Performance Optional 0
McClatchy’s Sarah Anderson debunks the CEO “pay for performance” scam. A nugget:
- Four CEOs of financial firms that received some of the largest bailouts in 2008 have reappeared on the top 25 highest-paid lists since the crash.
- Pfizer CEO Hank McKinnell got the boot in 2006 after the drugmaker’s stock plunged 40 percent. He still jumped out of the escape hatch with a golden parachute worth nearly $200 million.
- Dialysis giant Da-Vita HealthCare has had to fork over more than $350 million over the past year to settle various fraud cases. Nevertheless, CEO Kent Thiry made the top 25 highest-paid list in 2012 with more than $26 million in total compensation.
Speaking of pay for performance, explain to me just how this is “education” and not an Amway dealership.