Could this be a sign of things to come?  For decades, the pay of top managers in big corporations has escalated to the point where they become mega-wealthy.  This not only angers the rank and file who earn a tiny fraction of the boss’s pay and hands an issue to the left, but also penalizes shareholders. It’s one thing when top management executes creative strategies with diligence and brilliance.  But when a company falls on hard times, it is very difficult to justify paying an actual large fortune each year to the boss who presided over a disastrous year. Something like a populist capitalist revolt just happened at global energy giant BP. Rami Patel of the International Business Times reports: Anger at boardroom excesses in Britain hit breaking point after BP shareholders resoundingly rejected a £14m ($19.8m, €17.5m) pay deal for chief executive Bob Dudley. Nearly 60% of shareholders voted against Dudley's 20% pay increase in a...(Read Full Post)