Home > The Noise Machine, Truthiness > Bring me the world’s smallest violin

Bring me the world’s smallest violin

American CEO’s have to be some of the world’s biggest crybabies. According to the Rochester Business Journal, the latest boo-hoo-hoo fest shows business execs ranking New York as the second-worst state in which to do business, based on a survey reported by CEO Magazine.

So why the violins? Because according to the AP, “CEOs at the nation’s largest companies were paid better last year than they were in 2007, when the economy was booming, the stock market set a record high and unemployment was roughly half what it is today.” Recession, what recession?

Let’s dig into the survey first. Here are the 5 lowest-ranked states: California, New York, Illinois, New Jersey, Michigan. And here are the 5 states the CEOs love: Texas, North Carolina, Florida, Tennessee, Georgia. Does anyone notice a pattern? They really dislike heavily populated states that are struggling due to the ongoing Great Recession — a near-collapse triggered by Big Finance malfeasance, you may recall.

Explaining the stuffed-shirt cry-athon, Chief Executive CEO Marshall Cooper said, “Today’s soak the rich mentality hits business leaders especially hard. CEOs and entrepreneurs vote with their feet, and also pack up jobs and investment with them when they leave.”

Times are so tough for these jokers. The median pay package for the CEO of a company in the S&P 500 rose to $9 million, a full 24% higher than the year before. AP’s Rachel Beck reports:

Executives were showered with more pay of all types — salaries, bonuses, stock, options and perks. The biggest gains came in cash bonuses: Two-thirds of executives got a bigger one than they had in 2009, some more than three times as big.

Are these guys taking The Donald as their role model? Non-stop blowhard antics, cries and moans about Democratic presidents and governors, barely-veiled threats to move their business to some low-tax haven…they seem to be drinking a little too much Ayn Rand koolaid.

Bill Sez: Remember, Xerox moved its corporate HQ from Rochester to Connecticut years ago so top execs could avoid paying state income taxes. This greed mania has infected C-suites forever. But let’s not confuse it with principle.

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