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Originally Posted by robot_parade
Maybe. And CEOs are certainly smart people, and deserve to be richly paid for their hard work. But is it really market driven? The CEO and board of directors set their own salary. I talked about my conspiracy theory about institutional ownership being to blame - the people in the banks that own large parts of many companies are the same people who want to be CEOs and on boards of companies too. Maybe I'm just paranoid there.
If it really is market based, then ok. And fairness is one issue, but another is the health of society - I can't imagine that it's helpful that the gap between rich and poor in this country is widening every day. That Americans are the hardest working people in the world, and lots of us are losing our homes, and everyone's insurance plan gets crappier every year.
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Let's get some facts straight.
According to the NY Business Law Board of Directors are not allowed ANY compensation. It is the same from state to state.
It is a volunteer position on top of their normal day to day job. The CEO doesn't set his salary. The Board of Directors sets the salary of the executive management team, including the CEO.
Now, again this is about attracting talent. If I'm on one board of directors, the chances of me being asked to be on another board is very high, because I've got a talent of sorts. So there are a number of executives that are employed by one company and then sit on the board of others. Why is that? Because they understand how business should be run and how to increase profits and direct executives. Understand that CEOs bring major changes and budgets to the BoD who then approve or disapprove things. They work in tandem for checks and balances, not for conspiracy.
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