According to Forbes the chief executives of America's 500 biggest companies "took a collective 11% pay cut last year, earning total compensation of $5.7 billion."
But, before feeling too sorry for our poverty-stricken CEOs, don't.
Think about Lawrence J Ellison, the number one guy on Forbes' CEO compensation list. Last year the Oracle CEO raked in a full $556.98 million in compensation. In other words, 10,000 times the median US household income and more than twice the GDP of Tonga.
I'm not sure where I'm going with this except to wonder what the hell one human being could possibly do in a year to be 'worth' that much. Sure, I believe in merit-based reward, but how could even the most hard-headed Ayn Rand fan rationalize this insanity?
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