Other massively wealthy executives have paved the way in the field of $1 base salary reductions, such as Apple CEO Steve Jobs and Google founders Larry Page and Sergey Brin. According to Oracle’s filing with the SEC, Ellison’s company wants to provide Ellison full compensation for the “active and vital role” he plays.

Most of Ellison’s wealth comes from the 1.18 billion shares of Oracle that he owns, 23.4 percent of the company’s total shares, and the compensation that he receives in stocks rather than in cash. Ellison founded Oracle in 1977 and the software company has since grown into the third-largest component of the software market, behind Microsoft and IBM.

Image: Flickr

Post from: EveryJoe

Oracle’s Ellison Accepts $1 Salary for 2010

There’s a title in front of John McCain’s name: Senator. But does he really deserve it? Since January 2007, he’s missed 63 percent of the votes held in the Senate. The last time he was present for a vote was April 8.

Of course it takes a lot of time to campaign for president. Barack Obama has missed 20 votes in the last 20 days. But Obama has actually missed relatively few, and has made a point of showing up for Senate votes every few weeks. He hasn’t let three months go by at a time.

There’s one reason in particular that McCain’s chronic absenteeism has me irked. Despite being a no-show for many important votes, he’s still getting his Senate salary. Since the last time McCain actually voted in the Senate, he’s earned $51,345.08, according to a post this morning at Daily Kos. I can’t think of any other job where you could keep getting paid even if you didn’t show up for 16 weeks.

Post from: EveryJoe

Chronic Absenteeism in Congress