Slashdot Mirror
Oracle Shareholders Vote Against Ellison's Compensation Package (Again)
angry tapir writes "A majority of Oracle shareholders have once again voted against the company's executive pay practices, including for CEO Larry Ellison. The vote at Oracle's annual shareholder meeting is nonbinding, and follows complaints from some large shareholders and their representatives who say Ellison is overpaid compared to his peers. Ellison is paid US$1 in salary, receiving the rest of his pay in stock options. In Oracle's past fiscal year, that totaled $76.9 million. Shareholders voted against Oracle's executive pay practices at last year's meeting as well."
Somebody dig old Milton Friedman up and explain "need" to this nitwit. Also, I'm sure that Larry actually enslaved the Oracle employees, rather than fairly compensating them for their time.
Obama supporters / communists / progressive liberals (same things) are so stupid. It reminds me of something that one of the early American correspondents (and closet commie) in the newly-formed Soviet Union said: "Isn't it wonderful that everybody is equally shabby?"
Every time an issue of economic equality comes up on here, a European socialist stops upvoting Reddit propaganda for 5 minutes, taking time to state their personal redistribution opinion regardless of European socialist countries like Greece, Italy, and Spain going broke / having high unemployment.
The use of stock options means that Larry only gets paid if the company is doing well; or rather more specifically if the company's shares are doing well, which is all the shareholders are going to care about in the first place.
If the stock loses 99% of its value, his compensation would still be more than most people make in their life. How that translates into not getting paid at all for you is a mystery to me.
So? He is contributing more to the economy than most people will do in their life. That's how it works. If you don't like him making that much more than you, the real solution is to figure out how you can provide value to the economy, not cry foul when other people do.