CEO pay - corruption beyond belief

The pace of CEO salary increases shows no signs of slowing down. Last year top CEOs made about 20% more than the year before. The average worker made about 3% more. This link is specific to California, but accurately reflects the national trend as well.

Of special note was Yahoo's CEO getting about $145 million in compensation last year, most of it in stock options. He also exercised about $230 million in prior stock options. He still has over $300 million in unexercised stock options. He's only been with the company since 2001 and they've given him well over half a billion dollars in stock options.

This line says it all... Nationally, "the average CEO made 42 times the average worker's pay in 1980. That increased to 85 times in 1990 and is now over 300 times,"

Now how does this keep happening? These assholes sit on each others' boards of directors and vote each other huge pay raises. It's that simple. The CEO's salary is determined by the board of directors. When the board of directors is made up of yes men and chief executives from other companies, guess what? They keep voting for huge pay raises. It's the ultimate good ol' boys club and we're completely powerless to stop it. Theoretically a shareholder revolt could stop excessive pay, but in practice that almost never happens. Who are often among the biggest shareholders? Mutual funds that may not care what the CEO is paid as long as the stock goes up, and... you guessed it.... chief executives.