Bad CEO's paid too much?
um let's see.....
1. Kenneth Lay - sold $US30 million in Enron stock before the company collapsed and will receive a $US475,000 a year pension for life.
2. Dennis Kozlowski - Tyco's CEO spent company money on art, antiques, motorbikes, helicopters and yachts. Also spent $US2 million of the company's money on a trip to Sardinia for his wifes birthday. His remuneration for the last 4 years he was CEO was $US400 million, not counting company loans that were never paid back.
3. Australia's answer to Dennis was HIH Insurance, which spent $A103,542 on gold watches for executives before it collapsed.
4. Also worth a mention would be John Porter of Austar, who's pay rose 35% in 2001 to $A1.16 million. In the same year Austar lost $A682 million and sacked a third of it's staff.
