CEO tricksters cut their pay without bleeding
Covid-19 has been a doubly-deadly disaster for millions of Americans, destroying both life and livelihoods. But one of the most heartening responses to the crisis has come from the least-expected place: Corporate executive suites. This spring, numerous CEOs made headlines by showing some class solidarity. If we’re having to wallop our workers because of a pandemic, these bosses told media interviewers, the least we can do is cut our own salaries. Yes—all in this together! Only…not really. An analytical firm looked at the books of nearly all major U.S. corporations, finding that a mere fraction had made any cuts to senior executive pay, and the …