If they live, soldiers eat Iraqi dust while CEOs drink Champagne

From "Soldiers die, CEOs prosper" by Derrick Z. Jackson, Boston Globe Columnist, August 30, 2006:

There is no evidence of a contractor having a soul in the 13th annual Executive Excess CEO survey by the Institute for Policy Studies, a progressive think tank, and the Boston-based United for a Fair Economy. The report found that 34 defense CEOs have been paid nearly $1 billion since the Sept. 11, 2001, terrorist attacks.

As soldiers have died in displaying personal patriotism, the pay gap between soldiers and defense CEOs has exploded. Before 9/11, the gap between CEOs of publicly traded companies and army privates was already a galling 190 to 1. Today, it is 308 to 1. The average army private makes $25,000 a year. The average defense CEO makes $7.7 million.

[...]

The top profiteers after 9/11 were the CEOs of United Technologies ($200 million), General Dynamics ($65 million), Lockheed Martin ($50 million), and Halliburton ($49 million). Other firms where CEO pay the last four years added up to $25 million to $45 million were Textron, Engineered Support Systems, Computer Sciences, Alliant Techsystems, Armor Holding, Boeing, Health Net, ITT Industries, Northrop Grumman, Oshkosh Truck, URS, and Raytheon.

While Army privates died overseas earning $25,000 a year, David Brooks, the disgraced former CEO of body-armor maker DHB, made $192 million in stock sales in 2004. He staged a reported $10 million bat mitzvah for his daughter. The 2005 pay package for Halliburton CEO David Lesar, head of the firm that most symbolizes the occupation's waste, overcharges, and ghost charges on no-bid contracts, was $26 million, according to the report's analysis of federal Securities and Exchange Commission filings.

[...]

The Executive Excess report, with the help of the Wall Street Journal's 2006 survey of executive compensation, made similar observations of oil executives as their firms enjoy record profits during war. The pay gap between the average oil and gas CEO and the average oil worker is 518 to 1. The general national CEO to worker gap is 411 to 1. The report said that the typical oil construction laborer would have to work 4,279 years to match the $95 million pay last year for Valero Energy CEO William Greehey.

The article is here.