Reply #73: When I worked at a large bank, the CEO did fantastic work.

[ieoeja]

His biggest success was replacing all of our telecom equipment from Motorola.

And he did this while serving simultaneously as President of Motorola where his biggest accomplishment was landing the bank as a customer.

Yet, he *still* found time to become the #1 rated CEO golfer.

Truly amazing how he could juggle all that.


More direct to what you said, when Merril Lynch laid off a bunch of their low-paid staff, they sent them home in limos. The laid off staffers saw this as just rubbing salt into the wounds which Lynch did not understand at all. Of course, if the CEO of Lynch gets laid off he ends up with a golden parachute and a new job making even more money somewhere else. Maybe they believe that is the way life works for everyone. We have a columnist here in Chicago who -- noting how often he writes about the exact same person bankrupting business after business while getting multi-million salaries -- has a standing offer to bankrupt any business within a year for just $1 million. But they keep opting for the higher paid "experts" instead.


Disclaimer: he might have been President of the bank and CEO of Motorola. I don't recall which way it was. But the point of the story, that the game is rigged, doesn't depend on that technicality.