And there was plenty of reason to worry. That, of course, didn't happen. With stock ownership becoming the norm in America, this was a powerful argument. But times have changed. Companies now are falling far short of their profit expectations.
Stocks are way down.
The board will pay you anyway. Corporate boards say they must pay executives what other companies pay or they'll lose them. And the boards are made up mostly of executives just like those whose compensation they're setting. There are a few bright spots. Also, at least we k now in this country what most top executives make.