Not All Pirates Are in Somalia (via Off the Top o’ My Head)

This is some great writing. Many people are upset by the enormous salaries that CEO’s are pulling down and have conveyed their rage online. But few have explained the mechanics of the corporate system that make these salaries possible.

I visited “Off the Top o’ My Head.” I was impressed by the writing. This is a thoughtful author and he brings legal elements into his reasoning but not too much. The writing is very approachable. You should give this site a visit.

This is his business page.

James Pilant

General Electric Co. made news last month when it reported U.S. profits of $5.1 billion and worldwide profits of $14.2 billion, but paid no federal corporate income tax. GE even reaped a net tax benefit of $3.2 billion. What the newsies do not mention is that the government additionally subsidized the ridiculous wealth GE and other corporations lavish on their executives. Uncle Sam must miss a lot of sleep staying up nights to figure out how to p … Read More

via Off the Top o My Head

One thought on “Not All Pirates Are in Somalia (via Off the Top o’ My Head)

  1. Interesting. I did an analysis of SAP based on UN Global Compact 10 Principles – Index of Inactivity measuring SAP’s #Sustainability Leadership of UNGC http://wp.me/p18MVb-ao . What I found quite impressive is their leadership in the 10th Principle of UNGC i.e. anti-corruption that I gave the maximum ranking for. It has an exceedingly corporate policy on corruption and the whole organization worldwide is tuned to a value base truly a leading edge among all the corporate. This gives a stature to the organization that deals invariably with a number of government bodies around the world. “Not all pirates are in Somalia’ syndrome shall not set in to US Corporate if any excel in the 10th Principle of UNGC because that gives an assurance to the stakeholders and the general public that the profitability statement is not tampered with as was done in case of Enron or WorldCom so as to boost the executive compensation.

    SAP has also a well defined policy of compensation for executive and supervisory board members that does not seem to give an impression of a high-handed approach but a systematic link to performance. http://www.sapannualreport.com/2010/en/to-our-shareholders/compensation-report.html#c1010

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