April 8, 2006
It is patiently obviously that this rule should pass into law. Currently the law is unsatisfactory and in the case in one of the companies I own (General Electric) it took a divorce case to find out the perks and lurks that the former CEO, Mr. Jack Welch enjoyed.
At the end of the day, it is shareholders money not company money that executives are feeding themselves on. A rule like this has been long time coming.
If anything the SEC should institute a new rule that investors should have to vote for the pay package of directors/management at the Annual General Meeting like in the United Kingdom. Then the directors/management would have to pay attention to us - the owners