Have you noticed the efforts to diminish the compensation or banking honchos and Wall Street hotshots?
Or at least make it look that way.
Our friends at Goldman Sachs are in the forefront, which should give you lots of confidence that the effort is for real.
The bonuses are in restricted stock that has to be held at least five years, so if the stock value went down 20% the banker would receive only $8 million instead of the $10 expected—poor baby, a lousy $8 million dollars, that’s terrible! Of course, the stock goes up 20% they’ll pick up an extra two mil.
Goldman …read more

Lies. These days it seems that everybody lies. Politicians, but that’s not new; corporate honchos, way more than previously; religious leaders, in the name of CYA; parents, for their kids own good; kids, because they’re kids; and on and one.
Richard Bach believes that the worst lies are the lies we tell ourselves, while Mark Twain believes there are three types of lies, there are lies, damned lies and statistics. I like that; I’ve always thought that statistics are like the Bible, you can spin them to support any view.
Adolf Hitler said, Make the lie big, make it simple, keep saying …read more

There is a dangerous assumption out there that ‘leaders’ are chuck full of positive traits and on the side of the angels, but I’m here to tell you that it ain’t necessarily so. Just as leaders come in all shapes, colors and sizes they come with a wide variety of traits, not all of them positive. But it seems as if succession is tough all over.
Italian police have caught the Sicilian Mafia’s number two, the latest in a string of top-level arrests that has given the crime group that once terrified Italy problems with rebuilding its leadership.
The hero …read more

Neglect. Drugs. Abuse. Molestation.
Where do you go when those four words describe your parents and your home life?
Where do you sleep; what do you eat?
When you’re cold and hungry you do what it takes to survive, including stealing and selling whatever you can find to sell—including yourself.
And these kids are as young as 10 years old.
The NT Times ran a two-part series called Running in the Shadows about teen runaways. It should be required reading for every American (part 1 and part 2).
Children on Their Own
This is the first of two articles on the growing number of young runaways in …read more

Saturday we looked at some incongruous actions and compensation of various CEOs and it reminded me of something I read a year or so ago, so I went looking and found it. Amazing!
I realize that housing is a touchy subject these days, but over the last few decade as houses got bigger and bigger I found it weirder and weirder.
There’s no way to ever convince me that any family or person, really needs a seven thousand-plus square foot house in order to live comfortably—let alone 10,000 and up.
The item I remembered article was  an UpFront blurb in Business Week that …read more

Yesterday was Bosses Day and in honor of that I’m going to share some information on bosses—BIG bosses.
These days’ people are incensed with executive pay packages on and off Wall Street.
For years there has been much talk about pay for performance, but I haven’t seen any strong connection—have you?
And certainly not this year.
But the recession doesn’t seem to have slowed down CEO compensation at all and I’m not even referring to Wall Street.
You’ve probably never even heard of the 5 most highly compensated CEOs, unless you are unfortunate enough to own the stock or work or been laid off from …read more

The leadership industry dotes on the idea that visions are what make leaders, since they influence people, and that visionaries aren’t like you and me and require special handling.
It’s CEO visions—those rosy predictions, high hopes and self-deluding prophesies—that fill annual reports that sway analysts.
From Business Week: Are stock analysts swayed by an annual report’s CEO letter to stockholders? Yes, concludes a forthcoming study in Organization Science. Researchers from Pennsylvania State University and other schools looked at 367 shareholder letters written by new CEOs from 1990 to 1999—giving each leader a “charismatic vision” score. To assign ratings, they scrutinized the …read more

Executive compensation is in the limelight these days—not that it’s ever out. People have always been fascinated by the lavish paychecks of high profile players, whether business leaders or Hollywood icons.
The list of executives paid for non-performance in 2006 pales in comparison to CEO pay in 2008.
We’re all taught the value of hard work, exceeding goals, giving our all, but some have found a better way—a loving Board.
Non-performance bonus money isn’t new; in 2007 Coke had a $2.9 billion noncash charge in the fourth quarter, so they cut 3500 workers and their execs missed their performance bonus targets, but the …read more

Last Thursday the John Ensign (US Senator) scandal triggered a post about the hypocrisy kids see these days in so-called leaders; not their lies, but their over the top do-as-I-say-not-as-I-do attitudes and actions.
In response, Dan Erwin commented that rather than standards, i.e., set rules, he preferred to teach his kids about covenants, because “Legalism, in all its forms, is really death-giving stuff. I go back to covenant…covenants get renegotiated.”
By definition, a covenant is “an agreement, usually formal, between two or more persons to do or not do something specified.”
But Ensign’s hypocrisy was pushed off the hot seat by the same …read more

(Today continues a conversation initiated last Thursday and added to yesterday.)
Everybody lies about sex. Those who aren’t getting any say they are and those who are getting it where they shouldn’t deny it.
Governor Mark Sanford followed the same path of Newt Gingrich, Bob Livingston, Rudy Giuliani, John Ensign, David Vitter, Larry Craig, Mark Foley, Helen Chenoweth (the first woman) and many more.
But you know what?
I don’t care. At least, not about the sex—or even the lies. Even the lies under oath, because I don’t believe that an oath is going to change someone’s attitude about admitting something they don’t want …read more