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Bully Pulpit

The term "bully pulpit" stems from President Theodore Roosevelt's reference to the White House as a "bully pulpit," meaning a terrific platform from which to persuasively advocate an agenda. Roosevelt often used the word "bully" as an adjective meaning superb/wonderful. The Bully Pulpit features news, reasoned discourse, opinion and some humor.

Thursday, April 20, 2006

CEOs cash in, but how many are worth $100 million?

From yesterday's USA Today:

Last week's analysis of CEO pay in USA TODAY raises an obvious question: Why commit fraud when you can commit executive compensation?

These days, some CEOs are taking home nine-figure sums without putting themselves in any legal jeopardy. They simply get compliant boards to approve lavish pay packages and then reap the rewards.

At least a dozen chief executive officers received $100 million or more last year as part of an overall surge in pay that began in the 1990s. In 2005, the median package among the nation's 100 largest companies soared 25% to $17.9 million, dwarfing the 3.1% average gain by typical U.S. workers.

Some top athletes and entertainers make similar amounts, of course. But their worth is determined by ticket sales, not by how many cronies they can appoint to committees that set their pay.

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