Corporate governance is one of the weak spots of capitalism. There has been evidence of this for a very long time, and there was evidence of it again in a report on executive pay by a research group called The Corporate Library.
The report looked at the cases of 11 companies in which the boss's pay seemed strangely unconnected to performance. In these companies, the CEOs were paid $865 million over five years during which the companies lost $640 million in shareholder value.
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