The intitutional investors are the best cops. They are rated on one and
only one thing, value returned. No one reads a fund portfolio and looks
at what a nice guy the fund manager is.The fund manager is graded on
one and only one thing, how well he returns money to his investors. The
fund managers will not allow the board to pay any more for a CEO than
they need to because it directly impacts the fund manager's own bottom
line. CEOs are like point guards. There are few of them out there that
can do a good job and when you find a good one you have to compete
against other companies to recruit them.

-Robert