28 October 2007

Stealing From Yourself

The reality of the modern publicly held corporation is that CEOs can without much difficulty, arrange to have a corporate board of directors increase their pay or give them legitimate loans without much difficulty. So, why do they fall to such pathetic lows as using company money to buy party favors for children's parties? Sure, it isn't really their moeny, but if they had asked for it, in this case and similarly in the Tyco case, they very likely would have gotten it as legitimately compensation.

Also, how is it that the whole charade is unveiled by a military journalist, rather than the company's auditors?

No comments: