Sunday, July 1, 2007



Here's a bit of an article about the absurd amounts CEOs enjoy as salaries:

"Last year, the CEOs of the 500 biggest U.S. companies averaged $15.2 million in total annual compensation, according to Forbes business magazine’s annual executive pay survey. The top eight CEOs on the Forbes list each pocketed over $100 million.

Larry Ellison, CEO of business software giant Oracle, was not in the top eight. But
as the 11th richest man in the world, who ended last year worth more than $16 billion, he is not doing badly.

University of Chicago economist Austan Goolsbee points out that a CEO like Ellison literally cannot spend enough on personal consumption to stop his fortune from growing. Goolsbee calculates that Ellison would have to spend over '$183,000 an hour on things that can’t be resold, like parties or meals, just to avoid increasing his wealth.'"

The article by Sam Pizzigati is called, "Soaring Executive Pay Attacked by Shareholder Activists." I found it at Corpwatch.org, June 26th, 2007.

If you want great investigative reporting and to learn things you can't on cable news or in the corporate press, check out this site.

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