Retiring in Style

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Just in case you didn’t already hate corporate executives enough, here’s the Wall Street Jounal on how the boys and girls on mahogany row have responded to tough economic times:

Pensions for top executives rose an average of 19% in 2008, with more than 200 executives seeing pensions increase more than 50%, according to a Wall Street Journal analysis.

….Executive pensions rose even as the share prices at the companies declined an average of 37% in 2008 and many firms froze employee pensions and suspended retirement-plan contributions.

My friends, that’s what we call shareholder value.