Not convinced? Marks & Spencer's CEO, Stuart Rose, and FD, Ian Dyson, saw their bonus schemes modified so that they really have to work to receive their bonuses. They will now have achieve earnings per share 12% over inflation before they can trouser their money, instead of 10%. So has something changed? Perhaps there is some more sensitivity around, and executives are beginning to see that you can't just pocket the cash and walk away with an absolutely clean reputation. The stories about rewards for failure may have had their effect. Mind you Tesco chief Sir Terry Leahy, a massive success story by anyone's estimation, looks as if he might be more stubborn. According to reports one in six shareholders have objected to the master grocer taking more than £11m in bonus payouts if the new US venture works out well. You've got to ask which shareholders they are. If Leahy manages the returns the big institutional shareholders like, would they really object to the pay out? And if the one in six are largely small shaeholders, will Sir Terry and the board take any notice? We wait to see.