Two points: "Management" is not a monolithic institution and the president of Sears does not assume responsibility for the president of Penny's. Most of the people saddled with S-O are honest people who are paying a price for the dishonest ones.
The second point is that you have not addressed the question of what the total cost burden is of S-O. Do you know? And, if not, how are you judging it?
If you have some measure of the costs and benefits, other than what you find annoying, I'd be all ears. If not, you're just bitching over something you haven't bothered to weigh or to think about.
For my colleagues and I (the entire IT department of the English part of a French company that does some business in the USA) it was an average of seven working days last year. Call it 2 1/2% on our employment costs :-(
Well, I started by doing a search on _The Economist_ website, read for an hour and I found that, like most things that are too complicated to discuss over a cracker barrel, this is a tough one.
I was cheering when S-O was passed because I was getting outraged at all the corporate-executive fraud and theft, but I'm trying to look at the issue with an open mind. I think I'd have to know more about what really goes on in corporate boardrooms to have a worthwhile opinion. It stinks, but so does a really good cheese.
========= With S-O, American corporations are reporting record profits.
It is unclear if S-O is causing the record profits by forcing management to watch the till, or if it is causing the record profits by requiring all the profits to go into the till by preventing skimming by management.
Now if we can just get a law passed requiring dividend distribution based on claimed earnings, with an optional DRIP [dividend reinvestment program].
Another thing to shoot for is a law limiting total annual executive and board compensation to not more than 10X that of the President of the United States.
Unka' George [George McDuffee] ............................... On Theory: Delight at having understood a very abstract and obscure system leads most people to believe in the truth of what it demonstrates.
G. C. Lichtenberg (1742-99), German physicist, philosopher. Aphorisms "Notebook J," aph. 77 (written 1765-99; tr. by R. J. Hollingdale, 1990).
Damn George, I always liked you but now I'm feeling all misty eyed and in love. :) THAT gets the vote for the best idea for a law I've seen this decade.
Mike in Missouri Hroller McKnutt Pornstar, Mad Scientist, Genius for Hire Girls chased and caught!
=========== What a person is worth and how much they are paid are [or at least should be] two different things.
Unka' George [George McDuffee] ............................... On Theory: Delight at having understood a very abstract and obscure system leads most people to believe in the truth of what it demonstrates.
G. C. Lichtenberg (1742-99), German physicist, philosopher. Aphorisms "Notebook J," aph. 77 (written 1765-99; tr. by R. J. Hollingdale, 1990).
PolyTech Forum website is not affiliated with any of the manufacturers or service providers discussed here.
All logos and trade names are the property of their respective owners.