Wednesday, February 01, 2006
Ellison: The Oracle of Defy
Ellison's compulsory spending on yachts, villas, etc has come under scrutiny because he is involved in a shareholder lawsuit about a sale of stock in 2001 just ahead of bad earnings news.
Larry's cash burn rate is similar to that of many execs who eventually got into trouble for illegally tapping into company resources after the stock plummeted. That's not as likely to happen with Oracle, but his excess is consistent with the trend of company leaders receiving compensation that puts them out of touch with their workers and society as a whole.
Maybe, just maybe, someday the public will become so tired of the flaunting of ridiculous wealth, golden parachutes and excessive bonuses, that the practice will change. If I were a shareholder or worker, I'd want to know that the board of directors will limit executive compensation. Perhaps promoting that everyone benefits from corporate actions will become a marketing tool to persuade customers an investors that a company is worthwhile.
Posted By Jason Dowdell at 03:27 PM
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