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The Board of Directors of Goldman Sachs has rejected demands made by a group of shareholders to overhaul the way it pays it's executives and employees. A lawsuit has also been filed.
The argument for large executive pay usually comes down to a few running themes: 1) great visionary CEO’s with leadership skills are hard to come by and 2) the cost of a good CEO is much less...
It's really hard to fathom how a CEO can be worth 364X that of an average worker at his or her company. I'm sure if 364 people got together they could make better decisions than 1 CEO