[Batrachian]

This episode points to a serious problem with U.S. businesses. Officers of the board take hundreds of millions of dollars in compensation from the company, and then that money isn't available to reinvest in the company. R&D, new equipment, competitive salaries for the rank and file, service to the customer, all of it siphoned off into the pockets of the board members. Some companies that are already weak wind up going bankrupt because of this sort of thing.

I almost hate writing this because it sounds like a Democrat anti-capitalist talking point, but it really is bad for business, and the sums involved are so huge that you have to wonder, who would want that kind of money anyway? It wasn't always like this, either, and it's not a good development.

[Beck_isright]

Be prepared for a bbt attack now...shame on you.

[goodnesswins]

I agree with you....as an MBA/conservative.....this seems to just be an extension of a shakedown he and the Board were "legally" able to complete. I've pondered making a database of all the Board members of all the Major Corps, News Organiz people, Politico's, Hollywood types, etc.....and see where all the cross fertilization is. (Hope that makes sense.)

[dennisw]

Dick Grasso is part of the greed is good mentality. Greed and financial ambition have their place but sheeesh...

[Alberta's Child]

You raise an excellent point.

The real problem isn't the guy who's getting a big compensation package, though -- it's the people who are willing to pay him that kind of money in the first place.

[Moonman62]

This episode points to a serious problem with U.S. businesses. Officers of the board take hundreds of millions of dollars in compensation from the company, and then that money isn't available to reinvest in the company. R&D, new equipment, competitive salaries for the rank and file, service to the customer, all of it siphoned off into the pockets of the board members. Some companies that are already weak wind up going bankrupt because of this sort of thing.

Sure it's a problem, but it isn't anywhere near as serious as the problem of the government stealing money from the private sector. We've lost our priorties, so that we may jump on the trendy villain bandwagon.

[TopQuark]

Officers of the board take hundreds of millions of dollars in compensation from the company Name one.

[TopQuark]

I almost hate writing this because it sounds like a Democrat anti-capitalist talking point, It most certainly is.

but it really is bad for business, Indeed if you assume that this what happens. It does not.

It wasn't always like this, either, and it's not a good development.

The last point is the crux of the issue. The price of talent has skyrocketed in recent years -- across the board. See here examples.

It is the leftist media that makes us focused only on the pay for the talent in the corporate word and insinuates that they are all crooks.