Kilroy Was Here
June 05, 2002
Chief Executive Parasite
Stockholders need to get a handle on CEO compensation. In the New York Times, Paul Krugman's article Greed Is Bad makes a cogent argument on the negative impact of super-sized CEO compensation plans on the health of companies and the integrity of corporate accounting practices.
And one needs look no further than Tyco chief L. Dennis Kozlowski for an cautionary example of how greed is ruining our economic system and our country.
Not only is Tyco one of the Corporate Deserters I wrote about on May 14th, but Kozlowski himself has done unnatural acts to achieve vast amounts of wealth that cannot truly improve his happiness on this planet.
At some point, enough is enough.
June 03, 2002
Back from Vacation
Kilroy has returned from a trip to the American Southwest. The Grand Canyon was Grand. Sedona was beautiful. Kilroy enjoyed the heat of the desert rather than the chill of San Francisco.
I'm back now though. Let the Internet Graffiti continue!
In Slate, Michael Kinsley has written an ironic article pointing out how corporate America (in this case, Halliburton) is holding Arthur Anderson accountable for not keeping these corporations from dishonestly cooking their books. Yeah, Arthur Anderson was bad and should be punished. But why aren't the executives of the firms that are operating unethically being held as accountable? Sure, the cop was dirty in this case, but shouldn't we be more focused on the mob bosses that have ruined the credibility of the American Economy?
Our government needs to strike now to reassert the integrity of our economic system by aggessively prosecuting all executives who preside over companies who deal in these shenanigans. That includes the Enron executives, Global Crossing executives...
And even, the former CEO of Halliburton, one Richard Cheney.