On the mainstream propaganda news today, was a story about CEO’s pay going up whilst the profits of the companies they manage were going down. The justification for this anomaly, was that CEO’s need to work harder in a recession and, “in order to keep the best people who can get you out of a fix you need to pay them the going rate”.
Wait a minute, I’m sure I’ve heard that argument somewhere before… Oh yes, it was during the boom years, except it had one little tweak; “in order to keep the best people who can maintain a profit you need to pay them the going rate”.
Being a CEO seems like a win win sinecure to me. Their culpability is never up for discussion. Now how did that happen?