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SEC / BofA Judge May Change the Face of Corporate America

Finally ther is a judge (Judge Rakoff) that understands that the owners of a corporation are the stock holders and that the CEO's have a responsibility to be truthful regarding the CEO's decisions that affect the value of the corporation. The next step must also \be made to hold members of the Boards of Directors as coconspirators. The boards are responsible for representing the stock holders not pading the pockets of their cood friends in the executive offices. This brings up the real conflict of interest presentd by having the CEO and the COO being the same person.
One argument presented is that the officers and board members have large stock holdings and therefore have a vested interest in protecting their holdings. This is BS because they voted themselves their holdings, they didn't even have to show a measureable benefit for the ordinary (small) stock holders to get their bonuses.

Could Automakers Take the Airline Route Pensionwise?

As the companies continue to shut out the former "workers" they do little to build confidense in their corporate leadership ability. We hear the cry of legacy cost but these result from miss management by agreeing to a promise but then not setting aside the funds to pay for that promise when it becomes due. The industrial high rollers got their bonuses for avoiding labor strife, took their money but did not secure the escrow account for the promised benefit for the workers who trusted management leaders to fulfil their side of the agreement.