Friday, October 20, 2006

The invisible hand controls the market?

I just updated my Northland Reader article from 2000 on executive pay, "Talk about Boards with Conflicts of Interest!" I found that many of the links were no longer valid, and so I did another search. One search was

fiorina pay 1999 "69.4 million"

Carly Fiorina was the newly hired CEO of Hewlett-Packard and was one of the highest paid CEOs at the time.

Google only gave me six hits and only one seemed relevant:

The Winner-Steal-All Society and the persistence of the CEO-market myth
It has a great quote:

"[When] it comes to CEO pay, the grasping hand usually trumps the invisible one."