On the subject of this article:
Herb Greenberg Picks Circuit City CEO as worst of 2008
If we all know about bad management at the top screwing a company, and article after article laments the golden parachutes given to idiots for tanking a company....why is it still happening?
Who looks at, say, Philip Schoonover's resume and thinks:
"Hrm....you hired expensive consultants who told you that the best way to save money was to fire damn near everyone who keeps the stores running. Then your company paid said consultants to "foment their plan into actionable items" (translation: 'to do it'). Wrecked the company's reputation, infuriated everyone from investors to customers, and drove the stock down more than 80%.
"When can you start?"
Perhaps it would be easier for everyone if, any time a company hires a CEO like this, the CEO in question just comes to their first meeting, drops their pants, and craps into a box in front of everybody. The message is conveyed instantly, time and money are saved all 'round by cutting straight to the point, and the golden parachute provides emotional comfort to the Board of Directors because they want the guy to go, and by that point they're willing to pay him extra if he'll carry the box out with him when he goes.
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