soulcyon
03-10-2012, 01:24 AM
http://www.forbes.com/sites/stevedenning/2012/02/22/hbr-blows-the-lid-off-c-suite-over-compensation/
If some progressive journal were to write about overpaid CEOs, it wouldn’t be news. It would be just another “dog bites man” story.
But when Harvard Business Review, the pillar of the business establishment, writes that the C-Suite is so grossly overcompensated that US competitiveness is being systematically undermined, it’s big news. It’s a “man bites a pack of dogs” story.
Throughout HBR’s 90 year history, it has been a cheerleader for the C-Suite. Issue after issue, year after year, HBR has tirelessly nurtured the C-suite, tended it, encouraged it, cared for it, defended it, and celebrated it, as well as providing guidance for those aspirants who would like to gain access to the hallowed citadel.
So HBR can hardly be accused of any anti-business bias when it publishes an incisive article detailing how and why the C-Suite of US business is so grossly overcompensated that the practices are inexorably pushing the US economy into decline. In effect, the article describes in detail what the various Occupy movements have long suspected but never knew how the rip-off was executed.
The article makes clear that overcompensation of the C-suite is not merely an issue of “fairness” or “whining by the 99 percent”. The phenomenon is having disastrous business consequences, including a serious mis-allocation of capital and talent, repeated governance crises, rising income inequality and an overall decline of the US economy.
The article appears in HBR’s March issue, which is devoted to “Reinventing America”. It’s written by Professor Mihir Desai, the Mizuho Financial Group Professor of Finance at Harvard Business School–also hardly a hotbed of communism.
If some progressive journal were to write about overpaid CEOs, it wouldn’t be news. It would be just another “dog bites man” story.
But when Harvard Business Review, the pillar of the business establishment, writes that the C-Suite is so grossly overcompensated that US competitiveness is being systematically undermined, it’s big news. It’s a “man bites a pack of dogs” story.
Throughout HBR’s 90 year history, it has been a cheerleader for the C-Suite. Issue after issue, year after year, HBR has tirelessly nurtured the C-suite, tended it, encouraged it, cared for it, defended it, and celebrated it, as well as providing guidance for those aspirants who would like to gain access to the hallowed citadel.
So HBR can hardly be accused of any anti-business bias when it publishes an incisive article detailing how and why the C-Suite of US business is so grossly overcompensated that the practices are inexorably pushing the US economy into decline. In effect, the article describes in detail what the various Occupy movements have long suspected but never knew how the rip-off was executed.
The article makes clear that overcompensation of the C-suite is not merely an issue of “fairness” or “whining by the 99 percent”. The phenomenon is having disastrous business consequences, including a serious mis-allocation of capital and talent, repeated governance crises, rising income inequality and an overall decline of the US economy.
The article appears in HBR’s March issue, which is devoted to “Reinventing America”. It’s written by Professor Mihir Desai, the Mizuho Financial Group Professor of Finance at Harvard Business School–also hardly a hotbed of communism.