Nothing is as bothersome to corporate CEOs as the annual ritual of subjecting their compensation to outside scrutiny. Disclosures of king-size pay packages and royal perks regularly rouse public resentment and shareholder revolts, not to mention congressional calls for reform. Unable to cap the criticism, the bosses are moving quietly but aggressively to plug the flow of information. In their cross hairs are the compensation consultants who prepare the data under contract with big corporations. Led by the Business Roundtable, the captains of industry have issued veiled threats to consultants who share information with journalists, financial analysts and regulatory authorities. The...
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