How Long Will Politicians Look The Other Way On CEO Pay?
Some 77 percent of Americans polled last year felt that corporate
executives "earn too much." Most corporate boards apparently disagree.
Last year, although the nation's economy was already in trouble, they
gave the chief executive officers of the Standard & Poor's 500
largest companies on average a 2.6 percent pay hike to $10,544,470. Christian Science Monitor.
Posted inOriginal publication: Christian Science Monitor
Date of publication: 08/25/2008
Some 77 percent of Americans polled last year felt that corporate executives "earn too much." Most corporate boards apparently disagree. Last year, although the nation's economy was already in trouble, they gave the chief executive officers of the Standard & Poor's 500 largest companies on average a 2.6 percent pay hike to $10,544,470.
On the presidential campaign trail, both Sens. Barack Obama and John McCain attack the high levels of pay for corporate bosses, but are mostly fuzzy on remedies. Several bills before Congress would attempt to tame runaway executive pay. But none have passed both houses.