Gretchen Morgenson of the NYT wrote recently (“When Shareholders Make Their Voices Heard,” April 8, 2012) about Say on Pay and indications that, “some companies seem to be listening.” This is heartening news indeed but I still have reservations about Say on Pay because, in the end, precatory proposals…
Corporate Governance 2011 — Year End Reflections
1. The Elephant in the Living Room. The single best indicator of the state of corporate governance – a system of accountable power – is the capacity of senior management to increase their own compensation that has been going on for two decades. The metaphor of the elephant in…
