Sunday, March 12th, 2006...7:37 am
Wow, Actual Corporate Responsibility
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I don’t like to give corporate officials credit for anything, but once in a while one of them does something that deserves actual congratulations.
US Airways President and CEO Doug Parker is not taking his bonus this year. The bonus would amount to $770,000. He decided that he couldn’t in good concience take the bonus when he was asking employees to take a pay cut.
The sad thing about this is that it is so unusual that we notice it.
1 Comment
March 13th, 2006 at 1:07 am
That’s not corporate responsibility; that’s personal conscience. If the corporation were being responsible, the compensation committee wouldn’t even allow such a bonus to be on the table to be spurned. The problem is seldom the integrity and ethics of corporate management, it is the incentives that the laxity of corporate governance gives to management to look to the short-term, to enrich themselves at the expense of owners and stakeholders, and to fail to plan for long-term responsible growth of the enterprise.