What does $84.5 million *per year* buy a guy? Well for one thing I could buy one hella lot of good will. And cookies. The cookies are key.
CEOs were rewarded because corporate profits soared in 2010 as the economy gradually got stronger and companies continued to cut costs. Profit for the companies in the AP analysis rose 41 percent last year.[..]
- The highest-paid CEO in 2010 was Philippe Dauman of Viacom, the entertainment company that owns MTV, Nickelodeon and Paramount Pictures. He received a pay package valued at $84.5 million, two and a half times what he made the year before. He signed a contract in April 2010 that included stock and options valued by the company at $54.2 million when they were granted.(AP)
Imagine that. $84.5 million. Actually I can't imagine it. I don't even know what that means. I'll never know what it means. But back to my original question: what does a guy do with all the filthy lucre? Buy a house? Buy several houses? And cars? And wives/girl friends to fill them?
One line keeps going through my head: "you can't take it with you." It's probably not what goes through the mind of these massively overpaid CEO's but it should. No body deserves that kind of money, unless they're solving all the world's woes on a hourly basis. Cure for cancer? Sure. End to war? Absolutely. Even an invention to cure smokers or end telemarketing for all eternity. Those might be worth that kind of money.
But to sit at the top of an organization that pretty much runs itself? Nah. They're not even worth 10% of that kind of money.