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View Diary: BREAKING: Health Care Scandal in Kent Conrad's ND (updated) (287 comments)

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  •  Blame Delaware (1+ / 0-)
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    Once upon a time, the law demanded that executives always put the owners first, but changes in Delaware law and indifference on the part of owners (investors or mutual insurance) allowed the executives to put themselves first.

    Possible reform:

    1. Companies must not be allowed to pay legal fees or losses for executives sued by investors. If the executives want to buy insurance, they need to do it themselves.
    1. Board members need to have a stake in this and cannot be nominated by the executives.
    1. Performance bonuses cannot be jokes. Any compensation committee members that hand out such bonuses without standards should be personally responsible for paying them.
    •  Non-profits should not have any (1+ / 0-)
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      performance bonuses.  they get paid to perform.  It's called a salary and benefits.  it's time for a complete re-write of the states' corporations laws and reducing the number of business forms so that the crooks can't hide under the LLc,LLP etc. rocks they paid their wholly owned legislators to create.

      Patriotism may be the last refuge of scoundrels, but religion is assuredly the first.

      by StrayCat on Tue Sep 08, 2009 at 07:43:54 PM PDT

      [ Parent ]

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