Not that I don't see that the public company CEO's of the past 20 years in the US are not making far more in excess of their worth...but according to Forbes, Rick Wagoner is making
far less than adverted in the link you gave.
Let's not have a pity party for Rick...he still made $25 million the past 5 years.
http://www.forbes.com/lists/2008/12/lead_bestbosses08_G-Richard-Wagoner-Jr_SOX2.htmlHere's the whole sorry list:
http://www.forbes.com/lists/2008/12/lead_bestbosses08_CEO-Compensation_Rank.htmlYou will be remarkably surprised if you sit in a newer GM-developed vehicle (and then compare the sticker price to other makes). It is a most pleasant surprise you will find
btw, unless you count the SAAB I know own for 10 years as a GM division (I think it was only partly owned at the time I bought the care by GM), then I've
never owned a GM vehicle in my life. Really, there are sizable changes afoot there at GM (Consumer Reports thru Automobile magazine have noticed)
As for rediculous CEO pay...if
any of you own shares or mutual funds that invest in public companies, you are partly to blame for allowing it to go on for decades now. I routinely vote 'no' for aggressive compensation plans at the securities I own. You will find activist mutual fund companies like Oakmark to labor aggressively against overly aggressive pay packages.
They realize that a few tens of millions given to a (publicly owned) CEO is that much less value the shares are worth. We all share in the responsibility of having this happen.
Private companies are penalized for overpayment of their CEO....they go out of business or the partners make less. You are no less a partner if you own shares in any publicly traded company. Vote with your mouth, pens and feet and take it no longer.
John, aka Che Guevera (ha)
