Tuesday, February 8, 2011
Accountability In American Business
Recently, it was reported that the Wall Street investment bank, Goldman Sachs, had a 38% decline in profit over the previous year. Mr. Lloyd Blankfein, the CEO, was held accountable for this poor showing by getting his salary raised to three times what it had been. In addition, he was given a $12 million bonus. That is accountability in the business world in America! From my perspective, it is no wonder we had a near financial collapse just three years ago. If business leaders get rewarded for their ineptitude there is not much hope that they will have incentives to function effectively in the future.