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May 23, 2003
It has been suggested that because public opinion has a lefty focus----even hardline socialist is sometimes said----it does not understand corporate governance or the way markets work. Fair enough. I'm happy to be educated in the intricacies of the market way of life.
Well this is an example of bad corporate governance. Executive pay policies should be performance based and be approved by shareholders.
A little more democracy needs to be introduced into our corporations. Why do they need to be so hierarchical, authoritarian and bureaucratic?
An old Crikey.com article by the Mayne boy on executive payouts can be found here And this article refers to a report that further debunks the corporate myth that high pay=high performance.
This is Gilbertson's defence. A contract is a contract.
Though old lefties may not understand markets they do understand myths, especially the myths generated by the self-organizing market.
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which 'rightie' told you 'lefties' don't understand corporate governance and market forces? whichever it doesn't matter because they obviously suffer a form of cranial inversion...head shoved up arse.