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« New York Times: New Twist in Siegelman Appeal | Main | Wingnuts & Shrimp »

November 22, 2008

Comments

J. Lynne

I've never understood how management could still get bonuses while the company was deteriorating. Years ago, at a previous job, when we went through layoffs and the CEO got fired for running the place into near-bankruptcy, he got a quarter million severance. When I got "involuntarily terminated", I almost didn't get unemployment benefits. If you're a big shot, if you aren't don't a good job, you shouldn't be rewarded for it. If there were real penalties, then maybe there would be less of these kinds of failures. Upper management would make more careful decisions.

I mean whatever happened to the idea that the bigger they are, the harder they fall?

J. Lynne

I've never understood how management could still get bonuses while the company was deteriorating. Years ago, at a previous job, when we went through layoffs and the CEO got fired for running the place into near-bankruptcy, he got a quarter million severance. When I got "involuntarily terminated", I almost didn't get unemployment benefits. If you're a big shot, if you aren't don't a good job, you shouldn't be rewarded for it. If there were real penalties, then maybe there would be less of these kinds of failures. Upper management would make more careful decisions.

I mean whatever happened to the idea that the bigger they are, the harder they fall?

Deb Cupples (Buck Naked Politics)

Hi J. Lynne,

How've you been?!

I agree with you. The problem is that if a company's board approves executive compensation, then the compensation packages generally are legal. The courts give Boards great freedom with respect to compensation.

It shouldn't be that way, but it is (for now, anyway).

Shareholders and taxpayers should be up in arms.

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