Seven Days columnist Shay Totten reported that former Blue Cross Blue Shield of Vermont CEO William Milnes, Jr., who retired the end of 2008, snagged a golden parachute valued at over $6.3 million.
SIX-POINT-THREE-MILLION-BUCKAROOS.
Mr. Milnes' total compensation was $7.25 million in salary, bonuses and retirement cash. This happened all while:
...businesses, both large and small, are finding it increasingly hard to compete and pay workers a family-sustaining wage because the company is saddled with skyrocketing healthcare costs.
...some Vermont cities, such as Barre, were confronted with 30-plus percent premium jumps by BCBS last year (the Granite City has since jumped to CIGNA).
...7.6 percent - or 47,886 - Vermonters had no health insurance in 2008, according the the Department of Banking, Insurance, Securities and Health Care Administration.
...approximately 46 million Americans, or 18 percent of the population under age 65, are without health insurance, according to the most current census data.
Why on Earth do so many of our Democratic and Republican politicians still have faith that private insurers will bring us out of the healthcare ditch they drove us in to begin with? And, where is the mainstream Vermont media in reporting these excessive pay packages? (Kindly correct us in the comments section if journalists other than Shay wrote about this.)
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