And how successful has that been? There is a great disparity in the 'reach' between money-conscious Share-holders and an entrenched CEO who often has lap-dogs on the Board of Directors. Wasting the corporate (i.e., the Shareholders) assets to line their own pockets, as I am sure you have witnessed as well. It is pandemic among American management almost. I am wondering whether the best approach (i.e., most feasible) would be one where management is, as a matter of state law, in a new Uniform Corporate Law Code or some such , not allowed to dilute company shares for their own compensation. I.e., no deferred or reserved stock options for services or compensation. Period. Cash on the barrel head only.
I can forsee Delaware not going along though.
So Federal jurisdiction might be necessary...although I loathe giving them authority in such an area. And the likelihood of passage would be low. After all..."corporate donors" = Congress in way too many cases.
Agreed. What they need to do is pass a law requiring management salaries to be approved by the shareholders. Maybe even require a supermajority vote. The problem is that shareholders just go along with management.