AT&T CEO’s pay jumps 35 percent to $20.3 million in 2009
from Macworld by Ann Bednarz
*** begin quote ***
AT&T CEO Randall Stephenson’s stock awards fell 8 percent in 2009, but he earned a cash bonus of $5.85 million that helped increase his total compensation by 35 percent.
*** end quote ***
Corporations are are a gooferment creation. So, needless to say, they are screwed up.
It’s unseemly for ANY corporation employee to have a salary greater than that of the President.
The gooferment’s creation fails to align the interest of the owners and the employees.
The gooferment could correct that error with five year stock options as the manner of executive compensation. Or maybe, a mix of options that vest from 10 to 50 years? With a sliding scale, weighted towards the middle?
That could be done with the stroke of a pen.
If I was “king”, I’d have the “Sheriff of Nottingham” (aka the IRS) audit any company that pays salaries greater than that of the Prez.
How fast could things change?
How many lobbyists and politicians would have their pockets stuffed with cash to kill this?
# # # # #