Directors of the Walt Disney Company may have dodged a bullet, but battles over executive compensation - and especially supersize severance agreements - are here to stay. After yesterday's ruling that
Disney directors did not violate duties to shareholders when they allowed the hiring, firing and payment of $140 million in severance to Michael S. Ovitz, the company's onetime president, the relief
in corporate boardrooms was palpable.
Read the whole story at The New York Times, August 10, 2005 »