The Problem Is Not What Ce Os Get It's Getting Them To Go

The recession and President Bush's trip to Japan with a cohort of highly paid CEOs focused the attention of both sides of the Pacific on huge executive paychecks. Although some business leaders are surely overpaid, I believe pay is a red herring. The main problem with corporate leadership--and hence competitiveness--is the difficulty in getting rid of CEOs who run their businesses badly. The best way to do that would be to give them fixed-term contracts.

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