No, this isn't an issue with your average unionized or non-unionized shmo worker. It's a complaint about the "man at the top", the CEO, CFO, CIO, CCO, CRO ... (OK, I made the last one up) ...It's about board's doing their duty to the owners of the company, even if they are transitory traders, and making sure that the pay of the high level executives are reasonable. What is reasonable? Weeeell, if you need an executive compensation firm to provide you some base thinking around that, then you are too dumb to be a director. So please quit now.
When the compensation levels begin to look like some stratospheric sports hero - overpaid but at the peak of his game - you are paying far, far, too much. Pay them in shares that must be held for long periods of time, in addition to a reasonable base salary. And everything measured on performance, relative ONLY to the industry they are in. Did I really need to tell you this? Grow some balls, as my kids say, and do what is right. Stop looking for an executive compensation firm to give you the dirty, so you can continue do what is wrong about Wall Street.
Want to feel good about yourself? Stand up for a principle for a change. Me, and other shareowners, are begging for it. Stop gold-bricking - both the board, and for the overpaid executives.
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JW The Confused Capitalist
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