Posts Tagged ‘excessive executive compensation’

Excessive Executive Compensation

By: ispeculatornew | Date posted: 01.10.2007 (12:00 am)

One of the reasons I created this website was to write about the problems I see on Wall Street that need to be addressed and fixed. One of these problems is the excessive compensation given to CEOs and other high level executives.

This overcompensation has been a problem for years and people just tend to overlook it. CEOs make millions of dollars in base pay and are given stock options worth tens of millions even when their companies and their stocks underperform. To add insult to injury it has been disclosed in the last year that they have been backdating their options (changing the date of their options to coincide with the lowest price during the year). This should be illegal and in my opinion a lot of CEOs should be going to jail for this. Furthermore, CEOs are given lavish perks and “golden parachutes” when they retire. Some of these CEOs get a retirement package worth millions of dollars a year for life. This is a fleecing of shareholders and is simply unacceptable. (more…)