Incompetence Is No Obstacle…

October 3rd, 2013

Library of Congress Prints and Photos Division

I find it curious that there doesn’t seem to be anyone within these failed businesses complaining about the incredible salaries and bonuses of the top management. Makes me wonder if there is a larger circle of people “taking the money” and laughing to themselves.
(emphasis added)

“Out of the spots on an annual list of the highest-paid CEOs, nearly four in ten have gone to individuals who were eventually “Bailed Out, Booted, Busted,” according to the 2013 edition of the Institute for Policy Studies’ IPS review of CEO pay and performance.The IPS report draws on the Wall Street Journal’s annual list of the 25 best-paid chief executives, dating back to 1994. Of the 241 individuals who have appeared on the list over the past two decades, a full 32 percent have overseen bailouts, been booted from their posts, or been busted for fraud. Report co-author Sarah Anderson told ThinkProgress that “many poorly performing CEOs appeared on the top-paid lists year after year.”
via Incompetence Is No Obstacle To Incredible Wealth For CEOs | ThinkProgress.

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