Pay for Performance

That's been the mantra for exorbitant CEO compensation plans (Note, you can't simply say 'salary' anymore). Yet Dean Baker runs some numbers showing that many CEOs are being paid for non-performance. From 1997 through 2007, the S&P 500 increased 3.2% a year, counting dividends. That's about what a bond averages. Where is the performance for which CEOs are being over-compensated.