.
During its last fiscal year, Toyota paid its top 26 executives a combined $8.27 million. Their pay was little changed, even though the company posted record profits for the fourth year in a row.
General Motors cut CEO Rick Wagoner's 2005 salary by 46 percent. Even after the cut, it stood at $5.48 million. And, oh, they didn't get around to paying him the usual bonus, since GM lost $10.6 billion during this period.
This is your brain. And this is your brain on laissez faire. Any questions, class?
Source: Bloomberg News
MANIFESTO JOE IS AN UNDERGROUND WRITER LIVING IN TEXAS
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"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
----Adam Smith, "The Wealth of Nations"
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