Vivid Girl Chasey Lain

When I learned of Crowe's ideas back then, I thought they were great. (He also champions the notion that the value of options should be charged to earnings when they're issued and believes that insiders should disclose their stock sales before the fact; he does so in letters to shareholders like this one.) I later had some second thoughts about the aggressive options-pricing scheme, which I'll get to in a minute, but what I still like about it is the attempt to minimize the ability of mediocre executives to make massive options scores behind a smokescreen of pro-shareholder rhetoric.

Vivid Girl Chasey Lain

So far there's been little sign that shareholder disgust with all of this will have any effect on the corporate boards that actually approve executive compensation deals. Perhaps that will change. If so, the spirit of Level 3's idea is worth holding on to: An "enormous payoff" should result from an above-average performance, period.

Vivid girl Chasey Lain

Chasey Lain, Chasey, Kobe Tai, Racquel Darrian, Kira Kener, Taylor, Christy and Chasey Lain .

The big theme of last year's compensation stories was a scramble for options by CEOs jealous of the enormous stock payouts going to dot-com chiefs. This year, not surprisingly, the theme is backpedaling. Cash payments are up. Options are being repriced. Special compensation awards are going even to CEOs who did not meet financial goals. This is par for the course: Executives who were perfectly willing to take full advantage of obviously inflated share prices suddenly discover the market's imperfections when confronted with the downside. Maximum reward, no risk at all. (And just to keep Crowe's bravery in perspective, his 1999 base salary was $350,000, and he got a $1 million bonus; the 2000 figures aren't out yet.)