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» babble   » current events   » national news   » Finally, a way of keeping track of those sneaky executives!

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Author Topic: Finally, a way of keeping track of those sneaky executives!
Doug
rabble-rouser
Babbler # 44

posted 15 December 2001 03:50 AM      Profile for Doug   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
This website is a super, fabulous idea. We need one of these in Canada:
http://bosswatch.labor.net.au/

From the site's description:

" The NSW Labor Council has developed Bosswatch, Australia's first inter-relational corporate database, to allow workers to understand who is really behind their employer.

Bosswatch will allow users to track the networks of influence including directors, shareholders and subsidiary companies. It uses information that is publicly available, but which has never before been linked through the one database."


From: Toronto, Canada | Registered: Apr 2001  |  IP: Logged
gonzo
recent-rabble-rouser
Babbler # 1841

posted 15 December 2001 04:20 PM      Profile for gonzo     Send New Private Message      Edit/Delete Post  Reply With Quote 
This is great, we need more of this kinda stuff.
http://www.theyrule.net

From: BC via ON via AB via SK | Registered: Nov 2001  |  IP: Logged
skdadl
rabble-rouser
Babbler # 478

posted 15 December 2001 05:07 PM      Profile for skdadl     Send New Private Message      Edit/Delete Post  Reply With Quote 
This is great. A project for the CLC? Buzz?
From: gone | Registered: May 2001  |  IP: Logged
rasmus
malcontent
Babbler # 621

posted 03 January 2002 04:15 AM      Profile for rasmus   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
New fat cat row over 14 £1m payoffs
From: Fortune favours the bold | Registered: May 2001  |  IP: Logged
Victor Von Mediaboy
rabble-rouser
Babbler # 554

posted 03 January 2002 10:23 AM      Profile for Victor Von Mediaboy   Author's Homepage        Edit/Delete Post  Reply With Quote 
The Guardian needs better reporters, or better editors, or something. The language in that article struck me as being awfully awkward.
From: A thread has merit only if I post to it. So sayeth VVMB! | Registered: May 2001  |  IP: Logged
skdadl
rabble-rouser
Babbler # 478

posted 03 January 2002 10:31 AM      Profile for skdadl     Send New Private Message      Edit/Delete Post  Reply With Quote 
From the Guardian article:

quote:
"This is further evidence, if any was needed, of corporate greed running out of control," he said. "Even incompetents managed to depart their posts with a king's ransom after destroying the jobs of thousands of workers in companies left in tatters."

My question: Why does this happen? Who has an interest in paying these guys off this way?


From: gone | Registered: May 2001  |  IP: Logged
Victor Von Mediaboy
rabble-rouser
Babbler # 554

posted 03 January 2002 10:37 AM      Profile for Victor Von Mediaboy   Author's Homepage        Edit/Delete Post  Reply With Quote 
It's to avoid nasty legal battles, no? Pay em off so they don't sue. Even if the suit it frivolous, it costs the corp in legal fees.
From: A thread has merit only if I post to it. So sayeth VVMB! | Registered: May 2001  |  IP: Logged
rasmus
malcontent
Babbler # 621

posted 03 January 2002 12:17 PM      Profile for rasmus   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 

[ January 03, 2002: Message edited by: rasmus_raven ]


From: Fortune favours the bold | Registered: May 2001  |  IP: Logged
WingNut
rabble-rouser
Babbler # 1292

posted 03 January 2002 12:27 PM      Profile for WingNut   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
My question: Why does this happen? Who has an interest in paying these guys off this way?

Who indeed? Fear of lawsuits? Nope. They have these agreements in writing before they even accept their lofty titles of CEO, or CIO, or CTO, or CFO or CwhateverO.

I have attempted to make this point elsewhere but to no avail: there is no investor control. The inmates are runing the asylum. The cat is away and the mice are at play. The bull is in china shop. The kids are loose in the candy store.

Institutional investors only watch trends and are only interested in investment results. They could care less how a corporation is managed. Postions on corporate boards become patronage positions for old politicians and pals. They all nod yes to the management team. The management team without investor controls do what they want with impunity.

In the end it is workers and small investors left high and dry. The institutional investors mostly walk away unscathed with the losses buried in an avalance of numbers while the executives walk away froma a failing company richer than when they walked in. The vandals are in charge of the economy and we keep telling ourselves it is a good system. And it is if you are one of the vandals.


From: Out There | Registered: Aug 2001  |  IP: Logged

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