I am probably in the camp that setting a cap on sr. management salaries will drive them away to other areas. But in this case, I am thinking - where are they going to go in this economy? Who is going to give them that compensation (especially when they have not proven their ability to run a company).
When I look at the CEO of my company, who probably makes $10M+ per year, although I think it is more than any human needs to earn, I also think that if he is running out company properly, adding shareholder value and keeping thousands of people gainfully employed he should be rewarded (and to me, a guy that can do this, is worth more than any sports figure). Now if you cannot do those things (add shareholder value, keep people employed) then you should not get a bonus (and maybe need to be replaced by some one that can).
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GO FLAMES GO
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