PLAINVIEW, NY, October 13, 2008
/24-7PressRelease/ -- With exorbitant compensation always on the minds of shareholders, Jerry Goldberg, CPA has prepared his 4th annual list of the top 2,500 executive positions of the Fortune 500.
"With greater amounts going to the executives, there is less to go to shareholders and other employees," stated Goldberg.
Aside from confirming the average CEO's compensation in 2007 was $12.2 million, a decrease of 11.6 percent from 2006, Goldberg details the additional executive compensation received by other senior executives on the management team. "All public companies have at least four other executives who report to the CEO: many of these executives are also handsomely paid," said Goldberg. "I have prepared a list of the top 2,500 top executive positions of the Fortune 500 companies, and what they are paid. I call the list "The Fortunate 2,500 of The Fortune 500." The total compensation paid to the "Fortunate 2,500" in 2007 was $13.8 billion or an average of $5.8 million per executive."
Why is this important?
For shareholders
As more profits accrue to the top executives, there is less left over for the shareholders in the form of dividends, or earnings per share.
For employees
The inflation-adjusted pay of the average worker in the United States has stagnated over the past two decades. Twenty years ago, the ratio of CEO pay to the average worker pay was approximately 10:1. The ratio in 2007 was a whopping 254:1. This is clearly out of line.
For society
Money is "Power." Not only does it buy goods and services but also political influence. Too much wealth has accrued to too few people, an unhealthy society where one class of workers can become an aristocracy at the expense of everyone else.
What can be done?
Goldberg provides commentary that includes a Hall of Fame for the top ten highest paid CEO's, and the top ten companies with the highest paid executives. See why all this is important to the public and what can be done to get things back into a reasonable balance.
Press Release submission By PressReleasePoint(http://www.pressreleasepoint.com)
Press Contact:
Jerry Goldberg, CPA
jgfortunate2500list.com
255 Executive Drive, Ste 303
Plainview, NY 11803
516-349-0884
jerlaurie2@yahoo.com
http://jgfortunate2500list.com
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