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12/27/2005

how to rob an organisation lawfully

just a couple of years back they appointed this guy to be the chairman of the new york stock exchange. america is a country that works under the rule of law. so we can expect everyone to work within the legal framework. but these people at the board have their own ideas. new york stock exchange is a public company, bo cheng hu. they are the main trustees and can do what they want with the money in the exchange. so how to dip into the coffer and share the loot? and to do it legally? they appointed a chairman and approved to pay him us$200 million a year or about s$360 million. simply put, s$30 million a month of s$1 million a day for 360 days a year. who in his right mind would think or accept such nonsense? probably the board and the ceo agreed to share $30 million each from the payout, at the expense of the sleeping shareholders. fortunately in america the rule of law is operated to the last word, and the us$200 million must be approved by an agm. and the shareholders voted against it and booted out the chairman before they pay him all the money the board wanted to pay him. and the board is working within the law, all legitimate. there is no corruption!

2 comments:

Matilah_Singapura said...

How to rob a cuntry lawfully? Form a political party, kill off the opposition, jail the dissenters, get into power form a government and screw the people...

The government is the biggest legal robber of all!

Before they came along, it was the church!

redbean said...

wow,

i think there must be a text book on this. it seems that everyone knows about this method.

organised gangsterism, warlord or what?