More than a slap

It wasn't much more than a slap, but the directors of Raytheon have taken action in the plagiarism case of their CEO, William Swanson, that I wrote about yesterday. He will not get a raise in 2006 and his stock compensation will be cut by 20%; estimates are that Swanson will lose $1,000,000. He will still get his bonus ($2.6 million last year) and all the other usual CEO perks. The directors could have done more. But, at least they did something (including stopping the distribution of Swanson's book). Their action should be applauded.