When you’re paying people thousands of dollars an hour there is a practical side to not having them kill a few hours in the airport lounge waiting for a connecting flight.
F em.
They’re not hourly.
Besides if they get less done they will cause less of a mess.
Every ‘three letter title’ person I’ve been acquainted with has been a net negative producer.
Presidents of start ups on the other hand are usually brilliant. CEO’s of public corps...idiot air thief empty suits.
When you're paying people thousands of dollars an hour, you're usually wasting money. Rarely is that rate a good value, with the entertainment business being one of the exceptions (e.g., talk show hosts, sports figures).
Compensation of corporate officers has largely been decoupled from performance. If investors want to agree to the reciprocal Board arrangements, etc., then that's their prerogative--if they accept the losses with the gains. But now that I, the American taxpayer, have been brought in against my will to prop them up, then it's reasonable to expect some better relationship between performance and compensation.
In most cases, a far less expensive officer cadre would perform as well as, or better than, what currently sits in place.
Of course, this sticky problem (government running of businesses) is one of the biggest reason why the bailouts are a bad idea in the first place.
Fair point - but think of all the taxpayers' money they won't be losing while they are cooling their heels in an airport lounge.