Originally Posted by
Wedge Buster
Did you read the article?
It is talking about CEOs who are making much more money now that they where a few years ago, even though their respective companies are showing shrinking profits!
“And it's not clear that all of their CEOs were earning their keep. Take the top earner last year, then-Yahoo (YHOO, news, msgs) CEO Terry Semel. He got $71.7 million, chiefly in options grants. He also cashed in $19 million worth of options. That's a lot of loot. From a shareholder perspective, it's tough to argue that Semel earned it.
Yahoo's stock is lower now than it was at the start of 2004, while the Standard and Poor's 500 index ($INX)has advanced more than 30% in the same time period. Semel stepped down as CEO in June because of shareholder dissatisfaction with his company's performance. “
There is no way that anyone can argue that this trend of corporate greed is good for anyone besides these CEOs. They are not only cheating their employees, they are cheating their investors. They are weakening us all as a nation. Have people forgotten that there is a difference between capitalism and unadulterated-greed. Where is your sense of civic virtue? This type of destructive selfishness needs to be seen for what is is. Greed is not an american value!
Perhaps you missed the part where I said I was just naming absurdities. The money they make is criminal, but what makes it worse is that it's not criminal, just obscene. I don't have any other input on this because I'm not educated on the topic, but I do agree that is terrible that they make this much. But I don't really blame them, as for I would never turn down a $600 million salary, but I don't understand how the company itself, especially a publicly traded company, can let it get that bad. Wait, yes I do, because big corporations run like governments. Everybody complains but nobody does.