The news today has items on how about 30 executives have been fired for their part in recent options "backdating" scandals. For the uninitiated, this means they got to choose the most advantageous time for their stock options to vest, which more or less means that they got huge pay for no work.
Firing the executives for crafting and accepting these deals is a good start, but I'd suggest that this egregious abuse of the interests of stockholders (and employees) would have been prevented had another group of people responsible for monitoring executive compensation been doing their job. Let's hope that investors take note and start sacking some boards of directors.
Komissar Kim Norton, MkKarthyist - We’ve gone around and around with Representative Kim Norton of Rochester. Norton, who is retiring from the Legislature after this coming session, is going...
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