This page contains a single entry from the blog posted on February 11, 2009 2:53 AM. The previous post in this blog was Dear Nick Fish. The next post in this blog is The Sam Adams recall people. Many more can be found on the main index page or by looking through the archives.

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Wednesday, February 11, 2009

Just another day in corporate America

Run your company into the ground, collect fat bonuses.

Comments (4)


Clearly I've chosen the wrong line of work.

Doesn't matter what line of work I've chosen. It's the wrong one.

Ever wonder how these huge executive compensation packages come to be? It is not illegal to rig corporate board of director elections. Also it is not illegal to use corporate money to "throw" an election or to impugn or defame a challenger.
I know. I was a candidate for a corporate board of directors and all I got for it was insults and defamation...Using my money as a stockholder!

In fact there are people that are known for their "rubber stamp" propensity and are highly sought after by CEO's for sitting on corporate boards. They will "rubber stamp" anything. Often they are used by more than one board and CEO.

Combined with the fact that a corporation can effectively "lock out" all challengers the CEO can dictate his/her own terms when it comes to salary and benefits.

Don't think that investors don't know about all of this. People wonder why many are pulling out of the stock market. I wonder why anybody is still in the stock market given those rules of the game.

Clearly, we need to run government more like a business.

So if these execs don't get bonuses, they may walk away from their jobs? Where are they going to go in this economy? Who is going to hire somebody that just trashed a company in any economy. Or do they have enough stashed away that they can sit out the next decade on some South Seas island?

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