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Agreed. What's sad is that it's the same old story - the CEO flew the company into a mountain, and gets rich for doing it. A responsible board of directors woul
by projectileboy 18y ago
Agreed. What's sad is that it's the same old story - the CEO flew the company into a mountain, and gets rich for doing it. A responsible board of directors would have showed him the door - sans bonus - when he fired all of the experienced sales staff to cut costs. Unfortunately, there aren't many boards in the U.S that are looking out for their shareholders.
- rudyfink 18y agoIf you look at the board ( http://investor.circuitcity.com/directors.cfm http://investor.circuitcity.com/directors.cfm ), there doesn't seem to be much direct retail or electronics experience. Most of the individuals seem to come from finance or service industry backgrounds. Perhaps the board was attempting to be responsible but simply did not have the background necessary for evaluating the business.
- muhfuhkuh 18y agoService industry is all about the customer, so I guess those board members were asleep when he fired the salespeople who gave good customer service.