Significant constituencies are pushing for changes in the oversight of executive pay in the United States, writes attorney Joseph E. Bachelder III. Many in the academic world and in the media have pushed for legislative as well as other changes. However, courts do not like being arbiters of disputes over what is reasonable compensation, as shown by the recent, abrupt conclusion of New York state's lawsuit against Richard A. Grasso.
Will Courts' Reluctance to Address Executive Compensation Push Congress to Act?
New York Law Journal
August 28, 2008