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Was she not the Native American who got into Harvard through AA?
Wake up. She did not attend Harvard. She taught there.
The problem with CEO salary is the interlocking incestuous boards of director raising each others salary and benefits
Was this WF ceo even aware of the sales promotion? I doubt it.
DH was the step and fetch it for a ceo of a Fortune 100 company for 10 of the 31 years he worked there. The brass only knew what the staff decided to tell them. The top floor guys would never have known such info. Maybe the director of sales.
Where's your outrage about how much money the Clintons are getting? At least the corporation CEOs are leading large companies. What do the Clintons do? Talking? Do they deserve all the millions?
The highest paid public speakers in US history are Reagan, then Trump and then Bill Clinton. Bill made up for his relatively lower fee with volume.
If some entity were willing to pay you six figures to be the keynote speaker at an event, would you turn it down?
Assuming no regulatory interference, the market determines what CEOs are paid. It's kind of like pro sports...the players that are seen as the most valuable get paid the max contracts, others get paid less, and some are just filling out the roster and don't have much value so they get paid minimum - easily replaceable.
It's possible that an an athlete gets a max contract and doesn't prove to be worth it, and same applies to a CEO. If the company isn't doing well, they'll lose their CEO position. If they do a bad job and still somehow keep the job forever, the company will fail.
There's competition for the best business people out there. The most wanted will be the highest paid.
Do they deserve the money while janitors are paid minimum wage? How is that fair?
On one hand you're supporting compensation packages supported by complicit corporate boards and on the other criticizing speaking fees and bringing up minimum wages?
Is the corporation owned by the government? If not, how their CEO is paid is none of our business. It's between the CEO and the shareholders.
If you don't want to support that corporation, just don't buy or use their product or service.
That's the age-old argument but it doesn't play out that way.
Say you thought Verizon's CEO and execs were awful people (for whatever reasons), you may only have Sprint or T-mobile as other options in your area. And Sprint and T-mobile's execs are very likely to be cut from the same cloth and making similar salaries to those of Verizon. And then tell your kids they can't have internet.
You could even try to avoid doing business with Wells Fargo, until you find out your lender sold your mortgage to them! Happens all the time.
Big corporations tend to work similarly across industries.
I like how the o.p. ignores the fact that Wells Fargo was bailed out by their beloved govt.
Had they been allowed to fail this would not have occurred.
actually wells fargo was FORCED to take bailout funds, even though they initially said no. the feds told them if they didnt take the bailout funds, then every time they wanted to buy up a smaller bank, their efforts would be rejected out of hand, thus they accepted the bailout funds at the point of the feds gun.
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Originally Posted by stan4
We asked our colleague to be our CEO when we built our company.
Over the 10.5 years he served as CEO, he worked his ass off. More than anyone else. And we all worked HARD.
We sold our company last year, and I think he deserved everything he got. He drove the vision. He traveled everywhere making the connections. He took the endless meetings and did all the networking. He rolled out the ideas for new product lines and then made them reality.
I don't think most folks know what many CEOs do outside of the fat cat, cigar-chomping Hollywood version they have in their heads.
you are absolutely right. most people do not know what CEOs do all day every day. chances are that the CEO is putting in at least 120 hours a week doing things that the people below have no clue about, especially the CEOs of multi national corporations.
CEO salaries and pay are usually set by the Board of Directors, not the CEO. These are legal, contractual agreements with stipulations, conditions, etc... The situation is more complex than you make it out to be.
Naive is a word that comes to mind.
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What’s less known is that the directors on board-compensation committees — the very people who decide to give out those large CEO salaries, bonuses, and stock grants — also tend to pay themselves and other directors extremely well.
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She did not attend Harvard. She taught there.
