Tuesday, October 17, 2006

Foxes guarding the chicken coop (CEOs setting own salaries)

William McGuire, CEO of UnitedHealth, is the latest to get caught with his hand in the cookie jar. No wonder health costs are so high.

I wrote about the conflict of interest six years ago; I said that all the interlocking directorships of CEOs serving on each other boards does not give them an unbiased view toward executive compensation. You scratch my back; I'll scratch yours.