Forum Post: It's Not the CEO's; It's the Board of Directors
Posted 13 years ago on Nov. 6, 2011, 9:58 p.m. EST by infonomics
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Dear people who complain about the salaries of the CEO's. Your anger is misplaced as the CEO's are as much a pawn as you. Your target should be the Board of Directors. Go get a 10-Q or 10-K from the web site of your favorite disgust (say Bank of Evil), get their names, get their photos too and target them with your verbal venom. You'll be surprised who seats on these boards. Years ago, Wendy Gramm, wife of once-upon-a-time Senator Phil Gramm sat on the Board of Enron. You may remember the quotes of these two. Phil once said "Americans have become a nation of whiners." Wendy alledgedly said, "Let them eat cake." So, I leave you with this thought: "to be angry is natural, to be angry with the wrong target is foolish."
Demand that an average Joe sit on the Board?
Example of swinging door:
Board of Directors of Citigroup (from 10-K, 2009):
Anthony m. Santomero Former President Federal Reserve Bank of Philadelphia
Problem with CEO's? I have no problem with CEO's. Enjoy this photo of a CEO: http://www.infonomx.com/IBM_Watson_Hitler_Enlarged.jpg
By way of example, I went to Bank of America's web site and investigated their 10-K. Well, guess who sits on their Board? Tick, tock. None other than Tommy Franks, that is General Tommy Franks, which I confirmed by going to Wikipedia whereupon I located the following:
Franks was the U.S. general leading the attack on the Taliban in Afghanistan in response to the September 11 attacks on the World Trade Center and The Pentagon in 2001. He also led the 2003 invasion of Iraq and the overthrow of Saddam Hussein.
In December 2005, Franks was appointed to the Bank of America board of directors, a position he held until resigning on June 11, 2009 for unspecified reasons but as part of an "exodus" of ten directors from April to August, 2009. The bank had received $45 billion of U.S. Troubled Asset Relief Program (TARP) funding and sustained dramatic losses starting in 2008.
What a surprise! Do you think B of A might have profited from the War? Maybe? The old swinging door.
that is half true.
back in the 90s boards of directors were all part of the "old boys club" - a board of director of one company would nominate his friend as a CEO of his company, and his friend would, in turn, nominate the board of director as CEO of his company.
much of this has changed due to regulation, but some remnants remain. the CEO club is after all a very restricted club in the US
WTF is your problem with CEOs? How about basketball stars, movie stars, and morons like Michael Moore? Take everything they have, and give it to the people!!!!
Eat Hollywood and Professional SPorts Stars!!!
They taste all so good!!!
Just like chicken.
This is true.
agree
http://uponlocal.com/up-on-local-media/Direct-Democracy-Office-Election-List
I couldn't agree more! Not enough people understand, that if you want real change, you gotta take out the dot on the top of the i.
The true history of the proletarian struggle!
http://www.youtube.com/watch?v=x-Syc_XOFco
My Maccaca Knocka:
http://www.youtube.com/user/BertGriffin88?blend=2&ob=5#p/u/0/8bSWrQgLcLM