and they just run a company into the ground, but still pay themselves these grandiose, bloated, obscene compensations - a la K Mart and Enron. There are a lot of little mini Enrons out there in my opinion.
Another case in point - the "celebrity" CEO - like Jack Welch. I despise Jack Welch and think he is really no different than Bernard Ebbers. Why does Jack Welch think that GE should pay for his toilet paper in retirement? According to Jim Hightower in the Austin Chronicle this is Welch's "retirement package"!!!
http://www.austinchronicle.com/gyrobase/Issue/column?oid=oid%3A109012A Wealth of Retirement Benefits
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But GE adds to the golden luster by paying its retired CEO a monthly stipend to help make ends meet: $1.4 million a month, to be precise. Not that he really needs the cash, since GE also pays for all of his little necessaries, such as a penthouse apartment overlooking Central Park, free din-din at the four-star Jean Georges Restaurant, primo box seats at Yankee games and the Metropolitan Opera, limousines, and helicopters to get around town, use of GE's 737 Boeing jet to scoot around the world, membership dues in 11 exclusive country clubs, and so many other perks of the corporate royalty.
But then it gets weird. General Electric also reimburses this multimillionaire for his mundane purchases, such as buying a bottle of wine, purchasing a CD, picking up a newspaper ... and, yes, bringing home a four-pack of toilet paper.
All this for a guy who prided himself on being a lean-and-mean, penny-pinching CEO. He slashed jobs, cut wages, moved factories abroad to exploit sweatshop labor, and depleted the nest eggs of thousands of GE's rank-and-file retirees -- even while negotiating a lush retirement for himself
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