The NY Times has an update to their annual review of executive pay at 200 of our largest companies. As you would expect the big boys did well. Median pay is up 23% to $10,800,000, with the top guy, the head of Viacom, pulling down $84,500,000.
Compare this with the average American wage of $39,100. This represents an increase of .5% over 2009. Plus, the unemployment rate remains high and the foreclosures continue.
We all complain about excessive executive pay. Just as we complain about the ineffectiveness of our political leaders. Yet, we vote for the incumbent idiots most of the time. Our reaction to executive pay is similar. Many companies now give shareholders the option of saying 'no' on executive pay. Only 1.5% of the companies found that the shareholders did not agree with them re executive compensation.
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