Tuesday, May 31, 2011

Viacom defends executive pay

I always get a kick out of stories like this one. After the news got out that the three highest paid executives in entertainment all work for Viacom, they had to come out with a reason why.

The pay: CEO Phillipe Dauman--$85 million (149% pay raise)
COO Thomas Dooley--$64.7 million (139% pay raise)
Chairman of the board Sumner Redstone--$35.3 million

Dooley's pay, by the way, is 6-times higher than a typical CEO--and he's only the COO.

Read the article and judge for yourself whether or not that is reasonable compensation. I think you know where I stand.

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