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Joseph Bachelder III, engineer of the Golden Parachute, dies at 88

In 2003, Bachelder testified before a Senate committee on the subject of excessive CEO compensation, which Senator John McCain said “made a lot of Americans angry.” Mr Bachelder said he did not believe executive pay had ‘increased disgracefully’ and argued that generous compensation was justified by the disproportionate importance of a CEO to a company’s success. .

Mr. Bachelder closed his firm in 2012 and, at age 79, joined the national law firm McCarter & English in its Manhattan office as a special advisor. He continued to represent clients, lecture at Harvard, and write a monthly column for the New York Law Journal. More recently, he wrote on the impact of Covid-19 on executive compensation.

For his part, Mr. Bachelder was able, unsurprisingly, to receive impressive compensation. Joseph Boccassini, managing partner at McCarter & English, said in an interview that Mr. Bachelder billed $ 1,115 an hour.

Joseph Elmer Bachelder III was born on November 13, 1932 in Fulton, Mo., approximately 100 miles west of St. Louis. The family moved frequently.

Her mother, Frances Gray Bachelder, was a housewife and painter. His father, Joseph E. Bachelder Jr., was a professor and pollster who has been credited as being the only one in his field to predict Harry S. Truman’s 1948 presidential victory.

His father’s statistical mind is believed to have influenced Mr Bachelder’s thinking, his sister, Jane Johnson, said in a telephone interview. He had “a computer chip for a brain,” she said.

Joseph graduated from Exeter Academy in New Hampshire in 1950, then graduated magna cum laude from Yale University in 1955, the same year he married Louise Mason. He graduated from Harvard Law School in 1958 and practiced tax law before turning to executive compensation as his niche. He moved to Princeton early in his career and lived there most of his life.

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