Three of the top-earning 10 executives across all industries were in healthcare:
- Healthcare company McKesson Corp. Chief Executive John Hammergren topped the list with nearly $145.3 million in compensation in 2010
- Following McKesson is Omnicare's CEO in second place for the highest paid exec with $98.3 million
- Former CEO of health insurance company Aetna Ronald Williams received a total of $57.8
"The survey, called the most extensive study of CEO pay in North America, demonstrates the widening gap between incomes, especially in light of protesters of Occupy Wall Street who call attention to "the 1 percent," reports The Guardian."The salary survey was performed by research group GMI Ratings:
“The 36.5 percent increase in realized compensation is particularly notable when it’s put in context of the modest growth of the economy in 2010 and general public company performance last year,” said Paul Hodgson, Chief Communications Officer and Senior Research Associate at GMI"In a time when workers, patients and private practice physical therapists are struggling the income granted to these individuals seems excessive.
Their claim to create "value" for all stakeholders, not just the chareholder, seems unfounded.
Who else thinks America's market-based system has come off the rails - at least in healthcare?
The advantage of capitalism over central planning is that it distributes resources MORE efficiently.
This story suggests that WINNER TAKE ALL is the new normal.