The $1 pay for chief executives is becoming increasingly popular amongst public companies, but is it really anything more than a symbol? Last year, eight CEOs serving in S&P500 companies received the token pay while eight other CEOs in smaller companies also took the plunge. The most popular are Eric Schmidt of Google and Steve Jobs from Apple. Ironically, however, Steve Jobs received the highest compensation out of all public company CEOs last year when his stock options, grants, bonuses and other benefits were factored in. Meanwhile, Google executives continue to sell stock at a high rate - often millions of dollars worth on a daily basis!

To their credit, these CEOs appear to be embracing the pay for performance model more than others. This hasn't been a problem for them, however, since their stocks have been performing extremely well. Whether or not they would embrace a similar policy if their companies were in the process of a restructuring or turnaround is questionable according to many pay analysts. AFL-CIO director Daniel Pedrotty said, "The gesture looks all warm and fuzzy, but it's a facade. It obscures the real number of what an executive gets and in that sense is an insult to investors' intelligence. In the case of Apple it's even more serious amid allegations of options fraud."

Whether or not more executives embrace this model remains to be seen; however, many analysts and investors are convinced that the move is nothing more than an act amongst companies that have exceptional stock performance.

Supervalu Inc. (NYSE:SVU) CEO Jeffrey Noddle was awarded a pay package valued at $20.4 million after a great year for the company, which grew into the nation's third largest grocer. Noddle's salary included a base salary of $1.1 million and stock options and restricted stock worth $17.7 million. Noddle has run the cmopany since 2001 and oversaw the acquisition of 1,100 Albertson's stores last year.

Apple Inc.'s (NDAQ:AAPL) Steve Jobs took over the top spot as far as CEO compensation, according to an article in Forbes magazine. Jobs' $1 salary was dwarfed by $646 million in stock compensation for 2006, making him the highest paid executive in the US. In fact, this number works out to a shocking $310,576 per hour assuming a 40-hour work week. The number was more than twice the compensation of the next person on the list: Ray Irani of Occidental Petroleum, who took home $321 million - mostly in exercised stock options. Investors can't complain about performance at least, with Apple shares almost 100% off of their 2006 lows!

eBay Inc. (NDAQ:EBAY) CEO Meg Whitman received compensation in 2006 that amounted to $11.1 million, according to a regulatory filing on Monday. The majority of this compensation came from stock option awards that totaled $7.95 million on the day they were granted. The CEO also received a $995,016 base salary with a $221,008 bonus and $911,684 in non-equity incentives. Finally, other compensation included just over $1 million in accrued expenses including $773,467 for personal use of the company jet. Meanwhile, the stock is still down slightly from its 2005-2006 highs, but almost 40% off of its 2006 lows.

Countrywide Financial Corp. (CFC) announced today that its Chief Executive Officer Angelo Mozilo received $121.85 million in compensation and gains from exercised stock options and stock awards in 2006. Many investors are satisfied with his performance, however, as the stock gained 24% last year outpacing the 7% rise in the KBW Mortgage Finance index. The compensation itself included $89,939 for use of the company aircraft, $27,010 for a company car, $15,481 for country club costs, and $30,196 for tax and investment advice. His salary consisted of $2.87 million in salary, $19 million in option awards, $20.5 million in non-equity incentive awards, and $643,200 in other compensation. He also gained over $72 million from the exercise of over 2.3 million stock options and a $6.6 million gain from the vesting of over 170,000 shares. While all of this compensation seems excessive, as long as the performance is there many investors do not see a problem.

WalMart Inc. (NYSE:WMT) justified CEO Lee Scott's compensation after the media inquired into just how much he really deserved. According to the company's DEF14A filing with the SEC:

"Lee Scott leads the largest and most complex company in the world and has delivered strong financial performance. Last year alone, sales were up $37 billion and income from continuing operations increased by $770 million from the prior fiscal year.

Since he became CEO in 2000, annual sales have more than doubled to $345 billion and income from continuing operations has grown 126 percent to $12.2 billion. Compound annual growth rates are strong in almost every major category: net sales 12.3%, income from continuing operations 11.8%, EPS from continuing operations 12.9%.

We have maintained double-digit annual growth rates in sales and income from continuing operations, which is almost unprecedented for a company this size. More people than ever are shopping at Wal-Mart and that’s why we are once again the number one company in the Fortune 500.

More than 85 percent of our CEO’s compensation, as set by an independent board committee, is tied to the company’s financial performance. Lee Scott’s compensation is benchmarked with the CEOs of other publicly traded U.S. retailers and large companies. When compared to other companies, it is among the lowest as a percentage of annual revenue and net income.

Our associates respect that Wal-Mart has a well-recognized culture of opportunity. They are proud that their CEO started as a manager in the trucking division and has stayed with the company for 28 years. They’re also proud that his leadership -- through sustainability initiatives and the $4 prescription drug program -- reflects the company’s purpose of saving people money so they can live better."

Biogen Idec Inc. (NDAQ:BIIB) President and CEO James Mullen pulled in $12.2 million in 2006 according to a proxy statement filed with the SEC. The pay package consisted of $1.08 million in salary, $2 million in cash awards, $5.78 million in restricted stock awards, and $3.21 million in option grants. The company's stock price between now and 2006 has moved up only 3.78%; however, the company did recently report strong earnings on MS and Cancer drugs that were inline with analyst estimates.

Apple Inc. (NDAQ:AAPL) may face some increased scrutiny after Fred Anderson, the former chief financial officer of Apple, pointed the finger at Steve Jobs. The statement, which comes just after the SEC said Anderson had settled charges related to backdating in 2001, was issued by Anderson's attorney and stated simply that Jobs told Anderson that the Apple board had already signed off on the grant. In the end, Steve Jobs received a pass on any penalties while the SEC forced Anderson to pay more than $3.5 million in what the government called "ill-gotten gains" along with interest. Now given the statements by Anderson and another defendant, the SEC may continue to investigate Jobs' involvement in the backdating problems that plagued Apple.