Maybe I'm Missing Something... Corporate raises?

[Al B. Sure!]

http://news.yahoo.com/news?tmpl=story&u=/nm/20040512/bs_nm/financial_compensation_dc_1

The median compensation for chief executives at the largest U.S. companies rose to $4.6 million last year, up from a median $3.6 million in 2002, according to the latest pay survey by the Corporate Library.

The 27 percent climb in overall pay -- base salary, bonus, options proceeds, restricted stock awards and long-term incentive plans -- exceeds the 11.5 percent rise in 2002 over 2001.

isn't the economy supposedly in bad to stagnant shape right now and the job market is overall bad?

maybe i just dont got all the facts... am i missing something?

[Ted Striker]

That is ****ed up.

[MRT144]

oh, but corporations are there to benefit everyone...

MY ASS!!! I HOPE THAT THEY KILL ALL THOSE COMPANY EXECS LIKE THEY DID BERG!!!!

[Spiffor]

This is what happens when a circle of self-interested people are empowered as the epitome of morality and efficiency.

In France, we had huge rises in bosses' pay too this year. Meanwhile, the same bosses explain the commonf man must see his wage and healthcare become lower, for the sake of economic realism

[monkspider]

Let the good times roll! /Dans

[Urban Ranger]

You aren't missing anything, Speer. This is exactly what happens in large corporations. Essentially, the senior management does not work for shareholders or stakeholders, they work for themselves. That's why there are all those horror stories that CEOs bail out safely with golden parachutes even their companies crash and burn.

[Aeson]

At least it pales in comparison to the $100 million+ that they were earning a few years ago.

God knows where we'd be without these saints willing to work for 1/100th of what they might have made a decade ago. Obviously what they do is so important that they should make more per year than 99.9% of the rest of hard working people will make in their entire lives. Give them raises!

(damn, no one is supporting this yet )

[JohnT]

Answer: Become a corporate executive.

Let the good times roll!

[Urban Ranger]

That would require a total lack of ethical values.

[Ming]

Hmmm... compared to the top sports and movie stars, they make less money

[JohnT]

Originally posted by Urban Ranger
That would require a total lack of ethical values.

Akin to something like complaining about the instituting of moderation to Apolyton and then, a few short years later, becoming one of the mods?

[JohnT]

Originally posted by Ming
Hmmm... compared to the top sports and movie stars, they make less money

It's stunning, the lack of threads protesting George Lucas and his $400million in earnings in FY 2000, his $250million in FY 2001, his $200million in earnings for FY 2002, and his $185million in FY 2003, isn't it? If my math is correct, that gives him $1,035,000,000 in earnings in the past four years.

And Albert is concerned because some CEO is making $4million?

[JohnT]

Hell, even dead celebrities earn more than their living CEO counterparts:

(figures in millions)

Elvis Presley $37
Charles Schulz 28
John Lennon 20
Dale Earnhardt 20
Theodor "Dr. Seuss" Geisel 19
George Harrison 17
J.R.R. Tolkien 12
Bob Marley 10
Jimi Hendrix 8
Tupac Shakur 7
Marilyn Monroe 7
Jerry Garcia 5
Robert Ludlum 5

Where's the outrage?

[JohnT]

Originally posted by Spiffor
This is what happens when a circle of self-interested people are empowered as the epitome of morality and efficiency.

Does that mean you're giving up Communism?

[mrmitchell]

I wouldn't call Schultz a celebrity. He's a cartoonist.