A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 2 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part III - Chapter 18 : CEOs  > Why CEOs are overpaid  :    « Previous    1 - 2 - 3 - 4 - 5 - 6 - 7 - 8  Next »

   Why CEOs are overpaid    

Page entitled : Of weak and irresponsible Boards of Directors

Content of this page is about :
How boards of directors are too weak against the CEOs nowadays as compared to the times when the first large US corporations appeared.


Extract :
...
When U.S. Steel, America’s first billion dollar corporation, was created in 1901, its Board of Directors was dominated by such heavy weight capitalists as J. Pierpont Morgan, the private banker who single handedly bailed out the US financial system in 1907, John D. Rockefeller, then the richest man in the world, Marshall Field, large scale merchant and richest man in Chicago, and a large number of former owners of its constituent companies, all of which were also large shareholders  ...

 

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