“Don’t stockholders set the pay rate for CEO, and other board members?”
ROFLMAO!!!
You obviously don’t understand stocks or corporations. Rare is it that a corporation has any public control over it. Corporations have a handful of stockholders that own controlling interest of the corporation and they set their pay and benefits. You, the lowly stock holder, mean nothing to them. In fact, only the law requires them to hold “stockholder meetings” that are symbolic with no controlling interest by those pesky stockholders.
they can set their pay to whatever they like and they like to drain all profits to themselves.
But my question is on it’s face fact. Just because stockholders have enough stock to have controlling interest doesn’t mean they’re not stockholders.
Having the money to buy enough stock is nobody’s business but theirs, directing the course of a business is one of the benefits of becoming wealthy. How much money people earn, or have is none of our business.
It’s also true as well that if a group of “everyday” stockholders don’t like what’s happening, they can join together pool their stocks, and appoint a proxy to vote against the individual “rich” stockholder. Dependent upon the corporate rules of the company.
The thing is that most don’t care as long as their stock is increasing in value. They are more worried about daily life, and in some cases are willfully ignorant to their rights as a stockholder.
So your gripe should be with them, not the rich people who are exercising their corporate duties.