Fire the Board

I cannot believe that the government is firing CEO”s. They ought to be firing the board of directors.

Shareholders own these companies, banks, auto companies… even furniture companies my alter ego tells me. Shareholders elect boards to handle the overall direction of a company AND to hire a CEO. So if the CEO is doing a poor job let’s get after the people who hire the guy (or gal) in the first place.

Think of the ramifications of not firing the board of directors and firing the CEO instead. Boards are meaningless and that all the power is held by the CEO. Furthermore, that shareholders, or the owners of these companies really have no power. Now what a pickle we are in. You own the company but have no power. How would a CEO ever take direction.

Now I do understand that the government by rescuing all these banks, auto companies and so on… should have an ownership steak. They might even want someone to represent their interest on the board. There is a process for that… its called an election. E…..lec….tion. Hmm….