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America's best-paid CEOs have the worst-paid employees
Today's links - America's best-paid CEOs have the worst-paid employees: Incentives matter, especially when it comes to stock buybacks. - Hey look at this: Delights to delectate.
Every year, the Institute for Policy Studies publishes a report called "Executive Excess," in which they track the gap between the compensation offered to corporate leaders and to the workers who generate all that money. Buybacks are an illegal form of stock manipulation that is nevertheless widely practiced, thanks to the SEC's policy of stretching Rule 10b-18 of the Securities Exchange Act of 1934 to creates a "safe harbor" for conduct that violates the plain language of the SEA. Picks and Shovels: a sequel to "Red Team Blues," about the heroic era of the PC, Tor Books, February 2025 Unauthorized Bread: a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, 2025
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