We’ve all heard the reasons (sometimes excuses) for the fact that many CEOs are compensated orders of magnitude higher than the working class or middle management. Perhaps sometimes the justifications have merit. How about when corporate profitability or performance has plunged under a CEO’s guidance?
Here is MSN Money’s list of the most outrageous offenders:
* Patrick Nettles at Ciena, compensated $41.2 million over the past four years as the share price has lost 93%.
* Jure Sola at Sanmina-SCI, paid $26.4 million during the past four years while Sanmina shares fell 78%.
* Scott McNealy at Sun Microsystems, given $13.1 million a year over the past four years as shareholders lost 76%.
* Larry Johnston at Albertson’s, rewarded $76.2 million over the last four years while shares fell 39%.
* Peter Dolan at Bristol-Myers Squibb, paid $41 million while the stock fell 48% over the past four years.
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{ 4 comments }
I can’t even fathom being paid $10 million (or more) a year. Especially if the company is losing money. I just can’t even imagine it. How could any person be doing a job that is seriously worth THAT much money?
When Reid Sound goes public, can I get to be CEO? I can guarantee that shares would tank at least 90% upon my arrival and I’d only ask for 35 million…a relative bargain compared to Mr. Nettles.
Check this one.
http://concentrationofwealth.blogspot.com/
Just another example of them vs us. Tiered society and bifurcation all sanctioned by our goverment and thier love affair with corporate america. Pandering to those who can buy thier votes and influence.
A long as we don’tde,and accountability the rich will squander our collective rights.
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