There is increasing evidence that the nation's executives are upset with the increasing agitation being voiced in the house and senate about executive salaries, bonuses, parachutes, and other perks that CEOs are receiving.
One CEO, who wished to remain anonymous, said "We have been scapegoated for all the problems in the economy. It is definitely not our fault that government regulation of our business has been diminished. Certainly the SEC is to blame for much of what has happened. For example, their requirement that executive benefits be limited to less than $10,000 was indeed micro management at its worst."
As a result of this ruling companies are reducing the perks for executives. For example, there has been a significant reduction in the payment of country club fees. This is particularly devastating because most senior executives work their way up in corporations by networking while playing golf or tennis.
CEOS appear to me the most upset about losing the personal financial advising benefit---a reduction of 74 % to 62 % in the past year in the Fortune 100 companies. They argue that this perk is of value in running their organizations. There could be some truth here. The Dow Jones average dropped 770 points on September 29th.
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