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| Oh, look what I've found on the ground. |
Here's an image for you: That vulture is stalking that kid, who is on his last, spindly legs.
So when a board of directors, a bunch of vultures, decides to swoop in and scarf up a pile of money they have fund in the accounts of the company which is paying their stipends, think of this bird, and this kid.
Market Basket had a pile of money--about $500 million dollars, and the board of directors decided they would simply grab it. Arthur T had other ideas: Use the money to pay employees, to lower prices for consumers, but the board members wanted it for themselves. It was a case of "stakeholder" capitalism vs, you name it--"Market" capitalism or "Wall Street" capitalism or "Vulture" capitalism. It's all the same. The way Wall Street works is a "board of directors" governs the corporation and they meet in some private room, far from public view and decide how much to pay themselves and as long as the stock price of the company stays up, nobody finds out.
This practice is legalized robbery. Robber barons, feasting on the defenseless.
So when the departing CFO or CEO or provost gets a million dollars a year for life from the company, or when the board of directors votes to pay board members $500,000 a year for all their hard work, there is nobody there to dissent, to raise a hand and say, "Whoa! Who does this money rightfully belong to."
Nice work, if you can get it.
It's all just curled up there, in front of you.
















