Setting the Record Straight

Has there ever been a compensation consultant whose report did not support the position of the people who hired him? I don't think so. So, what faith do we place in the report of Fredric Cook who produced a report for the Business Roundtable?

Here's the title of the press release:

"Business Roundtable Releases New Research that Sets the Record Straight on Executive Compensation".

There are a few minor problems with Mr. Cook's analysis which compares CEO compensation to stockholder return at 350 companies:

• Stockholder returns include dividends, CEO compensation does not include dividends on stock owned by the CEO.
• The value of stock options when granted is used for CEO compensation, rather than the value of the options when cashed in.
• Compensation does not include pension benefits, deferred compensation and severance packages.

Does this report "set the record straight"? If you think so, I've a bridge you'd be interested in.