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I wonder, Jim, if this 'argument' is really over. My guess is that executive pay is 'off limits' to our profession with the exception of some executive pay advisors who provide information much like "4 plus 4 equals 55". I have seen very few people tell an senior executive they are 'overpaid' for the value they add to the business.

Do you know anyone who really 'steps up to the plate' on executive pay???? I wonder.

Most consultants are paid mercenaries who give their client what they want, which is very easy to do, as you know, Jay. Some like Bud "got religion" late in life and have been trying to make up for past sins. Fred Crandall did good work on the moral hazard topic, too. Even I spent many years doing IRS reasonable executive compensation challenges, with similar reports for private counsel, CPAs and boards of directors wanting an honest objective study.

Never thought much about it, but I have probably told more CEOs they are overpaid than anyone else in the biz. The vast majority with egregiously unjustifiable pay settled rather than spend millions for a Tax Court fight.

The increase rate for NEOs tends to be a lot higher than for ordinary workers, but no one seems to consider that relevant for top management pay decisions. Doesn't that seem strange?

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