The Occupy folk had a point when they focused on mile-high CEO pay. Take, for instance, the case of former Verizon Communications Chief Executive Officer Ivan Seidenberg.
According to an analysis by the Associated Press, Seidenberg earned $26.4 million in total compensation last year. That compares with the $18.1 million he earned in 2010 and the $17.5 million he received in 2009.
But what makes these numbers even more remarkable is the fact that Seidenberg stepped down from the CEO's job in August. In other words, he pulled down $26.4 million for seven months of work.
Put another way, Seidenberg made almost $4 million a month.
Let me say that again: The man was paid almost $4 million a month.
By comparison, his counterpart at AT&T, Randall Stephenson, earned just $18.7 million in 2011. And he worked the entire year, meaning that he had to scrape by on about $1.5 million monthly.