May 16, 2006

Goals met, bonuses paid...

I saw this in the NYT a few weeks ago:

Raytheon directors punished the chief executive, William H. Swanson, by taking away almost $1 million from his 2006 compensation yesterday because he failed to give credit for material that was in a management book he wrote...

OK, I guess you have to take firm steps to combat the evils of plagiarism. But I don't recall ever hearing of a board taking away part of a CEO's compensation because he failed to keep the business profitable and growing...Whereas (and this may be press bias) you often hear of bosses getting their bonuses even as the company is being downsized, divisions axed, workers laid-off, and the stock heads south...

Hmmm. And speaking of the New York Times....I wonder...

Posted by John Weidner at May 16, 2006 7:14 AM
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