Re: Tucci99, "Compensation Is the Symptom, Not the Problem" and "they are cronies"

You got that right. The problem is often not compensation, it's constipation.

When board members are cronies, virtually an incestuous relationship can play out in back rooms; with the plays being called in harmony with "I'm on your board your on mine (or one of your friends is)" and "you scratch mine while I do yours".

With this arrangement, the board can really become constipated (full of crap), having no interest in the stock holders. It's all about them.

This is not always the case, but I've seen it happen. Ever hear of the fortune 500 company who's former CEO retired - after taking the company to the brink of bankruptcy. Showing gratitude for his stellar stewardship, in addition to rewarding the CEO, the board gave his secretary (who also retired at the same time and moved in with the X CEO) a going away present in the form of an extraordinary retirement package. And they were all smiles, which looked much like this - $$$$$

Stay tuned, more true war stories to come.