While on the topic of being rewarded for incompetence, there are the jokers at AIG, some of whom recently received million dollar bonuses.
As I have suspected, all too many executives subscribe to the following theory re remuneration: - if we create shareholder value, we deserve exorbitant remuneration - if we totally cock things up, we still deserve exorbitant remuneration
Perhaps I have been too harsh on the halfwit Beames in singling him out for such criticism. While he is undoubtedly an incompetent fool of the highest order, he is by no means as rare a species as I previously thought - either in terms of incompetence or placing his snout in the company trough. Indeed, he is small fry compared to some of the clowns on Wall Street and the City of London.
VHL Price at posting:
2.8¢ Sentiment: Sell Disclosure: Not Held
