Tuesday, February 24, 2009

When Greed Was Normal

Inexplicable that, for all these years, we have tolerated this practice of awarding millions in bonuses to executives for simply doing their job or, in many cases, not doing it. That money comes directly out of the till. It could be used to make a business more structurally sound and less subject to collapsing like a house of cards.

Stockholders have learned to demand better. The next time we invest in a company, we want to know that it's not throwing huge amounts of hard-earned assets at one person who, historically, is as likely to be cheating or just not paying attention as he is to be driving the boat.

Thanks to Sully Sullenberger for showing that, somewhere, honor still exists.

photos: (left) Merrill Lynch CEO John Thain, (right) Captain CB Sully Sullenberger

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