Voices
And then we have the CEOs in
the financial industry, heads of
huge banks like Lehman’s, Bear
Stearns, and Merrill Lynch, or the
insurer AIG. These CEOs took their
companies to the edge of bankruptcy or beyond and still walked
away with hundreds of millions of
dollars in their pockets.
It’s not hard to write contracts
that would ensure that CEO pay
bears a closer relationship to the
company’s performance. For example, if the value of Raymond’s
stock incentives at Exxon were tied
to the performance of the stock of
other oil companies (this can be
done) then his going away package probably would not have been
one-tenth as large. Also, there can
be longer assessment periods so
that it’s