Big Media CEOs get paid to stay at home. Media companies will pay their chief officers big bucks on top of their salaries to keep second homes for business. The numbers in that article are staggering, but not unexpected.
This quote by Paul Hodgson from The Corporate Library mimics my sentiment exactly: “The very idea that someone earning $20 million should need reimbursement for any cost performing their duties as COO is curious enough. That they should be reimbursed (for) living in their own house takes it to a different level of absurdity.”
If CEO compensation was based on merit, that’s one thing. Some CEOs drive their companies into the ground yet still take away millions. Perhaps when I’m on the other side, I’ll see it differently.
Updated February 6, 2012 and originally published May 6, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.