bush to compare iraq to WWII today
- From: "<SmirkS>" <me@xxxxxxxxxxx>
- Date: Tue, 30 Aug 2005 11:22:27 -0500
in a speech in san diego.
hmmm. will he be talking about his grandfather? that's the only comparison
i see - bush family members and friends are getting richer.
~~
BOSTON, Aug. 30 /U.S. Newswire
2004 was a banner year for CEOs and a dismal year for workers, according
to a new report from the Institute for Policy Studies and United for a
Fair Economy, "Executive Excess 2005: Defense Contractors Get More Bucks
for the Bang."
The report found that CEOs are individually profiting from the Iraq War,
with huge average raises at the biggest defense contractors.
At the 34 publicly traded U.S. corporations among the 2004 top 100 defense
contractors with 10 percent or more of their revenues from defense
contracts -- companies such as United Technologies, Textron, and General
Dynamics -- average CEO pay increased 200 percent from 2001 to 2004,
versus 7 percent for all CEOs.
For example, David H. Brooks, CEO of bulletproof vest maker DHB
Industries, earned $70 million in 2004, 13,349 percent more than his 2001
compensation of $525,000. Brooks also sold company stock worth about $186
million last year, spooking investors who drove DHB's share price from
more than $22 to as low as $6.50. In May 2005, the US Marines recalled
more than 5,000 DHB armored vests after questions were raised about their
effectiveness. By that time, Brooks had pocketed over $250 million in war
windfalls.
Since September 11, the ratio between median pay for defense CEOs and pay
for military generals has nearly doubled to 23-to-1, up from 12-to-1 just
three years earlier. The pay ratio between defense CEOs and army privates
soared to 160-to-1, up from just 89-to-1 in 2001.
--
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