The global meltdown has thrown the spotlight on executive salaries - and there is pressure to implement some type of restraint. The problem is - what is a reasonable upper level for executive talent ?
The highest job in the western world is president of the United States of America - and yet the holder of that position gets a pittance when compared with the CEO's of public companies.
The heads of banking corporations take home more money than the presidents or prime ministers of England, France, Germany, Japan, Canada and Australia.
It would be an impossible job for government's to legislate to cap the salaries - and the bonus incentives - paid to the CEO's of listed companies traded on the stock exchanges of the world.
The Australian banks are resisting such an idea and maintain that such salaries are warranted to attract the best business brains in the world, but the question remains - is any human being on this planet worth a multi million dollar salary ?
In all probability the end of obscene CEO salaries will not come from government legislation - but from the actions of stock holders who have been burnt by this financial meltdown.
Directors of companies which approve such salaries beware. The public has had enough - and should they persist in approving such huge sums they will certainly face a revolt from shareholders.
That revolt could well take the form of a forced general meeting - as which time the erring directors are forced from office.
There is past evidence that the lucrative world of company directors form a congenial club. They are well rewarded for their services by way of director's fees and their job is to bring expertise to the running of the company. In too many instances they approve obscene salaries on the basis that such largess will be duplicated in their own honorarium.
We are about to see a change from the days when shareholders meekly attended the AGM and voted along the lines directed by the board. The former angry voices lost in the crowd are now more likely to be heard - and acted upon.
What will tame huge CEO salaries is the judgement of " little people " who just happen to make up the majority of those who own the company - and pity help those directors who misjudge the public mood.
A new era of accountability has arrived !
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