Edna According to Business. Week, critics of Welch have questioned whether the pressure he placed on employees may have led them to cut corners, which may have contributed to controversies over defense contracting, or the Kidder, Peabody Co. Welch has received criticism for a lack of compassion for the middle class and working class. By his actions during acquisitions and wholesale shutdowns of GE business units Welch proved that keeping only the good units of a company can maximize ROI in the short term. Welch has stated that he is not concerned with the discrepancy between the salaries of top paid CEOs and those of average workers. When asked about the issue of excessive CEO pay, Welch has said that such allegations are outrageous and has vehemently opposed proposed SEC regulations affecting executive compensation. Scrat`S Continental Crack Up Watch Online on this page. Countering the public uproar over excessive executive pay including backdatingstock options, golden parachutes for nonperformance, and extravagant retirement packages, Welch stated that CEO compensation should continue to be dictated by the free market, without interference from government or other outside parties. Welchs income and assets came under scrutiny during his divorce from his second wife, Jane, in 2. GE. Welchs contracts with GE were subsequently investigated by the Securities and Exchange Commission. The retention package, worth 2. Welch and GE in 1. CEO including an apartment in New York, baseball tickets and the use of a private jet and chauffeured car. The benefits were agreed upon in lieu of a more traditional stock package because, according to Welch, he did not want more money, preferring instead to retain the lifestyle he had enjoyed as CEO once he retired. According to an interview with Welch in 2. SEC. As a result of the media attention and accusations of being greedy, Welch chose to renounce the benefits.