Recapping the day's news and newsmakers through the lens of CNBC.
Pay to stay
Ah, life at the top, it's such a breeze. A corner suite, corporate jet, courtside seats. ... And trouble always lurking. Over the past 20 years, about 40 percent of the highest-paid CEOs got the boot, were fined or agreed to settlements, or ran into so much trouble they needed a government bailout, according to a study by the Institute for Policy Studies.
Of course, CEOs are compensated for a lot of risk, earning 354 times as much as the average worker last year, up from 195 times in 1993. The left-leaning think tank says the figures show shareholders aren't getting their money's worth, and that compensation should be more transparent.
"We see CEO-worker pay ratio disclosure as an important step forward toward corporate compensation common sense."
—Institute for Policy Studies report