CEO Bonuses increased 46% in 2004

While the economy sputtered along, WSJ reports that:

At 100 major U.S. corporations, CEO bonuses rose 46.4% to a median of $1.14 million, the largest percentage gain and highest level in at least five years, according to an exclusive survey by Mercer Human Resource Consulting in New York.

That's fair, isn't it? My portfolio also went up by 46% so this is ok...wait, no, I was actually in the red last year.

Am I the only one with a problem with this?