CEO’s pay surpassed his performance

Regarding “How KB Home CEO’s pay went through the roof,” Dec. 17:

Apparently some on Wall Street and in the industry see nothing disturbing in former KB Home Chief Executive Bruce Karatz’s making more in a few days than someone working full time for minimum wage can hope to make in a lifetime.

Minimum-wage earners don’t have friends at the top, after all. But isn’t such a magnanimous board of directors a corrupt organization under federal law?

Remarkably, Karatz’s performance during his years of abundant compensation was mediocre within his industry. So much for the justifications heard on Wall Street that corporations are paying only what their top executives deserve.

These self-dealing corporate money addicts have profited hugely during a time of war. They clearly have no sense of shame, but isn’t there supposed to be honor among thieves?

Carl C. Slate

Sherman Oaks

*

Your reporters beat up Bruce Karatz and several other CEOs who seemingly lead their respective companies to record or near-record profits.

I’ll go out on a limb here and bet that not one of these people was told when appointed CEO, “Now you just go ahead and pay yourself whatever makes you happy. You got a blank check from us.”

If you’re bent out of shape about somebody’s pay stub, I suggest you find out why that amount was OKd in the first place and not beat up the person who cashed the check.

Jeffrey Hawkins

La Quinta