Cellular mergers and the concentration of wealth
Title: Merger lucrative for cellular execs
Source: Seattle Post-Intelligencer
Date: March 6, 2004
From the article:
- The directors and top five officers at Redmond's AT&T Wireless Services Inc. will get $85.7 million in cash if that company is bought by Cingular Wireless LLC, according to federal documents filed yesterday.
That is how the concentration of wealth works. The gigantic amounts of money being concentrated by these executives has to come from somewhere. It comes from all of us in the form of inflated prices on nearly everything we buy from corporations.
If you are a Cingular subscriber, think about this: do you want to pay that extra $1.86 to these executives so that they can become obscenely wealthy?