I just read an amazing story over at
Wal*Mart Watch, a site dedicated to opening people's eyes to the corporate shitpile that is the world's leading retailer.
It seems that a CEO for a small firm called the
RiskMetrics Group actually turned down a raise and recommended that the board give his bonus to his underlings. Amazing!
According to the article, the CEO in question, Ethan Berman,"...took the highly unusual step of sending his board of directors a memo that recommended that he receive no increase in salary and a reduced annual bonus from 2004."
In Berman's own words:
“The banker J. P. Morgan once said that he would never lend money to a company where the highest-paid employee was paid more than 20 times the lowest-paid, as it was in his view unstable...the firm’s stronger than expected performance was driven by a large number of employees in other roles, and therefore I would like to see the bulk of my direct reports, and in fact many of their direct reports, paid greater bonuses than I receive."Ethan Berman, you fricking rock. My hat's off to you, sir.
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