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Study: CEO greed is bad for business

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questionmark

NEWARK, Del., May 15 (UPI) -- In attempting to both measure and tease out correlations among factors like CEO greed, arrogance and company performance, researchers at the University of Delaware found business leaders can be both too greedy and too altruistic -- both to the detriment of employees and profits.

"We tried to look at what we think greed is more objectively," researcher Katalin Takacs Haynes, now an associate professor of management at Delaware's Alfred Lerner College of Business and Economics, said in a press release. "What we're trying to do is clean up some of the definitions and make sure we're all talking about the same concepts."

Haynes and her colleagues attempted to measure greed, not by pay rates comparative to other employees, but in salary and benefit demands relative to other CEOs and in times of company stress.

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so, once again, to determine the evident they had to waste money on a study? No wonder the country's economy is going to hell.

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Sir Wearer of Hats

In other groundbreaking studies, water has been discovered to be wet, the Pope, shockingly, to be a Catholic. Pending is the scathing expose into the faecal habits of bears.

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Zalmoxis

Well, if you consider the role a CEO plays at any company in contrast to the role an owner plays at his or her company you'd think that a CEO would be required to play a more neutral role. This fight against the neutrality a CEO must have can flare up that greed or altruism, shifting the needs of the company the wrong way. At least that's how I see it. The CEO doesn't own the company and is working a temporary job.

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White Crane Feather

Sigh... Do I even look at the study? Does anyone realize that there are a few types of CEOs. Some CEOs founded the company. So these guys are like owners that sold off lots of their ownership to EVERYONE READING THIS THAT HAS A RETIRMENT FUND!!!!!! . Then the the next type is the CEO that was hired after the other one was fired by THE BOARD OF DIRECTERS..... WHO ARE ALWAYS MAJOR STAKE HOKDERS IN THE COMPANY...... AND WILL NOT LET A ceo ( small case intended) affect the company negatively. Oh, there are always anomolies, but even Steve jobs was fired from Apple once. The headline and without looking the study is completely bogus.

Edited by White Crane Feather

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Travelling Man

Okay, Questionmark, I have a question for you.

You have a very successful company that makes widgets. You need a CEO. What kind of CEO will you hire? What kind of experience and/or track record do you want?

How much are you willing to pay to get what you want in said CEO?

What I see here are outsiders that see these folks getting butt-loads of money - but don't consider what it actually takes to GET a good CEO. Kind of like those "House-hunter" shows on HGTV where they couple wants a 10,000 square foot home with marble and an olympic sized swimming pool and car park and 17 bedrooms and servants' quarters and everything - for $9.99. If you want the best (or what you HOPE is the best), you have to pay for it. This works with homes AND CEOs. Sure, some will be crap and we will read about a CEO being fired after 2 years into a 10 year contract and getting a HUGE golden-parachute payout, but we rarely hear about the CEO that gets the company standard profits and saves them money and fulfills their contracts to the letter.

"The National Soccer Team announced that they are looking for a new Striker today. This Striker must have a track record of getting 19 goals per game, and no yellow cards for the past 13 seasons minimum. They must be able to run 9.0 second 100m races - repeatedly - for 12 hours per day. The team announced that they are willing to pay this new Striker three chickens and a half-pack of chewing gum to be added to their roster. This is now the 14th year that this position has been advertised, and the team doesn't understand why nobody of the requisite abilities has come forward." (/sarcasm)

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questionmark

A greedy CEO is the one I don't want, regardless of how much experience he has. And the performance records show: the greedier the CEO (as seen in the study and anybody could have read from the annual reports) the worse the company's performance. And sincerely, I don't care how much a football club pays its strikers. I don't intend to ever invest in entertainment.

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aztek

A greedy CEO is the one I don't want, regardless of how much experience he has. And the performance records show: the greedier the CEO (as seen in the study and anybody could have read from the annual reports) the worse the company's performance. And sincerely, I don't care how much a football club pays its strikers. I don't intend to ever invest in entertainment.

and who are you exactly??

there is a board of directors that can fire ceo if company does not make enough, if it does they could not care less what he does. if annual report shows slow earnings ceo will be replaced. whater you want him\her of not, makes 0 difference unless you are on the board.

Edited by aztek

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questionmark

and who are you exactly??

there is a board of directors that can fire ceo if company does not make enough, if it does they could not care less what he does. if annual report shows slow earnings ceo will be replaced. whater you want him\her of not, makes 0 difference unless you are on the board.

I was answering a rhetorical question rhetorically. It helps to follow the discussion to know what we are talking about.

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aztek

I was answering a rhetorical question rhetorically. It helps to follow the discussion to know what we are talking about.

oops, my bad. lol.

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