A perfectly respectable business panel is urging corporate boards to ditch the ridiculous rationalizations for CEO pay excess and narrow the gargantuan corporate pay gap. Step one: end CEO stock options.
Facebook’s initial public offering last week ‘offered’ the world another double dose of windfalls and greed. But Egypt’s elections this week may bring an IPO of a different sort, the ‘initial public offering’ of an antidote to avarice.
A string of surprising ‘say on pay’ votes has some executive pay critics sensing an impending revolution in corporate boardrooms. But that ‘revolution’ won’t amount to much until mainstream CEO pay reformers start factoring worker pay into the corporate compensation equation.
From Manhattan to Monaco, the world’s super rich are fashioning themselves into a new global tribe of footloose and stateless. The rest of us get to gawk — and foot the ultimate bill.
Over two years ago, the IRS announced an ambitious new effort to subject the super rich to unprecedentedly intensive audits. How’s that effort working out? Most lawmakers would rather you not ask.