The Great Pay Debate

If there's one issue in the battle between companies and investors that just won't seem to lie down, it has to be that of executive and director compensation. Some try to discount the importance of high salaries and benefits packages by attributing the hostility they generate to the politics of envy: complaints from those vociferous retail shareholders are all based merely on jealousy, not on rational analyses of their impact on bottom lines. But despite the worldly ways of institutional asset