Who says executive pay is under control? $43 millon for News Corp. exec

Part of the collapse of the financial system and concerns about greed and excessive pay and perks across the entire public company sector is that shareholders often get very little and managers get too much.

The new ethos may have been lost on the board of News Corp. (NWS). Chase Carey, the company''s new president, could earn over $43 million his first year on the job. It might make sense to pay him for performance after he has been at the company for several years. It might make sense to pay him if the stock price, which is down 30 percent in the past year, moves up due to corporate performance.