radioactive shrimp.
Let us have a look at a news article reporting on this new threat. In a posting, an essay written by Richard Hall and Rebecca Schneid reports the following.
The Food and Drug Administration has warned the public not to consume certain frozen shrimp products sold at Walmart due to possible contamination with Cesium-137, a radioactive isotope.
It said the warning affects the Great Value brand of raw frozen shrimp sold at the superstore, adding that anyone who purchased the products should dispose of them.
A statement from the agency said the FDA was “actively investigating reports of Cesium-137 (Cs-137) contamination in shipping containers and frozen shrimp products” shipped from Indonesia.
(This is an illustration from one of Mark Twain’s travel books published in he 19th Century. We may presume in the current situation that he is retreating from radioactive shrimp. jp)
The article does a good job of explaining what industrial uses are made of Cesium-137 which is good substantial reporting but gives no clue as to how the shipping containers from Indonesia got contaminated.
It seems to me that in the future Wal-Mart might do radioactive checks on incoming goods. An Internet shows that radiation detection devices are quite inexpensive and readily available. In fact, Wal-Mart itself has a good variety of the devices which it sells online.
This incident is a rebuke to those that claim government is an unnecessary burden. Without the FDA and the US Customs and Border Patrol, we would never have known we were in any danger.
(The Great Seal of the United States is a public domain image.)
Several articles have been written about what comes after the current regime ends. One recommended that we create a “truth and reconciliation commission” in the manner of South Africa to restore civility and union. I deeply appreciate the sentiment but I do not believe that is possible in the United States, not any more. Another one I read called for mass prosecutions and prison sentences for the massive fraud, self-dealing, and law breaking that is a daily part of our news perpetrated by this administration and its sympathizers. That is very likely to happen and I expect it will happen.
Before I write any further, I want to make it clear that I do not believe that victory over these neofascists and their dim-witted followers is in any way guaranteed. I have to admit there are days when I think they just can’t be stopped. The lies, the impudence, the confidence and their unrelenting attitude of righteousness would cause all the saints of history to lose their composure. Some days it certainly ruins mine.
But let us assume for a few moments of optimism that we, the good guys, prevail over this scum. We know that we must act whenever and wherever possible to protest and throw barriers in the way of this regime. But let us talk just now of what comes after victory, after Trump is done, perhaps condemned and imprisoned.
I have been reading a book pictured below, a picture which I have borrowed from the internet. I believe this is okay under a fair use exception and since I am mentioning both that I read it and recommend that others buy it and read it, that I may perhaps be forgiven for using it.
This book by Daniel Todman is a very detailed history of Britain at war before the entry of the United States.
Why mention it here? Because just after the British had stopped the Germans from gaining air superiority over England, a number of people from the labor party as well as a group of the intelligentsia began to agitate for and develop a plan for after victory.
And that plan was very largely enacted and put in place when victory was won.
Can you imagine?
Great Britain stands alone. They are being bombed nightly by the Luftwaffe. Hitler has not yet invaded the Soviet Union and the United States seems to see no urgency in joining the conflict. And yet they assumed eventual victory. They had faith. I wish I had that kind of faith now. I wish we all did.
But in any case, what their example shows is that planning for after the struggle is vital and every bit as important as the struggle itself. There must not only be a cause worth fighting for but a set of goals to be achieved, a further set of purposes beyond simply prevailing.
I have some simple suggestions. But I want you to know that I am going to research and think about what is possible and what can achieved, so I may very well return to the topic on multiple occasions.
But here goes –
Fix the mess at the Supreme Court. Add six justices, impose term limits and a code of ethics – it has to be fixed.
Raise the minimum wage.
Universal Health Care, it’s time.
The end of the Imperial Presidency, a comprehensive set of laws and perhaps a couple of constitutional amendments to prevent this kind of power grab from ever happening again.
A complete overhaul of campaign law and among many other things no dark money ever again.
A National Guaranteed enforceable right to vote. No more of this gerrymandering nonsense.
A graduated income tax
Free college education
Free vocational training
And as 8. and 9. imply, a national never ending focus on the development of human capital in American.
We should be building a society devoted to the development of each individual so they they can live a full life of achievement.
At least, that is my poor opinion about what is necessary.
I am going to write about this more at length.
You may share your thought if you wish, but I have approval on all comments so post accordigly.
The struggle between Progressives and Corporate Democrats currently rages.
We live in what is often described as a free enterprise system, loftily described as free market. However, any examination reveals that we don’t do much free marketing in this country. There are many barriers to economic entry, a host of monopolistic segments of the economy, a horde of anti-capitalist non compete agreements and the list goes on an on. And then, of course, we could talk about a litany of economic villains evading the free market using government subsidies, tax breaks and regulatory capture besides the constant illegal dumping of pollutants, tax evasion and direct law breaking.
It is a wonder that you can look around at the American Business landscape and wonder how any intelligent human being could describe it as a free market.
But they do.
And now we come to the idea of a government, in this case, a city run grocery store. Shouldn’t we depend of the free market for groceries and much else?
Yeah, that would seem to be the general rule.
But what if capitalism, the free market, isn’t functioning correctly? One of the tenets of the free market is that when there is a need, the free market will adroitly jump in and fill it. Many people especially economists who are very often paid to maintain a fierce defense of free market principles. That is, they get paid to write free market propaganda and they often owe their jobs to the contributions and influence of the corporate elites and our corrupt and incompetent ruling class.
The truth of the matter, the facts of the matter, is that the free market fails on a regular bases in many areas of need and of necessity and generally speaking the powers that be don’t care.
Many parts of New York are “food deserts.” Large areas with no access within a reasonable distance to buy nourishing food.
Zohran Mamdani wants to change that. He wants to create number of stores where residents of the city can buy good food and a wide variety of food for themselves and their families. He wants to step in act on behalf of his constituents, the people of New York. He wants to help protect them from malnutrition and make sure they have a healthy diet. He wants the people of his city and their children to live long and fruitful lives.
Working for the people that elected you instead of your corporate donors is a very radical idea in the Democratic Party. And Mamdani has attracted the ire of what are very kindly called Corporate Democrats. I prefer other descriptive terms.
Is it a good idea? I think it probably is but as a man of some experience a lot depends on how the program is done, and the quality of the people creating and running it.
When I was a young man, I often wondered why a great program worked at the original site but no one could duplicate it. And then I understood. One visionary leader with capability and confidence can take what in hindsight is a not very good idea and make a roaring success of it. I’ve seen it done. Leadership and energy determine many things in this nation.
This sounds like a good idea. And when you have an innovative idea and young and energetic people willing to run it, it stands a good chance of success.
For a more in-depth view of this city run grocery idea, here is an essay linked to below.
In an article entitled: Here is everything you need to know about New York experimenting with city-run grocery stores, author Katalin Nagy discusses the Mayoral candidates idea for city run grocery stores.
In a recent interview with News 12 New York, Mamdani outlined the vision for a pilot program that would include launching one store in each of the city’s five boroughs. He also mentions that the plan would potentially be supported by $60 million in public funding.
These stores would be strategically placed in areas known as “food deserts.” These are neighborhoods where access to affordable, fresh groceries is scarce. The stores would primarily sell essential items at wholesale prices to help counter rising food costs.
Mamdani’s proposal is designed as a public option for groceries that would frame access to healthy food as a basic right. In campaign videos and public comments, Mamdani has stated that these stores would operate like a civic institution, similar to a fire station or public library, and would ideally eliminate middlemen to lower grocery prices.
Zohran Mamdani might be one of those leaders we so desperately need to replace the old tired face of the Democrats and to lead a better America where the wants and needs of the people come first.
Corporations find democracy at the very least inconvenient but in Missouri, the will of the people is not a problem. Pesky voters with weird ideas that would cost corporations money can be brought to heel with astonishing ease.
(We, the American people, suffer from unfettered corporate power. May vengeance live amongst us and justice return.)
In Missouri, corporate power clearly seen to undo and reverse democracy. Before I get into the details, let us discuss the right and wrong of it.
Why am I discussing this in a business ethics blog? Because it is wrong for corporations to run the government be it city, county, state or federal. “We the People of the United States,” in the preamble of the United States Constitution enshrines in law the power of the citizens, not corporate or monopoly power or even worse, our newly minted oligarchs.
The people of Missouri voted for paid time off for illness or illness in the family like that of a child. It wasn’t a narrow win, it was a big margin. The people had spoken.
But the legislature and the governor nullified the will of the people. Can you think of a sadder sentence? The men elected to do the will of the people, at the very least, the very least protect them. And they failed. They directly defied the expressed will of the people of their state.
It was evil and wrong of the legislature and the governor to do this. In a democracy the people rule. But not in Missouri.
The corporations and businesses that defeated the people’s will are in the wrong and they should suffer fro what they did. But the Republican super majority in the legislature protect them from the repercussions of their pitifully evil acts.
But there are currents in the lives of men, and the haughty attitude of the bought (should I say “rental”) men in the Republican Party will get their comeuppance in time.
Are there good people in Missouri who will not stand idly by and take this injustice? Where are the heroes who would reverse this evil act? Time will tell if they appear.
Here is the story from my friends at the Progressive Magazine authored by Eleanor J. Bader.
When 58 percent of Missouri voters approved Proposition A in November 2024, they assumed that the ballot measure’s passage would finally grant private sector workers the ability to take paid time off when they were sick or needed to care for an ailing family member. But they were wrong.
Although the paid sick leave policy took effect on May 1, 2025, allowing workers in companies with fifteen or more employees to earn one hour of paid leave for every thirty hours worked, the state’s Republican-dominated legislature opted to override the popular vote and overturn key parts of the measure just two weeks later. Governor Mike Kehoe signed the repeal into law on July 10.
The Cannonball Run was a 1981 action/comedy film starring Burt Reynolds and directed by Hal Needham. Not only silly and often in poor taste, it was entirely fictional. And this is important because if you do this stuff in real life … Well, it is not good.
An earlier movie with the same basic idea was made in 1976. The Gumball Rally was a racing film/comedy inspired by Cannonball Baker Sea-to-Shining-Sea Memorial Trophy Dash. These incidents (I’m not sure the word race actually fits these situations) were first and second a movie made for entertainment which by the way I very much enjoyed (the second one, anyway) and the third a series of five races covered and probably created by the magazine, Car and Driver, in the early 1970’s, were all very much pre-internet.
And of course, my dear readers, as you are well aware the Internet can mess up anything.
Currently we have some rather poor specimens of humanity who are also referred to as “influencers,” and they had to as always do something stupid. Although stupid may be too weak a word? Can you say Super Stupid? Is that a usable phrase?
Well, have a read and see what you think.
(Couldn’t find a race car in my data base of public domain pictures but this will do.)
In an article entitled, YouTubers drag raced through Grand Teton National Park. Park rangers had thoughts written by Jacqueline Kehoe, she explains what has just happened. In my opinion, we have a new and pitiful sort of Gumball Rally or one of those Cannonball things.
In a move that’s equal parts reckless and ridiculous, a group of luxury sports car drivers turned Grand Teton National Park into their personal racetrack — and paid the price for it.
On Tuesday, June 24, around 5 p.m., park rangers at Grand Teton National Park responded to reports of high-end sports cars drag racing along Teton Park Road — a serene, two-lane scenic route that skirts the base of the mighty Teton Range. The road, typically used by wildlife watchers, photographers, hikers, and families, became the site of an impromptu (and illegal) motorsport event. The result? Four drivers arrested, two cars impounded, and a slew of federal charges.
I really feel that you should read the article. Ms. Kehoe has a definite way with words, and you might pay particular attention to the names of the perps and, I don’t know, maybe share them on social media? It seems only fair.
After all they raced at high speed down a recreational road in a national park used by families and wildlife. I tend toward a certain level of hostility at them for this. You might very well feel that way too. The only reason they didn’t kill anybody was dumb luck.
If you want to race, find and hire a track. They’re are a lot of them.
Bugs Bunny is a cartoon version of an idealized American. He embodies many American virtues. He is not greedy and content with having just enough. Many simple pleasures make him happy. He loves a good meal, meeting new people, travel and a good joke. He is courageous and does not tolerate abuse or injustice. He is the very soul of patriotism, (He is an honorary United States Marine!)
(This is a 1912 picture from a book of stories. Alas, there is no picture of Bugs that is not under copyright protection.)
I used some of his cartoons in my classes to illustrate several different economic concepts. Like most Americans he does not aspire to be rich, he aspires to have “enough.” In the cartoons, his concept of “enough” boils down to a comfortable rabbit hole, food to eat, (many cartoons show him as visiting stores or cultivating food). He is often seen in bed reading what we assume is a good book.
The plot of the story in the cartoons revolves around Bugs’ response to the slings and arrows of outrageous fortune. Various hunters, crooks, con men, grifters, mad scientists, monsters and the occasional vampire show up to steal from him, harm him or just kill him. Bugs defeats his opponents by determination, humor and inventiveness, qualities that Americans with considerable justification believe they have in abundance.
Using him as an economic example generally involved his less meritorious sometimes friend and often enemy, Daffy Duck.
The Economics of Bugs Bunny and Daffy Duck
In one cartoon I used “Ali Baba Bunny” (1957), Bugs and Daffy find the fabled treasure of Ali Baba, a huge and sprawling treasure similar to a dragon horde, which is promptly claimed in total with no justification whatever by Daffy – with the following line:
While Bugs is content with what he has, Daffy is the “other” American, the grasping “get rich quick” fool who never stops looking for some easy way to make piles of money. If that wasn’t bad enough he is perennially incompetent and constantly goes into situations over his head.
Of course, whenever you encounter treasure there must be a guard. Bugs saves Daffy from certain death at the hands of “Hassan,” although repeatedly the cowardly duck tries to betray him. Daffy’s greed keeps getting him into danger and eventually Bugs leaves him to his dire fate.
Daffy at one point bundles every last coin up for his own use while Bugs simply continues on his journey taking nothing, content with what he has and unwilling to take what isn’t his.
It’s a good lesson and I usually add examples of treasure hunters spending their lives in the fruitless search for immense wealth. You know pirate treasure, the lost Dutchman mine, gold prospecting and the list goes on.
In another cartoon showcasing his immense greed, Daffy captures the Tasmanian Devil. In the 1957 short feature, Ducking the Devil, Daffy a loudly self-proclaimed coward discovers that there is a 5,000 dollar reward for returned the escaped Tasmanian Devil to the zoo.
Daffy after many misadventures lures the creature back into its cage and collects the money. While he is walking away, a single dollar bill is caught by a breeze and carried into the monster’s cage, where upon an outraged Daffy charges in, beats the creature to a pulp and recovers his dollar. (My Chinese exchange students really enjoyed this cartoon.)
I use cartoons, short movie clips, jokes, etc. to lead into discussion of the more intricate points of law, of capitalism, the American Experience — you know – Teaching.
Why use cartoons and all the myriad things I find to interest my students?
It was my transcript.
As you might imagine I am quite capable as a student (317 college hours later). So, I have a large transcript and I happened to be looking at it and I realized there were many classes I had no memory of. I could not picture the instructor, remember the textbook and to my ultimate despair, none of the coeds I flirted with. It made me sad.
And so I decided to teach in an unforgettable manner. I took whatever subject was in hand (I’ve taught 23 different courses and I am qualified to teach quite a few subjects I never got around to teaching.) and divided it into a set of critical lessons. My Business Law course, one of them, boiled down to thirteen critical lessons.
Okay, very good, I knew what to teach. How to get it across? Not hard. Stories! At first I told stories from the law. Stories I’d learned in law school and from my wide reading. Then I added jokes and then I read large story collections and picked out a chosen few. Then I began my use of classic movies and I added discussions of literature, history, sociology and the struggles of Americans toward greater freedom, minorities and women. Every day I combed the Internet, magazines and sometimes just stuff I observed always looking for that hook that would catch their interest.
Years after being in one of my courses, students will remind me of a story I told, or a movie they watched or a class discussion they never forgot.
I think I did okay. I miss teaching.
But I will maintain against all opposition that Bugs Bunny has his place in Business Law and Business Ethics.
The good guys, the guys in the white hats, our modern Hop-Along Cassidy’s, do not win many victories these days what with the scoundrels running the government but sometimes the good guys win one. And today is one of those days.
Here is the headline, the link and a quote.
Conservative network Newsmax agrees to pay $67M in defamation case over bogus 2020 election claims
The conservative network Newsmax will pay $67 million to settle a lawsuit accusing it of defaming a voting equipment company by spreading lies about President Donald Trump’s 2020 election loss, according to documents filed Monday.
The settlement comes after Fox News Channel paid $787.5 million to settle a similar lawsuit in 2023 and Newsmax paid what court papers describe as $40 million to settle a libel lawsuit from a different voting machine manufacturer, Smartmatic, which also was a target of pro-Trump conspiracy theories on the network.
If you have a genuine enjoyment of humor, go down further in the article and read how Newsmax claims that they did nothing wrong. “We stand by our coverage as fair, balanced, and conducted within professional standards of journalism.” I can’t help but think that paying sixty-seven million dollars certainly gives one the impression that someone did some wrong-doing.
Will the Right Wingers ever accept the 2020 elections as legitimate after an unbroken stream of court losses of which this one is just the latest? Not a chance. Their self identity demands victimhood and not just victimhood but giant international conspiracies to justify their foul language and overwrought histrionic emotions.
It is a real pity that the court results have a limited effect in this strange world of politics we live in.
But still a good win, a great victory.
You can make a strong argument that those who had to pay out all this money are being punished although Newsmax claims otherwise. I would bet you real money they are more judicious in their language in the future.
Starbucks’ CEO, Brian Niccol, made 6,666 times more than his average worker last year, according to a report on the growing gap between top executives and their workers.
The inequality gap between CEOs’ pay and that of their median workers rose in 2024 to 285 to 1 from 268 to 1 in 2023, according to a report released this week by the largest federation of labor unions in the US, the AFL-CIO.
I will freely disclose that I find the CEO in question, Brian Niccol, reptilian and repulsive, and that is beside the fact that he is paid way too much.
But there’s more. Here’s an article from 2023 By Nik Popli. He writes about an investor advocacy group that calls out CEO’s who get generous pay packages while their companies suffer losses particularly in shareholder returns. I recommend you read the entire article.
The typical CEO of a company listed on the S&P 500—a stock market index with 500 large publicly traded corporations—earned $18.8 million last year. That’s up roughly 21% from 2021, even though the S&P 500 index was down 20%. Company boards gave particularly big grants of stock to reward those in charge of navigating their companies through high inflation, continued supply chain problems, and rising wages—as well as meeting performance metrics.
But an investor advocacy group says some of the nation’s most well-known companies overpaid their chief executives. A new report from As You Sow listed 100 “overpaid” CEOs who received high compensation in 2022 despite mixed shareholder returns for their companies.
At the top of the list: Warner Bros. Discovery’s David Zaslav, who received $246 million in 2022 even though the company’s stock fell 60% in the same year and roughly 40% of shares voted against his pay package. The second most overpaid CEO was Estée Lauder’s Fabrizio Freda, who earned $66 million in 2022 while the company’s stock fell 33%. Penn National Gaming’s Jay Snowden, who was paid $65.9 million, comes in at no. 3 on the list; his company’s stock fell 42.7%.
And for the year before, we have the magazine Fortune in an article by Chris Morris, Maria Aspan entitled rather directly These are the 10 most overpaid CEOs in the 2022 Fortune 500. Once again, I liked the article and recommend you read it in full.
Overall hourly U.S. wages fell 2.4% on average last year (after adjusting for inflation), but the median total compensation of CEOs Fortune studied as part of this year’s Fortune 500 ranking jumped 30% from a year earlier to $15.9 million.
That made us curious. Did those CEOs deserve the compensation packages they received? Fortune’s Maria Aspan and Scott DeCarlo analyzed the compensation and stock performance of the 280 Fortune 500 CEOs who have held their jobs for at least three years, ranking them on pay vs. performance.
Apparently factual analysis based on the statistics of market performance does not paint an appealing picture of CEO pay. I am not surprised. The media celebrates these figures as fearless leaders and innovative entrepreneurs with little actual examination of the facts. And the way corporate power is structured, an obedient board of directors is just a matter of time for an aggressive CEO.
The Progressive Shopper posts the “Overpaid CEO Score Card.”
The list identifies the 100 Most Overpaid CEOs from the S&P 500 index, highlighting those CEOs deemed excessively compensated based on their performance. It specifically focuses on CEOs who were addressed at annual meetings held between July 1, 2022, and June 30, 2023. This year’s findings also incorporate insights from annual voting patterns and regression analysis conducted by HIP Investor.
Mentioned previously was the Shareholder Advocacy Group, “As You Sow.” This is a ten year study they published about CEO compensation entitled 10 Years of Study Shows Overpaid CEOs Underperform.
Listed below the link are its most damning conclusions.
Companies with the most overpaid CEOs have had lower returns to shareholders than the average S&P 500 company. The typical S&P 500 firm made 8.5% per year annualized from February 2015 to September 2023, the 100 Most Overpaid CEOs’ annual returns lagged at 7.9%, the worst 25 dragged at 6.0%, and the ten worst were behind at 6.5% per year. As a group, over a decade, overpaid CEOs underperformed.
Total pay for the most overpaid CEOs continues to grow. When As You Sow compiled its first overpaid CEO list ten years ago, the average pay of the 10 Most Overpaid was $56 million. This year, the average of the top ten was $88 million, an increase over that time period of 59%.
There were more articles and many opinion pieces. All these sources saying that CEO’s are over paid — and, yet, they continue to be overpaid!
But it seems likely that AI and an increasingly darkening economic horizon under our current regime’s bizarre decision making may very well diminish these payouts.
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