Well, fair's fair. They tried really hard, you know. Just because they ushered in a global recession and walked away with riches for years regardless of performance doesn't mean we should ask anything more from them. If we do, they too will probably ask everyone to stop the "public flogging", as we see from RBS. Can't we all just get along?
Median cash salaries and bonuses for chief executives of 200 big U.S. companies fell 8.5 percent in 2008 to $2.24 million, the Wall Street Journal said, citing an analysis prepared for it by Hay Group, a management consulting firm.And how much did business drop off last year?
Including the value of stock, stock options and other long-term incentives, total direct compensation for the CEOs dropped 3.4 percent to a median of $7.56 million, the paper said.
The decline in total direct compensation was the first in seven years and only the second drop since the Journal began tracking CEO pay in 1989.
