Many of the most egrigious cases of CEO over-payment are trumpeted as examples of why CEO pay needs to be controlled (by the government). Though while they do skew the numbers remember that there are a LOT of CEOs in the country – its not just the Fortune 100 or 500. Most of these are hard working and make a good salary but not a fortune. Instead they are tied into the worth of the company – whether it is privately or publicly held – through stock ownership. If the company does well then they do well.
On the other hand I do find some of the severance packages unconscionable. If a company is willing to pay a (failed) CEO $10 or $20 million to go away perhaps they should spend a little more time/money on the front end and get someone better. Heck, if someone wants to make me a good deal I’ll settle for a $5 million package and promise to leave before I f*ck things up too badly!
