But you already knew CEO pay is obscene

Akron Beacon Journal
Marie Cocco
Read the article here.

WASHINGTON: This Labor Day, it must not go unnoticed that Angelo Mozilo, chief executive of Countrywide Financial the company that has helped drive world markets into turmoil with its lending raked in $42.9 million last year.

The Nobel laureate Harold Varmus, chief executive of the Memorial Sloan-Kettering Cancer Center, was paid $2.5 million.

Roughly speaking, here is what their relative compensation means: We now value the contributions of someone who has left homeowners frantic about whether they will be able to keep a roof over their heads about 18 times as much as we do those of a brilliant scientist whose groundbreaking research on the genetic basis for cancer could save millions of lives

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