However as we've seen in some instances the payback is on the way for
those who took the short term gains from down sizing a bit too
seriously at the expense of long term gains.

Unfortunately, the chickens have not yet come home to roost. There
was a study released this week on CEO pay at the layoff kings.
Searched news.google for "CEO pay layoff" and found this from
http://seattlepi.nwsource.com/busine..._ceopay26.html


=======quoted news article==========
....new report from the Institute for Policy Studies and United for a
Fair Economy. Their 10th annual Labor Day report finds that:

Average CEO pay rose 44 percent in 2002 at the 50 firms with the most
layoffs during the 2001 recession, even though CEO pay overall was up
just 6 percent in Business Week's 53rd annual executive-pay survey.

The typical CEO made $3.7 million last year compared with $5.1 million
for layoff leaders.

Boeing Co. Chairman and Chief Executive Phil Condit was paid $3.9
million in 2002, even as the airline industry suffered through the
second year of the worst downturn in commercial aviation history with
Boeing announcing cuts of more than 35,000 jobs since the downturn
began.

PC maker Hewlett-Packard had 25,700 announced layoffs in 2001 at the
tech contraction's height and a 2002 pay package totaling $4.1 million
for chief executive officer Carly Fiorina.

They weren't the highest-paid, however.

Topping the layoff list was Dennis Kozlowski, who pocketed $71 million
from Tyco International in 2002 before being forced out midyear.

Before his indictment on charges he evaded $1 million in sales tax on
fine art purchases, Tyco and Kozlowski announced layoffs in 2001 for
11,300.

Top executives pocketed an average $5.9 million compensation package
in 2002 at the 30 companies with the largest deficits in pension plans
-- collectively totaling $131 billion at the end of 2002, based on UBS
Securities pension-underfunding tallies.

Those paychecks were 59 percent higher than the average $3.7 million
paid to CEOs at Business Week's 365 largest companies.

General Motors, which led the problem pension list, paid $6.2 million
compensation to CEO G. Richard Wagoner Jr. in 2002, based on
Securities and Exchange Commission filings. GM has since covered its
pension shortfall by floating $17 billion in corporate bonds, which
eventually must be redeemed.

==========end quoted article============