However much you may rate the guy, there is of course no way that GD's work could be rated for remuneration as justifying the equivalent of say 60 QF Captains' salaries. The simple truth is that power is being abused in a way worthy of any African dictator, by the boards of companies all over the world who have their collective noses in the trough, moving wealth to themselves in amounts beyond any fairness, at the expense of both shareholders and fellow staff. The oft quoted rationale of motivation and risk-taking has long since been lost - bonuses are paid in good times and bad, and failure is often rewarded as handsomely as success. The so-called independent remuneration committees are usually no such thing, being often stuffed with non-executives who are simply directors from other companies, who just indulge in mutual back scratching. Ditto the boards of the majority shareholding institutions, guardians of our savings and pension funds, who should but don't stop this with their AGM votes, no doubt fearful of setting off a chain reaction on their own City bonuses. In short, the alleged corporate governance system relies on foxes to guard the chicken coop!
Last edited by Max Tow; 1st Oct 2008 at 11:14.