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French Pols Criticize C.E.O. Pay
American lawmakers will always offer up sound bites on excessive C.E.O. pay, but in France, the politicians are taking it to a whole new level. The former co-C.E.O. of Airbus parent EADS, Noel Forgeard, received an $11.5 million golden parachute when he left last year, according to the Associated Press.
Because the French government owns 15 percent of the company, the payout is fair game for the candidates currently campaigning for president.
"The state could very well have stopped this," socialist hopeful Segolen Royal told a French television station, according to the A.P.
Meanwhile, centrist candidate Francois Bayrou promised to introduce a "law of economic moralization" in response to the excess pay.
Just imagine what would have happened if the U.S. government had owned Home Depot.
by Megan Barnett
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.
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