In his two decades as CEO of General Electric, Jack Welch built a billion-dollar personal fortune from a high salary, pension contributions, bonuses, and various capital incentives - mostly stock options. And this was probably the most highly admired executive in America.
The admiration was somewhat muted by the unhappy revelation, after the hero retired and suffered a bitter divorce, of massive fringe benefits that were plainly indefensible.
Welch's high reputation and visibility intensified the criticism, but there's no reason to suppose that other business leaders (including some of much lesser importance) have failed to dip their paws into the same trough of perks. And that, remember, is on top of financial 'compensation' and 'incentives' that always add up to colossal sums.
A few years ago, I reported some puzzling findings of business analysis by motivation consultant John Fisher. He noted that numerous studies over the years in the US had found virtually no correlation between increasing pay and corporate performance.
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