BOSTON—It’s safe to say that Bob Nardelli was never confused with Bob the Builder, the cartoon character who teaches teamwork to the kids: “Can we fix it? Yes we can!”
http://www.truthdig.com/report/item/200 ... n_builder/
Home Depot has a similar slogan—“You can do it. We can help”—but the former CEO was more of a do-it-for-himself kind of guy.
By the time Bob the Un-Builder hung up his orange apron, the Home Depot stock had gone down 6 percent in six years. Nevertheless, he left with $210 million in his pocket, thereby becoming another in the burgeoning line of CEOs Gone Wild.
The money Bob got just for going was over and above his annual compensation, a number that hit $38.1 million in 2005, roughly $100,000 a day.
This is not going to be a rant about CEO salaries, although a rant is in order. We all know about the growing inequality of income. In 1965, the average CEO was paid 24 times the average worker. In 2005, the average CEO was paid 262 times the average worker.
It’s taken 12 years and a new Congress just to get the minimum wage moving up to $7.25 an hour over the next two years. At Home Depot, where the average wage is $10 an hour, the boss made more every day than workers earned in a year.