Vikram Pandit of Citigroup made $38.2 million. Part of me wants to point out that Citigroup's stock was down 77% during that time period. But that would suggest that under some circumstances a CEO's labor would actually be worth $38.2 million.
I believe it takes a certain skill to be a CEO. It may even be a rare skill. It may even be a rare skill that also has the ability to produce significant financial gain to shareholders (although obviously not in this case). But really? $38.2 million? Are these skills really that rare? Might a better explanation be that corporate boards aren't bargaining hard enough for CEO labor?
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