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David Cameron has promised shareholders a binding vote on directors' pay packages as a way of curbing excessive awards.
Shareholders have also found their voice at last and started to speak out against excessive awards when company performance has been mediocre in recent years.
Reductions on this scale will not be achieved by weeding out inappropriate claims or excessive awards: on any reasonable estimate the numbers are on a quite different scale.
To address the issue of excessive awards, Mr. Boutrous contended, Congress should consider limiting each state's court system to imposing damages based on a defendant's conduct only in that state.
In the past, Nesson has argued that the way the record companies have conducted themselves is in itself unconstitutional, not necessarily because Tenenbaum has the right to download copyrighted music, but because citizens are protected against arbitrary or excessive awards for civil damages.
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But if the person authorizing payments does not notice an excessive award — something Ms. Ruell says might happen when authorizers are inexperienced or rushed — duplicate payments can be approved.
A shareholder vote might help avert them by, for instance, curbing the excessive award of stock options in the bull market (less than 10% of which, incidentally, went to the top executives).
Even pro-business politicians will repeat complaints that excessive pay awards to CEOs undermine confidence in capitalism.
Democrats argue that insurers are raising rates to recoup investment losses, while Republicans contend that "frivolous lawsuits" and excessive jury awards are driving up insurance costs.
Wyeth's loss dashes the hopes of those who support pre-emption as a tactic for cutting back on excessive jury awards in product-liability cases, which the court affirmed last year in Riegel v. Medtronic.
This strategy was effective because Southern juries were inclined to grant excessive damage awards against those who embarrassed the South.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com