I think now would be a great time for the CEOs of the world to earn their pay. They think they all should get millions of stock options and then when their stocks go up "due to their acts and decisions" that they should make hundreds of millions of DOLLARS. Well, if they are so omnipotent, I would invite them to step up and make their stocks go up right now.
The truth is now readily apparent, the credit bubble made their stocks go up and that is what made them rich. Stan O'neal, Charles Prince and Angelo Mozilo did not really create any permanent shareholder value. In fact, their leadership came close to destroying the company's that they headed. Shame! Shame!
Your letter is excellent and you should send it to the NYTimes, Wall Street Journal and Investors Business Daily for publication. I could not agree with you more. The greed of O'Neal, Prince, Mozilo and others is egregious. Where are the Fund Managers who hold the largest # of shares? We should be bombarding them with mail. This madness has to stop. My shareholder value has plummeted not gone up. We may be passive (wrong) but we are not stupid.
Thanks for the kind words about my random posting. I don't think the publications you mentioned would be interested in idle musings. They would be more interested in the opinions of "experts" like Jim Cramer, Donald Trump, Martha Stewart, and Abby Joseph Cohen.