Inflationistas have abandoned gold and moved on to a new fetish.
Fast Company: “In 2019, the average top CEO’s pay increased 14% from 2018 to $21.3 million. Sundar Pichai, the CEO of Google’s parent company, Alphabet, earned $280,621,552 in total compensation—more than 1,000 times the income of a median company employee. Pichai tops the new list of “100 Most Overpaid CEOs,” the seventh annual report published by As You Sow, a nonprofit promoting corporate social responsibility through shareholder advocacy. The report, subtitled “Are Fund Managers Asleep at the Wheel?” finds that, while shareholder opposition to this excess is growing, many of the biggest financial fiduciaries still did not vote against excessive CEO pay in last year’s annual shareholder meetings. The report calculates how much CEOs should have earned in 2019 based on total shareholder return over the past five years, and then calculates the surplus pay they received; for instance, the report suggests that 95% of Pichai’s salary (a total of $266,698,263) was excessive. It found that, in Alphabet’s case, the CEO-to-employee pay ratio was 1,085:1; The Walt Disney Co.’s, ranked fifth, was 911:1; and The Kraft Heinz Co.’s, in sixth place, was 1,034:1…”
Little Bay Beach: Asbestos scare, Randwick Council to close beach
Hundreds of washed up fragments of asbestos will force the closure of one of Sydney’s most picturesque beaches. FIND OUT WHEN IT WILL CLOSE.
A picturesque beach in Sydney’s east will be closed for up to two weeks as the council tries to find the source of an ongoing asbestos problem.
