Need Before Greed

Regarding the activist investor Dan Loeb’s digging the resume misstatement of  Scott Thompson Yahoo’s former CEO, it does not matter what Loeb's intentions were and it does not matter what his ruse was to get to overhaul the Yahoo board. The first point is too many resume padders are out there in the management ranks. All they want to do is to get ahead by passing others to the head of the line to land the top job. Secondly if Loeb is looking for short to medium term gain so be it. Who is not looking for short term gains in Wall Street? The so-called “investors” in Wall Street are all traders who make the quickest buck. There are no more long-term investors except the individuals who buy stock on their own. The CEOs write their job contracts to get salary, bonus, stock options, and stock awards amounting to several millions of dollars per year and then work to manipulate the results. Many CEOs are drawing mega millions in compensation even though their company stock has into the nether world. One example: GE. When Jeff Immelt took over the helm more than 10 years ago the stock price was in the 40s. Look at the stock price now (18). In these 10 years can someone total the entire compensation that Jeff Immelt pulled and can anyone justify his loot of shareholders’ investment vis-a-vis the GE stock price under his watch? There are umpteen other cases like GE. I am fed up with the corporate greed at the top while their performance is abysmal. How is it going on like this? Where is pay for performance slogan now? We need more Loebs to shake up the corporate boards and to rein in the compensation balloon.