Are Executives Worth Their Compensation?

Here's a fact we learned this week: Nearly 700 Merrill Lynch employees earned more than a million dollars last year, even though the company lost $27 billion and was forced to be sold to Bank of America.

It's the kind of news that raises the hackles of Rakesh Khurana, who teaches at Harvard Business School. He tells host Scott Simon that the highest paid person isn't always the best.