Yahoo CEO Wrongly Claimed To Have Degree In Computer Science 363
jmcbain writes "Scott Thompson, Yahoo!'s CEO who was hired on January 4 of this year, was found to have lied about his CS degree from Stone Hill College. Investigation from an activist shareholder revealed that his degree was actually in accounting, and apparently Thompson had been going with this lie since the time he served as president of PayPal's payments unit."
firstly (Score:5, Informative)
Re:CEO's (Score:5, Informative)
CEO pay in the US recently hit an all time high. In 2011, they made 209.4 times the average worker. Their pay has increased 127 times faster than worker's pay over the last 30 years. In the period from 1978 to 2011, CEO pay rose by 725%, while worker pay rose only 5.7% in the same period. This is in stark contrast to worker productivity which rose 93% in the same 30 year period. So, the average worker is doing nearly double the work for a less than 6% raise over a 30 year period. Unfortunately, I have not seen any stats on CEO productivity, but I doubt they are doing much more than they were 30 years ago.
You do the math... CEO's will lie as much as possible remain in the position to keep their massive pay packages. The gap between CEO pay and average worker pay is widening at an alarming rate, with the CEO absorbing a very large percentage of company net profits compared to 30 years ago.