Help In These Times Survive the Recession and Reach Its 33rd Year! Please Donate Today.

Downsizing the CEO

Labor and shareholders unite to roll back executive power

By David Moberg

The omnipotent corporate chief executive emerged in the ’90s as a popular economic superhero, rivaling the high-tech nerd as creator of the economic boom. But that came to a crashing finale with misdeeds at Enron and dozens of other high-profile businesses—when a mix of executive greed, lawbreaking and deregulation built up then burst the stock market bubble. In the angry… return to article

  • subscribe to print magazine

  • Zoom OutZoom In Reader Comments (3)

    Page 1 of 1 pages

    Hard to imagine that you made no mention of the building trades and their shareholder activism. With 290 proposals at corporations this year, they are the main players in the field and have been for years. Their ommission makes renders this story just another puff piece. 

    United States Posted by Bill Arndt on Apr 15, 2004 at 12:43 PM

    Well, after fiascos like WorldCom and Enron (where everybody but the CEO got screwed), it is inevitable that the day of “SuperCEO” is coming to it’s end. Chief Executive Officers should never made more than 4x what the lowest ranking worker makes.

    United States Posted by Strelnikov on Apr 16, 2004 at 3:32 PM

    i like this site.

    United Kingdom Posted by biabia on May 4, 2004 at 9:52 AM
    Page 1 of 1 pages

  • register a new account »Posting Security

    To participate in our forums, please register for a free account.
     

    Retreive lost password »

Article Appeared in this Issue

Full contents
Past issues

Also by David Moberg
  • Obama’s Labor Pick Is Good News for Workers
    Senior Editor David Moberg looks at this week's labor news, including Obama's labor secretary pick, Detroit's holiday package, and the recent death of labor leader Ron Carey.
  • The Rise and Fall of Rod Blagojevich
    The governor's apparent misdeeds were audacious even by Illinois standards, Senior Editor David Moberg says during this interview with "Democracy Now!" co-host Juan Gonzales, which aired Wednesday.
  • Republic’s Battle Cry
    Workers occupying a closed Chicago factory are sending a strong message to Washington: protect workers' rights.
  • Beyond Casino Capitalism
    Bush let the gamblers run wild. Here's how Obama can rein them in.
  • Obama and the Union Vote
    Polls suggest mandate for reform surpasses support for Obama
  • The View From Ohio
    Will voters in the economically ravaged Buckeye State 'get over' race and support Obama?
Popular Discussions