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Jim Cramer - these capitalists are insane (2 posts)

  1. truthmod
    Administrator

    "Mad Money"

    http://rawstory.com/news08/2008/06/16/cramer-blame...

    I think their reality is starting to crumble.

    Cramer believes that the solution to energy shortages lies in a combination of offshore oil drilling and nuclear power and that the only thing holding us back is that “we’ve become an elitist nation.

    “We have two coasts that could produce a huge amount of oil,” Cramer asserted. “We’ve figured out how to drill without messing up the coast. … There’s no way that we can’t produce clean energy on both coasts except for the fact that there’s a big crowd led by Nancy Pelosi that does not want this to happen. … The leadership has stymied any opportunity to be like every other country on earth and find oil.”

    Posted 16 years ago #
  2. truthmod
    Administrator

    http://www.washingtonpost.com/wp-dyn/content/artic...

    CEO pay chugs up in '07 despite economy

    As the American economy slowed to a crawl and stockholders watched their money evaporate, CEO pay still chugged to yet more dizzying heights last year, an Associated Press analysis shows.

    The AP review of compensation for the heads of companies in the Standard & Poor's 500 index finds the median pay package added up to nearly $8.4 million. That's a comfortable gain of about $280,000 from 2006.

    The 3 1/2 percent pay increase for CEOs came even as the landscape for both workers and shareholders darkened considerably and the economy was choked by a housing market in free fall, layoffs and soaring prices for fuel and food.

    At the top of the AP list: John Thain, who took the reins of Merrill Lynch on Dec. 1, 2007. His $83 million pay package was supercharged by a signing bonus and other enticements that lured him from the New York Stock Exchange to lead the investment bank as it was suffering its worst-ever losses.

    Collectively, the 10 best-paid CEOs made more than half a billion dollars last year. Yet half the members of this stratospheric club were leading companies whose profits shrank dramatically.

    Posted 16 years ago #

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