Obnoxious CEO Pay?

"No law prohibits paying CEO's very, very, very large amounts of money"

Here is an excerpt from an Article in Bizjournals, written by Jim Verdonik:

........ Mr. Spitzer 's....... premier reform litigation cases were against New York Stock Exchange CEO Richard Grasso and various NYSE board members. The cases involved many reform issues, including whether board members fulfilled their duties in approving the CEO's retirement compensation package, whether the compensation package was suitable for a nonprofit company and whether the CEO disclosed all information to board members the right way.

After five years of litigation, the courts decided this month that the former NYSE CEO didn't have to return any of his $139 million retirement package. Likewise, no board member was found liable.

I guess you could say this decision (and other events) made 2008 a really bad year for Mr. Spitzer.


(Image From: CNN Money)