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Response to JDPriestly (Reply #6)

Thu Jan 10, 2013, 11:53 AM

10. I'm sure that ...

In Greenberg's mind, he is ONLY looking out for ALL AIG investors, large and small; the fact that he stands to benefit, in a big way, from this suit, is merely coincidental.

What drives me nuts about the current state of corporate governance is, on the one hand, corporate boards have a fiduciary duty to ensure share-holder value; but they continue to allow naked self-dealing when it comes to executive compensation. They are quick to argue for the primacy of wage pressure; but only for the wage-earners, i.e., non-executives. "We pay our employees what the market will bear. For every job, there is someone out there, qualified and willing, to do it for $1.00/hour less." But this sacred free market principle simply does not apply (is not applied) when it as it comes to the C-Suite. They wish us to believe that there is no one out there willing and able to do the CEO function for $1,000,000 less. But every other non-western corporation seems to be able to find CEO caliber candidates, that consistently out-perform their western counter-parts, for significantly less.

I think it's a cultural thing.

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Replies to this discussion thread
Arrow 14 replies Author Time Post
MrScorpio Jan 2013 OP
onehandle Jan 2013 #1
lastlib Jan 2013 #2
onehandle Jan 2013 #3
1StrongBlackMan Jan 2013 #4
Baitball Blogger Jan 2013 #5
JDPriestly Jan 2013 #6
LineLineNew Reply I'm sure that ...
1StrongBlackMan Jan 2013 #10
JDPriestly Jan 2013 #14
kairos12 Jan 2013 #7
ChazInAz Jan 2013 #11
efhmc Jan 2013 #8
Sheepshank Jan 2013 #9
KurtNYC Jan 2013 #12
Manifestor_of_Light Jan 2013 #13
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