Re:The unnecessary demise of Barnes and Noble
by pjc50 on Friday February 16, 2018 @07:15AM
(#16391761)
"The salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself." -- JK Galbraith
In certain failing businesses, the activities of senior management aren't directed towards trying to save the sinking ship, but to free up as much cashflow as possible and direct it to themselves. Rather than the creditors who would get it in bankruptcy.
In certain failing businesses, the activities of senior management aren't directed towards trying to save the sinking ship, but to free up as much cashflow as possible and direct it to themselves. Rather than the creditors who would get it in bankruptcy.
MG Rover is my go-to example, but there are plenty: https://www.theguardian.com/business/2011/may/08/mg-rover-di...