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In response to an accusation that I'm a Communist | by NOLAWitch | 2006-11-19 12:55:59 |
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Well put NOLA (n/t) | by FireballMatt | 2004-02-05 06:39:52 |
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One of the problems... | by saminz | 2004-02-05 06:51:23 |
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But the latter are necessary evils, sometimes. | by nin_man | 2004-02-05 07:13:44 |
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Good idea, but... | by saminz | 2004-02-05 07:21:55 |
| Yes, precisely. |
by nin_man |
2004-02-05 07:37:02 |
A CEO in title only. There should still be a COO or President in place who is the very top level of management, as well as a CFO who handles the money and prepares financial reports and SEC filings for the CEO to sign off on. The company's Board finalizes decisions and the paper CEO should never *ever* be a member of the Board. A PR man isn't going to have near the clout with the public as a CEO.
With him signing off on financials for the SEC, talking to the media, appealing to investors, and putting his name behind everything the company does publicly, his reputation and name are on the line every day. If what he says doesn't go, or if the financials he signs off on are misleading or wrong, it's his butt. He's the real Chief Take The Blame Officer. If things go bad, his name will be all over the news, he will go to prison, and his reputation will be worthless. That kind of responsibility can't and shouldn't come cheap.
I also think it's a mistake to allow stock gifts to a CEO (or anyone at that level, privvy to such information) to be sold while the CEO is in office at a company. Without that ability, inflating earnings or dumping your stock just before an announcement that would drive down stock prices is much less appealing, and there's that much more incentive to help make sure the company does well.
But if the guy who started the company can serve effectively as a CEO, then by all means, he should. He's much less likely to be a fly-by-night officer with the intent to flit in long enough to make a few million and buzz off before it hits the fan. |
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