On eve of bankruptcy, U.S. firms shower execs with bonuses | Article [AMP] | Reuters

On eve of bankruptcy, U.S. firms shower execs with bonuses | Article [AMP] | Reuters

Bonus before bankruptcy or BBB.

Where is the governance? Hopefully some of the bonuses will be subject to clawback.

The beauty of the “heads I win, tails you lose” C-Suite. When company does well bonus is well deserved, when company does poorly they need to retain management to execute “visionary” turnaround. And when board is in the pocket of the C-Suite it is particularly easy to win the C-suite lottery. And add in the increasingly intertwined lev fin and equity markets it’s a toxic capitalist cocktail.

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