It takes Thomas Sowell to point out the obvious reason failing CEOs are often released early from their contracts with bonuses.
What really sets some people off is the fact that a CEO who has mismanaged some corporation into losing billions of dollars is rewarded with a severance package worth millions.
Think about it. If the CEO’s decisions are costing the company billions, it is a bargain to get him out the door immediately for millions, rather than having his departure delayed by either internal struggles or battles in the courts.
UPDATE: Now that I think about it, the USA would save enormous amounts of money, and be obviously better governed, if every single member of congress was offered 10 million dollars simply to leave. Cost: a mere 5.35 billion. Practically nothing. Only small change in comparison just to the pork in every year, yet alone the money wasted to the efforts of lobbyists and special interests, and the money spent in straightforward vote buying with entitlements.
One thing you’d know about the congress critters who stayed… either they’d be the very honest ones, or the ones already making more than 10 million per term in less scrupulous ways. So we’d have only the honest, or the very competent (scarily so), but at least we’d get rid of the weak minded dopes. Think of it as funded term limits.
