A few months ago, I (only half facetiously) offered my services to BP as CEO after I had read about and watched bits of Tony Hawyard's testimony before Congress on how he was like Sgt Schultz (I know nothing, nothing!), figuring I could do at least as good a job as Hayward for a lot less money. Win-win all the way around for everyone!
The Sgt Schultz defense seems to be fairly common among CEOs and upper management for many companies, even though they are paid to be aware of what is going on. I would imagine that there are many of us among the millions of long term un and underemployed who could do the jobs of CEOs and so-called Masters of the Universe and be not only more honest in our dealings with others but also more empathetic for those who are struggling.
Instead, we get to see Lloyd Blankfein's salary and other compensation jump again in 2010:
The firm’s board granted restricted stock valued at $12.6 million to Mr. Blankfein and other senior executives, including Gary D. Cohn, the firm’s president. The board also approved a new annual base salary of $2 million for its chief executive, up from $600,000. Mr. Cohn and others will see their base salaries increase to $1.85 million, according to the filing on Friday.
With his previous salary of $600,000, Mr. Blankfein’s 2010 compensation comes to $13.2 million. Senior executives often receive part of their compensation in cash, but Goldman did not release details on this component of Mr. Blankfein’s compensation.