hackysak
Premium
join:2002-03-23
Summit, NJ
 ·Verizon FIOS
| This is why..
You can't give the corporate heads too much leeway.. There need to be safeguards in place to keep them in check (Yes, I'm sure there are probably SOME honest people out there, some of them execs, but I think the majority can easily be swayed if the price is right).. The board of directors was SUPPOSED to be that safeguard.. But, it's hardly a safeguard when each of the CEO's hand picks who sits on the board..
Also, we, stockholders, are partially responsible for allowing these companies to get away with so much. I know many people who ALWAYS went with the recommendations from the BoD on the proxies (they didn't even READ what the hell was being proposed)..
Going forward.. Boards need to be completely independent and unrelated to the CEO's.. Shareholders need to be MORE INVOLVED with what is going on..
[text was edited by author 2003-07-28 15:09:30] |
