A DEFENSE OF CEO PAY

I was listening to a re-broadcast of one of Neil Boortz's radio shows and a woman caller tried to defend the obscenely high CEO compensation packages by claiming that she supports the pay because the job of CEOs is to make sure she has a job. This shows an amazing lack of comprehension of theory and practice. In theory, the CEO works for the owners (shareholders) and tries to increase the return on their investment, not the employment rolls. In practice, CEOs don't think they should be held accoutable to the owners and don't have any qualms about firing workers.