surprisingly well-written leftist view
John Moore: The corrosive cult of the CEO | FP Comment | Financial Post
The lamest of these is that any complaint about CEO pay must be motivated by envy — a contention barely more sophisticated than the schoolyard taunt of “You’re just jealous.” Let’s be clear: Critics of income disparity aren’t opposed to the idea that some people deserve to be paid more than others. They’re irked by just how much more some people are paid. Thirty years ago, the average CEO made about 25 times more than the lowliest employee in the company they ran. Today, they make 187 times more.
Other apologists keep insisting that corporate overcompensation is a matter for shareholders. Clearly these people have never been aggrieved stockholders. Activist Yvon Michaud has spent decades trying to get his motions heard at annual meetings for the Canadian banks in which he holds stock. He ultimately had file a lawsuit against Laurentian Bank, National Bank of Canada and the Royal Bank to compel them to allow him to even approach the mix at annual meetings.
