CEOs in this country live in a world of zero risk (to themselves). After taking over a firm, they stuff the board with compliant people and cronies, then collect their bonuses whether the firm does well or tanks. They “shoot the moon,” that is, the take enormous risks. If the risks pan out, the CEO gets remarkably generous incentive pay. If the risk destroys the firm, the CEO walks away with only a small bonus for the year, and goes on to another firm.
Stockholder power has been emasculated by US laws that were necessitated by political activists who would buy a few shares of a compnay, then try to push the company into left wing agendas that weren’t at all in the companies’ interests.
The country is fast becoming a parody of itself, as more and more firms, and even municipalities, are begging for a “bail out.” Disgust is the appropriate word.
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