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RIP: Comp committee report…

Anyone who reads — I mean, really reads — the compensation committee reports in the typical proxy statement should be given a medal. Talk about a snooze fest that basically says nothing about how the company sets pay, despite the fact that this “report” often takes up several pages.

Well, now it seems as if the folks at the SEC have realized how useless those reports really are. Though the changes won’t be immediate, it’s none too soon as far as I’m concerned. Rest in peace!