Archive for the ‘Mission 2: Greedy CEOs’ Category

Nominate Your Choice for ‘Scrooge of the Year’

November 22, 2010 Leave a comment

It’s the holiday season and time once again to say “bah humbug” to the most cold-hearted and greedy CEOs, corporations and politicians who exemplify the spirit of Ebenezer Scrooge.

This is the 11th year that Jobs with Justice (JwJ) will “honor” the person or group that has done the most to “scrooge” workers. And the floor is open for nominations. Beginning today, you can nominate your candidate for Scrooge of the Year, along with a brief description of why he or she deserves the award by clicking here.

The winner will join an infamous group. Last year’s winner was the Chamber of Commerce. Voters singled out the Chamber for its narrow, radical agenda advocating anti-worker, profit-focused solutions to the broken health care, labor and environmental systems.

In 2008, voters picked the entire lot of Wall Street executives whose unchecked corporate greed led to our nation’s economic disaster.

via AFL CIO blog.


Top 10 CEOs in Prison

November 9, 2010 Leave a comment

Here are the top 10 CEOs of puclic companies in prison.

1. Jeff Skilling, former CEO of Enron – Serving 24 years for fraud, insider trading, and other crimes related to the collapse of Enron.

2. Bernie Ebbers, former CEO of WorldCom – Serving 25 years for accounting fraud that cost investors over $100 billion

3. Dennis Kozlowski, former CEO of Tyco – Serving 8 to 25 years for stealing $134 million from Tyco

4. John Rigas, former CEO of Adelphia Communications -Serving 25 years for bank, wire, and securities fraud related to the demise of Adelphia.

5. Sanjay Kumar, former CEO of Computer Associates – Serving 12 years for obstruction of justice and securities fraud

6. Walter Forbes, former CEO of Cendant -Serving 12 years for fraud

7. Richard Scrushy, former CEO of HealthSouth – Serving 7 years for bribery and mail fraud

8. Joseph Nacchio, former CEO of Qwest Communications -Serving 6 years for insider trading

9. Sam Waksal, former CEO of ImClone – Served 7 years for securities fraud (released last year)

10. Martin Grass, former CEO of Rite Aid – Served 6 years for fraud and obstruction (just released this year)

Greedy CEO: Michael Jeffries of Abercrombie & Fitch

November 2, 2010 Leave a comment

In 2009, Michael S. Jeffries received $36,335,644 in total compensation. This put Jeffries as the 8th highest paid CEO. By comparison, the average worker made $32,048 in 2009. Michael S. Jeffries made 1133 times the average worker’s pay.

While Jeffries was raking in the money, his employees were getting LAID OFF!

In April 2009, Abercrombie & Fitch announced that it was cutting 170 jobs at its home office in the wake of a steep decline in sales. That followed a January 2009 layoff where the company terminated about 50 employees at its New Albany headquarters, and confirmed that it would not fill dozens of open positions.

You’d think greedy CEO Jeffries could have given up 1% of his salary (approximately $363k) to help keep some jobs for his employees. Jeffries, you are a GREEDY CEO!