6 Examples of Wildly Overpaid Rich Folks (And the Teachers We Could Have Gotten for That Money)

[xchrom]

http://www.alternet.org/economy/6-examples-wildly-overpaid-rich-folks-and-teachers-we-could-have-gotten-money


Eric Schmidt, executive chairman of Google.

***SNIP

1. Number Two at Yahoo! gets $109 million for 15 months of failure.

Okay, run this by me one more time: A human resources expert told Forbes magazine that nine-figure severance packages for Number Twos are “as scarce as golden hen’s teeth.” But Yahoo! CEO Marissa Mayer still offered a very sweet one to her short-lived second-in-command, Henrique De Castro. It’s worth an estimated $64.5 million, according to published reports, which means that De Castro’s unsuccessful 15-month tenure will net him an estimated $109 million. De Castro’s golden parachute is “ one of the biggest ever,” according to Forbes’ Jeff Bercovici.

***SNIP

2. Former Google CEO is reportedly worth $8 billion (and change).

How did executive worth get so inflated in Silicon Valley? Consider this: de Castro’s (and Mayer’s) former boss Eric Schmidt is reportedly worth $8 billion after serving as Google’s CEO for a number of years. Schmidt famously earned a $1 salary and negligible bonuses while he was CEO, but clearly he was being compensated more than fairly.

***SNIP

3. $19 billion to buy WhatsApp.

WhatsApp duplicates what instant messaging does, but independently of phone carriers. It’s a good idea, but it’s not revolutionary. While it was well-implemented, by all accounts, its design and execution didn’t require any technical breakthroughs.

***SNIP


4. Zuckerberg.

That name says it all. Why wouldn’t Mark Zuckerberg pay $19 billion for WhatsApp? He probably thinks he’s worth $28.5 billion, which is what Forbes magazine estimates is his net worth. Sure, he’s an aggressive and smart businessman. But he didn’t invent the Facebook concept, and he had no idea what this website for new college students would eventually become.

[badtoworse]

1. I don't see any connection here.

These people work for private companies and are answerable to shareholders. Their salariies reduce the companies' profitability and if the Board or ultimately, the shareholders don't like it, they can act. Teachers are public servants and get paid out of taxes. One has nothing to do with the other.

[justhanginon]

2. It might help if we thought these

overpaid CEOs were paying their fair share of taxes instead of parking it offsshore in the Caymans Isalnds or other tax havens to cheat the country. It's legal only because of the bought and paid for congress enabling it. Those unpaid taxes could be used to pay teachers and other public servants and used for the general good of the country.