Where is the humanity?

[RandomVariable]

I just heard [edit]her[/edit] from someone who will have to tell her staff that they will get a raise between 1/2 and 1 percent. It his not that her center is not profitable, it actually carries other centers around the country. The staff has worked tirelessly, pulling late nights, and weekends whenever needed. So after a year of hard work, growing sales, and rising profit the staff gets a 1/2 to 1 percent raise. Annual compensation for the CEO? Over $20 million.

[edit added]
http://online.wsj.com/news/articles/SB10001424127887323501004578390383929384430
[/added]

 

[Moxie2]

If the staff doesn't like their compensation or their hours, they can quit!

A comparison between a CEO and lower level employees is ridiculous.

If they want to make the $20 million, they need to work the long hours to move up!

Now, please put a bandaid on your bleeding heart and move on!

 

[jwoodie]

I don't think the issue is humanity: After all, who is to say what a particular person's skills are worth? The real problem is that publicly traded corporations do not conform to the traditional responsibility of corporate boards to represent the interests of equity holders. Instead, these boards are largely appointed by the same people (corporate officers) whom they are supposed to supervise. Due to the wide dispersion of ownership, the stockholders have become little more than speculators whose only basis for evaluation is today's stock price.

To correct this situation, the SEC should impose strict limits on interlocking board memberships and require shareholder approval of executive compensation packages.