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Must Read Piece by Ben Stein
By JLP | February 16, 2006
I’m a little behind on my reading. I just found this excellent column by Ben Stein titled New Front: Protecting America’s Investors. What he says echoes my belief: something has to be done with the way corporations are being run. Plain and simple. Corporate boards have to start standing up for the stockholders rather than the executives. Lawsuits are not the answer because all they do is redistribute the wealth from the executives to the lawyers. I respect Ben Stein for talking about this issue.
Okay, I’m stepping off the soapbox and heading off to bed.
Topics: Miscellaneous | 4 Comments »
February 16th, 2006 at 2:43 am
That was a powerful article. Thank you for linking it.
February 16th, 2006 at 5:03 pm
Thanks. I always enjoy it when Ben Stein writes something.
February 16th, 2006 at 6:30 pm
Thanks! Fantastic work by Stein. I’m not sure I am wild about a guy who worked for Nixon, but his arguments are compelling in that editorial.
I’m all for starting a shareholder revolution to make compensation committees value executives more rationally. How can I guy who drives a company into the ground make over $5 million a year? That man should be fired! (And no offense, it almost always is a man…)
February 17th, 2006 at 9:19 am
With the Sarbanes-Oxley act now in place, I believe we’re seeing an improvement in corporate governance. However, executive compensation should be disclosed at a bit more of a granular level – it’s out of whack.