Kelly King's salary doubled in 2010 to $10 million dollars. On Dec 31, 2009 BB&T shares were trading for $25.27. Went up a dollar in 2010. Obscene pay package increase cannot be justified in mo opinion.
Well, now we all know that "small" shareholders have absolutely no sayso in these matters. They just don't own enough shares to make a difference. Funds do but they automatically vote with their own; upper-management does as well but, hey, they have to protect their own derrieres; in some cases employees nominally own a good chunk but they have no control over what they own, management does. So, the topical question here remains rhetorical. If I could set my own salary and benefits the sky might also be the limit.
The big boys do not have to justify anything. Just like WI union employees. They elected the politicians that negotiate the pay packages. It appears that CEO's and upper mgt select the board of directors that they negotiate with for their pay packages. Think about it.