“Even the most jaded observer of American corporate culture had to blink when, earlier this month, Home Depot’s board of directors handed the company’s C.E.O., Bob Nardelli, more than two hundred million dollars after pushing him out of his job. Nardelli had not delivered for shareholders Home Depot’s stock price went down about six percent during his tenure. And, while his operating performance was actually quite good, he would have made a lot of money even if it hadn’t been: most of his contract was guaranteed, and, when he had a hard time meeting a particular target for his bonus, the board generously substituted an easier one.”

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