Should Great Men Get their Pound of Flesh?

Sitting here in “Socialist” Finland (that is a true misnomer see “Finland Is a Capitalist Paradise” in the New York Times 12.01.2020) one can only wonder at board stupidity or CEO greed. In both cases “The meek shall inherit the Earth” (Matthew 5:5) has a new meaning…

Why any board like Boeing’s board would agree to pay their sacked CEO, Dennis Muilenburg, with $62m in compensation and pension benefits is beyond comprehension. He was the person in charge of the development and sales of the Boeing 737 MAX jetliner that killed 346 people in two crashes, and has probably caused compensation payments, damages and fines to run into billions. It is shocking that any board could come to such a decision to pay such a sum, or any sum, when staff and subcontractors are losing jobs and contracts because of the actions and decisions of this CEO. 

… and then there is the case of the Nissan/Renault/Mitsubishi CEO, Mr. Carlos Ghosn, who did, or did not, run off with some cash in his pocket. Here the big question is how did the Japanese and French  board members get into this mess because they obviously did agree to pay him a huge salaries and bonuses over the course of some 2 decades! Running a big alliance selling hundreds of millions of cars with 450 000 workers is no excuse not to have controlled this gentleman carefully. Just like the above case where Boeing’s board just could not keep up with what was going on, so it appears that the French and Japanese boys just lost it.

Mr. Ghosn is now demanding that he receive a pension from his former employer because living as a pensioner is expensive when you have a wife who like very expensive jewellery , many nice big high cost houses and yachts. He is really demanding €250 000 and more from Renault as a pension… oh boy corporate greed has no bounds…

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