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10/26/2006

how to work for a fatter paycheque

The Enron Case Rachel Beck's subheading of her article in the Today paper simply said, 'Pushing for a fatter paycheque can be plain wrong.' Is this familiar, or would it be a timely reminder of what can go wrong or already gone wrong? What brought down Enron was greed, the need to maintain an appearance of solid growth, soaring profits and a climbing stock price which will directly be translated to a fatter paycheque for the executives. And looking at the cases that are appearing in our courts, it seems that Enron is a role model for many Singapore companies. Some were unfortunate to be caught. Some were still out there, thanking their lucky stars that they are not discovered. Professor Peter Henning of Wayne State University Law School sum it up by saying 'Most executives don't say, let's go and loot the company today.' It starts by small increments, not very noticeable. Something like affordable increases bit by bit. It is so lucky for Singapore that no corporation went out to recruit such a foreign talent and pay through their noses. Wee Cho Yaw is quite right to retain the money to pay local talents and keep the money circulating in our economy. Otherwise he will end up as another laughing stock.

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