Friday, April 21, 2006

The corporate management looting season is upon us

Annual meeting season is upon us. Buried in glossy annual reports attempting to turn corporate earning pig's ears into silk purses are the astounding salaries and bonuses for top management.

GE is a perfect example. The bosses handsomely reward themselves while the stock price has gone nowhere for 5 years. In buying power terms the shares took a very big hit. What do the shareholders get? A few pennies more on the dividend.

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