To: RetiredNow who wrote (63649 ) 4/20/2003 2:37:25 PM From: Lizzie Tudor Respond to here's an article on overcompensation of executives, it is a SF paper so they focus on tech but at this point I think other industries are just as bad or worse than tech (I'm thinking of United here)... anyway Chambers and Cisco is mentioned... as usual Chambers/Cisco looks like the better corporate citizen. Between McNealy, Chambers and Jobs- McNealy is the most overpaid imo.To narrow the gap between the CEO and the average worker, Angelides proposed Thursday that investors reject stock options packages that allocate more than 5 percent of options to a company's top five executives and more than 25 percent to all executives and directors. Lizzie- the reason broad based options packages are superior is because the most successful companies use these, I don't know why this article doesn't mention that... I'm sure that is Angelides' true motivation for supporting broad based options packages. Options that only go to the top are just gravy trains for a few and don't do much good for the company.Angelides, who sits on the boards for California's two largest pension funds, has urged the funds to adopt the proposal. And the New York Stock Exchange is considering requiring companies to seek shareholder approval for all their major options packages. "There is going to be real pressure for reform once shareholders can vote (on such proposals)," Yerger said. sfgate.com
