PeopleSoft urges Oracle nominee rejections

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Corporate Cash Cow

PeopleSoft Board, CEO and top management are scared of the prospect that someone will take away their personal cash cow. As long as they are in charge they own the company and decide on their own salaries.
For some people it takes years, or appointment by friends, to work to a position where they can assume ownership and controll of other peoples wealth (shareholders). By naming their 'friendly' board of directors, having control over list of owners, the use of corporate funds for advocacy and power to cut special deals with large shareholders give them real ownership of the corporations. The only protection shareholders have is the degree of greed these people have to further their own wealth. For the CEO's there is really no downside - who can't make it for the rest of their life if necessary with the millions they make in their first year, plus generous pension, plus golden handshake, plus stock options, etc, etc.

Posted by: TrustMe_z   Posted on: 02/24/04 You are currently: a Guest | Members login | Terms of Use

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