This morning, Securities Mosaic sent out a spotlight with top ten lists for executive compensation in 2006 based on the XBRL compensation for 500 major public companies recently published by the SEC in its new Executive Pay Finder demonstration platform, designed to showcase the value of the XBRL framework for publishing financial reporting data.
We can debate the merits of XBRL separately. The top ten list itself is revealing - while the data is old, the numbers themselves are probably even more shocking for 2007. Martin Lipton aside, it is difficult to argue that this compensation benefits anyone but the recipients, and once again it reveals all too clearly the interwoven, incestuous board-officer networks that perpetuate the bubble of unreality pervading executive compensation decision-making.
Put another way, these decisions do not reflect a "foot-washing mentality" with respect to the philosophy of leadership an company service at these major business institutions.
The SEC XBRL is actually fairly graceless and difficult to work with. For spreadsheets containing this data that provide much easier to access to sorting and filtering capabilities, please write directly to me at pschwartz@knowledgemosaic.com , and we will send you these data files immediately.
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