<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/01c2f5e7-64f6-4feb-aa9a-32e79cafcf37/480A5B70-D3A6-4F3F-8F80-E0436147646A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.latimes.com/business/la-fi-hiltzik23-2009apr23,0,4550671.column" href="http://www.latimes.com/business/la-fi-hiltzik23-2009apr23,0,4550671.column" style="font-size: 11px;">www.latimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.latimes.com/business/la-fi-hiltzik23-2009apr23,0,4550671.column"><DIV>For several decades, the professional financial and corporate class has been able to base its pay on its own self-esteem. Consider <A href="http://graefcrystal.com/articles.html">the corrupt process</A> by which public companies compensate their top executives. These <A href="http://www.footnoted.org/market-meltdown/where-were-gms-directors/">officials sit on each other’s boards</A>, passing judgment on each other's pay packages. Even when there's no direct quid pro quo, they certainly share a common mind-set. </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.latimes.com/business/la-fi-hiltzik23-2009apr23,0,4550671.column"><DIV>Those must have been more sensible times. Today's executives treat pay caps as an unpardonable intrusion into managerial discretion, threaten to walk and complain about having to fly commercial.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.latimes.com/business/la-fi-hiltzik23-2009apr23,0,4550671.column"><DIV>But it isn't that our esteem for success has disappeared, it's that we've discovered that many "celebrated" companies were built on a foundation of rot. If their leaders and managers still think they should be paid and admired as though none of this was their fault, no wonder they're unhappy.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/480A5B70-D3A6-4F3F-8F80-E0436147646A/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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