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For many people, no amount of outperformance can justify such extravagant compensation.
After all, in the corporate world, extravagant compensation has never guaranteed extraordinary results.
The change comes at a time when many investors are angry about risks corporations are taking for short-term profit gains and extravagant compensation packages for executives.
Mr Bush has repeatedly called on Congress for new federal laws to curb extravagant compensation claims and to stop lawyers "shopping around" local courts for a friendly judge who will be lavishly generous in awarding someone else's money.
Ms. Oponyo said that she was barred from talking about her association with the foundation, and that she could not comment on the allegations in the report of mismanagement — including whether she benefited from an extravagant compensation package that included that car and driver and golf club membership.
Your March 21 editorial about Walter Hewlett's opposition to the Hewlett-Packard and Compaq merger, in part because of anticipated post-deal "outrageous executive compensation," should reawaken shareholders elsewhere to hold their directors and compensation committees accountable for extravagant compensation schemes, and particularly schemes not clearly related to executive performance.
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"Comptroller Weitzman has already determined that Nassau County residents pay the price for excessive compensation, extravagant spending and a lack of adequate record keeping in the form of higher costs for trash removal," Mr. Hevesi said in a statement.
In recent weeks, both Ms. Gillibrand and Mr. Ford have sought to portray themselves as allies of the financial industry, even as they acknowledge public outrage over extravagant executive compensation deals.
It is surely not coincidental that we can date the acceleration of income inequality and the rise of extravagant CEO compensation to this moment.
As Volcker told me, it doesn't really deal with a number of issues that contributed to the crisis, such as extravagant Wall Street compensation practices, misleading accounting, and incompetent credit rating.
Then, Governor Scott Walker of Wisconsin stepped up, insisting that Wisconsin's budget deficit was caused by extravagant public employee compensation packages, driven by rapacious and irresponsible unions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com