I have to side with Big Fred on this one. Not that I agree with the bonus, but a contract is a contract. If the CEO was a true leader, he would not accept the bonus in light of the current economic mess. How much worse could it have been without him in charge? I don't know, but it will be $10 million worse if he takes his bonus. He's out of touch with reality.
Leading by example is going to be very important in solving this mess. It won't sell to the general public, (and we are footing the bill on these bailouts) if the leaders at these financial firms don't tighten their belts, take pay cuts and trim the fat from the top down and use the bailout funds wisely.
Years ago one of my clients ran a very sucessful business grossing in the lower $100 millions in sales. He said he should put his some of his production workers in the accounting department because those guys could support a family of 4 on $25,000 a year and have some money left over. His accounting people were always running out of money, living paycheck to paycheck while making over $100,000 per year.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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