Very few of these execs really deserve the pay they get. They get the pay because they have power within the organization, it's as simple as that.
No one can tell me, for example, that the hundreds of millions the Exxon CEO received were earned because the company made $10 billion. The company made $10 billion because the price of oil was up. It had nothing to do with the CEO.
"Very few of these execs really deserve the pay they get."
Who's to say? I can't fathom paying anybody a nickel to shoot hoops but those guys a re rich, too.
Thats right. Executive pay is way out of control. It seems that its a win win situation for them. Too much money is being wasted on these talking heads.
I agree, however, in no way do I want Barney Frank or any other politicians telling people how much money they can make.
Stockholders can vote with their feet on this fiasco if they want.