Stockholder Revolt at Home Depot

Today's Wall Street Journal has a great story about the Home Depot Stockholder's meeting. Stockholders withheld votes for directors in response to Nardelli's $115 million pay package since he was hired in 2000. This at the same time the value of the stock has dropped 12%.

Could this be the beginning of the end for overpaid chief executive officers. Pfizer, Exxon, Mobil and Walt Disney have experienced similar situations at their stockholder meetings.

While I am a big believer in paying for talent, I also believe that executive pay has gotten out of control and the time has come for the pendulum to swing, hopefully to a more rational relationship between executive pay and the pay for everyone else including dividends for shareholders!