What is needed is a stockholders revolt. When the market crashed in 2007/8, GE crashed from $50 per share to $5 a share and then crept up to a range between $15 and $20 to this day. Meanwhile the top 7 officials were being paid from $11 to $22 million for those years and 2009. In 2009 a proposal was offered for a stockholder vote to subject the executives to a Stockholders Advisory on Executive Compensation. Needless to say the Execs urged us to vote against it. Needless to say I voted for it.
In 2007 the top CEO of Goldman Sachs was paid around $34 million. In 2008 the salary was raised to over $70 million. At the 2008 GS stockholders meeting the stockholders outraged that the top three executives all had salaries above $65 million voted 43% for a Stockholders Advisory on Exec. Compensation. While not a win, it was close enough to scare the CEO salary in 2009 to be lowered to around $26 million. IN 2010, I had a very hard time trying to find out what the CEO salary was for that year. Cowards!!! STOCKHOLDERS, REVOLT!! Keep government out of your corporations, do it yourself!!
bkmrk
CEO’s just trying to keep up with professional athletes and Hollywood stars after all...